2024-07-25 01:51:06 ET
Northern Star Resources Limited. (NESRF)
Q4 2024 Earnings Conference Call
July 24, 2024, 19:00 PM ET
Company Participants
Stuart Tonkin - Managing Director & Chief Executive Officer
Simon Jessop - Chief Operating Officer
Ryan Gurner - Chief Financial Officer
Conference Call Participants
Mitch Ryan - Jefferies
Kate McCutcheon - Citi
Levi Spry - UBS
Daniel Morgan - Barrenjoey
Matthew Frydman - MST Financial
Hugo Nicolaci - Goldman Sachs
Neil Watkinson - Kalgoorlie Miner
Jarrod Lucas - ABC News
Presentation
Operator
Thank you for standing by. Welcome to the Northern Star June 2024 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
Good morning and thanks for joining us. With me today is our Chief Operating Officer Simon Jessop and Chief Financial Officer Ryan Gurner. I'm pleased to present an exceptional June quarter performance to close out FY’24. With Thunderbox and Pogo we are both highlights, achieving record performances complemented by continued strong performance from the portfolio.
In FY’24 our team delivered record gold sold and record net mine cash flow. This demonstrates the quality of the asset portfolio across our three production centers and also the value our investment is making to unlock future low cost high margin announcers. I'm particularly proud of our people who safely delivered on our FY’24 commitments. Thank you for all your efforts which are continuing in FY’25 as we advance our profitable growth strategy.
For the June quarter, we sold 439,000 ounces at an all in sustaining cost of AUD $1,815 an ounce, generating underlying free cash flow of AUD $189 million which is up 32% from the March quarter and for the year we generated underlying free cash flow of AUD $462 million, up 29% from last year.
As you can see in our results Thunderbox and Pogo stand out this quarter for record mill throughput and in turn gold ounces. Each of our production centers remain in a positive net mine cash flow position ensuring they are self-funding the growth. As a group we remain financially resilient in a net cash position of AUD $359 million. This financial strength allows us to fund all our growth investments, exploration activities and capital management initiatives including dividends and share buybacks as demonstrated during FY’24....
Read the full article on Seeking Alpha
For further details see:
Northern Star Resources Limited (NESRF) Q4 2024 Earnings Call Transcript