NORTHERN STAR RESOURCES LTD — Annual Report 2018

Aug 22, 2018

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NORTHERN STAR RESOURCES LIMITED APPENDIX 4E

Preliminary Final Report Year ended 30 June 2018

Results for announcement to the market

Current Reporting Period: 12 months ended 30 June 2018 Previous Corresponding Reporting Period: 12 months ended 30 June 2017

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$’000
Revenue from ordinary activities	Up	11%	to	964,025
Net profit after tax (from continuing operations) for the period attributable to members	Up	3%	to	194,113
Net profit for the period attributable to members	Down	10%	to	194,113

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Distributions

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Amount per	Franked amount per
security	security
Interim dividend (per share)	4.5 cents	4.5 cents
Final dividend (per share)	5.0 cents	5.0 cents
Record date of final dividend	7 September 2018
Payment date of final dividend	28 September 2018
Franking	100% franked

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The financial effect of the current reporting period final dividend has not been brought to account in the financial statements for the period ended 30 June 2018 and will be recognised in subsequent financial reports.

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June 18	June 17
$	$
Net tangible asset backing (per share)	1.31	1.02

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Explanation of results

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Requirement	Title	Reference
Review of results	Operating and Financial Overview	Page 24
A statement of comprehensive income	Consolidated Statement of Profit or Loss & Other Comprehensive Income	Page 54
A statement of financial position	Consolidated Statement of Financial Position	Page 55
A statement of retained earnings	Consolidated Statement of Changes in Equity	Page 56
A statement of cash flows	Consolidated Statement of Cash Flows	Page 57
Earnings per share	Consolidated Statement of Profit or Loss & Other Comprehensive Income	Page 54

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Changes in controlled entities

On 29 March 2018, the Group gained control of Dioro Exploration Pty Ltd (‘Dioro’) as part of the acquisition of South Kalgoorlie Operations from Westgold Resources Ltd. As part of the transaction the Group also gained control of Dioro’s wholly owned subsidiaries in HBJ Minerals Pty Ltd and Hampton Gold Mining Areas Ltd. Refer to note 13 of the financial statements for further details of the transaction.

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NORTHERN STAR RESOURCES LIMITED APPENDIX 4E CONT’D

Associate and joint venture entities	Associate and joint venture entities
Associate	Principal Activities	30 June 2018
Superior Gold Inc.	Production & Development	19.2%

Associates are all entities over which the Group has significant influence but not control or joint control. Investments in associates are accounted for using the equity method of accounted after initially being recognised at cost. Refer to note 16 to the financial statements.

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----- Start of picture text ----- Joint Ventures Principal Activities 30 June 2018FMG JV Exploration 65.90%Mt Clement JV Exploration 20.00%East Kundana Production JV Exploration & Production 51.00%Kanowna West JV Exploration 87.70%Kalbara JV Exploration 67.34%West Kundana JV Exploration 75.50%Zebina JV Exploration 80.00%Acra JV Exploration 20.00%Robertson JV Exploration 40.00%Cheroona Exploration 49.00%----- End of picture text -----

The joint arrangements listed above are classified as joint operations and are not separate legal entities. They are contractual arrangements between participants for the sharing of costs and outputs and do not themselves generate revenue and profit. The joint operations are of the type where initially one party contributes tenements with the other party earning a specified percentage by funding exploration activities; thereafter the parties often share exploration and development costs and output in proportion to their ownership of joint venture assets. The joint operations are accounted for in accordance with the Group’s accounting policy set out in note 26 to the financial statements.

Audit

This Report is based on financial statements which have been audited.