For thousands of other reports visit RSC's Mineral Intellingence Map
Northern Star Resources Ltd.
Summary
| Project: | Kanowna | |
|---|---|---|
| Deposit: | Kanowna | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-8-2017: Northern Star Resources Ltd. announces a Resource Estimation report for its Kanowna deposit at the Kanowna project. Updated mineral resources and ore reserves for Kanowna. Northern Star Resources Limited (ASX: NST) is pleased to announce that th | |
| Resources: | (Reserve, P+P): 6.795Mt @ 2.7g/t Au for 596koz Au contained at Kanowna | |
| CP/QP: | [Resources]: Darren Cooke (Internal) | |
| ABSTRACT: | Northern Star Resources Limited (ASX: NST) is pleased to announce that the Company’s three-year commitment to an organic growth strategy has culminated in substantial increases in its inventory, mine life and production profile. The outstanding result will also help underpin further growth in Northern Star’s free cash flow and ensure it retains its industry-leading financial returns. Total Reserves have increased by 2.3 million ounces to 3.5 million ounces (despite depletion of 546,000oz in FY17). The additional Reserves came at a cost of just A$24/oz. Total Resources have grown by 2.7 million ounces to 10.2 million ounces. The increased inventory will generate significant production growth, with guidance for FY19 of 550,000- 600,000oz and guidance from FY20 onwards of 575,000-625,000oz per year. This compares with previously-announced guidance for FY18 of 525,000-575,000oz. Northern Star Executive Chairman Bill Beament said the highly successful strategy had delivered the Company world-class assets as measured by several key international benchmarks. “Northern Star now has mine life visibility of 10 years,” Mr Beament said. “Our production rate will grow to 600,000oz a year or more with scope for further significant increases as we bring our Central Tanami Project on line and revitalise Paulsens through the impending exploration program there. “We will achieve this production growth while reducing our expansionary capital outlay to A$60 million in FY19 and A$40 million in FY20. This will help ensure our overall costs remain at or around current levels, positioning us for further substantial increases in free cash flow.” Mr Beament said the results of the exploration strategy at the Jundee and Kalgoorlie Operations demonstrated that they were world-class gold camps as measured by their total gold endowment, consistent Resource-Reserve replacement, annual production rates and free cash flow generation. “Our Tier-1 Jundee and Kalgoorlie Operations have the capacity to each become 300,000ozpa centres over the next two years. This would see them join an exclusive club of gold mines around the globe.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report