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Northern Star digs up record gold for June

Christian Edwards, Australian Associated Press
July 13, 2017 2:46pm

Gold miner Northern Star Resources achieved record production in the June quarter, taking full year production to the top end of its guidance.

Production in the three months to June totalled 154,116 ounces, outstripping all previous quarters, taking annual output to 514,735 ounces, at the top of Northern Star's 485,000-515,000 ounce guidance range.

Executive chairman Bill Beament said the strong performance of operations at Jundee and Kalgoorlie were a result of investments in exploration and production in the company's tier-one assets.

"We are now reaping the rewards of this investment, as shown by the significant increase in our 2018 financial year production guidance," Mr Beament said.

Northern Star is forecasting between 525,000 and 575,000 ounces in production in 2017/18, at an estimated all-in sustaining cost of between $1,000 and $1,050 an ounce.

Its all-in sustaining cost was $1,013 an ounce in 2016/17.

Northern Star shares were up 10 cents, or 2.1 per cent, at $4.79 at 1335 AEST.

Originally published as Northern Star digs up record gold for June