(Kitco News) - Northern Star Resources (ASX: NST), a senior global gold producer, reported today that the company produced 366,641 ounces of gold in September quarter 2022, which is slightly lower than the prior year quarter (373,475 ounces).
The company said that its Australian operations delivered in line with expectations, adding that commissioning of Thunderbox mill continues with nameplate capacity expected in 2H23.
Pogo continues to perform at nameplate capacity of 1.3Mtpa, sustaining 4Q22 mining and milling rates, albeit at lower than expected grades; improvements to underground infrastructure and grade increase due in 2H23.
Northern Star noted that overall, the September quarter performance was slightly below plan with delayed production expected to be recovered in future quarters (Thunderbox mill commissioning and Pogo grade).
Importantly, the company reiterated that its FY22 guidance of 1.55-1.65Moz at an AISC of A$1,475-1,575/oz is unchanged.
"As previously foreshadowed, gold production is weighted towards the second half of FY22, driven by increasing grades at Yandal and increasing mining rates at Pogo. AISC is expected to decrease over the year," it said.
Northern Star indicated it is a global-scale Australian gold producer that owns and operates three world-class gold production centers (Kalgoorlie, Yandal and Pogo), located in prospective geological settings in the low sovereign risk jurisdictions of Australia and North America.
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