Northern Star Resources Ltd reported underlying earnings before interest, tax, depreciation and amortisation of A$4.3 billion for the fiscal year ended June 30, 2026, a 22% increase from the prior year.
Underlying earnings per share rose 5% to A$1.24, while cash earnings totalled A$2.9 billion. The company declared a final fully franked dividend of A$0.30 per share, bringing full-year dividends to A$0.55 per share. Total shareholder returns via dividends reached approximately A$785 million, equating to a 27% payout of cash earnings. A$129 million was returned to shareholders through an on-market buyback program.
KCGM’s mill expansion moved into commissioning, with the expanded facility expected to be handed over to operations in September 2026. Stage 2 completion is scheduled for the first half of FY2027, with projected improvements in recoveries of 1% to 2% and the elimination of concentrate haulage between KCGM and Gidgee. The company maintained guidance for FY2027 total gold production at 1.5 million to 1.65 million ounces, with KCGM expected to contribute 550,000 to 650,000 ounces and Carosue Dam 150,000 to 160,000 ounces.
All-in sustaining costs were guided at A$3,050 to A$3,450 per ounce, reflecting portfolio-wide inflation of approximately 5%, higher royalties and elevated oil prices. Total capital investment for FY2027 is projected at A$2.6 billion to A$2.9 billion, including A$1.5 billion to A$1.77 billion in growth capital. Exploration expenditure is forecast at A$230 million to A$250 million, focused on KCGM, Pogo and the Hemi project.
The Hemi project holds 13.2 million ounces of mineral resources and 5.5 million ounces of ore reserves, with a build period of roughly 2.5 years post-final investment decision, targeted for late FY2027. Northern Star’s year-end cash and bullion position stood at A$1.2 billion, while the underlying EBITDA margin reached 56% and return on capital employed improved to 13.4%.
Group mineral resources totalled 88.9 million ounces and ore reserves 28.4 million ounces as of March 31, 2026, supporting a production profile of more than a decade.
