Northern Star hits yearly 600,000oz gold production target

Northern Star Resources successfully hit its annual gold production target rate of 600,000oz, following an $80 million acquisition of the 1.2Mt/y South Kalgoorlie mill and $33 million expansion in March 2018.

Production for the June quarter to date is 150,000oz, which means that the company is expecting to exceed its 2018 financial year (FY2018) target of 540,000-560,000oz, having narrowed down its previous forecast of 525,000oz–575,000oz following the close fruition of its April expansion plans.

Northern Star executive chairman Bill Beament said, “[The] additional milling capacity provides increased flexibility in Kalgoorlie, where we have also just declared commercial production at the Millennium mine.”

“At Jundee, we are experiencing a similar scenario, with the processing plant now running at the rate of 2Mtpa on fresh underground ore.”

The Jundee mine in Western Australia produced 67,505oz during the three months, while output at the Kalgoorlie Gold Operations was 66,916oz.

All-in sustaining costs will be within the guidance range of A$1000-1050/oz.

The Perth-based miner was committed to an organic growth strategy through exploration and development since more than two years ago.

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