Luke Creagh has just said,“We are now in a really exciting phase...

Luke Creagh has just said,

“We are now in a really exciting phase of our growth.

As the economics of the operation improve and as we advance the Riverina Underground Project we are on a genuine pathway to deliver significant production growth over the next 12 months.”

The Company sold 11,771 oz at a cost of $2,993/oz in Dec 2022 quarter.

Although net cashflow was negative for that last quarter, the operational improvements have set the Company up for a strong second half into June 2023.

This is reflected by current 6 month guidance of 31-35koz at costs of $2,100-$2,300/oz (a ~30% increase in ounces produced and ~25% reduction in AISC/oz compared to that completed first half).

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I really don’t think we could hope for a much more positive commentary on OBM outlook than that.

That 27% improvement in mining volume for Dec quarter, compared to the September quarter (using exactly the same mining fleet), shows that this new team really do know what they are doing now.

We may have another baby Northern Star in the making!