Northern Star Resources is aiming to unlock the next phase of growth, targeting up to 1.65 million ounces of gold production in fiscal 2027 as commissioning commences at its expanded Kalgoorlie Consolidated Gold Mines (KCGM) processing facility.
The gold miner posted a record underlying net profit after tax (NPAT) of AU$1.8 billion for the full year ended June 30, up 26 per cent year-on-year from AU$1.41 billion.
Revenue surged 19 per cent to AU$7.6 billion, driven by a 26 per cent increase in the average realised gold price to AU$4,925 per ounce, which comfortably offset a 6 per cent drop in gold sold to 1.54 million ounces from 1.63 million ounces in 2025.
Underlying earnings reached AU$4.3 billion, supported by an operating cash flow of AU$3.2 billion. The board declared a fully franked final dividend of 30 cents per share, bringing the total 2026 dividend payout to 55 cents per share, alongside an ongoing AU$500 million on-market share buy-back program.
Looking ahead, Northern Star expects FY27 to mark a strategic inflection point as it transitions from heavy capital investment toward operational execution.
“We are at an important inflection point for Northern Star,” said Northern Star Managing Director Stuart Tonkin.
“The KCGM Mill Expansion marks a significant milestone for the company, with the expanded processing plant expected to deliver greater operational consistency and reliability, while supporting a significant increase in free cash generation as it ramps up.”
The company expects gold production to hit 1,500 to 1,650 thousand ounces at an all-in sustaining cost of AU$3,050 to AU$3,450 per ounce, reflecting global inflation, higher royalty costs from record gold prices, and lower-grade stockpile drawdowns.
Gold output is weighted heavily toward the second half following planned September quarter maintenance shutdowns.
KCGM production is expected to reach 550 to 650 koz, accounting for early-stage commissioning variability as the plant ramps up to its 27 million tonne per annum capacity.
Group capital investment is projected at AU$2.55 billion to AU$2.935 billion, including A$1.7 billion to A$2.02 billion in growth capital and A$230 million to A$250 million for exploration.
