Northern Star accelerates growth

NORTHERN Star Resources executive chairman Bill Beament says the identification of new opportunities prompted the company to bring forward expansionary capital to accelerate its growth strategy.

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During the December quarter, Northern Star brought forward A$5 million of expansionary capital, taking the total figure for the quarter to $28 million out of the full-year budget of $65 million.

Beament said that decision was made based on strong exploration results, which was creating opportunities to grow inventory and providing development options.

“It was a decision aimed at accelerating our overall growth,” he said.

Beament said the company had identified “several opportunities across our assets for organic growth” that would deliver benefits sooner, but said more detail would be released next month.

Inorganically, Northern Star spent $23.2 million on a 16.4% stake i...