Northern Star Resources Limited announced that the Company yesterday hit its production rate target of 600,000ozpa.
Production for the June quarter to date is 150,000oz. This takes the total for the financial year to date to 540,000oz, meaning Northern Star is on track to beat the top end of its FY2018 guidance of 540,000-560,000oz. All-in sustaining costs will be within the guidance range of A$1000-1050/oz.
Northern Star Executive Chairman Bill Beament said the Company was poised to maintain the growth trend on the back of its highly successful exploration strategy and increased processing capacity.
“The recent acquisition of the 1.2Mtpa South Kalgoorlie mill, combined with our ongoing exploration success, will underpin continued production growth in our Kalgoorlie operations,” Mr Beament said.
“This additional milling capacity provides increased flexibility in Kalgoorlie, where we have also just declared commercial production at the Millennium mine.
“At Jundee, we are experiencing a similar scenario, with the processing plant now running at the rate of 2Mtpa on fresh underground ore.”
Northern Star will provide production and cost guidance for FY2019 as part of its wider Strategic Update in early August.
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