Swelling cash to fund Northern Star pipeline

BILL Beament says Northern Star Resources’ cashflow generation and organic growth prospects set the company apart from its peers in the global gold sector.

Swelling cash to fund Northern Star pipeline Swelling cash to fund Northern Star pipeline Swelling cash to fund Northern Star pipeline Swelling cash to fund Northern Star pipeline Swelling cash to fund Northern Star pipeline

The company sold 132,558 ounces of gold in the March quarter at an average realised price of A$1669 an ounce.

All-in sustaining costs dropped to $988/oz, its first quarter this financial year below $1000/oz due to AISC of just $867/oz at Kalgoorlie.

Operating cashflow for the quarter was $115.5 million, leading to a $90 million increase in cash and investments to $393 million, including Northern Star’s $18 million worth of shares in Toronto-listed Superior Gold.

Beament told a teleconference today the company’s outstanding cashflow generation was “moving Northern Star in the opposite direction to our global peer group”.

Underlying free cashflow for the quarter was $59.8 m...