2016 Annual Financial Report CORPORATE DIRECTORY TABLE OF CONTENTS PAGE Corporate Directory Inside Cover Chairman’s Address 1 Highlights 2 Review of Operations 3 Directors' Report 15 Auditor’s Independence Declaration 26 Financial Report 27 Independent Auditor’s Report 68 Additional Information 70 Tenement Schedule 71 DIRECTORS SHARE REGISTRY Christopher Rowe (Non-Executive Chairman) Link Market Services Limited Bill Beament (Managing Director) Level 4 John Fitzgerald (Non-Executive Director) 152 St Georges Terrace Peter O’Connor (Non-Executive Director) Perth WA 6000 Australia COMPANY SECRETARY Telephone: +61 1300 554 474 Liza Carpene Website: www.linkmarketservices.com.au PRINCIPAL REGISTERED OFFICE IN AUSTRALIA HOME STOCK EXCHANGE Level 1 ASX Limited 388 Hay Street Level 40, Central Park Subiaco WA 6008 152-158 St Georges Terrace Australia Perth WA 6000 Australia Telephone: +61 8 6188 2100 Facsimile: +61 8 6188 2111 ASX Code: NST Website: www.nsrltd.com Email:
[email protected] AUDITORS Deloitte Touche Tohmastu Brookfield Place, Tower 2 123 St Georges Terrace Perth WA 6000 Australia Cover photograph (L-R): Craig Boulton (Project Manager), Robert Osboine (Jumbo Operator) and Stasi Capsanis (Underground Manager) at the Millennium Project Photographer: Melissa Drummond 2016 Annual Financial Report CHAIRMAN’S ADDRESS Dear Shareholder It was a good year to be an Australian gold miner and a great year to be a Northern Star Shareholder. The combination of the higher US-dollar gold price and lower Australian dollar provided our industry with the ideal environment to deliver strong returns for Shareholders. With this wind in our back, the onus was on us as a company to maximise the opportunity by continuing to drive down costs and to set ourselves up for the next chapter of growth by investing in exploration and development.