PERTH (miningweekly.com) – Gold miner Northern Star Resources has reported a strong December quarter, with production at the top end of guidance.
Northern Star produced 145 253 oz of gold during the three months ended December, at an all-in sustaining cost of A$1 040/oz, which was at the upper end of its full 2016 guidance of 535 000 oz to 570 000 oz, while costs were below the full-year guidance of A$1 050/oz to A$1 100/oz.
“We produced gold at a rate of 580 000 oz/y in the December quarter, and we did this at an all-in sustaining cost of A$1 040/oz, compared with the current gold price of around A$1 500/oz,” said Northern Star MD Bill Beament.
“This has enabled us to continue growing our cash balance while also paying dividends and investing in an organic growth strategy that will see us increase production to 700 000 oz/y without losing our debt-free status.”
During the quarter under review, Northern Star sold a total of 142 017 oz of gold, at an average realised price of A$1 484/oz.
Edited by: Creamer Media Reporter
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