Northern Star Says Annual Cash Revenue Exceeds A$1 Billion – Update

By David Winning and Rhiannon Hoyle


SYDNEY – Northern Star Resources Ltd. said cash revenue was more than A$1 billion ($690 million) in fiscal 2022 and expected its gold sales to be flat or increase over the following 12 months .

Northern Star said underlying earnings before interest, tax, depreciation and amortization would be in the range of A$1.02 billion to A$1.06 billion. Management uses this measure to define cash profit after deducting maintenance capital, net interest and corporate tax payments.

The company said Wednesday it sold 1.56 million troy ounces of gold in the 12 months to June, down 2.5% from fiscal 2021 but within 1 .55 to 1.65 million oz.

So-called all-in sustaining costs, a metric designed to capture the full cost of gold mining, rose 10% to A$1,633 an ounce. This was within a revised target range of A$1,600-1,640 per ounce, raised from A$1,475-1,575 per ounce in April.

Regarding the outlook, Northern Star said it expects to produce between 1.56 million and 1.68 million ounces of gold in the 12 months to June 2023. Annual sustaining costs while included were projected by management between A$1,630 and A$1,690 per ounce and to be weighted towards the second half of the year.


Write to Rhiannon Hoyle at [email protected]