https://www.miningweekly.com

Northern Star misses target

28th October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner Northern Star Resources is on track to meet its full-year production guidance, despite missing its September quarter production target by 7 000 oz.

During the three months to September, Northern Star produced 110 000 oz of gold, with the miner telling shareholders on Friday that the lower production was the result of a 10% reduction in mill throughput at the Jundee operation, in Western Australia.

The September quarter production also compared with the 130 020 oz produced in the previous quarter.

During the quarter under review, the Jundee operation delivered 51 337 oz of gold, while the Kalgoorlie gold operations delivered 47 235 oz and the Paulsens gold mine delivered 15 722 oz. The Plutonic gold mine, which has been sold for A$66-million effective from the start of October, produced 20 211 oz of gold during the quarter under review.

For the full year, Northern Star is aiming to produce between 485 000 oz and 515 000 oz, with the miner budgeting production of 241 000 oz for the current half-year, with a significant increase in second-half production.

Meanwhile, MD Bill Beament pointed out that the company’s exploration strategy had delivered a 33% increase in reserves during the quarter, which was estimated at two-million ounces, after mining 611 000 oz in 2016.

“We are finding more gold and developing additional sources of ore at an impressive rate.

“These results continue to underpin our confidence in our organic growth strategy, which, in turn, will ensure we continue to generate some of the highest financial and shareholder returns on the ASX,” Beament said.

Edited by Creamer Media Reporter

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.138s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: