Northern Star Resources Ltd · ASX:NST

Northern Star Resources — Technical Presentation (August 2024)

38 slides from Northern Star Resources's technical presentation, Aug 5, 2024

  1. Slide 1: KCGM Site Visit Presentation August 2024

    For personal use only KCGM Site Visit Presentation August 2024

  2. Slide 2: Forward Looking Statements, Reserves and Resources

    Forward Looking Statements, Reserves and Resources For personal use only Forward Looking Statements Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completene

  3. Slide 3: KCGM Operations

    For personal use only KCGM OPERATIONS

  4. Slide 4: Our key global gold asset

    Our key global gold asset For personal use only KCGM % NORTHERN STAR GROUP 100% ownership ALASKA POGO 437koz KCGM 27% AUSTRALIA FY24 Gold Sold YANDAL 32Moz KALGOORLIE KCGM 52% KALGOORLIE Mineral Resource PRODUCTION CENTRE KCGM Carosue Dam 13Moz KCGM 63% Kalgoorlie Ops Ore Reserve 4

  5. Slide 5: Working at KCGM

    Working at KCGM For personal use only Residential workforce (~90%) 33% 890 KCGM employees (35% Female | 65% Male) (+380 Northern Star Mining Services employees ) Operational 24 hours per day, year round Production shifts are 12 hours Successful Enterprise Agreement vote July 2024 Village accommodati

  6. Slide 6: KCGM asset overview

    KCGM asset overview For personal use only STOCKPILES ORE SOURCES OPEN PIT UNDERGROUND 137Mt @ 0.7g/t Fimiston South Mt Charlotte High grade Oroya Brownhill Fimiston UG Low grade Golden Pike North PROCESS PLANT Capacity Location Fimiston Plant EXISTING 13Mtpa Gidji Plant EXPANSION 27Mtpa Fimiston Pla

  7. Slide 7: Processing: Positioning for tomorrow

    For personal use only PROCESSING Positioning for tomorrow

  8. Slide 8: KCGM pathway to 900kozpa, a top global gold mine

    KCGM pathway to 900kozpa, a top 5 global gold mine For personal use only Produced Ounces Pathway to 650kozpa by FY26 1000 900kozpa  KCGM on track to deliver 650kozpa towards 900 the Group’s 2Moz profitable growth strategy 800 700 650kozpa Pathway to 900kozpa by FY29 600 Ounces (koz) 500  Productio

  9. Slide 9: KCGM Mill Expansion: Highlights

    KCGM Mill Expansion: Highlights For personal use only Key operational metrics 3 YR 900kozpa FY29 13Mtpa 27Mtpa build time steady state FY24-FY28 KCGM Gold Sold 1,425/oz A$ Fimiston Processing Plant PLUS YR 2 ramp-up KCGM AISC Post-tax IRR Post-tax Payback Strong Balance Sheet A$3,500/oz gold price A

  10. Slide 10: KCGM Mill Expansion: 12-month progress

    KCGM Mill Expansion: 12-month progress For personal use only July 2023 July 2024 Early works completed Initial construction infrastructure in place 10

  11. Slide 11: KCGM Mill Expansion: Construction progress by areas

    KCGM Mill Expansion: Construction progress by areas For personal use only Primary Crushing Area Concrete Works Flotation Thickener Concrete Works 11

  12. Slide 12: KCGM Mill Expansion: Foundations set

    KCGM Mill Expansion: Foundations set For personal use only 4 6 3 2 5 1 1. SAG mill 3. Flotation cells 5. Primary Crusher 2. Ball mill 4. Thickener (60M dia) 6. Coarse Ore Stockpile 12

  13. Slide 13: KCGM Mill Expansion: Major milestones

    KCGM Mill Expansion: Major milestones For personal use only FY24 and to date FY25 outlook  All critical project milestones achieved and  First Half: primary contractor established on site  CIL tank installation commences  Engineering 45% complete, reviews on track  Major equipment shipped or on

  14. Slide 14: KCGM Mill Expansion: Build schedule and cost breakdown

    KCGM Mill Expansion: Build schedule and cost breakdown For personal use only Capital Cost Breakdown (%) 81% A$1.5B FY24 $348M FY25 $500-530M FY26 ~$530-550M FY27 ~$100M of Total Project Budget Inclusive of 10% inflation 23% 34% ~36% ~7% committed & contingency 14

  15. Slide 15: KCGM stockpiles underpin Mill Expansion

    KCGM stockpiles underpin Mill Expansion For personal use only Mill Feed Sources KCGM Stockpile Balance (Mt) 30 27Mtpa 137 125 125 123 120 25 STOCKPILES 20 137Mt @ 0.7g/t High grade Ore (Mt) 15 13Mtpa Low grade 10 2020 2021 2022 2023 2024 5 Significant value in stockpiles 0 FY24 FY25 FY26 FY27 FY28 F

  16. Slide 16: Open Pit: Unlocking future mining areas

    For personal use only OPEN PIT Unlocking future mining areas

  17. Slide 17: Open pit contribution to mill feed

    Open pit contribution to mill feed For personal use only Mill Feed Sources  Open Pit Reserve grade of 1.6g/t 30  13Mtpa: Open pit feed increases with 27Mtpa Golden Pike North access 25  27Mtpa: Open pit feed lowers temporarily as trucks allocated to waste stripping 20  Life of Mine strip ratio t

  18. Slide 18: KCGM production areas

    KCGM production areas For personal use only Key mining areas: Open pit fleet:  Oroya Brownhill (East Wall)  4x PC8000 shovels  Golden Pike North (full access from 2Q FY25)  2x 9400 Excavator and 2x 994K Loaders  Fimiston South 6.5Moz (Reserve) long-term ore source  45x CAT 793F trucks (+5x 793

  19. Slide 19: East Wall Remediation (cutback) nearing completion

    East Wall Remediation (cutback) nearing completion For personal use only 4Yrs 5Yrs May 2023 32Mt Waste Enables access Movement to ~1.5Moz gold  30Mt mined to date, 2Mt remaining (94% complete)  Current: Wall remediation complete to 270RL  FY25: Wall remediation finishes at 320RL (expected 1Q) Aug

  20. Slide 20: Optimisation and technology

    Optimisation and technology For personal use only  Caterpillar 994k remote loading unlocked early access to Golden Pike North  Remote loader ~86 buckets per shift with 236kt mined from Golden Pike North  Remote loader utilised to manage geotechnical areas and blasts impacted by old underground wo

  21. Slide 21: Unlocking future open pit working areas

    Unlocking future open pit working areas For personal use only  Fimiston South cutback unlocks 129Mt of Ore Reserves @ 1.6g/t for 6.5Moz  Increasing open pit ore volumes to feed mill expansion  FY23a: 5.0Mtpa  FY24a: 8.1Mtpa  FY25e: 8-9Mtpa  FY26e: 8-9Mtpa  Large benches provide flexibility an

  22. Slide 22: Underground: Developing a world class underground

    For personal use only UNDERGROUND Developing a world class underground

  23. Slide 23: Underground high-grade ore is priority mill feed

    Underground high-grade ore is priority mill feed For personal use only Mill Feed Sources KCGM Underground Ore Tonnes 7.0 30 27Mtpa 6.0 5.0 Tonnes (Mt) 25 4.0 3.0 20 2.0 1.0 Ore (Mt) 15 0.0 13Mtpa FY24 FY25 FY26 FY27 FY28 FY29 Mt Charlotte Fimiston UG 10 KCGM Production Areas FY24 FY25 FY26 FY27 FY28

  24. Slide 24: Mt Charlotte: Growing multiple underground mining fronts

    Mt Charlotte: Growing multiple underground mining fronts For personal use only Multiple independent growth areas  Ore hauled via Sam Pearce Decline  Mine infrastructure (ventilation, dewatering, power) with upgrades ongoing  Mining areas: NOB, COB, ROB, MOB, Duke, Little Wonder, Fairplay, Hidden

  25. Slide 25: Fimiston UG: Growing multiple underground mining fronts

    Fimiston UG: Growing multiple underground mining fronts For personal use only 3 mining areas, 4 portals in FY25  Fimiston Underground drill platform portal commenced April 2021  133,500m diamond drilling completed  6,170m development metres to date  Ore hauled via Fimiston Decline (previously un

  26. Slide 26: Croesus underground development

    Croesus underground development For personal use only  Underground portal commences early 1H FY25  Ore Reserves of 4.2Mt @ 2.1g/t for 290koz  85m from surface, 50m from existing decline  Open at depth  Development of Croesus has commenced from underground  Paste mining (prior to stoping) assis

  27. Slide 27: Optimisation and upgrade works to position for growth

    Optimisation and upgrade works to position for growth For personal use only Mt Charlotte Underground Ventilation KCGM Underground Power  2020 Inherited – 340m3/s  2020 Inherited – 5MVA  2024 Increased – 955m3/s  2024 Increased – 17MVA  2025 Scheduled – 1,485m3/s  2025 Scheduled – 23MVA Fimisto

  28. Slide 28: Northern Star Mining Services: A strategic advantage

    Northern Star Mining Services: A strategic advantage For personal use only KCGM Development Metres  Our internal underground mining services +24,000 provider focused on execution  Commenced at KCGM in November 2020, with 14,630 immediate productivity improvements 6,968 7,921  Consistent growth in

  29. Slide 29: Geology: Investment drives resource growth

    For personal use only GEOLOGY Investment drives resource growth

  30. Slide 30: Continued success at the drill bit

    Continued success at the drill bit For personal use only 4 years of drilling 3,019 holes 806,077m drilled OPEN PIT UNDERGROUND STOCKPILES 7.9Moz 2.1Moz 3.1Moz Ore Reserve Ore Reserve Ore Reserves 18.8Moz 9.6Moz Mineral Resource Mineral Resource 30

  31. Slide 31: A dominant and growing asset

    A dominant and growing asset For personal use only 31.6 27.3 28.3 26.3 Mineral 66% increase 19.0 Resources since acquisition* Resources 13.2 11.6 11.9 12.2 (Moz) 9.7 Reserves Ore 36% increase (Moz) Reserves since acquisition* 2020 2021 2022 2023 2024 Discovery $14/oz Discovery Success $2/oz $17/oz $

  32. Slide 32: Investment drives underground resource growth

    Investment drives underground resource growth For personal use only Fimiston Underground  Three systems averaging 3,500oz per vertical metre  Completed 133km of underground drilling  Drilling delivered Mineral Resource addition of +1.5Moz*  Drilling enabled Maiden Reserve at Fimiston Underground

  33. Slide 33: Strategic regional opportunities for KCGM

    Strategic regional opportunities for KCGM For personal use only Large Regional Opportunities Red Hill  Maiden Ore Reserve: 0.6Moz  Mineral Resource: 1.9Moz  Large, consistent, low risk  Historic open pit Hercules, discovered 2023  Rapid acceleration of drilling activities  Drilled to +700m, re

  34. Slide 34: Advancing our winning strategy into the future

    Advancing our winning strategy into the future For personal use only  Continue to establish and grow existing underground mining areas  Underground drill platforms already established for FY25 drilling  Required development of new drill platforms to set up FY26-FY28 drilling program  Multiple di

  35. Slide 35: In Conclusion

    For personal use only IN CONCLUSION

  36. Slide 36: KCGM: The most prominent gold address in Australia

    KCGM: The most prominent gold address in Australia For personal use only  KCGM is a world-class asset that is significantly growing  Open pit and underground mines with significant installed infrastructure  Continued outstanding long-term geological potential  Mill Expansion construction on trac

  37. Slide 37: FY25 Group guidance

    FY25 Group guidance For personal use only FY25 GUIDANCE UNITS KALGOORLIE YANDAL POGO TOTAL Gold Sold koz 890 - 980 505 - 555 255 - 265 1,650 - 1,800 AISC A$/oz 1,740 - 2,000 1,930 - 2,210 US$1,395 - 1,460 1,850 - 2,100 Growth Capital Expenditure* A$M 555 - 595 285 – 307 US$60 – 65 950 - 1,020 plus K

  38. Slide 38: Northern Star: A global gold leader

    Northern Star: A global gold leader For personal use only Our Purpose To generate superior returns for our shareholders while providing positive benefits for our stakeholders through operational effectiveness, exploration and active portfolio management www.nsrltd.com 38

Northern Star Resources — Technical Presentation (August 2024) on 6ix