NST 0.25% $15.79 northern star resources ltd

paulsens gold production resumes full cap

  1. 2,333 Posts.
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    Processing plant again operating at full speed after
    seven-day shutdown due to power outage
     Accelerated repairs to power station mean mining
    was halted for just four days while the plant shutdown
    was limited to seven days
     Significant exploration drilling campaign underway;
    Drilling focusing on both extensions to Voyager One
    and the much sought-after Voyager Two lode
     Results from Voyager Two, which has strong
    potential to extend Paulsens? life beyond 2011,
    expected over the coming months.
    Northern Star Resources (ASX:NST) is pleased to advise that operations at its
    Paulsens Gold Mine in WA have returned to full capacity following the recent power
    outage.
    Accelerated repairs to the contractor-run power station following last week's fire enabled
    ore processing to resume yesterday, meaning the plant was offline for just seven days.
    Mining resumed five days ago, with the additional ore added to stockpiles.
    The speed with which operations were returned to normal means the impact of the
    shutdown on November's production will be significantly less than anticipated at the
    time of the fire.
    Meanwhile, exploration at Paulsens is in full swing, with drilling underway to identify
    further extensions to the Voyager One lode as part of the push to increase the Stage
    Two mine plan.
    A second rig is drilling for the Voyager Two lode, which has the potential to extend
    Paulsens' life well beyond 2011. Assay results from both drilling programs are expected
    over coming month.
    Paulsens produced 30,602 ounces in the September quarter and 9,906oz in October,
    nearly 30 per cent more than forecast in its budget.
    The Company would like to sincerely thank all those involved in getting the operation
    back to full capacity in such a short time frame.
    ASX ANNOUNCEMENT
    11 NOVEMBER 2010
    Australian Securities Exchange
    Code: NST
    Board of Directors
    Mr Chris Rowe
    Non-Executive Chairman
    Mr Bill Beament
    Managing Director
    Mr Michael Fotios
    Non-Executive Director
    Mr Peter Farris
    Non-Executive Director
    Ms Karen Brown
    Company Secretary
    Issued Capital
    Shares
    292 M
    Options 84M ($6.8M Funding)
    Current Share Price
    $0.245
    Market Capitalisation
    $71 million
    Projects Commodities
    Paulsens gold
    Golden Crown gold
    Range gold, silver
    Emull Zn, Cu, gold
 
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