Q3 2019 Northern Star Resources Ltd Activities Report Call Transcript

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

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : Just another question on Pogo, and I'm interested to learn more about the timing of the transition of the mining method. Obviously, we see impact of the delayed arrival of the fleet. And I guess, more so around what flexibility you still have to go into some of the older mining areas and target higher grades. Was it a conscious decision not to delay the change in the mining method given the fact that the new fleet haven't arrived and obviously deliver the quarter that you have? Or was it a function of the fact that there wasn't a lot of older mining areas that you could have stayed in that had the higher grade material available? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. APRIL 23, 2019 / 11:00PM, NST.AX - Q3 2019 Northern Star Resources Ltd Activities Report Call

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : Yes. Sure. And just turning to Matt's question around that profile, the shift to more stoping material and looking at the grade that was achieved in the quarter from the stoped tonnes, albeit small tonnages, the 10 grams per tonne from the stope, is that indicative of what you're anticipating going forward as you lift the mining rate? I mean if you're averaging -- you're targeting above 8 grams per tonne overall in terms of mill feed, then that certainly implies the stope's grade should be staying at that level. Is that fair?

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : Sure. And just one final question on Kalgoorlie. I saw that you have seen a step up in the grade in the March quarter but you still have a big fourth quarter to come. Can you give any indication of what that targeted either stoped grade or milled grade at Kalgoorlie is for the fourth quarter? I looked at previous June quarters and it's been closer to sort of 5 grams per tonne. You've just achieved 3.8 grams through the plant. Is that -- would it be too aggressive to be putting sort of high 4s to 5s as an expectation for the fourth quarter?

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : But I guess the ratio, again, similar to Pogo, development ore or stoped ore, is there any changing materially from the March quarter into the June quarter in terms of that ratio?

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : Just back on Pogo and the stoping. So well, obviously, the change in mine plan was one of the key opportunities you saw when you acquired the asset. It was also one of the key reservations from the market in terms of the angle of the orebody and the ability to bring in that stoping method. Can you talk at all on, for the amount of stoping work you've done to date, what the ground conditions have been like, reconciliations of the stopes? Is there anything you're seeing, that say the positive or negative versus base case when you acquired the asset? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. APRIL 23, 2019 / 11:00PM, NST.AX - Q3 2019 Northern Star Resources Ltd Activities Report Call

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : And with infill drilling that you guys are doing at the moment, is there any change though, with the enhanced data, the interpretations and geometries, anything that's coming through that would suggest any key changes versus what you guys inherited when you acquired the asset?

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : And just on the central zone, I know Bill mentioned at the -- on the February call that they'd -- you'd had an extension of the mining lease to bring in the central zone. Is that right?

Question: Mathew Hocking - JP Morgan Chase & Co, Research Division - Analyst : And Mike, from your perspective, is there an appetite for an underground drill drive as opposed to drilling from the surface? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. APRIL 23, 2019 / 11:00PM, NST.AX - Q3 2019 Northern Star Resources Ltd Activities Report Call