Northern Star misses target
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.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation