KEY POINTS
Environment, Social and Safety (ESS)
? LTIFR at 0.5 per million man hours
? Proactive steps taken across Australian operations to prepare for Western Australia border openings, expected
5 February; Pogo team continues to manage impact of COVID-19
Production
? Gold sold totalled 392,655oz at an AISC of A$1,631/oz (US$1,191/oz) and all-in cost (AIC) of A$2,069/oz
? By production centre:
o Kalgoorlie: 244,915oz gold sold at an AISC of A$1,538/oz
o Yandal: 102,163oz gold sold at an AISC of A$1,518/oz
o Pogo: 45,577oz gold sold at an AISC of US$1,735/oz
? Kalgoorlie and Yandal continue to perform in line with expectations; Pogo delivered below expectations but is
well positioned to increase 2H mining rates
? On track to meet FY22 guidance of 1.55-1.65Moz at an AISC of A$1,475-A$1,575/oz
Discovery and Growth
? A$150 million spent on net growth capital and A$28 million on exploration
? Key growth projects progressing in line with strategy to become a 2Mozpa producer by FY26, including KCGM
open pit development (Kalgoorlie) and Thunderbox mill expansion (Yandal)
Financial
? December quarter average realised price of A$2,429/oz for sales revenue of A$950 million
? Cash and bullion of A$588 million at December 31; Net cash1 of A$288 million
? 1H22 Cash Earnings2 of A$425-440 million
Corporate
? Convertible funding agreement for C$154 million (A$169 million) with Osisko Mining Inc. (TSX: OSK), including
an exclusive right to negotiate a 50/50 JV at Windfall gold project in Quebec, Canada
? Final US$70 million payment for the acquisition of Newmont Corporation’s Kalgoorlie power business
1 Net Cash is defined as cash and bullion less corporate bank debt (A$300M)
2 Cash Earnings is defined as Underlying EBITDA less sustaining capital, net interest, and corporate tax paid
OVERVIEW
Northern Star Resources Limited (ASX: NST) is pleased to report operational and financial results for the December quarter
2021, with gold sold of 392,655oz at an all-in sustaining cost (AISC) of A$1,631/oz.
see & read more on
https://www.nsrltd.com/investor-and-media/asx-announcements/2022/january/quarterly-activities-report-december-2021 |
