Goldminer Northern Star Resources is betting on the gold price to recover as it shrugged off the sector's gloom to post a 30 per cent jump in profit.
The Western Australian Pilbara-based miner's full year net profit was $28.3 million.
Its shares climbed 8.2 per cent to 85.5 cents on Monday.
It realised an average gold price of $A1,552 a fine ounce for the 12 months to June 30, well above recent price falls to about $1,300, on costs of $1.016 an ounce.
The falling Australian dollar has helped soften the blow for local miners such as Northern Star as it has kept the price above $A1,450.
Northern Star said it expected to have $50 million to $70 million in surplus cash this year as it ramped up production by up to one-third to 100,000 to 115,000 ounces.
That assumes a resilient gold price of around $1,450 an ounce.
It increased its resource estimate for its flagship Paulsens mine to 532,000 ounces underpinning a five-year mine life.
It is paying $10 million for its final dividend at 2.5 cents a share.