Investor Presentaiton
Growing cash generation, balance sheet flexibility
One of the key differentiators of the Northern Star business is our balance sheet; this strength
has allowed for counter cyclical acquisitions and sector leading returns to Shareholders
Post KCGM acquisition moderate gearing levels as at 31 March 2020; 11% net debt to equity*
allowing funding of opportunistic organic or inorganic growth opportunities
The business has available cash/liquid resources of A$551M at 31 March 2020
Despite deferral of CY20 hedges (to CY21), NST continues to deliver into the hedge book
Total Liquidity as at 31 March 2020
Hedge Profile
NORTHERN STAR
SESOURCES LIMITED
Investments
A$20.6M
Total
Funding
Capacity
A$551M
300
Cash & Bullion
-A$530.8M
250
NST continues to
*Net debt is calculated as: Borrowings (less amounts recognised from change in lease accounting standard) less cash
and bullion as at 31 March, divided by shareholders equity. balances are unaudited and provisional in respect of KCGM.
koz
200
150
100
50
deliver into hedges,
despite CY21 deferral
H.
2,200
2,150
2,100
2,050
2,000
0
1,950
Jun-20 Half Dec-20 Half Jun-21 Half Dec-21 Half Jun-22 Half Dec-22 Half
Hedge Ounces
AUD Hedge Price/oz
Average Hedge Price
7
AUD Gold PriceView entire presentation