Full Year 2021 Northern Star Resources Ltd Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division - Analyst : I refer to CapEx guidance specifically on Page 13. Here, it appears that CapEx is for the upcoming year, $682 million gross, $570 million net, which compares to the $570 million announced back at the Strategy Day. I just want to understand this a bit more. And there's also a footnote there that suggests the accounting standard change in FY '23. So this isn't going forward. Can guys confirm the Strategy Day guidance of FY '23 and FY '24 of $425 million and $380 million, respectively, is therefore both gross and net?

Question: Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division - Analyst : All right. And could you finalize...

Question: Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division - Analyst : Okay. That's important to know. And which assets are these development receipts going to be at? And can you tell us the expected ounces and the price assumption you've used there because obviously the price assumption might be different?

Question: Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division - Analyst : Yes. And last question is on the dividend. So you've changed the dividend policy and now focusing on cash earnings, which take into account sustaining CapEx but not growth CapEx. Can you just talk about how you came up with the dividend policy and why you haven't done, say, overall free cash flow, for instance?

Question: Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division - Analyst : Just wanted to ask some question about how you're going to report going forward. I think you were talking about reporting under the 3 assets, which is Kalgoorlie, Yandal and Pogo. Can you just confirm that you have definitely layer on that and the reasoning behind it?