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2026-11-06
◂ Monitor NST ASX

Northern Star Resources Ltd

Ramping Producer · Gold · AU · US Rating locked: sign in to view v8 · nst-20261024t160246-full
Last 2026-11-06
A$25.65
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A$36.5B
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A$36.5B
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A$1B
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A$1.4B
2 newer ASX announcements not yet reflected in this valuation

People, delivery and responsibility

Management background checks

Evidence through 2026-10-31

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

Northern Star has a newly commenced CEO and announced CFO succession. Corporate safety prosecutions and former-employer operating setbacks are material, with precise limits on personal attribution.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Suresh Vadnagra

Chief Executive Officer and Managing Director

Current
Role FitAnalyst Inference · Medium materiality

Experience relevant to role

Previously Head of Nickel and Zinc Industrial Assets at Glencore, Chief Technical and Projects Officer at Newcrest and operational leadership at MMG, Iluka and BHP; issuer reports engineering and MBA qualifications. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Responsibility not applicable · The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Our board and management · Board and Management biography
Appointment of managing director and CEO · Page 1, previous career and appointment
EnvironmentIssuer Reported · Medium materiality

Las Bambas community concerns and route interruption

MMG described 2018 community complaints concerning road use, noise, dust and vibration, a blockade and discussions involving communities, the government and company. Vadnagra signed the report as operations executive. MMG described its own efforts to resolve the dispute; those statements are its account.

Role overlaps event; causation unproven · The documented operations role overlaps the dispute; sources do not establish individual fault.

Las Bambas sustainability report 2018 · Executive letter, pages 10-11
Evidence gaps · 2
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Full background report

Suresh Vadnagra

Chief Executive Officer and Managing Director

Career chronology

Environmental record

Las Bambas community concerns and route interruption

2018-2019 · issuer reported · medium materiality

MMG described 2018 community complaints concerning road use, noise, dust and vibration, a blockade and discussions involving communities, the government and company. Vadnagra signed the report as operations executive. MMG described its own efforts to resolve the dispute; those statements are its account.

Attribution: Role overlaps event; causation unproven. The documented operations role overlaps the dispute; sources do not establish individual fault.

Relevance: Operational and community-relations experience under contested conditions.

Las Bambas sustainability report 2018 (Executive letter, pages 10-11)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · medium materiality

Previously Head of Nickel and Zinc Industrial Assets at Glencore, Chief Technical and Projects Officer at Newcrest and operational leadership at MMG, Iluka and BHP; issuer reports engineering and MBA qualifications. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

Our board and management (Board and Management biography); Appointment of managing director and CEO (Page 1, previous career and appointment)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Ryan Gurner

Chief Financial Officer; announced departure 30 November 2026

Current
GovernanceIssuer Reported · Medium materiality

CFO transition planned

The 31 August 2026 issuer notice said Gurner would return to the CFO role after the CEO commenced on 5 October and leave on 30 November; Northern Star said it would recruit a successor.

Individual involvement documented · The transition concerns his employment; the notice gives no adverse reason for departure.

Executive leadership changes · Page 1, Chief Financial Officer
Company SuccessIssuer Reported · Medium materiality

FY2026 company results

Northern Star reported FY2026 revenue of A$7.6 billion, up 19%, and net profit after tax of A$1.7 billion, up 24%. The company noted a higher realised gold price.

Role overlaps event; causation unproven · Gurner was CFO during the year; market prices and wider management materially affect financial results.

FY2026 annual report · Printed pages 4 and 28
Evidence gaps · 3
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.
  • A named permanent CFO successor was not identified from the sources reviewed.

Full background report

Ryan Gurner

Chief Financial Officer; announced departure 30 November 2026

Career chronology

  • Northern Star since 2015; acting CEO 29 August to 5 October 2026: Northern Star Resources — Chief Financial Officer; former interim CEO. FY2026 annual report (Printed page 14)

Contributions and company outcomes

FY2026 company results

FY2026 · issuer reported · medium materiality

Northern Star reported FY2026 revenue of A$7.6 billion, up 19%, and net profit after tax of A$1.7 billion, up 24%. The company noted a higher realised gold price.

Attribution: Role overlaps event; causation unproven. Gurner was CFO during the year; market prices and wider management materially affect financial results.

Relevance: Context for finance leadership without attributing company performance to one person.

FY2026 annual report (Printed pages 4 and 28)

Governance and interests

CFO transition planned

2026 · issuer reported · medium materiality

The 31 August 2026 issuer notice said Gurner would return to the CFO role after the CEO commenced on 5 October and leave on 30 November; Northern Star said it would recruit a successor.

Attribution: Individual involvement documented. The transition concerns his employment; the notice gives no adverse reason for departure.

Relevance: Potential continuity and succession consideration.

Executive leadership changes (Page 1, Chief Financial Officer)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports finance experience with RTG Mining and other companies, a science and commerce degree and Chartered Accountants membership. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 14); De Grey scheme booklet (Section 6 senior management, printed page 65, Gurner prior employers)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

  • A named permanent CFO successor was not identified from the sources reviewed.

Simon Jessop

Chief Operating Officer

Current
SafetyDocumented · High materiality

Whirling Dervish fatality and corporate convictions

A Byrnecut worker died in July 2020 at Whirling Dervish. In December 2023 Northern Star (Carosue Dam), successor to the prior mine operator, and contractor Byrnecut pleaded guilty and were fined A$700,000 and A$850,000 respectively; a supervisor received a separate fine.

Role overlaps event; causation unproven · Jessop was Saracen COO; the cited convictions concern the companies and a mine supervisor, not Jessop.

Whirling Dervish safety prosecution · Whirling Dervish prosecution
De Grey scheme booklet · Senior management biography
Saracen and Northern Star scheme booklet · Sections 5.8 and 7.8, fatality and COO biography
SafetyAlleged · High materiality

Thunderbox fatality and pending company charges

WorkSafe alleges a worker died after cyanide exposure at Thunderbox in August 2024. In August 2026 it charged Northern Star Resources, Northern Star Thunderbox and the worker employer with separate offences. ABC reported that lawyers for Northern Star Resources and Coogee entered no pleas at the September hearing and the matter was adjourned until November; the outcome of the charges was not established by the cutoff.

Role overlaps event; causation unproven · Jessop had company-wide operations and safety responsibilities. The cited charges concern companies; the sources reviewed do not establish a personal allegation or conviction against him.

Companies in court over workers death · Companies in court section
FY2026 annual report · Printed page 15, executive responsibilities
SafetyDocumented · Medium materiality

2023 maintenance injury and subsidiary conviction

WorkSafe records that Northern Star Mining Services pleaded guilty and received a A$750,000 global fine in April 2025 for breaches following a January 2023 serious maintenance injury. WorkSafe describes subsequent isolation training and barricading changes.

Role overlaps event; causation unproven · Jessop held a company-wide COO role; no source attributes personal responsibility for the incident to him.

Evidence gaps · 3
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.
  • Final Thunderbox prosecution outcome is unknown as at the research cutoff; the companies had not entered pleas at the September hearing.

Full background report

Simon Jessop

Chief Operating Officer

Career chronology

Industrial safety

Whirling Dervish fatality and corporate convictions

2020 incident; 2023 sentences · documented · high materiality

A Byrnecut worker died in July 2020 at Whirling Dervish. In December 2023 Northern Star (Carosue Dam), successor to the prior mine operator, and contractor Byrnecut pleaded guilty and were fined A$700,000 and A$850,000 respectively; a supervisor received a separate fine.

Attribution: Role overlaps event; causation unproven. Jessop was Saracen COO; the cited convictions concern the companies and a mine supervisor, not Jessop.

Relevance: Material former-employer mine safety record during operations leadership.

Whirling Dervish safety prosecution (Whirling Dervish prosecution); De Grey scheme booklet (Senior management biography); Saracen and Northern Star scheme booklet (Sections 5.8 and 7.8, fatality and COO biography); Two companies and supervisor fined after mine fatality (Corporate name change and fines)

Thunderbox fatality and pending company charges

2024 incident; 2026 charges · alleged · high materiality

WorkSafe alleges a worker died after cyanide exposure at Thunderbox in August 2024. In August 2026 it charged Northern Star Resources, Northern Star Thunderbox and the worker employer with separate offences. ABC reported that lawyers for Northern Star Resources and Coogee entered no pleas at the September hearing and the matter was adjourned until November; the outcome of the charges was not established by the cutoff.

Attribution: Role overlaps event; causation unproven. Jessop had company-wide operations and safety responsibilities. The cited charges concern companies; the sources reviewed do not establish a personal allegation or conviction against him.

Relevance: Recent material operations and safety issue, with legal outcome pending.

WorkSafe commences multiple prosecutions (Mine incident); Companies in court over workers death (Companies in court section); FY2026 annual report (Printed page 15, executive responsibilities)

2023 maintenance injury and subsidiary conviction

2023 incident; 2025 conviction · documented · medium materiality

WorkSafe records that Northern Star Mining Services pleaded guilty and received a A$750,000 global fine in April 2025 for breaches following a January 2023 serious maintenance injury. WorkSafe describes subsequent isolation training and barricading changes.

Attribution: Role overlaps event; causation unproven. Jessop held a company-wide COO role; no source attributes personal responsibility for the incident to him.

Relevance: Shows operational safety controls and documented response.

Northern Star Mining Services prosecution summary (Pages 1-3); FY2026 annual report (Printed page 15)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Northern Star reports he previously was Saracen COO and held management positions at Evolution, Panoramic and Byrnecut, with mining engineering and survey degrees. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 15)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

  • Final Thunderbox prosecution outcome is unknown as at the research cutoff; the companies had not entered pleas at the September hearing.

Steven McClare

Chief Technical Officer

Current
FailureIssuer Reported · Medium materiality

Kanmantoo rock fall and revised plan

Hillgrove reported a December 2018 open-pit rock fall, subsequent restriction and remediation; by January 2019 the inspector lifted the restriction. Hillgrove estimated modified pit design could reduce remaining recovered copper by about 10%.

Role overlaps event; causation unproven · McClare was Hillgrove CEO; no cited determination of personal fault.

Evidence gaps · 2
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Full background report

Steven McClare

Chief Technical Officer

Career chronology

Business failures and setbacks

Kanmantoo rock fall and revised plan

December 2018 to January 2019 · issuer reported · medium materiality

Hillgrove reported a December 2018 open-pit rock fall, subsequent restriction and remediation; by January 2019 the inspector lifted the restriction. Hillgrove estimated modified pit design could reduce remaining recovered copper by about 10%.

Attribution: Role overlaps event; causation unproven. McClare was Hillgrove CEO; no cited determination of personal fault.

Relevance: Prior project operating setback and company response.

Kanmantoo mine rock fall update (Page 1)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports prior executive roles with OZ Minerals and Hillgrove CEO and mining engineering degree. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 16)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Hilary Macdonald

Former company secretary; legal-officer continuity unconfirmed

Departed
GovernanceDocumented · Medium materiality

Retirement from company-secretary role

The company announced Hilary Macdonald would retire as company secretary on 30 September 2026 and Joanne McDonald would become sole secretary. The announcement does not expressly specify the separate chief legal officer end date.

Individual involvement documented · This finding is limited to the specific role in the announcement.

Evidence gaps · 3
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.
  • The issuer announced retirement from the company secretary role but did not separately state the date or status of the chief legal officer role.

Full background report

Hilary Macdonald

Former company secretary; legal-officer continuity unconfirmed

Career chronology

  • Company secretary 2018 to 30 September 2026: Northern Star Resources — Chief legal officer and former company secretary. FY2026 annual report (Printed page 15)

Governance and interests

Retirement from company-secretary role

September 2026 · documented · medium materiality

The company announced Hilary Macdonald would retire as company secretary on 30 September 2026 and Joanne McDonald would become sole secretary. The announcement does not expressly specify the separate chief legal officer end date.

Attribution: Individual involvement documented. This finding is limited to the specific role in the announcement.

Relevance: Important roster correction and legal leadership continuity gap.

Retirement of company secretary (Page 1)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports legal work since 2009, general counsel from 2016 and chief legal officer from 2021; the later notice states secretary retirement but does not separately confirm the legal role. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 15)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

  • The issuer announced retirement from the company secretary role but did not separately state the date or status of the chief legal officer role.

Joanne McDonald

Company Secretary

Current
GovernanceDocumented · Medium materiality

Sole company-secretary appointment

Northern Star announced that Joanne McDonald would become sole company secretary from 30 September 2026 following Hilary Macdonald’s retirement as company secretary.

Individual involvement documented · The company directly announced the appointment.

Evidence gaps · 2
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Full background report

Joanne McDonald

Company Secretary

Career chronology

  • Joint secretary January to September 2026; sole secretary from 30 September 2026: Northern Star Resources — Company secretary. FY2026 annual report (Printed page 17)

Governance and interests

Sole company-secretary appointment

September 2026 · documented · medium materiality

Northern Star announced that Joanne McDonald would become sole company secretary from 30 September 2026 following Hilary Macdonald’s retirement as company secretary.

Attribution: Individual involvement documented. The company directly announced the appointment.

Relevance: Governance continuity following the secretary transition.

Retirement of company secretary (Page 1)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports prior company secretary and sustainability roles at Greatland and IGO, and governance and accounting masters qualifications. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 17)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Marianne Dravnieks

Executive Manager People and Culture

Current

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Full background report

Marianne Dravnieks

Executive Manager People and Culture

Career chronology

  • Since 2021: Northern Star Resources — Executive Manager People and Culture. FY2026 annual report (Printed page 17)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer says she joined Saracen in people and culture in 2018 and assumed the Northern Star role after the merger; it reports a Curtin masters and graduate certificate. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 17)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Daniel Howe

Chief Geological Officer

Current

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 3
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.
  • Issuer sources differ on the year he became chief geological officer; primary appointment confirmation was not found.

Full background report

Daniel Howe

Chief Geological Officer

Career chronology

  • Northern Star from 2021; exact appointment year conflicted: Northern Star Resources — Chief Geological Officer. FY2026 annual report (Printed page 17)

Governance and interests

Geology appointment chronology differs

2021-2022 · documented · low materiality

The FY2026 annual report describes appointment as chief geological officer after a 2022 merger; the 2025 scheme booklet places the Saracen merger in 2021 and says he was appointed following it. The exact appointment date is not settled by these citations.

Attribution: Responsibility not applicable. The discrepancy is in issuer chronology and does not imply wrongdoing.

Relevance: Keeps the role date transparent.

FY2026 annual report (Printed page 17); De Grey scheme booklet (Printed page 66)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports Saracen geological leadership from 2011 and geology qualifications. Its annual report refers to a 2022 appointment while the earlier scheme booklet refers to the 2021 merger. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 17)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

  • Issuer sources differ on the year he became chief geological officer; primary appointment confirmation was not found.

Sophie Spartalis

General Manager Investor Relations

Current

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Full background report

Sophie Spartalis

General Manager Investor Relations

Career chronology

  • Since 2021: Northern Star Resources — General Manager Investor Relations. FY2026 annual report (Printed page 16)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports equity-market and mining analyst experience, and engineering and science degrees. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 16)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Rebecca Ciotti

Executive Manager Corporate Services

Current

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Independent university, professional membership and credential verification remains incomplete.
  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.

Full background report

Rebecca Ciotti

Executive Manager Corporate Services

Career chronology

  • Since 2014: Northern Star Resources — Executive Manager Corporate Services. FY2026 annual report (Printed page 16)

Personal achievements

Industry group vice-chair appointment

2025 · documented · low materiality

Gold Industry Group reported Ciotti’s appointment as vice chair in February 2025.

Attribution: Individual involvement documented. The organisation names her directly.

Relevance: Shows external industry governance role; does not establish outcomes by itself.

Gold Industry Group appoints new leadership (Announcement, leadership appointments)

Suitability for the current role

Experience relevant to role

Career to 2026 · analyst inference · low materiality

Issuer reports corporate services and communications roles, a science degree, and Gold Industry Group board membership. On its face this experience is relevant to the role; the degree and employment claims are issuer-reported and are not independently verified.

Attribution: Responsibility not applicable. The relevance assessment is an analytical judgment; independent credential and full career checks remain incomplete.

Relevance: Assesses disclosed experience relevant to role.

FY2026 annual report (Printed page 16)

Evidence gaps

  • Independent university, professional membership and credential verification remains incomplete.

  • Comprehensive prior-employer chronology, company outcomes and court, regulator, fraud, safety and environmental searches remain incomplete.