Northern Star Resources Ltd · ASX:NST
Northern Star Resources — Investor Day (September 2020)
80 slides from Northern Star Resources's investor day presentation, Sep 24, 2020
Slide 1: Northern Star Annual Strategy Day ASX Announcement
ASX: NST ASX Announcement 24 September 2020 NORTHERN STAR ANNUAL STRATEGY DAY Northern Star Resources Limited (NST) is pleased to release its 2020 Annual Strategy Day presentation. This virtual presentation can be viewed at https://webcast.boardroom.media/northern-star-resources-ltd/20200924/NaNnort
Slide 2: An Australian gold miner - for global investors
An Australian gold miner - for global investors Annual Strategy Day – September 2020
Slide 3: Indigenous Peoples Statement
Indigenous Peoples Statement Northern Star would like to acknowledge and pay our respects to Traditional Owner groups whose land we are privileged to work on, and whose input and guidance we seek and value within the operation of our business. We acknowledge their strong and special physical and cul
Slide 4: Resources & Reserves and Forward Looking Statements
Resources & Reserves and Forward Looking Statements Mineral Resources and Ore Reserves The Mineral Resources, Ore Reserves and exploration results information reported in accordance with the 2012 edition of the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and O
Slide 5: Annual Strategy Day Agenda
Annual Strategy Day Agenda Agenda Speaker Bill Beament, Executive Chair Introduction Guy Singleton, Social Responsibility & External Relations Manager ESG Hilary Macdonald, General Counsel & Company Secretary NST Strategy, Vision & Company Positioning Bill Beament, Executive Chair Company Performanc
Slide 6: Environmental, Social & Governance
Environmental, Social & Governance
Slide 7: Integrated Sustainability - Core business alignment
Integrated Sustainability - Core business alignment Our Sustainability Vision “Delivering responsible environmental and social business practice that lead to both the creation of strong economic returns for our Shareholders, and shared value for our Stakeholders.” Our Sustainability Framework Ecosys
Slide 8: Environment, Climate and Social Responsibility
Environment, Climate and Social Responsibility “Our business considers the environment, economic and sociocultural well-being of communities and the broader regions in which we interact with” 7
Slide 9: Governance
Governance Nasdaq evaluated NST Board to be highly functional, responsive Board Tenure & Diversity June 2020 and engaged TENURE GENDER AGE 70+ <40 40-49 INDEPENDENCE ACSI rated NST as ‘Leading’ level 17% 0% 17% of ESG Reporting of ASX200 >2 Years 3-6 Years 33 % 17% Females Board Composition 33% 67%
Slide 10: NST Strategy, Vision and Company Positioning
NST Strategy, Vision and Company Positioning
Slide 11: NST Business: Tier-1 Assets in Tier-1 Locations
NST Business: Tier-1 Assets in Tier-1 Locations ▪ ASX listed; Top 15 Global Gold Producer ▪ NST manages a simplified business; with 4 large scale US Tier-1 assets in Tier-1 locations; world class geology Pogo Operations (100%) (Alaska) +11Moz Gold Camp ▪ Sector leading ESG credentials ▪ Strong organ
Slide 12: Best-in-class Returns
Best-in-class Returns 30 10-Year Average ROIC ▪ NST operates by being a business 20 first and a mining company second 10 GDX 10Yr Average ▪ ROIC/ROE leader, despite multiple % 0 acquisitions (highly disciplined M&A) -10 ▪ NST 10-Year average Return on -20 Equity (ROE) +28% -30 Northern Kirkland Evol
Slide 13: Tier-1 Assets in Tier-1 Locations
Tier-1 Assets in Tier-1 Locations ▪ NST’s investment grade portfolio has been meticulously put together over the past decade ▪ Globally, there are only 18 mines producing +300kozpa in Tier-1 Jurisdictions1 ▪ NST has an interest in 17% of these mines, with Pogo on track to join this list ▪ No other p
Slide 14: Growth Platform - Significant exposure to gold price
Growth Platform - Significant exposure to gold price Northern Star growing to >1.3Mozpa across four Tier-1 assets all in Tier-1 locations Rapidly growing gold miner, with a track record of growth Tier-1 Locations - with world-class geological systems Reserves 10.8Moz Strong platform for growth Prove
Slide 15: High quality assets deliver peer leading growth
High quality assets deliver peer leading growth ▪ Annual production increasing 40% over 160% YoY EPS Growth1 the next 3 years to 1.25Mozpa, costs expected to fall by 10% % change FY20-FY21 120% ▪ FY21: Forecasting another standout growth year for production, cashflow and 80% dividends; backed by one
Slide 16: Changing Global Gold Landscape - 2018 Opportunity
Changing Global Gold Landscape - 2018 25 20 Opportunity Enterprise Value US$B 15 10 5 Opportunity “seized” 0 Barrick Newmont Newcrest Goldcorp Agnico Randgold Anglogold Kinross Goldfields Kirkland Eagle Lake 15 Source: Bloomberg, Company Filings
Slide 17: Global Gold Landscape - 2020; NST Opportunity
Global Gold Landscape - 2020; NST Opportunity 70 60 Opportunity 50 Enterprise Value US$B 40 30 20 10 Opportunity - Barrick Newmont Agnico Newcrest Kirkland AngloGold Gold Fields Kinross Northern Evolution Eagle Lake Star 16 Source: Bloomberg, Company Filings
Slide 18: Disciplined M&A + Organic growth = Outperformance
Disciplined M&A + Organic growth = Outperformance Yandal + Pogo + KCGM drive next phase of ▪ Disciplined M&A, coupled by NST’s best-in-class organic growth operational capability, provides the strong Pogo acquisition 5000 foundation for significant organic growth and immediately superior value creat
Slide 19: Proven Value Generation
Proven Value Generation $10,259 $10,996 ▪ NST’s strategy of balancing organic growth with well executed M&A has generated over A$10B of value for Shareholders since the first acquisition in 2010 ▪ This strategy has been achieved through operational excellence, investing heavily into exploration, gro
Slide 20: Dividends; increasing returns to Shareholders
Dividends; increasing returns to Shareholders ▪ NST has consistently paid dividends since 2012 536 ▪ 42% of all equity capital raised has been returned to Shareholders in fully franked dividends Cumulative dividends (A$M) cents per share (cps) ▪ Dividend policy targeting approximately 6% of revenue
Slide 21: Company Performance & Highlights
Company Performance & Highlights
Slide 22: FY2020 Company Highlights
FY2020 Company Highlights ▪ Maintained sector leading Safety Performance with TRIFR 3.3 less than half industry benchmark ▪ Disclosure of Sustainable Development Goals and Task Force on Climate-Related Financial Disclosures ▪ Significant mine life with Reserves up 102% to 10.8Moz and Resources up 67
Slide 23: NST Safety Performance positive for the sector
NST Safety Performance positive for the sector Health, Safety & Social Responsibility for all Stakeholders remains a core value of the Northern Star business Northern Star has maintained industry leading safety performance with injuries below half the sector averages improving the industry standard.
Slide 24: Culture and Capability - People drive Performance
Culture and Capability - People drive Performance ▪ Northern Star employs over 3,000 staff and contractors who operate by our STARR Core Values ▪ People work for people and we continually invest in the Team to develop and incentivise the highest performance in line with our Core Values ▪ Our Company
Slide 25: Northern Star Tier-1 Portfolio with four cash generators
Northern Star Tier-1 Portfolio with four cash generators 1. Kalgoorlie Operations (100%) Mine type: U/G Australia US Processing: 3.2Mtpa Installed Capacity (Alaska) FY21F Production1: 270-300koz Au FY21F AISC2: A$1,700/oz (US$1,222/oz) Au Reserves: 1.6Moz Au @ 3.6g/t Au Resources3: 6.8Moz Au @ 3.1g/
Slide 26: FY21 Guidance ~1Moz Producer, Growth & Discovery
FY21 Guidance ~1Moz Producer, Growth & Discovery FY21 Guidance Production (koz) AISC (A$/oz) Growth Capex (A$M) Yandal Operations 270 - 300 1,200 - 1,275 37 Kalgoorlie Operations 270 - 300 1,650 - 1,750 12 KCGM (50%) 220 - 240 1,470 - 1,570 99 Australian Operations 760 - 840 1,440 - 1,540 148 Pogo O
Slide 27: Strong Near Term Production Growth Outlook
Strong Near Term Production Growth Outlook ▪ Northern Star has a strong NST Production Growth Outlook track record of profitable production growth 1,400 following Resource and Reserve Growth 1,200 Gold Produced (koz) ▪ Key near term production 1,000 growth at high margin operations of Yandal and 800
Slide 28: Financial Strength & Business Focus
Financial Strength & Business Focus
Slide 29: FY20 Financial Highlights
FY20 Financial Highlights Final dividend Underlying FCF of FY20 Underlying NPAT increases 27% to A$423M increases 69% to 9.5¢ps After investing ~A$206M in growth A$291M Special 10¢ps capital & exploration dividend Investments $22M Ore Reserves Consistent, industry Total +102% to 10.8Moz Bullion Fund
Slide 30: Capital Management
Capital Management Total Shareholder Return % (TSR) vs Peers ▪ Disciplined capital management underwrites strategy NST 2,904% ▪ Commitment to Balance Sheet strength enables growth and protects the business XAU:AUD up 97% (2014-2020) 1348%** ▪ Strong support from debt and equity markets to fund oppor
Slide 31: Cost focused business with competitive advantages
Cost focused business with competitive advantages ▪ Proactively manage operational costs Group Cost Structure1 ▪ Direct employee labour & benefits comprise ~25% of cost structure Royalties/Taxes & Other 6% ▪ Operational employee pay model directly aligned to safety Power & Energy and productivity me
Slide 32: Low capital investment for near-term returns
Low capital investment for near-term returns ▪ Superior near term growth profile against large cap peers 45% 3 Year Production & AISC Outlook A$498M ▪ Low cost, low risk production growth is coming from lowest 35% cost operations (Yandal and Pogo) 25% ▪ FY21 growth capital A$198M: 15% A$540M - A$50M
Slide 33: Strong cash flow outlook
Strong cash flow outlook 4.5 ▪ Consistent strategy execution has produced Cumulative Free Cash Flow (A$M) significant free cash flow 3.4 3.9 3.8 757 ▪ Record FY20 Group underlying free cash flow of A$423M 1.6 ▪ Solid free cash flow contribution from KCGM of 1.2 A$91M from first 6-months of ownership
Slide 34: Geology Update
N NORTHERN STAR Geology Update
Slide 35: Consistent Resource and Reserve Growth
Consistent Resource and Reserve Growth 10.8 Mozs 35 ▪ Group Mineral Resources increased 67% (12.7Moz) to 31.8Moz1 31.8 Mozs 12,000 ▪ Group Ore Reserves increased 102% (5.5Moz) to 10.8Moz2 30 10,000 25 5.4 Mozs 20.8 Mozs 8,000 Reserve Koz Resource Mozs 20 4.0 Mozs 15.9 Mozs 3.5 Mozs 6,000 10.2 Mozs 1
Slide 36: Group Resource and Reserve Update
Group Resource and Reserve Update ▪ Growth is net after 985,000oz mining depletion ▪ Strong organic resource growth at Yandal, Pogo, Kanowna and Carbine ▪ Resource position includes acquisition of KCGM, Bronzewing, sale of Ashburton ▪ Organic Reserve growth at Yandal and Pogo continue to underwrite
Slide 37: Yandal Growth
Yandal Growth Yandal Resource Growth ▪ Near term production growth from addition of open pit opportunities within expanded Yandal Operations area 8,000 7,000 ▪ Julius and Orelia deposits undergoing optimisation 6,000 5,000 Kozs 4,000 3,000 2,000 1,000 - JUNDEE MY19 JUNDEE MY 20 YANDAL MY 20 Measured
Slide 38: Pogo Growth
Pogo Growth Pogo Endowment: ~11 Moz Pogo Resource Growth Current Resource: 6.7 Moz Current Reserve: 1.5 Moz 8,000 7,000 6,000 5,000 Kozs 4,000 3,000 2,000 1,000 - POGO MY19 POGO MY20 Measured Indicated Inferred ▪ Resource Growth within five main areas ORE RESERVES AND MINERAL RESOURCES AS AT 30 JUNE
Slide 39: Kalgoorlie Growth
Kalgoorlie Growth Kalgoorlie Resource Growth 8,000 7,000 6,000 Acra JV 5,000 Carbine Kozs 4,000 Kundana 3,000 Kanowna 2,000 EKJV 1,000 - SKO KALGOORLIE MY19 KALGOORLIE MY20 Measured Indicated Inferred ORE RESERVES AND MINERAL RESOURCES AS AT 30 JUNE 2020 1 ▪ Carbine area emerging as new production c
Slide 40: KCGM Growth - First Steps
KCGM Growth - First Steps KCGM Resource Growth 12,000 10,000 8,000 Kozs 6,000 4,000 2,000 - KCGM MY20 Measured Indicated Inferred ORE RESERVES AND MINERAL RESOURCES AS AT 30 JUNE 20201 ▪ A maiden JORC (2012) Resource and Reserve presented demonstrates a long Ore Reserves 119.7Mt @ 1.3gpt for 4.8Mozs
Slide 41: Asset Overview
N NORTHERN STAR Asset Overview
Slide 42: Pogo - transition to NST Business Model complete
Pogo - transition to NST Business Model complete The current mining plan centres on annual production of 1.3Mtpa @ 8gpt and 90% recovery for ~300koz produced to be delivered by FY2023 Plan involves mining method change and the establishment of new mining areas, with success looking like: ▪ Increase
Slide 43: Pogo - FY20 performance & effects of COVID-19
Pogo - FY20 performance & effects of COVID-19 ▪ FY20 performance was 836kt mined @ 7.5gpt; with 834kt processed at 7.5gpt and 87% recovery for 174koz produced ▪ FY20 delivered quarter-on-quarter improvements throughout the year ▪ Grade increased as new mining areas were accessed in South Pogo, Fun Z
Slide 44: Pogo - improvement phase in FY21
Pogo - improvement phase in FY21 FUN ZONE ▪ FY21 guidance is 180,000oz to - 6% of feed FY21 - Resource 0.9Moz @ 11.8gpt NORTH ZONE 220,000oz at AISC of US$1,200- - 9% of feed FY21 - Resource 1.0Moz @ 9.1gpt US$1,400/oz ▪ Liese zone is closest to existing infrastructure & as such forms the largest po
Slide 45: Capital and efficiency improvements planned in FY21
Capital and efficiency improvements planned in FY21 ▪ Numerous operational and infrastructure improvements to be completed in FY21 to increase mining volumes ▪ US$35M of growth capital has been committed, with US$30M attributed to improving processing & support infrastructure to capacity of 1.3Mtpa
Slide 46: Yandal Operations Overview
Yandal Operations Overview ▪ Yandal Operations incorporate the Jundee and Bronzewing mining and processing centres ▪ Current base load operations at Jundee ▪ 50km from Wiluna town centre Jundee Mine and ▪ ~700 strong work force Processing Facility ▪ 2.7Mt processing capability Ramone Open Pit ▪ Thre
Slide 47: Yandal Operations - Mining
Yandal Operations - Mining Jundee Mining Physicals Jundee Underground 5,000,000 400,000 ▪ Jundee Operation is a low-cost, Tier-1 asset mining over 300koz in FY20 and at an AISC of Ore Tonnes Mined (t) 4,000,000 Ounces Mined (oz) 300,000 A$1,095/oz 3,000,000 ▪ Jundee system is an endowment of over 13
Slide 48: Yandal Operations - Processing
Yandal Operations - Processing ▪ Mill throughput increase from 1.4Mtpa to 2.7Mtpa under NST tenure Jundee Production History Under NST Tenure ▪ Capital infrastructure upgraded across the 3,000,000 350,000 journey to support increased activity including power station, tailings facility and water supp
Slide 49: Kalgoorlie Operations - Regional Centre
Kalgoorlie Operations - Regional Centre ▪ Concentrated regional centre allows simplified management and leverage to synergies and gold price KANOWNA with organic growth opportunities BELLE PLANT 2.0Mtpa ▪ Organic growth FY14-FY20 with FY21-FY22 guidance of Processing facility 270-300koz, production
Slide 50: Kalgoorlie Operations Mining - World Class
Kalgoorlie Operations Mining - World Class ▪ Ore tonnes mined from the operations have more than Ore Tonnes Mined doubled in the past 5 years to >3Mtpa run rate from the 3.5 4 operating underground operations ▪ NST in-house contractor Northern Star Mining Services 3.0 Ore Tonnes Mined (Mt) (NSMS) un
Slide 51: Kalgoorlie Operations Processing - Continual Improvement
Kalgoorlie Operations Processing - Continual Improvement KALGOORLIE OPERATIONS - TOTAL PROCESSING ▪ 3.2Mtpa processing capacity in the region currently with 4,000 studies completed and opportunity to expand Processed Tonnes (kt) ▪ Kanowna Belle world class infrastructure – 2.0Mtpa milling 3,000 capa
Slide 52: KCGM - a world class gold asset and geological system
KCGM - a world class gold asset and geological system KCGM OPERATION OVERVIEW ▪ Approximately 600km east of Perth, Western Location Australia Mt Percy Historic Production & System ▪ +65Moz historic Production (1893 – Present) Endowment ▪ ~85Moz Endowment @ MY 2020 Mt Charlotte KCGM ▪ 50/50 Joint Ven
Slide 53: KCGM Highlights
KCGM Highlights ▪ Strong platform set for growth, with 15-year mine life visibility based on Reserves, with production set to ramp up to +675koz per annum by FY28 ORE RESERVES AND MINERAL RESOURCES AT 30 JUNE 2020 ▪ Successful transition to new JV Ore Reserves 240Mt @ 1.3gpt for 9.7Moz1 ownership (1
Slide 54: KCGM Fimiston Super Pit
KCGM Fimiston Super Pit ▪ Long-life robust mine plan that delivers beyond FY2034 based on current Ore Reserves of 9.7Moz (100%) ▪ Revised mine plan developed has increased the mining areas from two to three: ▪ Golden Pike ▪ Morrison ▪ Oroya Brownhill (OBH) ▪ A fourth area (Fimiston South) is schedul
Slide 55: Mt Charlotte Underground
Mt Charlotte Underground ▪ More than 5.5Moz has been produced from Mt Charlotte to July 2020. Additional drilling and review of historical data has resulted in JORC (2012) Compliant Reserves of 510koz at 2.1gpt and Mineral Resources of 1.9Moz at 2.1gpt Location of Mt Charlotte in- ▪ The Mt Charlotte
Slide 56: Organic Growth Summary
N NORTHERN STAR Organic Growth Summary
Slide 57: Pogo Processing Expansion
Pogo Processing Expansion ▪ US$30M committed to increasing plant capacity to 1.3Mtpa ▪ Expansion within existing plant boundary ▪ Commissioning on schedule for mid CY2021 ▪ 60% complete, construction ongoing through COVID-19 restrictions ▪ Dry tailings storage facility expansion preliminary engineer
Slide 58: Yandal Processing Study
Yandal Processing Study ▪ Existing processing capacity: ▪ Jundee 2.7Mtpa ▪ Bronzewing 1.8Mtpa ▪ Additional ore sources via Jundee regional pits and Echo acquisition pits JUNDEE PLANT Ramone ▪ Optionality: Julius ▪ Upgrade Jundee to 5Mtpa ▪ Refurbish Bronzewing and increase to 2.2Mtpa Orelia BRONZEWI
Slide 59: NST Organic Growth & Continued Value Creation
NST Organic Growth & Continued Value Creation The NST Team has a proven track record of delivering Oz Production by Centre + production growth, with a 76% increase over the last Guidance mid point for next three years four years 1,400 The platform that NST has built is outstanding on 40% production
Slide 60: Yandal - Base lode of Jundee & Bronzewing open pits
Yandal - Base lode of Jundee & Bronzewing open pits Yandal to 400kozpa Current mining performance delivers 300kozpa produced from Jundee underground and identified open pits Installed infrastructure easily supports exiting operations with: ▪ 2.7Mtpa processing capability ▪ 280koz from Jundee undergr
Slide 61: Pogo - on its way & with further growth opportunity
Pogo - on its way & with further growth opportunity Pogo to 300kozpa Pogo is well underway to reach production of 1.3Mtpa @ 8gpt and 90% recovery for 300koz produced Equipment and personnel resources on site to achieve these targets, productivities continue to improve as new mining areas are accesse
Slide 62: Kalgoorlie - concentrated centre, great infrastructure
Kalgoorlie - concentrated centre, great infrastructure and significant leverage to the gold price Kalgoorlie to 300kozpa ▪ Continued production at 300kozpa from existing operations (3.2Mtpa @ 3.2gpt and 92% recovery) ▪ Currently processing capacity of 3.2Mtpa processing capability over two plants; a
Slide 63: NST Organic Growth - What does success look like
NST Organic Growth - What does success look like ▪ Growth is key to our value creation but it is not ounces for ounces sake; protecting margins and reducing costs also critical ▪ We have the required Resources & Reserves, investment, unique culture and capability to continue to deliver organic growt
Slide 64: Exploration Update
N NORTHERN STAR Exploration Update
Slide 65: Exploration Pipeline drives Organic Growth
Exploration Pipeline drives Organic Growth Centre Expenditure Proportion (A$M) (%) Yandal $27.3 27% ▪ A$101M exploration commitment for FY21 Kalgoorlie $34.5 34% Pogo $26.4 26% ▪ Reflects FY20 discovery metrics of A$30/Resource oz and A$98/Reserve oz Regional $7.1 7% KCGM $6.0 6% ▪ Extensive explora
Slide 66: Pogo Exploration
Pogo Exploration E S ▪ Five main producing systems SOUTH all open along strike and at POGO Down dip depth EAST N W extn DEEPS FW zone ▪ Nine underground rigs Down dip ▪ Pogo Deeps program testing for repeated stacked vein systems below center of gravity of all main areas LIESE 1,2,3, LQ L1 extn Hole
Slide 67: Goodpaster Exploration
Goodpaster Exploration Pogo Endowment: ~11 Moz Current Resource: 6.7 Moz ▪ The Goodpaster discovery has been outlined extends over Current Reserve: 1.5 Moz 2.3km along strike and remains open in every direction ▪ Series of stacked flat-dipping (Liese-type) and steeply dipping Goodpaster Central Lode
Slide 68: Regional Potential - District-scale gold camp
Regional Potential - District-scale gold camp Exploration portfolio expanded with Stone Boy Project acquisition ▪ Acquired Stone Boy Project for Goodpaster a total consideration of SHAW Pogo SKIPPY US$1.2M SHAW Shawnee Peak ▪ Significant exploration tenure added close to the Pogo Project ▪ Extensive
Slide 69: Yandal Exploration
Yandal Exploration JUNDEE IN-MINE TARGETS Jundee Mine N COOK ▪ Second year of major in-mine exploration investment into GRIFFIN major targets, 15 rigs operating underground ATLANTIS ▪ Strong focus on advancing “gap” areas and drilling geological CARDASSIAN targets adjacent to key corridors ▪ Key new
Slide 70: Yandal Regional Exploration
Yandal Regional Exploration ▪ Acquisition of Echo Resources tripled the Yandal regional exploration footprint to 3,100km2 ▪ Start of a multi-year regional program to deliver excellent exploration results and discoveries ▪ Major regional aircore programs to build revised geological models ▪ Resource
Slide 71: Consolidated Kalgoorlie Footprint
Consolidated Kalgoorlie Footprint ▪ Northern Star has accumulated an unprecedented exposure to the world-class Carnage Acra JV Kalgoorlie mineral district, which has produced +100Moz of gold since the late 1800’s Carbine ▪ World class infrastructure ▪ Large-scale open pit Kundana Kanowna KCGM ▪ Well
Slide 72: KB Exploration
KB Exploration ▪ Geological framework defined, targeting further expansion of Sims, Troy hanging wall positions (A-D Block) ▪ Staged drill programs with early focus on higher A-D Block for resource conversion ▪ Lowes eastern extension, Velvet merge area with main Lowes trend Near Mine Exploration ▪
Slide 73: Kalgoorlie Exploration - Kundana (100%)
Kalgoorlie Exploration - Kundana (100%) In-Mine Exploration BELOW: Plan view of Kundana mining centres with key in-mine exploration areas ▪ Key priority is Pope John, Xmas, Moonbeam systems at depth ▪ Accelerate exploration of Millennium Falcon trend ▪ Staged program to expand inferred Resource inve
Slide 74: Kalgoorlie Exploration - EKJV (51%)
Kalgoorlie Exploration - EKJV (51%) In-Mine Exploration ▪ Major focus to bring Falcon trend Falc 5796ODN_005 WAG 4.79 g/t to production Au status ▪ Exploration focus to extend Falcon trend south BELOW: Long Section across EKJV mining centres showing projected Falcon mineralisation INSET: Falcon deve
Slide 75: Kalgoorlie Exploration - Carbine
Kalgoorlie Exploration - Carbine Development ▪ Development of Paradigm open pit ▪ Definition drilling to advance open pit targets to Feasibility status ▪ Phantom ▪ Ant Hill ▪ Carbine Pit Regional Exploration Phantom ▪ Evaluate Carbine and Paradigm underground Carbine potential ▪ Extension to Carbine
Slide 76: South Kalgoorlie Exploration
South Kalgoorlie Exploration In-Mine Exploration Regional Exploration ▪ Core exploration focus on NOZ and Mutooroo northwards and down ▪ Regional exploration centred on all major plunge structural corridors and historical production ▪ Potential in parallel adjacent surfaces to SOZ-COZ-NOZ corridor c
Slide 77: Fimiston Open Pit Growth Potential
Fimiston Open Pit Growth Potential ▪ Historical drilling and drilling completed since the new JV ownership demonstrates significant upside potential both within and outside of the current Resource optimisation FIMISTON CROSS SECTION A-B 47,800mN A B ABOVE: Plan view of Fimiston cutback stages with t
Slide 78: Fimiston Underground
Fimiston Underground ▪ Deep drilling beneath the June 2020 Open Pit Resource demonstrates the continuity of Fimiston mineralisation at depth, providing future underground targets FIMISTON LONG SECTION FIMISTON CROSS SECTION 47,500mN 47,500mN ABOVE: Long projection of the Fimiston deposit showing ext
Slide 79: Tanami Project Exploration
Tanami Project Exploration Central Tanami Project ▪ Re-focus in historical mine corridor trends ▪ Build resource inventory from discovery potential ▪ Groundrush ▪ Groundrush extensions ▪ Ripcord ▪ Ripcord-Groundrush Gap ▪ Jims depth extension ▪ CTP Mine corridor resource extensions ▪ Funnelback, Bur
Slide 80: Northern Star Resources Limited
Northern Star Resources Limited ASX Code: NST An Australian gold miner – for global investors Investor Enquiries: Kurt Walker Level 1, 388 Hay Street, Subiaco 6008 Western Australia T: +61 8 6188 2100 E: info@nsrltd.com W: www.nsrltd.com Inventum 3D Page Links click here 79
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