AUS
NZ
UK
CA
USA
IND
Highlights:
- Northern Star Resources Limited has announced its operational and financial results for March quarter of 2022.
- The company sold 380,075 ounces of gold during the March quarter, resulting in a total sales revenue of AU$937 million.
Shares of the ASX-listed Australian Gold miner Northern Star Resources Limited (ASX:NST) were in focus on Wednesday (27 April 2022) after the company released its operational and financial results for the March quarter 2022.
Northern Star shares were spotted trading 3.623% lower at AU$9.840 per share on ASX at 10:25 AM AEST. In the last one year, the share price of Northern Star Resources Limited has fallen by 12.30%, while the stock is up over 4% year-to-date (YTD).
During the March quarter, the company sold 380,075 ounces of gold at an AISC of AU$1,656/oz and an all-in cost (AIC) of AU$2,171/oz. This resulted in a total sales revenue of AU$937 million.
Northern Star has kept its FY22 guidance for its Australian operations, which account for 85% of the Group portfolio, unchanged.
The company stated that improved KCGM plant availability and continuous high grades at Yandal will be the key drivers of planned improved performance in the June quarter.
The gold producer expects FY22 production from Pogo to be lower. As per the announcement in view of the need to accelerate mine productivity to optimise its future cost profile, Pogo will temporarily incur an elevated cost structure.
Read More: Invion (ASX:IVX) ends March quarter with notable progress in PhotosoftTM technology
Other details from the March quarter results:
- Northern Star’s FY22 gross growth capital and exploration guidance remain unchanged.
- The company has maintained its FY 2022 guidance for Gold production between 1.55 million ounces and 1.65 million ounces.
- Kalgoorlie sold 212.8koz at an AISC of AU$1,659/oz (Dec quarter 244.9koz at an AISC of AU$1,538/oz).
- KCGM sold 120koz at an AISC of AU$1,432/oz (Dec quarter 127koz at an AISC of AU$1,344/oz).
- Ore processed at KCGM was 12% lower than in the December quarter because of a planned shutdown, while several unplanned ball mill downtime events resulted in a reduced milling rate and a reduced planned run time.
- Yandal sold 109.8koz at an AISC of AU$1,444/oz (Dec quarter 102.1koz at an AISC AU$1,518/oz).
- The Thunderbox mill expansion is advancing well, with commissioning expected in the first half of FY23
- Pogo sold 57.5koz at an AISC of US$1,483/oz (Dec quarter 45.6koz at an AISC of US$1,735/oz).
- During the quarter, the company repaid AU$200 million.
- Northern Star’s Cash, bullion and liquid investments totalled AU$739 million for the March quarter.
In its decarbonisation efforts, Northern Star is on its path towards a 35% reduction in Scope 1 and 2 emissions by 2030.
Image Source: © Stevanovicigor | Megapixl.com
Divestment of Paulsens Gold Operation & Western Tanami Gold Project
On 13 April, Northern Star announced it had signed a legally binding agreement to sell its fully-owned Paulsens Gold Operation and Western Tanami Gold Project to Black Cat Syndicate Limited (ASX:BC8) for a consideration of approximately AU$44.5 million. Completion subject to conditions is targeted for the June quarter.
Read More: Jatcorp (ASX:JAT) reports strong revenue growth in March quarter
