NSTYY - Northern Star Resources Limited (NESRF) Q2 2024 Earnings Call Transcript

2024-01-23 22:55:07 ET

Northern Star Resources Limited (NESRF)

Q2 2024 Earnings Conference Call

January 23, 2024 5:00 PM ET

Company Participants

Stuart Tonkin - Managing Director and Chief Executive Officer

Simon Jessop - Chief Operating Officer

Ryan Gurner - Chief Financial Officer

Conference Call Participants

Hugo Nicolaci - Goldman Sachs

Daniel Morgan - Barrenjoey

Hayden Bairstow - Argonaut

Ben Lyons - Jarden Securities Limited

Alex Barkley - RBC Capital Markets

Alexander Papaioanou - Citigroup Inc.

Matthew Frydman - MST Financial

Levi Spry - UBS Group AG

Presentation

Operator

Thank you for standing by, and welcome to the Northern Star Resources December 2023 Quarterly Results. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Mr. Stuart Tonkin, Managing Director and CEO. Please go ahead.

Stuart Tonkin

Thank you and good morning. With me today is Chief Operating Officer, Simon Jessop and our Chief Financial Officer, Ryan Gurner. I am pleased to present a strong December quarter performance positioning Northern Star for growth in production and cash flows in the second half of FY 2024 as planned. Each of our production centers contributed excellent progress towards our profitable growth strategy during the quarter with a number of highlights that Simon and Ryan will cover shortly.

We sold 412,000 ounces of gold at an all-in-sustaining cost of A$1,824 an ounce, generating underlying free cash flow of over A$100 million. We maintain our full-year production guidance for costs as well 1.6 to 1.75 million ounces at an all-in-sustaining cost of A$1,730 to A$1,790 an ounce, with a strong H2 outlook delivering gold sales into a very healthy gold price, currently above A$3,000 an ounce.

We remain financially resilient in a net cash position of A$238 million, with strong liquidity of A$2.5 billion and strong cash flows which funds all of our growth investments, exploration activities and dividends....

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