Northern Star Resources Limited (NST) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Northern Star December 2025 quarterly results call. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Stuart Tonkin, Managing Director and CEO. Please go ahead. 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 Jessup. As previously announced, in the December quarter, gold sold totalled 348,000 ounces at an all-in sustaining cost of AU$2,937 per ounce. A number of one-off operational events across our assets resulted in this softer performance and required us to revise FY26 production and cost guidance. With these events behind us, our team remains firmly focused on driving productivity improvements and strengthening cost discipline to deliver a stronger second half for our shareholders. Our FY26 outlook provides revised guidance of 1.6 to 1.7 million ounces of gold sold at an all-in-sustaining cost of $2,600 to $2,800 an ounce. Today, we also provide further detail for production and ASIC guidance by Production Centre. In addition, we have updated our capital expenditure forecasts across the portfolio. Operational growth capital guidance remains unchanged at $1.14 billion to $1.2 billion. ACGM's growth capital expenditure in FY26 consists of several projects designed to prepare the operation for commissioning of the newly expanded mill from FY27, and two aspects which I'd like to highlight are the KCGM Mill Expansion Project. FY26 capital expenditure is now expected to be in the range of $640 to $6...