PERTH (miningweekly.com) – Gold miner Northern Star Resources on Thursday reported that the company was on track to meet its full-year production targets, despite posting a slight decline in its March quarter production.
Gold production for the three months under review declined to 135 498 oz, from 142 556 oz in the previous quarter, owing to lower output from the Jundee and Kundana operations, both in Western Australia.
The Jundee gold mine delivered 54 933 oz of gold during the quarter, down from the 65 603 oz produced during the previous quarter, while the Kundana mine produced 23 988 oz during the March quarter, down from the 29 538 oz produced in the December quarter.
The Kanowna Belle operation, also in Western Australia, produced 22 701 oz of gold during the quarter, compared with 21 892 oz in the previous quarter, while production from the Plutonic mine increased from 20 494 oz to 22 757 oz. The Paulsens gold mine produced 15 671 oz, down slightly from the 16 179 oz produced in the previous quarter.
Despite the decrease in production, Northern Star has maintained its full-year production guidance of between 550 000 oz and 600 000 oz.
Gold sales for the quarter reached 135 498 oz, compared with the 142 556 oz sold in the previous quarter, generating revenue of A$203.3-million.
Northern Star MD Bill Beament said that the combination of strong cash flow, no debt and a diversified asset base meant that the company had the ability to undertake value accretive acquisitions, while funding its exploration campaign.