Northern Star is on the brink of a gold explosion, with March sales hinting at record-breaking production for the 2025-26 financial year (FY26).
The miner sold 381,000 ounces of gold in the March quarter, keeping it on track to surpass 1.5 million ounces for the year. Nine months into FY26, Northern Star has already delivered 1.11 million ounces, signalling strong momentum.
The company said production results remain particularly dependent on mill throughput at Kalgoorlie Consolidated Gold Mines (KCGM), leaving room for both upside and downside.
Northern Star’s new KCGM mill is on schedule for early FY27 commissioning, which is expected to further boost output and strengthen its long-term growth trajectory.
‘While the company is not currently experiencing any supply issues with diesel fuel, this remains a focus for the business and a key risk for the broader mining industry in Australia,” the company said.
“Northern Star will continue to actively manage and monitor the situation and will provide an update should there be a material change.”
Adding to shareholder appeal, Northern Star confirmed an on-market share buy-back program of up to $500 million. The company said there is no guarantee the full buy-back will be executed, reserving the right to pause or terminate the program at any time.
“Today’s announcement reflects our confidence in the strength of our business, the structural uplift in cash generation expected from the commissioning of the KCGM mill expansion and the compelling value we see in our share price,” Northern Star managing director Stuart Tonkin said.
“The on-market buy-back, representing up to 1.6 per cent of issued share capital, is an efficient way to return capital to shareholders while also being immediately earnings and value accretive. We believe current share prices do not fully reflect the quality and future potential of our assets.”
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