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Northern Star Resources reports solid quarter at Australian mines

Mining News - Published on Fri, 25 Jan 2019

Image Source: WA Business News
Northern Star Resources Limited has reported a solid December quarter during which its Australian operations, despite being impacted by weather events, performed in line with expectations and strong productivity gains were made at its Pogo mine in Alaska. Total gold sales in the December quarter were 210,561oz, taking sales for the six months to December 31 to 423,243oz. As a result, the Company remains on track to achieve its FY2019 production guidance of 850,000-900,000 oz. The Company's second half is budgeted to be much stronger than the first half.

During the December quarter, gold sold at the Australian operations totalled 153,027oz at an AISC of A$l,246/oz (US$897/oz). The performance of the Australian operations reflects in part Northern StaKs strategic decision to mine lower grade ore. This decision was taken because the significantly higher gold price allowed margins to be maintained despite the lower grades and higher costs. Kalgoorlie ore development tonnes increased 41% from the prior quarter and made available multiple new mining areas. The performance also reflects the mine sequences at Jundee and Kalgoorlie. Given the mine sequences expected to be encountered in this half, the FY2019 production guidance for the Australian operations is unchanged at 600,000-640,OOOoz.

Group FY2019 production guidance maintained; AISC guidance increased by A$75/oz following increased upfront investment to capitalise on growing opportunities at Pogo and the higher Australian gold price

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Posted By : Rabi Wangkhem on Fri, 25 Jan 2019
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