Northern Star Resources Ltd
Northern Star Resources Ltd
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Australian major Northern Star Resources is confident of making up the losses in the coming three months after processing plant issues at its Kalgoorlie Super Pit and at its Pogo operations in the USA cut its March qtr (Q3FY23) gold sales to 363,081oz, from 404,287oz in the previous period.
The lower than forecast production, due to extended mill downtime at Kalgoorlie Consolidated Gold Mines and Pogo, lifted its AISC to $A1,813oz (Q2: $1,746/oz).
A scoping study has outlined annual production of 115,000oz gold over a 9-year life for the Central Tanami project, a 50-50 JV between explorer Tanami Gold and major producer Northern Star Resources over 2,211sqkm tenement area 650km NW of Alice Springs in Australia.
Northern Star Resources is predicting a likely impact of 20,000-40,000oz on FY23 gold production at its Pogo operations in the USA due to the failure of a ball mill motor.
The Australian-based major says the ball mill motor tripped during the restart of operations following a routine shutdown last week at the project, 145km SE of Fairbanks in Alaska. Repairs to the ball mill motor are currently expected to take up to six weeks.
Australian gold major Northern Star expects its forecast lift in group production and continuing costs focus across its three operating centres will further grow its cash position to maintain its strong financial position to the end of June 2023.
NST’s weighted second half expectations mean Dec half-year sales of 773,243oz (H1FY22: 778,815oz) at AISC of $A1,766/oz ($1,613/oz) keep it on track to meet its FY23 guidance of 1.56-1.68Moz at $1,630-1,690/oz.
Australian mining services specialist Ausdrill will have up to 14 production blast hole drill rigs in operation at the Kalgoorlie Superpit under a new surface mining contract awarded by Northern Star Resources.
The 60-month deal is worth about $A160M, the Perenti Group company’s largest ever surface contract in Australia. It continues a relationship with the iconic Fimiston mine that began with one of Ausdrill's earliest contracts, comprising two rigs, in 1987.
Explorer Black Cat has claims to hold two of Australia’s highest-grade gold deposits with the posting of an underground resource of 258,000oz (742,000t @ 10.8g/t) at its 100%-owned Paulsens operations in WA.
Black Cat acquired both Paulsens in the East Pilbara region and its Coyote Central project in the Tanami region, which holds 356,000oz @ 14.6g/t, from major Northern Star in 2022.
The underground Paulsens resource lifts the total Paulsens gold operation by 73% to 401,000oz (3.8Mt @ 3.3g/t).
Australian mining and engineering services company SRG Global has extended its working relationship with gold major Northern Star Resources, securing contracts that now cover its Kalgoorlie Super Pit, Thunderbox, Carosue Dam and Bronzewing operations.
The deals, worth about $A220M, include a new 5-year contract at Bronzewing and a 2-year extension at Thunderbird and Carosue Dam covering drill and blast, explosives management and grade control drilling.
Australian gold major Northern Star Resources is maintaining its FY23 guidance while relying on a stronger second half after posting Dec qtr (Q2) sales of 404,000oz gold at AISC of $A1,746/oz, improving on its Q1 result of 369,000oz at $1,788/oz.
It still expects to meet its target for the year to end-June 2023 of 1.56-1.68Moz gold at $1,630-1,690/oz.
West Australian developer Black Cat Syndicate has outlined one of the country’s highest-grade gold deposits in a resource update for the Coyote Central, part of the mothballed Coyote operation in the Tanami region it acquired last year from Northern Star Resources.
MD Gareth Solly says a new geology model and the results of five months of drilling has delivered a JORC 2012 mineral resource of 424,000oz (1.5Mt @ 8.8g/t) at Coyote Central, including an underground resource of 356,000oz (757,000t @ 14.6g/t).
Australian gold major Northern Star is confident production delays that constrained its Sept qtr (Q1FY23) sales to 368,956oz, down from 402,069oz in the previous period, will not derail its FY23 guidance of 1.56-1.68Moz.
Despite AISC rising to $A1,788/oz (Q4FY22: $1,650/oz), the company has also maintained its FY forecast of $1,630-1,690/oz.