Northern Star Resources Limited (OTCPK:NESRF) Q3 2025 Earnings Conference Call April 28, 2025 7:00 PM ET
Company Participants
Stuart Tonkin – Managing Director and Chief Executive Officer
Ryan Gurner – Chief Financial Officer
Simon Jessop – Chief Operating Officer
Conference Call Participants
Levi Spry – UBS
Kate McCutcheon – Citi
Daniel Morgan – Barrenjoey
Hugo Nicolaci – Goldman Sachs
Alister Harvey – JPMorgan
Matthew Frydman – MST Financial
Operator
Thank you for standing by, and welcome to the Northern Star March 2025 Quarterly Results Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions].
I would now like to hand the conference over to Mr. Stuart Tonkin, Managing Director and CEO. Please go ahead.
Stuart Tonkin
Good morning, and thank you for joining us today. With me on the call is Chief Financial Officer, Ryan Gurner; and Chief Operating Officer, Simon Jessop. To start, we are very pleased that De Gray shareholders voted overwhelmingly in favor of the scheme of arrangement, and we look forward to welcoming their team and their shareholders into Northern Star.
I’d also like to take this opportunity to say thank you to all our employees and business partners who consistently deliver a strong performance, enabling both organic growth and inorganic opportunities like the De Gray acquisition.
With gold price exceeding AUD 5,000 an ounce, it is an outstanding time to be producing and discovering gold in the stable, low-risk jurisdictions of Western Australia and Alaska. Against this buoyant market backdrop, we generated strong net mine cash flow of $295 million in the March quarter.
And pleasingly, there was positive contributions from all production centers despite operational challenges at our biggest asset, KCGM. Our balance sheet remains in a net cash position, and our hedge book continues to wind down
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