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Northern Star produces 363 koz of gold in March quarter, maintains FY23 production guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Northern Star Resources (ASX: NST), a senior global gold producer, yesterday reported that the company produced 362,750 ounces of gold in the March quarter of 2023, which is 5% lower than the prior year quarter (379,994 ounces).

The company said that group production was slightly lower than expected primarily because of extended mill downtime at KCGM and Pogo, which are now largely resolved, adding that Pogo mill motor repaired and resumed production in April.

The company noted that production shortfall was offset by total cost improvement, in dollar terms, across all operations.

Importantly, the company said it maintains its FY23 production guidance of 1,560-1,680koz gold sold, while AISC guidance was revised to A$1,730-1,760/oz due to operational impacts at KCGM and Pogo.

Northern Star also reported "strong" balance sheet with net cash of A$102 million at March 31, and cash and bullion of A$452 million after A$124 million dividend payment on March 29.

Northern Star is a global-scale Australian gold producer that owns and operates three 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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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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