Northern Star Resources Ltd (ASX:NST)

ALERT: Price-sensitive ASX Announcement for NST

Current share price for NST : $25.260 0.64 (2.60%)⁺

Announcement

September 2026 Quarterly Activities Report

Release

21 Oct 2026 8:19AM

Price at Release

$24.620

Full Release

Summary

Northern Star Resources Ltd’s September 2026 Quarterly Activities Report states that the group sold 363,891 ounces of gold in the September 2026 quarter at an all-in sustaining cost of A$3,217/oz, generated net mine cash flow of A$210 million and underlying free cash flow of A$(31) million after A$113 million in corporate tax payments, with all three production centres cash positive and FY27 guidance unchanged at 1,500–1,650koz gold sold at an AISC of A$3,050–3,450/oz; the quarter was marked by completion of the KCGM mill tie-in on 28 September and early-stage commissioning of the expanded integrated plant, which temporarily affected tonnes, grade and recovery, while Stage II commissioning remains scheduled for early in the second half of FY27 and is expected to lift recovery by 1–2% and remove concentrate haulage between KCGM and Gidji; Kalgoorlie sold 193,540oz at A$2,919/oz, Yandal sold 117,631oz at A$3,687/oz, and Pogo sold 52,720oz at US$2,307/oz, with cash and bullion at A$1.2 billion at 30 September 2026, additional bank facilities expanded to A$2.25 billion and A$500 million drawn post quarter end to preserve liquidity, while exploration spend was A$56 million and Hemi studies, permitting and integration work continued with a Final Investment Decision still targeted for late FY27.

Key Points

ASX announcement date was 21 October 2026.
Northern Star reported September quarter gold sales of 363,891oz at an AISC of A$3,217/oz.
Net mine cash flow was A$210 million and group underlying free cash flow was A$(31) million after A$113 million in corporate tax payments.
FY27 guidance was maintained at 1,500–1,650koz gold sold at an AISC of A$3,050–3,450/oz.
Production is expected to be weighted to the second half of FY27 as KCGM ramps up.
KCGM legacy plants were shut down on 21 September and tie-in to the expanded plant was completed on 28 September 2026.
KCGM commissioning is in early stages and temporarily reduced milled tonnes, grade and recovery in the quarter.
Stage II of the KCGM Mill Expansion Project is scheduled for commissioning in early 2H FY27.
Stage II is expected to deliver a 1–2% recovery uplift and remove concentrate haulage between KCGM and Gidji.
Kalgoorlie sold 193,540oz at an AISC of A$2,919/oz.
Yandal sold 117,631oz at an AISC of A$3,687/oz.
Pogo sold 52,720oz at an AISC of US$2,307/oz.
KCGM Mill Expansion and Readiness capital expenditure was A$221 million in the quarter.
Total KCGM Mill Expansion Project spend to date reached A$1.746 billion versus forecast total project spend of A$1.75–1.81 billion.
Group cash and bullion totalled A$1.2 billion at 30 September 2026.
Total corporate bank facilities increased to A$2.25 billion.
Northern Star drew A$500 million of bank facilities on 9 October 2026 ahead of the FY26 final dividend payment.
The company delivered 140koz of hedges during the quarter at A$3,278/oz.
Remaining hedge commitments at 30 September 2026 were 647.5koz at an average A$3,423/oz.
Exploration expenditure for the quarter was A$56 million.
Hemi Project engineering, design and permitting progressed with Final Investment Decision still targeted for late FY27.
Managed Aquifer Recharge trials commenced for Hemi during the quarter.
Northern Star said tax depreciation from the Hemi implementation is expected to generate about A$300–350 million in cash tax savings in FY27 and A$200–250 million in FY28.
Safety performance remained strong with group SLTIFR at 0.5 injuries per million hours worked.
Suresh Vadnagra commenced as Managing Director and CEO on 5 October 2026.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.