AUS
NZ
UK
CA
USA
IND
Highlights
- FY24 revenue surged by 19.12% to AUD 4,921 million.
- NST inked an agreement to acquire De Grey Mining, adding significant mineral resources and strengthening the portfolio.
- The company aims for 2 million ounces of annual gold production by FY26.
Northern Star Resources Ltd (ASX:NST) is an international gold producer with significant operations in Western Australia and Alaska. The company delivered revenue of AUD 4,921 million in the financial year 2024, reflecting a 19.12% increase from AUD 4,131 million in FY23. Net profit after tax increased by 9.23% to AUD 639 million, while underlying EBITDA reached AUD 2,192 million, the highest margin since FY22. Cash earnings also saw significant improvement, growing from AUD 1,223 million to AUD 1,805 million.
The period saw the sale of 1.621 million ounces of gold at an AISC of AUD 1,853 per ounce. Favorable gold prices further boosted performance.
The De Grey Mining Acquisition
On 2 December 2024, NST announced a pivotal agreement to acquire De Grey Mining (ASX:DEG). Under this scheme, NST will offer 0.119 shares for each DEG share. The acquisition includes De Grey's Hemi Project in Western Australia, adding 74.9 million ounces of mineral resources and 26.9 million ounces of ore reserves in Tier-1 jurisdictions.
Outlook
Looking ahead to FY25 and beyond, NST aims to achieve gold sales of 1,650–1,800 thousand ounces at an AISC between AUD 1,850 and AUD 2,100 per ounce. Capital expenditure is forecast at AUD 950–1,020 million, with AUD 500–530 million dedicated to expanding the KCGM Mill. Exploration spending is projected at AUD 180 million as the company advances toward its goal of producing 2 million ounces annually by FY26.
Share performance of NST
NST shares closed 0.77% down at AUD 15.44 apiece on 31 December 2024. In the past one year, NST’s share price has increased by almost 13.11%, and in the last three months, it has fallen by almost 2.83%.
52-week high of NST is AUD 18.32, recorded on 25 October 2024 and 52-week low is AUD 12.00, recorded on 18 January 2024.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 31 December 2024. The reference data in this report has been partly sourced from EODHD/Others.
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