Northern Star Resources and De Grey Mining closed out 2023 with increased production and progress on various gold projects.
Northern Star Resources
Northern Star welcomed smooth-sailing in the December quarter, setting the miner up to meet its 2024 financial year goals.
Mining began ahead of schedule at the company’s Golden Pike North deposit, part of the Kalgoorlie Consolidated Gold Mines project (KCGM) in Western Australia.
Ore volumes and grades at KGCM are on track to increase by the second half of 2024.
The miner’s Jundee operations part of the Yandal production centre in the northern goldfields region of WA were impacted by a SAG mill bearing failure reducing throughput, which was quickly resolved.
The Pogo gold project in Alaska achieved a record mine and mill performance at a 1.4 million tonnes per annum rate.
“The value of our diversified production centres was apparent during the December quarter, with an exceptional performance at Kalgoorlie and continuous improvement at Pogo offsetting some operational challenges at Yandal,” Northern Star managing director Stuart Tonkin said.
De Grey Mining
De Grey ended the December quarter on a high with its highly anticipated Hemi gold project in WA on track.
The explorer shored up $300 million for the project through an equity placement it said was a result of strong demand from leading global investor groups.
The cash injection will provide De Grey with endorsement for the outcome of its definitive feasibility study at Hemi, which was started in September 2023.
At the same time the company was granted a mining lease for Hemi and has since worked towards developing the site for a final investment decision by the end of 2024.
Over the last quarter De Grey upped Hemi’s resources to 12.7 million ounces due to significant depth and strike extensions at the project’s Eagle deposit.
Since then, the company has progressed environmental approvals and successfully bid for development camp facilities to support early works for its worker villages.
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