news

Gold producer Northern Star achieves FY23 guidance, expects more ounces in FY24

Kitco Media
By Vladimir Basov
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Editor noteGet all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!

(Kitco News) - Northern Star Resources (ASX: NST), a senior global gold producer, reported Wednesday that the company produced 1,555,588 ounces of gold in its fiscal FY23 ending 30 June 2023, in line with FY22 (1,553,051 ounces).

In a statement, the company noted record quarterly performance at Pogo achieving above key growth objective of 300kozpa gold sold, adding that FY23 sales and cost guidance delivered with 1,563koz gold sold at an all-in sustaining cost (AISC) of A$1,759/oz (~US$1,192/oz).

Northern Star said that the strong June quarter performance enabled it to meet its FY23 sales and cost guidance, and that growth and exploration works advanced ahead of plan resulting in capital expenditure and exploration spend above guidance.

The company also noted strong balance sheet with net cash of A$362 million (~US$245 million) at June 30, and cash and bullion of A$1,247 million (~US$845 million).

Importantly, Northern Star said it is on track to deliver 1,600-1,750koz gold sold at an AISC of A$1,730-1,790/oz (~US$1,172-1,213/oz) in FY24.

Northern Star is a global-scale Australian gold producer that owns and operates three gold production centers (Kalgoorlie, Yandal and Pogo), located in Australia and the United States.

Antofagasta ups copper production in H1, cuts 2023 guidance due to delay at desalination plant
Kitco Media

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.

Mdi Earth Logo

Share

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.