Northern Star (NST) record fourth quarter
Stock
Northern Star (NST) $13.50 as at 30/07/2019
Event
Gold producer Northern Star has crept higher today on a move in the gold price, while the company also released their fourth quarter production report pre-market.
The June quarter was a record for the company, with production coming in near the top end of guidance at 255koz taking sales for the year to a record 840koz.
Driving the volume growth was some momentum in the turnaround of Alaskan asset Pogo which has eased some investor concerns over integration of last year’s acquisition. Production here rose 27% for the quarter, with the volume helping to reduce the average cost. Australian operations beat the top end of their guidance for the full year.
The only blight in the quarterly was a spike in costs which came in at $1296/oz, vs guidance of $1,225-$1,275/oz. Rising costs have been a common theme in quarterly reports for June with a number of other names across the commodity spectrum flagging costs inflation.
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