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Northern Star's new assets outperform expectations

Northern Star's new assets outperform expectations

Photo by Bloomberg

9th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Northern Star Resources has outperformed its production expectations during the three months to June, with the miner producing 115 819 oz of gold during the period.

MD Bill Beament said on Wednesday that the results indicated that the company was succeeding in bedding down its recent acquisitions.

In February, Northern Star settled the acquisition of the Plutonic project, while in March, it bedded down the Kundana and Kanowna Bell projects. The acquisition of the Jundee project was settled earlier this month, taking the company’s total production to between 550 000 oz/y and 600 000 oz/y.

“Production has exceeded our guidance across the board, putting us well on track to achieve our goal of being the second-biggest and one of the most profitable ASX-listed gold producers with the scale and asset diversity demanded by global institutions,” said Beament.

The Jundee project produced some 75 390 oz in the June quarter, which was not attributable to Northern Star, as the acquisition was only settled in July. If this production had been included in the June quarter figures, Northern Star’s total production for the quarter would have increased to 191 209 oz.

Edited by Creamer Media Reporter

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