Gold, News, Quarterly and half yearly results

Shooting for the Northern Star

northern star

Northern Star Resources manager director Stuart Tonkin has said the company’s June quarterly report represented a “strong operational performance”.

The company reported a spend of $26 million on exploration and $197 on growth capital, with material movement at its Kalgoorlie site up 26 per cent to 83,000 tonnes per annum (Mtpa).

“I am proud of our team for safely delivering our commitments in FY23 (financial year 2023),” Tonkin said.

“We finished the year with increasing operational momentum, meeting our full year production and cost guidance. As we look ahead to FY24 and beyond, the quarterly performance reinforces the strength and stability of Northern Star’s asset base.

“The strong operational performance has driven significant cash flow generation and we remain well-positioned to fully fund our organic growth options. We welcome the recent approval of the KCGM mill expansion, which sets up the next phase of enhancement for one of the world’s largest gold mines.”

The annualised production rate for the company was 1.7Mtpa, with a record quarterly performance at the Pogo site in Alaska of 300,000 ounces of gold sold.

“Northern Star was able to improve the AISC performance from our assets in the June quarter, reflecting the positive impact from ongoing optimisation efforts and a higher production base,” Tomkin said.

“Our focus remains steadfast on operational excellence to maximise cash generation.”

Send this to a friend