Emerging gold producer Northern Star Resources has boosted first half profit by 78 per cent following increases at its Paulsens gold mine in the Pilbara.
The company booked a $22.3 million net profit for the six months to December, after it spent $21m upgrading production capacity to 100,000+ ounces a year at Paulsens.
In announcing an “excellent period” of operations Northern Star managing director Bill Beament said the company was on track to generate $85m in surplus cash for the calendar year, which it would return to shareholders as dividends.
“By having a relentless focus on productivity, which has increased 100 per cent in the past 18 months, and making financial performance our top priority, we have been able to generate strong results across all the key areas of exploration, production and cash flow,” he said.
Along with the Paulsens mine, Northern Star has interests in a number of exploration and joint venture projects focused on gold, base metals, and iron ore.
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