Strong start to FY25 for Northern Star
Australian gold miner Northern Star delivered strong operational results across all three of its production centres, MD Stuart Tonkin reported on Thursday.
During the first quarter of the 2025 financial year, the ASX-listed company recovered 373 904 oz at an all-in sustaining cost of A$2 082/oz.
Gold sales amounted to 393 890 oz, with the group generating A$1.35-million of revenue in the three months ended September.
For the quarter under review, Northern Star generated net mine cash flow of A$122-million while continuing its returns-focused capital investment programme.
“As a result of the positive start into FY25, we are confident we will achieve our full-year production and cost guidance,” said Tonkin.
The company is targeting 1.65-million to 1.8-million ounces of gold sold at an AISC of A$1 850/oz to A$2 100/oz in the 2025 financial year.
Gold sold will be weighted towards the second half as a result of increased production from higher grades at KCGM, in Western Australia, and improved mill availability at Thunderbox, also in Western Australia, and Pogo, in Alaska.
Northern Star’s 2025 capital expenditure (capex) is forecast in the range of A$950-million to A$1.02-billion in addition to the KCGM mill expansion capex of A$500-million to A$530-million, which is in the second year of its build phase.
Northern Star announced a final investment decision for KCGM mill expansion in June 2023. KCGM is expected to operate at 650 000 t/y by the 2026 financial year and increase to about 900 000 oz/y at steady state from 2029.
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