Northern Star Releases Q4 Trading Update, Announces to Pay Interim Dividend

  • Jul 08, 2020 AEST
  • Team Kalkine

Northern Star Resources (ASX:NST) generated underlying free cashflow of $217.9 million in the June quarter from the sale of 262,717 ounces. Some other highlights include:

  • Total sales for FY20 was 900,388 ounces while gold production amounted to 905,177 ounces, about 1.6% below the lower end of FY20 guidance.
  • Fully-franked interim dividend of 7.5 cents a share shall be paid on July 16 for FY20 which was earlier postponed
  • NST drew down a further A$200 million in debt in Q3 which it repaid on July 6, lowering its corporate bank debt to $500 million

NST reduced its hedge book to 536,426 ounces at $2,085 per ounce in the June quarter as part of its strategy to improve its exposure to the spot price.

 


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