Northern Star sold 364,000 ounces at an AISC of AUD 3,217 per ounce, while the stock slipped 1.1% after the results—an essentially flat reaction. The quarter was in line with plan, but KCGM’s mill tie-in finished about two weeks later than anticipated and the new CEO has yet to provide clarity on the forward plan.
- September-quarter sales were 364,000 ounces at AISC of AUD 3,217 per ounce.
- KCGM completed the mill tie-in on 28 September, around two weeks later than expected due to commissioning issues that have since been addressed; ramp-up is continuing, with stable performance still to be established.
- KCGM mill expansion and readiness spending was AUD 221 million for the quarter; FY27 forecast spend remains within guidance of AUD 350 million to AUD 470 million.
- KCGM open-pit mining was 23 million tonnes, on plan despite 125 mm of rain; underground development reached a record 10.3 kilometres.
- KCGM, Carosue Dam and Kalgoorlie operations generated AUD 433 million in mine operating cash flow, but net mine cash flow was AUD 15 million after AUD 418 million of growth capital investment.
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