Northern Star targets higher gold sales in FY25
Australian gold miner Northern Star will increase its gold sales to between 1.64-million and 1.8-million ounces in the 2025 financial year.
The company increased its gold sales by 4% to 1.62-million ounces at an all-in sustaining cost (AISC) of A$1 759/oz in in the 2024 financial year.
Strong operational performances across three production centres in Kalgoorlie and Yandal, in Western Australia, and Pogo, in Alaska, coupled with elevated gold prices pushed, Northern Star’s revenue to a record A$4.9-billion, underlying earnings before interest, tax, depreciation and amortisation to A$2.19-billion and cash earnings to A$1.8-billion.
The company posted underlying net profit after tax of A$689-million and statutory net profit after tax of A$639-million.
“FY24 has been a strong year for Northern Star as we maintained a focus on delivering our organic profitable growth strategy,” commented MD Stuart Tonkin.
He added that record cash earnings enabled the board to declare a final dividend of 25c a share, at the mid-point of Northern Star’s policy, for a 202 total dividend of 40c a share.
“In line with our proactive approach to capital management to deliver superior shareholder returns, we have also extended the buy-back program for a further 12 months,” said Tonkin.
Northern Star’s 2025 growth capital expenditure (capex) is forecast to be in the range of A$950-million to A$1.02-billion, plus the KCGM Mill Expansion capex of A$500-million to A530-million, which is in the second year of its build phase.
Sustaining capital expenditure is forecast to be in the range of A$200/oz to A250/oz.
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