Northern Star Resources has reported a strong quarter, with its gold sales reaching 393,890 ounces (oz) at an all-in sustaining cost (AISC) of $2082/oz, supported by continued improvements across key production centres.
“We continue to deliver consistently strong operational results across all three production centres during the September quarter,” Northern Star managing director Stuart Tonkin said.
“As a result of the positive start into FY25 (2024–25 financial year), we are confident we will achieve our full-year production and cost guidance, providing shareholders the continued benefits of current higher gold prices.”
The company’s Kalgoorlie production centre saw the highest gold sales at 204,981oz, with an AISC of $1997/oz.
Yandal followed with 129,278oz sold at $2237/oz, while Pogo delivered 59,631oz at $1367/oz after completing major mill works.
“We generated net mine cash flow of $122 million while continuing our returns-focused capital investment program,” Tonkin said.
“Our strategic actions focus on growing production, lowering unit costs, and extending mine lives.”
Northern Star also made significant progress on its KCGM mill expansion project, with key equipment arriving on-site. The project remains on-track, with completion expected to drive production growth towards 650,000 ounces annually by FY26.
Looking ahead, the company reaffirmed its FY25 guidance of 1.65Moz to 1.8Moz of gold sold, with an AISC between $1850 and $2100/oz.
Growth capital expenditure is projected between $950 million and $1.02 billion, alongside $500 million for the KCGM mill expansion.
With a robust balance sheet, Northern Star continues to execute its growth strategy, with the company having completed 57 per cent of its $300 million share buy-back program, with $172 million paid to date.
Net cash stood at $148 million, and cash and bullion totalled $998 million at the end of the quarter.
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