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Northern Star ups sales and lowers costs

14th April 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Northern Star has reported an increase in gold sales and a fall in all-in sustaining costs (AISC) for the three months to March.

During the quarter under review, gold sales increased from 142 017 oz in the December quarter to 143 469 oz, while gold sales for the nine-months ended March reached 427 042 oz.

AISC for the March quarter also fell by 5% on the December quarter, to A$985/oz, while AISC for the nine months to March reached A$1 036/oz, which was below the full-year guidance range of between A$1 050/oz to A$1 100/oz.

The reduced costs reflected, in part, lower contracting, labour and supply rates negotiated by Northern Star, with the majority of the savings taking effect in January this year.

MD Bill Beament told shareholders on Wednesday that the March quarter had been an exceptionally strong quarter for the company.

“These results demonstrate that we are achieving outstanding operational outcomes which are translating into strong financial results for shareholders.”

For the full year, Northern Star was tipped to deliver between 535 000 oz and 570 000 oz of gold.

Edited by Creamer Media Reporter

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