The following is a summary of the Northern Star Resources Limited (NESRF) 1H 2024 Earnings Call Transcript:
Financial Performance:
Northern Star Resources reported a robust underlying EBITDA of AUD 889 million for 1H FY 2024, an increase of 41% from the previous period.
Cash earnings amounted to AUD 702 million, marking an increase of 50%.
The company declared an unfranked interim dividend of AUD 0.15 per share, a notable 36% increase from the FY 2023 interim dividend.
Northern Star Resources bought back AUD 169 million in shares as part of their AUD 300 million buyback program.
The firm's net cash position was AUD 229 million at the end of December, reinforced by strong liquidity of AUD 2.6 billion.
Business Progress:
The company sold 780,000 ounces of gold across its three production centers during the first half of the year, and continues to be on track to meet its FY 2024 guidance.
Northern Star Resources remains committed to its five-year profitable growth strategy, facilitated by their low-risk strategy to produce superior returns.
Significant progress has been made on the KCGM mill expansion project, with plans to double the capacity to 27 million tonnes per annum.
Mining has commenced at Golden Pike North, and mill optimization activities continue at Thunderbox and Wonder underground.
Having delivered numerous milestones over the past 2.5 years, the company has generated over AUD 1.2 billion in cumulative free cash flow from its operations.
More details: NORTHERN STAR RESOURCES LTD IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.