• Strong cash flow generation; KCGM positioned for June quarter uplift
• FY25 production and cost guidance revised due to operational challenges at KCGM
• Accelerated growth capital and exploration expenditure to drive future production

Northern Star Resources Ltd reported its March 2025 quarterly results, with gold sold of 385koz at an AISC of A$2,246/oz. The company delivered strong net mine cash flow of A$295 million across all production centres despite operational challenges at its biggest asset, KCGM. Mining of higher-grade ore in the KCGM open pit was delayed due to low productivity in the Golden Pike North area, but mining efficiency is expected to lift significantly in the June quarter. As a result of the near-term challenges at KCGM, Northern Star has revised its FY25 production guidance to 1,630-1,660koz at an AISC of A$2,100-2,200/oz, up from the previous guidance of 1,650-1,800koz at A$1,850-2,100/oz. The company has also accelerated its growth capital expenditure to A$950-1,100 million and exploration expenditure to A$230 million to drive future production. Northern Star's balance sheet remains in a net cash position, and the company continues to reward shareholders through an on-market share buy-back program.

FY25 production guidance revised to 1,630-1,660koz at an AISC of A$2,100-2,200/oz, up from the previous guidance of 1,650-1,800koz at A$1,850-2,100/oz. Growth capital expenditure (excluding the KCGM Mill Expansion) revised to A$950-1,100 million, up from A$950-1,020 million. Exploration expenditure revised to A$230 million, up from A$180 million.