• Strong operational performance and higher gold prices drive record 1H net mine cash flow
• On track to achieve FY25 production and cost guidance
• KCGM Mill Expansion Project progressing well, with 34% of total capex to be spent in FY25

Northern Star Resources Ltd (ASX: NST) is pleased to report its operational and financial results for the December 2024 quarter, with gold sold of 410,249oz at an all-in sustaining cost (AISC) of A$2,128/oz. The company generated underlying free cash flow of A$72 million during the quarter and is forecast to increase in 2H from higher gold sales. Northern Star's FY25 guidance remains unchanged at 1,650-1,800koz gold sold and AISC of A$1,850-2,100/oz. Growth capital expenditure is forecast in the range of A$950-1,020 million in addition to the KCGM Mill Expansion capex of A$500-530 million. The KCGM Mill Expansion Project is progressing well, with 34% of the total A$1,500 million estimated spend to be incurred in FY25. Major works include delivery and installation of major equipment as well as commissioning of service infrastructure. Northern Star's investment-grade balance sheet remains strong, with net cash of A$265 million at 31 December. The company also has A$300 million on-market share buy-back open, with A$43 million remaining.

FY25 guidance at 1,650-1,800koz gold sold and AISC of A$1,850-2,100/oz. FY25 growth capital guidance at A$950-1,020 million plus KCGM Mill Expansion capex of A$500-530 million. FY25 exploration guidance at A$180 million.

The company remains on track to deliver its FY25 production and cost guidance. The KCGM Mill Expansion Project is progressing well, with 34% of the total capex to be spent in FY25. Northern Star's investment-grade balance sheet and A$300 million on-market share buy-back provide financial flexibility to execute its growth strategy.