Northern Star Resources says a record June quarter brought its free cash flow for the 2015 financial year to an unaudited $183 million.
The company has announced it now holds $178 million in cash, bullion and investments, a significant jump from the $96 million it held last year.
This comes despite spending $82.5 million on the July acquisition of the Jundee mine, $50 million on exploration over the year, and $20 million retiring its remaining bank debt in April.
In a record June quarter, Northern Star sold 152,447 ounces of gold, contributing to a 580,784oz total for the full financial year.
The company has paid $26.4 million in fully-franked dividends, at 4.5 cents per share, over the course of the year.
Managing director Bill Beament said that the company’s success reflected an emphasis placed on shareholder returns rather than on production volumes.
“We say that we are a business first and a mining company second … the real test of any mining company’s performance is what happens to its bank account and that of its shareholders,” he said.
The company spent $15.9 million on drilling and exploration in the June quarter.
Mr Beament said that Northern Star’s exploration program was having strong results.
The company’s share price today remained unchanged at $2.20.