What’s up with Northern Star’s (ASX:NST) shares today?

November 10, 2022 12:28 PM AEDT | By Tamnna

What’s up with Northern Star’s (ASX:NST) shares today? — Image source: © Elultimodeseo | Megapixl.com

What’s new in the gold stocks market?

The gold stocks market is under the shadow of speculations of the US ceasing its interest rate hikes after four consecutive cycles. Recent aggressive rate hikes in the US had a negative impact on the price of gold.

A sneak peek at Northern Star’s Q1 FY23 update

Last month, Northern Star Resources published its Q1 FY23 results; below are the key takeaways from the official ASX filing:

For the quarter ended 30 September, the company reported net cash of AU$173 million with a bullion of AU$473 million.
The group’s net mine cash flow remained positive.
Northern Star paid AU$132 million in final dividend along with a stamp duty payment of AU$155 million.
During Q1 FY23, the company commenced its AU$300 million on-market share buyback programme, 15% of the shares have already been bought back.
Northern Star managed to keep its FY23 guidance unchanged, 1,560-1,680koz gold sold at an AISC (all-in sustaining costs) of AU$1,630-AU$1,690/oz (2H weighted).
As per the report, the company also maintained its FY23 growth capital and exploration budget of AU$650 million and AU$125 million, respectively.
Northern Star’s production during Q1 FY23 was 369koz at an AISC of AU&1,788/oz and AIC (all-in costs) of AU$2,361/oz.
The Thunderbox mill's nameplate capacity is anticipated to be reached in the second half of FY23, while Pogo’s nameplate capacity remained at 1.3Mtpa.
The production numbers for Kalgoorlie, Yandal, and Pogo sites were 215,224oz (sold at an AISC of A$1,762/oz), (sold at an AISC of A$1,584/oz), 51,170oz (sold at an AISC of US$1,581/oz), respectively.

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