Northern Star Resources (NESR.F) 2025 Earnings Call Presentation

Northern Star Overview - Northern Star sold 1,634 koz of gold in FY25 [12] - The All-in Sustaining Cost (AISC) for FY25 was A$2,163/oz [12] - Net mine cashflow for FY25 reached A$1,189 million, with cumulative net mine cashflow from FY12-1H FY25 totaling A$32 billion [17] - Cumulative dividends from FY12-1H FY25 amounted to A$14 billion [17] KCGM Operations - KCGM's Mineral Resources have increased by 104% since acquisition [24] - Ore Reserves at KCGM have increased by 48% since acquisition [24] - FY25 gold production at KCGM was 419 koz [28] - Production guidance for FY26 at KCGM is projected to be 550-600 koz [28] - The KCGM Mill Expansion project is expected to deliver approximately 900 kozpa from FY29 onwards for 10 years [28] - As of March 31, 2025, KCGM's total Mineral Resources were 836,282 thousand tonnes at 14 gpt, containing 38,867 thousand ounces of gold, and total Ore Reserves were 363,973 thousand tonnes at 12 gpt, containing 14,441 thousand ounces of gold [63] Yandal Operations - Yandal Production Centre FY25 AISC: A$2,317/oz [35] - Jundee AISC: A$2,064/oz [35] - Thunderbox AISC: A$2,629/oz [35] - FY26 AISC guidance: A$2,600-2,900/oz [35] - Yandal targets 500–550koz to control future cost base [35] Pogo Operations - Pogo sold 283 koz of gold in FY25 [40] - The AISC for FY25 was US$1,341/oz [41] - Net mine cash flow for FY25 was US$297 million [44] - As of March 31, 2025, Pogo's total Mineral Resources were 19,111 thousand tonnes at 100 gpt, containing 6,163 thousand ounces of gold, and total Ore Reserves were 9,130 thousand tonnes at 72 gpt, containing 2,126 thousand ounces of gold [64]