Northern Star hits guidance amid challenges

northern star

A solid June quarter for Northern Star Resources has enabled it to meet its FY22 production and cost guidance, with 402,069 ounces of gold sold at an AISC of $1650/oz.

The figures were achieved despite a challenging environment over the past 12 months that elevated during the last quarter, while FY22 capital expenditure and exploration were lower than forecast.

Northern Star managing director Stuart Tonkin said the strong fourth-quarter performance showcased the quality of the company’s assets to adapt to all environments.

He said all three production centres – Kalgoorlie and Yandal in WA and Pogo in Alaska – achieved production guidance and demonstrated the capability for the group to operate at 1.6mozpa.

“We have maintained reliable operations over the past year and protected the health and wellbeing of our team,” he said.

“The first full year of operating as the enlarged Northern Star has provided us a true understanding of the opportunities and requirements of our assets, particularly in this inflationary environment, and resulted in us increasing our FY23 capital budget.

“Our responsible approach to growth means we will be disciplined in how and when we spend the budget, at all times focused on maximising returns.”

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).
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