An increase in gold sales and higher gold prices has seen miner Northern Star report record underlying net profit for the full year ended June, with the company declaring a special divided.
Underlying net profit after tax for the 2020 financial year reached a record A$291-million, up 69% on the A$171.9-million reported last year, while group earnings before interest, taxes, depreciation and amortisation was up 55% to a record A$745.4-million, from A$479.7-million in 2019.
A record 900 388 oz of gold was sold in the 2020 financial year at an average price of A$2 208/oz, compared with the A$1 764/oz gold price achieved in 2019, while gold production in the full 2020 reached 905 177 oz.