Proactiveinvestors Australia NORTHERN STAR RESOURCES LTD https://www.proactiveinvestors.com.au Proactiveinvestors Australia NORTHERN STAR RESOURCES LTD RSS feed en Tue, 23 Jul 2019 23:53:55 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Northern Star Resources Ltd to update on Plutonic operations disposal ]]> https://www.proactiveinvestors.com.au/companies/news/155634/northern-star-resources-ltd-to-update-on-plutonic-operations-disposal-70156.html Northern Star Resources Ltd (ASX:NST) is preparing to outline an update on the proposed disposal of the Plutonic operations, with the ASX granting the company a trading halt.

Prior to the holt, Northern Star said that it had reached an agreement-in-principle to sell its Plutonic gold mine in Western Australia.

The halt will remain in place until the opening of trade on Wednesday 3rd August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 01 Aug 2016 15:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155634/northern-star-resources-ltd-to-update-on-plutonic-operations-disposal-70156.html
<![CDATA[News - Northern Star Resources Ltd records 65% rise in FY16 net profit, lifts dividend ]]> https://www.proactiveinvestors.com.au/companies/news/155633/northern-star-resources-ltd-records-65-rise-in-fy16-net-profit-lifts-dividend-70027.html Northern Star Resources Ltd (ASX:NST) has recorded an unaudited FY16 net profit after tax of A$151. Million, a 65% increase on FY15.

This drove FY16 earnings per share (EPS) to $0.252, up 62% on FY15.

The profit reflects strong gold sales of 561,153 ounces at an all-in sustaining cost (AISC) of A$1,041 per ounce, down from A$1,065 per ounce in FY15.

Northern Star remains debt free with cash and equivalents of
A$326 million, up from A$178 million a year earlier.

In light of this strong balance sheet, Northern Star has increased its final dividend by 33% to $0.04 from $0.03, lifting the full-year fully franked dividend to $0.07 from $0.05.

Bill Beament, managing director, commented: “The strong operational performance, including further cost reductions, underpinned a record profit.

“Most importantly, we achieved this significant growth in profit, cash holdings and the dividend while generating a 39 per cent return on equity and a return on invested capital of 28%.

“This is one of the highest rates of return of any ASX-listed company and is the key barometer of a company’s performance.”

Northern Star has a portfolio of low-cost, high-grade underground gold mines located in Western Australia and Northern Territory.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 26 Jul 2016 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155633/northern-star-resources-ltd-records-65-rise-in-fy16-net-profit-lifts-dividend-70027.html
<![CDATA[News - Northern Star Resources hits bonanza gold in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/155632/northern-star-resources-hits-bonanza-gold-in-western-australia-60048.html Northern Star Resources’ (ASX:NST) drilling has returned high grade gold including a bonanza 7 metres at 118 grams per tonne gold at its Paulsens Gold Mine in Western Australia.

The results have extended the known length of its high-grade Voyager 2 lode by 300 metres down plunge and are expected to underpin an updated resource estimate for Paulsens in the June 2015 quarter.

Adding to the interest, the mineralisation remains open and will continue to be tested with ongoing drilling.

Voyager 2 is emerging as a high grade lode that could underpin Paulsens’ production for a number of years.

Mining at Paulsens is currently moving from the Voyager 1 lode, which produced 414,000 ounces at an average grade of 7.8g/t, to Voyager 2.



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Tue, 13 Jan 2015 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155632/northern-star-resources-hits-bonanza-gold-in-western-australia-60048.html
<![CDATA[News - Northern Star Resources in gold discovery near Kalgoorlie ]]> https://www.proactiveinvestors.com.au/companies/news/155631/northern-star-resources-in-gold-discovery-near-kalgoorlie-58888.html Northern Star Resources Limited (ASX:NST) should trade higher after making another high-grade gold discovery at the Kundana Project on the outskirts of Kalgoorlie, Western Australia.

The first round of drilling at the Millennium target returned results of 15 metres at 6.2gpt, including 4 metres at 14.7gpt; 3.2 metres at 26.6gpt, and 3 metres at 11.2gpt.

Another two holes have intersected the prospective structure with one containing visible gold with assays pending. Further drilling with a surface diamond rig is underway both along strike to the North and down dip from current intersections.

These results are in line with historic drilling intercepts outside of the Centenary mine of 6.3 metres at 17.3gpt and 3.7 metres at 34gpt, amongst others.

The Millennium discovery was made just 200 metres from surface and is located adjacent to the dormant South/Centenary mine, which produced 309,000 ounces until production stopped in 1999.

Millennium has so far been defined over a 500 metre strike and remains open to the North and at depth.

It would be accessible from either the dormant Centenary mine or the North pit located on the opposite side, meaning the capital cost of any development would be reduced.

Millennium has many parallels with the company’s outstanding Pegasus deposit, which lies 3.5 kilometres to the South and also on the K2 structure at Kundana.

Pegasus, which hit first ore in development 3 weeks ago and is due to come into production by the middle of 2015, has a capital cost of $10 million and is expected to initially contribute 50,000 ounces to Northern Star’s annual production.

The low-cost nature of such a deposit is made even more attractive by the fact that this ground is 100 per cent-owned by Northern Star.

The discovery could also lead to further discoveries on Northern Star tenements.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 12 Nov 2014 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155631/northern-star-resources-in-gold-discovery-near-kalgoorlie-58888.html
<![CDATA[News - Northern Star Resources hits high-grade gold at Pegasus ]]> https://www.proactiveinvestors.com.au/companies/news/155630/northern-star-resources-hits-high-grade-gold-at-pegasus-54768.html Northern Star Resources (ASX: NST) has made a spectacular intercept of 9 metres at 37.8g/t gold at its Pegasus deposit in Western Australia.

Another highlight intersection was 5.3 metres at 26.3g/t gold, and mineralisation remains open at depth and along strike.

The Pegasus deposit is part of the recently acquired Kundana Gold Mine, and has returned a consistent string of high-grade results from outside the existing 355,000 ounce resource, including some up to 500 metres away.

These latest results are expected to underpin a significant resource increase and maiden reserve for Pegasus next quarter.

An access decline is well underway, with first production anticipated in the March Quarter 2015.

In addition, drilling at the Rubicon-Hornet mine, which is also part of the Kundana operations, reveals that economic mineralisation continues beneath current mining reserves.

Results here included 38.4 metres at 10.5g/t gold, 5.7 metres at 13.8g/t gold, and 2.5 metres at 97.7g/t gold.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 07 May 2014 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155630/northern-star-resources-hits-high-grade-gold-at-pegasus-54768.html
<![CDATA[News - Northern Star Resources hits 687g/t gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155629/northern-star-resources-hits-687gt-gold-at-paulsens-50914.html Northern Star Resources (ASX: NST) has intersected some bonanza grade gold in its latest drilling program at the Paulsens gold project in Western Australia.

The latest highlights from Titan include: 0.2 metres at 687.0g/t gold 488mRL; 0.4 metres at 103.0g/t gold 436mRL; and 3.0 metres at 12.6g/t gold 380mRL.

Titan is located just 100 metres from Paulsens, which means it could be accessed from the existing underground mine.

A third drilling rig has recently been commissioned at Titan with a view to further defining the extremities of the quartz rock.

Across at Voyager 1, results included: 2.1 metres at 85.0g/t gold 503mRL UZ; 0.9 metres at 44.5g/t gold 271mRL LZ; and 5.1 metres at 31.7g/t gold 413mRL UZ.

It's worth reflecting that Northern Star acquired Paulsens for A$40 million in July 2010, and repaid the full acquisition within 7 months.

Currently the company has cash, bullion and investments of over $50 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 05 Dec 2013 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155629/northern-star-resources-hits-687gt-gold-at-paulsens-50914.html
<![CDATA[News - Northern Star Resources to reveal results from the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/155628/northern-star-resources-to-reveal-results-from-the-pilbara-49577.html Northern Star Resources (ASX: NST) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Northern Star requested the halt pending exploration results at its Pilbara tenements.

The halt will last until the opening of trade on Thursday 31st October 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 29 Oct 2013 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155628/northern-star-resources-to-reveal-results-from-the-pilbara-49577.html
<![CDATA[News - Northern Star Resources hits 231g/t gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155627/northern-star-resources-hits-231gt-gold-at-paulsens-43839.html Northern Star Resources (ASX: NST) has delivered some bonanza grade gold hits up to 231g/t from the Voyager 2 lode at the Paulsens Gold Mine in Western Australia.

The latest highlights include: 4.5 metres at 20.0g/t gold (true width 4.0m) 334mRL UZ, including 0.24 metres at 231 g/t gold; and 0.7 metres at 117.0g/t gold (true width 0.6m) 340mRL UZ.

The importance of the results is that they extend the Voyager 2 lode a further 200 metres down plunge from Paulsens’ current 555,000 ounce resource model.

The Voyager 2 lode, which runs parallel and immediately adjacent to the producing Voyager 1 lode, will be mined simultaneously, reducing capital development costs and extending mine life significantly.

First development ore from Voyager 2 expected in the September quarter 2013.

A resource upgrade for the mine is expected to be released before September 2013, and wil include the in-fill and resource definition drilling undertaken in the Voyager 2 lode since the March 2013 resource upgrade.

Northern Star held cash, bullion and investments of $66.5 million at the end of March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 May 2013 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155627/northern-star-resources-hits-231gt-gold-at-paulsens-43839.html
<![CDATA[News - Northern Star Resources glitters with more gold; finds upto 184g/t at Voyager 1 lode ]]> https://www.proactiveinvestors.com.au/companies/news/155626/northern-star-resources-glitters-with-more-gold-finds-upto-184gt-at-voyager-1-lode-43357.html Northern Star Resources (ASX:NST) has hit further bonanza gold, returning high grade gold intersections of up to 184 grams per tonne 100 metres below previous known mineralisation at its Paulsens mine in Western Australia.

The intersection of 9.8 metres at 17.3 g/t which included 0.4 metres at 184g/t was made 100 metres vertically below the deepest mineralisation previously recorded at Paulsens’ key Voyager 1 lode.

The high grade find potentially indicates more resources and longer mine life as the results are from more than 200 metres below the current production levels.

Other significant intercepts from at or around the same depth include 10 m at 31.9 g/t; 12.8 metres at 25.4 g/t and 8.3 metres at 40.3 g/t, among others.

The results come close on the heels of the company announcing that it has generated results of up to 379 g/t from drilling within the Gabbro host rock, which straddles the 1 million ounce Paulsens orebody, and was previously thought to be unmineralised.

Significantly, in addition to both the Gabbro drilling and the latest deep drilling at the Voyager 1 lode, the company also recently registered a 156% increase in resources in the Upper Levels at Paulsens, taking it to 92,000 ounces at 10.2 g/t.

The upgrade come following a review of the shallow levels at Paulsens where large portions of the orebody were left unmined by previous owners due to their gold price hedging, mine scheduling and a lack of surplus funds for exploration and extensional drilling.

There is further upside potential waiting to be unlocked as some areas in the Upper Levels remain open along strike, offering scope for additional mineralisation which will further increase the resources.

The company could also add to the mine life by drilling at the Apollo Zone, which is on the northern side of the Northern Gabbro rock unit and is the only mineralised lode that has been mined outside of the Gabbro structure.

It has already produced 23,000 ounces at an average grade of 7.3g/t, while more recent exploration holes designed to test down plunge from the previously mined Apollo Zone intersected the quartz structure 200m down plunge with assays including 1.9m at 6.3g/t and 1.6m at 4.3g/t.


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Thu, 16 May 2013 10:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155626/northern-star-resources-glitters-with-more-gold-finds-upto-184gt-at-voyager-1-lode-43357.html
<![CDATA[News - Northern Star Resources joins 1 million ounce gold club, single deposit ]]> https://www.proactiveinvestors.com.au/companies/news/155625/northern-star-resources-joins-1-million-ounce-gold-club-single-deposit-40615.html Northern Star Resources (ASX: NST), the dividend paying gold producer and explorer, has delivered a sizable increase to reserves and resources at the company's Paulsens Gold Project in Western Australia.

JORC Reserves increase 81% to 204,000 gold ounces at 5.3g/t, with the grade up 23%. Total JORC Resources increase by 38% to 555,000 gold ounces at 5.7g/t after 50,250 ounces of mining depletion, with the grade up 14%.

Paulsens revised inventory does not include a series of outstanding drilling results recorded so far this year, which have been as high as 1135g/t. These results, along with those from ongoing drilling, will be included in a further upgrade expected later this year.

Paulsens Gold Mine now joins the +1 million ounce single deposit club, comprising gold mined plus current resources.

Importantly the revised inventory gives Paulsens +5-year mine life based on a strong historical conversion of Resources into mineral inventory, with the resource upgrade including a 156% increase in the Upper Levels at Paulsens which will provide supplementary ore for 5-7 years.

Paulsens is set to produce 100,000 - 115,000 ounces this calendar year, with total costs running at A$850-A$950/oz, generating up to $85 million in surplus cash.

Northern Star just declared a $0.01 interim dividend, following the $0.025 final dividend of late last year, putting the company on a 4% fully-franked yield.

The company had cash, bullion and investments of $62 million at the end of 2012.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Mar 2013 09:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155625/northern-star-resources-joins-1-million-ounce-gold-club-single-deposit-40615.html
<![CDATA[News - Northern Star Resources hits 1135g/t gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155624/northern-star-resources-hits-1135gt-gold-at-paulsens-39787.html Northern Star Resources (ASX: NST) continues to intersect bonanza grade gold at the Paulsens Gold Mine in Western Australia, with the latest drilling including intersections of 1135g/t gold and 435g/t.

Highlights from the Voyager 1 lode include:

- 13.1 metres at 66.7g/t gold (true width 7.4 metres) 511 metres RL UZ, including 0.3 metres at 1135 g/t gold; and

- 8.1 metres at 124.0 g/t gold (true width 4.6 metres) 544 metres RL UZ, including 3.4 metres at 166 g/t gold and 1.0 metre at 410 g/t gold

Highlights from the Voyager 2 lode include:

- 2.9 metres at 45.9 g/t gold (true width 2.9 metres) 483 metres RL UZ, including 0.3 metres at 435g/t gold; and

- 11.0 metres at 22.0g/t gold (true width 4.0 metres) 474 metres, RL UZ including 0.3 metres at 245g/t gold.

Additional assays are pending.

Northern Star said that the latest intersections will be included in the upgrade to Paulsens’ current 403,000 gold ounce resource.

Importantly for the company, this increase in grade will combine with the recently completed plant expansion to 450,000 tonnes a year to lift production from around 80,000 ounces to 100-115,000 ounces in calendar year 2013.

Northern Star is on track to generate $65-$85 million in surplus cash for CY2013. This will leave the Company well-placed to back-up its recently paid fully-franked dividend of 2.5c a share for FY2012 and interim 1.0c fully-franked dividend for December Half 2012.

These forecasts are based on a gold price of A$1,550/oz compared with the current price of A$1,560/oz.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 20 Feb 2013 09:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155624/northern-star-resources-hits-1135gt-gold-at-paulsens-39787.html
<![CDATA[News - Northern Star Resources awash with cash from gold production ]]> https://www.proactiveinvestors.com.au/companies/news/155623/northern-star-resources-awash-with-cash-from-gold-production-39488.html Perth based Northern Star Resources (ASX:NST) has followed a 78 per cent higher net profit with payment of an interim dividend of $0.01 per share.

This follows a maiden full year dividend of $0.025.

The profit result of $22.3 million stems from production of 39,377 ounces of gold at a cash cost of $638 per ounce at a total cost of $908 per ounce.

This comes from spending $21 million to upgrade production capacity at the mine to 100,000 ounces of gold per annum.

The capital expenditure will also focus on exploration and further evaluation of the Ashburton project.

Northern Star said it is on track to generate up to $85 million in surplus cash this calendar year from production of 100,000 ounces.

Drilling and studies are progressing to establish a second 100,000 ounce per annum operation at the Ashburton Project.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 13 Feb 2013 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155623/northern-star-resources-awash-with-cash-from-gold-production-39488.html
<![CDATA[News - Northern Star's $20M gold drill program comes up trumps ]]> https://www.proactiveinvestors.com.au/companies/news/155622/northern-stars-20m-gold-drill-program-comes-up-trumps-38600.html Northern Star (ASX: NST) has discovered high-grade gold at the Belvedere Prospect, which is located 8 kilometres from the Paulsens Gold Mine.

Highlights from Belvedere include:

- 8 metres at 14.7 g/t gold and 47g/t silver, including 4 metres at 29.0 g/t gold and 91 g/t silver
- 9 metres at 8.7 g/t gold and 21g/t silver, including 5 metres at 12.4 g/t gold and 25 g/t silver

Results extend known Belvedere mineralisation 110 metres down plunge, highlighting the potential to grow the maiden 18,000 ounce resource significantly. Further drilling results pending.

Belvedere is located on the same 25 kilometre-long mineralised structure which hosts Paulsens Gold Mine, and this structure sits around 200 kilometres from Northern Star’s second ~1Moz deposit, Ashburton.

Northern Star controls vast majority of land between Ashburton and Paulsens, creating a highly prospective corridor with substantial deposits at both ends.

Northern Star is targeting both the 25 kilometre-long structure and the overall 200 kilometre corridor as part of $20 million exploration blitz in 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 23 Jan 2013 09:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155622/northern-stars-20m-gold-drill-program-comes-up-trumps-38600.html
<![CDATA[News - Northern Star Resources hits 189g/t gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155621/northern-star-resources-hits-189gt-gold-at-paulsens-33986.html Northern Star Resources (ASX: NST) has hit the mother lode again with gold hits of up to 189g/t gold from drilling at Paulsens’ Voyager 1 high-grade extension zone in Western Australia.

The high-grade extension zone has a resource grade of 25g/t gold compared with Paulsens' Voyager 1 historical mined grade of 8g/t gold. 

The results are significant because they come from the high-grade extension zone at Paulsens, which is at the heart of Northern Star's key performance forecasts for CY2013.

Significant results from Voyager 1 include (uncut):

- 4.4m at 42.4 g/t gold (true width 2.1m) 482mRL UZ2 including 0.7m at 189.0 g/t
- 6.9m at 25.3 g/t gold (true width 5.2m) 584mRL UZ including 1.0m at 151.6 g/t
- 2.2m at 83.8 g/t gold (true width 1.2m) 537mRL UZ

The high-grade extension zone is part of the Voyager 1 lode, which is currently the main ore source at Paulsens and has produced 175,000 ounces over the past two years.

The lode continues to be open down plunge and the company believes this lode will continue to grow and be the mainstay for production for a number of years.

The high-grade extension zone formed the major part of Northern Star's recently released resource upgrade on the Paulsens Project to 403,000 ounces.

All these latest drilling results from Voyager 1 are excluded from the new resource estimate of 403,000 ounces.

The increase in head grade will underpin a rise in production to as much as 115,000 ounces in CY2013, lowering costs and resulting in surplus cash generation of $65-$85 million next calendar year.

With current gold prices running $150/oz higher than that used to calculate the CY2013 guidance, there is also significant scope to further grow the Company's cashflow prediction.

The high grade extension zone is central Northern Star’s CY2013 strategy for increases in grade, production and cashflow.

Northern Star said that mine and processing upgrade is on track. This will see Paulsens’ production rise from ~80,000 ounces per annum to 100,000-115,000 ounces per annum in CY2013.

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Mon, 01 Oct 2012 11:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155621/northern-star-resources-hits-189gt-gold-at-paulsens-33986.html
<![CDATA[News - Northern Star Resources in pre open pending Paulsens drilling results ]]> https://www.proactiveinvestors.com.au/companies/news/155620/northern-star-resources-in-pre-open-pending-paulsens-drilling-results-30091.html Northern Star Resources (ASX: NST) has some potentially very interesting news on the horizon, with the ASX granting the company a trading halt today pending drilling results.

The results are from deep drilling at the Paulsens gold mine in Western Australia, and not to be forgotten Northern Star earlier in the year discovered; 0.8 metres at 12,178g/t gold and 1 metre at 3390g/t gold.

Northern Star is currently in the throes of increasing production at Paulsens from ~80,000ozpa to ~100,000ozpa, with the higher rate expected to kick-in at the end of 2012.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 18th June.

 

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Thu, 14 Jun 2012 09:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155620/northern-star-resources-in-pre-open-pending-paulsens-drilling-results-30091.html
<![CDATA[News - Northern Star Resources' bonanza strikes include 2330g/t gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155619/northern-star-resources-bonanza-strikes-include-2330gt-gold-at-paulsens-27534.html Northern Star Resources (ASX: NST) continues to discover bonanza grade gold at the Paulsens Gold Mine in Western Australia, which the intriguing outcome the possibility of an extended mine life.

New results from the Voyager 1 lode include hits of up to 2330 grams per tonne (g/t) gold, and across at the Voyager 2 lode discoveries include 0.4 metres at 1075g/t gold.

The company said that these results, along with previous hits such as 0.8 metres at
12,178g/t gold and 1 metre at 3390g/t gold appear to be in a separate, extremely high-grade domain inside Voyager 2 structure.

Importantly for the business case of an extended mine life, the latest results from Voyager 1 and all results from Voyager 2 are excluded from recently announced
resource upgrade of 318,000 gold ounces.

Highlights from Voyager 1 include:

- 2.3 metres at 1115.4g/t gold from 574 metres, including 1.1 metre at 2330g/t gold; and
- 19.0 metres at 75.8g/t gold from 624 metres, including 4.0 metres at 251.7g/t gold.

Highlights from Voyager 2 include:

- 0.4 metres at 1075g/t gold from 434 metres;
- 4.0 metres at 49.7g/t gold from 410 metres; and
- 8.0 metres at 31.5g/t gold from 438 metres.

Further assays from both lodes are pending.

 

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Thu, 12 Apr 2012 09:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155619/northern-star-resources-bonanza-strikes-include-2330gt-gold-at-paulsens-27534.html
<![CDATA[News - Northern Star Resources bonanza 3.4kg/t gold strike at Paulsens Gold Mine in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/155618/northern-star-resources-bonanza-34kgt-gold-strike-at-paulsens-gold-mine-in-western-australia-26026.html Northern Star Resources (ASX: NST) continues to discover off the chart gold grades at the Paulsens Gold Mine in Western Australia.

The latest phenomenal intersection from the Voyager 2 lode is 8.4 metres at 412.5 grams per tonne (g/t) gold from 437 metres, including 1 metres at 3390g/t gold.

Not lost on investors, recently at Voyager 2 Northern Star discovered 0.8 metres at 12,178g/t gold, and with the latest results, will be used to generate a maiden resource for the lode by mid-2012.

Not to be forgotten, at the Voyager 1 lode highlights included

- 5.2 metres at 108.6 g/t gold from 593 metres, including 0.54 metres at 1016g/t gold; 5.3 metres at 93.3g/t gold from 545 metres; and 3.4 metres at 61.7g/t gold from 597 metres.

The company is targeting to grow gold production to 100,000 gold ounces annually.

 

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Tue, 06 Mar 2012 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155618/northern-star-resources-bonanza-34kgt-gold-strike-at-paulsens-gold-mine-in-western-australia-26026.html
<![CDATA[News - Northern Star Resources 15% share spike raises ASX eyebrows ]]> https://www.proactiveinvestors.com.au/companies/news/155617/northern-star-resources-15-share-spike-raises-asx-eyebrows-25371.html Northern Star Resources (ASX: NST) popped up on the ASX radar this week when the company's shares spiked 15% to an intra-day high of $1.105 yesterday, up from a low of $0.96 on Tuesday February 14.

Northern Star said that there was not material information that has not been released to the market which may explain the sudden investor interest.

There is a good reason for investors liking the company, which is currently producing at an annual rate of around 80,000 gold ounces from the Paulsens mine in Western Australia, which was only acquired in mid-2010.

The company had nearly $42 million cash on hand at the end of 2011, which is a big turnaround from two years earlier when the company was trading at less than $0.03 with a market cap. in the millions.

Northern Star current valuation is over $380 million

 

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Thu, 16 Feb 2012 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155617/northern-star-resources-15-share-spike-raises-asx-eyebrows-25371.html
<![CDATA[News - Northern Star Resources strikes 0.8m at 12,718g/t gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155616/northern-star-resources-strikes-08m-at-12718gt-gold-at-paulsens-22191.html Northern Star Resources (ASX: NST) has returned one of the richest results in Australian gold mining history at the Paulsens Gold Mine in Western Australia, with a stunning 0.8 metres at 12,718 grams per tonne (g/t) gold.

The strike is equivalent to 12.7 kilograms per tonne or 1.27%, and was hosted within an intersection of 5.6 metres at 1713g/t gold.

The gold results are from the Voyager 2 lode, where a maiden resource is scheduled to be delivered in 2012.

Latest results follows significant intersections at Voyager 1 which included 0.85 metres at 773g/t, 0.6 metres at 638g/t and 2 metres at 345g/t.

A new mine plan at Paulsens is aiming for annual production of 200,000 gold ounces.

 

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Thu, 17 Nov 2011 09:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155616/northern-star-resources-strikes-08m-at-12718gt-gold-at-paulsens-22191.html
<![CDATA[News - Northern Star Resources' bonanza gold strikes include 6.6m at 82.2g/t at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155615/northern-star-resources-bonanza-gold-strikes-include-66m-at-822gt-at-paulsens-21787.html Northern Star Resources (ASX: NST) continues to deliver some stunning intercepts from the Paulsens Gold Mine in Western Australia.

The latest discoveries from the Voyager 1 lode are outside of the current resource model.

The highlight is 13.0 metres at 45.1 grams per tonne (g/t) gold, including 6.6 metres at 82.2g/t gold, with the stunning 0.6 metres at 638g/t gold, and 15.1 metres at 14.9g/t gold.

These hits follow on from the last month’s results, which included 18.8 metres at 62.7g/t gold, including 7.0 metres at 140.7g/t gold.

The result of the high grade strikes is an extended strike extent of Voyager 1, Upper Zone - by up to 100 metres.

Results will now contribute towards a resource upgrade for Voyager 1 and subsequent upgraded mine plan, production forecasts and cashflow projections.

Northern Star's new plan will form part of the company's strategy to grow production to 200,000 gold ounces annually from 80,000 ounces.

 

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Wed, 09 Nov 2011 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155615/northern-star-resources-bonanza-gold-strikes-include-66m-at-822gt-at-paulsens-21787.html
<![CDATA[News - Northern Star Resources to lift Western Australian gold production to 200,000 ounces annually ]]> https://www.proactiveinvestors.com.au/companies/news/155614/northern-star-resources-to-lift-western-australian-gold-production-to-200000-ounces-annually-20005.html Western Australia-based gold miner Northern Star Resources (ASX: NST) has announced a two-stage plan to increase production from 75,000 ounces per annum to 200,000ozpa.

In stage one, Northern Star will spend $10 million to upgrade the Paulsens mine from 350,000 tonnes per annum to 450,000tpa, lifting production from 75,000-80,000ozpa to 100,000ozpa.

Stage one will also involve further exploration at the neighbouring Ashburton project, which will ultimately be split into two parts; the Asburton Free-Milling project and the Ashburton Sulphide project.

The Ashburton Free-Milling project will be developed under stage one.

Stage two will begin with a feasibility study on the Ashburton Sulphide project, where preliminary indications show its potential as a stand-alone operation producing 100,000ozpa.

Most major lead-time items for the Paulsens expansion have been ordered.

The first production increases from the expansion are expected to take effect in the December quarter of 2012.

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Mon, 26 Sep 2011 09:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155614/northern-star-resources-to-lift-western-australian-gold-production-to-200000-ounces-annually-20005.html
<![CDATA[News - Northern Star Resources to add further resources and mine life at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155613/northern-star-resources-to-add-further-resources-and-mine-life-at-paulsens-19495.html Northern Star Resources (ASX: NST) has reported a further set of drilling results from Paulsens Gold Mine at depth in Western Australia which look likely to add additional gold resources and mine life.

High-grade results including 2.5 metres at 35.2 g/t gold from 568 metres; 2.8 metres at 23.0 g/t gold from 564 metres and 1.8 metres at 70.2 g/t gold from 627 metres are a bonanza for Northern Star.  All resulting from an acquisition of Paulsens that more and more looks like one of the best gold acquisitions in recent years.

The Voyager 1 lode is currently the main ore source at Paulsens and has produced 100,000 ounces over the past 15 months.

These latest results from the Voyager 1 lode at Paulsens extend the main ore zone another 100 metres down plunge from the current resource model.

Voyager 2 results included: 1.6 metres at 15.6 g/t gold from 480 metres and 0.2 metres @ 88.4 g/t gold from 457 metres.

With 100,000 ounces mined from Voyager 1 so far, it is emerging as a source of production for at least another two years.  With the potential of the Voyager 2 lode, there could be another five years added to mine life.

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Mon, 12 Sep 2011 09:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155613/northern-star-resources-to-add-further-resources-and-mine-life-at-paulsens-19495.html
<![CDATA[News - Northern Star Resources substantial shareholder Paradice increases stake ]]> https://www.proactiveinvestors.com.au/companies/news/155612/northern-star-resources-substantial-shareholder-paradice-increases-stake-18938.html Northern Star Resources (ASX: NST) has received a major vote of confidence in the company's operations from the Australian fund manager Paradice Investment Management - which after a transaction has boosted its stake in Northern Star to 6.3%.

Wyllie Group has also become a significant shareholder with a 3% stake.

The transaction revolved around Northern Star's largest shareholder, InvestMet Limited, which exercised 20.6 million options, injecting $1.54 million into Northern Star as a result.

InvestMet has also sold 10 million Northern Star shares, taking its total holding to 65.5 million shares, or 17.5% on a fully diluted basis.

Some of the shares that resulted from this transaction have been acquired by Paradice.

The proceeds of this sale have been used to fund InvestMet's early exercise of options and its tax liability resulting from its Northern Star investment.

Several directors, including managing director Bill Beament, have also restructured their holdings in Northern Star by exercising options - while selling shares to fund the option payment.

Post the combined transactions, $2.1 million will have been injected into Northern Star, with 337 million shares on issue and 39 million options.

A further 7 million options are expected to be exercised before they expire on the 4th September 2011.


Paulsens hits 100,000 gold ounce poured milestone

Earlier in the month Northern Star reached a major milestone at Paulsens since taking financial ownership in June 2010, with 100,000 gold ounces poured.

In July 8,650 ounces were poured, putting the company on track to exceed the 2011 forecast of $40 million in surplus cash and 75,000 ounces produced.

 

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Wed, 24 Aug 2011 14:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155612/northern-star-resources-substantial-shareholder-paradice-increases-stake-18938.html
<![CDATA[News - Northern Star Resources hits 100,000 gold ounce poured milestone at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155611/northern-star-resources-hits-100000-gold-ounce-poured-milestone-at-paulsens-18263.html Northern Star Resources (ASX: NST) continues to move the Paulsens Gold Mine in Western Australia forward quickly, with the company taking full financial ownership of the project a little over a year ago in June 2010.

Since then Northern Star has hit the 100,000 gold ounce poured milestone, and considering spot gold has averaged over US$1400 an ounce for the period - the gross cash flows equate to an impressive US$140 million.

Adding a bit more spice to the Paulsens equation is that 8,650 gold ounces were poured in July (providing an annualised rate of 104,000 ounces), placing the company on-track to exceed calendar 2011 forecasts of $40 million in surplus cash and 75,000 gold ounces produced.

Northern Star has now allocated a $12.5 million exploration budget for financial year 2012, with part of this money to be spent targeting a full repetition of Paulsens, where 450,000 gold ounces have been mined to date.

The company is also eyeing a resource upgrade towards the end of 2011, which will incorporate recent significant drilling results.

Highlighting the operational success at the project, the current safety record stands at 400 days without a lost time injury.

 

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Mon, 01 Aug 2011 09:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155611/northern-star-resources-hits-100000-gold-ounce-poured-milestone-at-paulsens-18263.html
<![CDATA[News - Northern Star Resources high-grade gold hits unveil potential at Ashburton project ]]> https://www.proactiveinvestors.com.au/companies/news/155610/northern-star-resources-high-grade-gold-hits-unveil-potential-at-ashburton-project-18195.html Northern Star Resources (ASX: NST) has intersected high grade gold from initial reverse circulation (RC) drilling at the Peake Prospect within its Ashburton Project, highlighting potential for it to become the company's second major production project.
 
Highlights include:

- 5 metres at 8.3 grams per tonne (g/t) gold, including 3 metres at 11.3 g/t;
- 8 metres at 6.5 g/t gold, including 4 metres at 10.1 g/t gold;
- 3 metres at 7.8 g/t gold; and
- 6 metres at 7.2 g/t gold.

Importantly, high-grade mineralisation remains open along strike, down plunge to the west and also down-dip and Ashburton could now potentially produce alongside Northern Star's highly profitable Paulsens Gold Mine.

The Ashburton Project has a resource of 668,000 ounces outlined in the Mt. and West Olympus Prospects and is within 200 kilometres trucking distance of Paulsens.

Bill Beament, managing director, said "the Peake Prospect offers potential to deliver both oxide and high grade underground sulphide resources which will add to the overall mineral inventory for the company."

"In-under 12 months Northern Star has delivered two corporate transactions, generated substantial profits and is now growing the business organically through successful exploration."

The drill program targeted down-dip and along strike potential of mineralisation at the historic Peake Open pit, where 18,700 ounces (oz) at 6.5g/t was produced. Further assays are pending and metallurgical testing is underway on these drill samples.

Preliminary RC drill holes have been completed at Ashburton’s historic Mt Olympus pit, targeting extensions of existing high-grade mineralisation where assays are also pending.

Northern Star is on track to beat its calendar 2011 forecasts for Paulsens of 75,000oz in production and $40 million in surplus cash. It has also set a $12.5 million exploration budget this financial year for the Paulsens-Ashburton region.


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Thu, 28 Jul 2011 09:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155610/northern-star-resources-high-grade-gold-hits-unveil-potential-at-ashburton-project-18195.html
<![CDATA[News - Northern Star Resources bonanza gold hits may extend Paulsens production life ]]> https://www.proactiveinvestors.com.au/companies/news/155609/northern-star-resources-bonanza-gold-hits-may-extend-paulsens-production-life-15457.html Northern Star Resources (ASX: NST) latest bonanza grade gold hits provide the very real potential of a resource upgrade at the Paulsens Gold Mine, therefore extending the production mine life.

Latest highlights outside of the recently upgraded Paulsens’ key Voyager 1 lode from around 650 metres deep include:

1.7 metres at 63.9 grams per tonne (g/t) gold; 1.3 metres at 52.2 g/t gold; 2.7 metres at 40.9 g/t gold; 4.0 metres at 26.7 g/t gold; and 2.0 metres at 22.6 g/t gold.

There has also been some more success at Voyager 2, with the intercept of; 1.6 metres at 31.8g/t gold from 525 metres.

There remains potential for some more high grade hits in the short term, with assays still pending for Voyager 1 and Voyager 2.

These latest results from Voyager 1 are highly significant because they extend the known strike length, providing the foundations for another boost to the 226,000 gold ounce resource.

The Voyager 2 lode has an exploration target of 100,000 to 250,000 gold ounces.

Bill Beament, managing director, said the latest results continue to provide strong evidence of the outstanding outlook for Paulsens.

"These high-grade results in the Voyager 1 lode are set to support an expansion of the recently released resource and mine plan.

"Combine these with the early drilling success of Voyager 2 and it is clear that Northern Star is set to maintain and grow its excellent production, cash flow and mine life."

Northern Star is closing in on being a tier 1 Australian gold mining company, with a current total resource base of 927,500 gold ounces, with the one million ounce resource milestone base within sight.

The company also recently added the Ashburton Gold Project in Western Australia to its portfolio of projects, which already has a new exploration program underway.

 

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Wed, 13 Apr 2011 08:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155609/northern-star-resources-bonanza-gold-hits-may-extend-paulsens-production-life-15457.html
<![CDATA[News - Northern Star Resources pours 18,000oz gold in Q2 at Paulsens despite setbacks ]]> https://www.proactiveinvestors.com.au/companies/news/155608/northern-star-resources-pours-18000oz-gold-in-q2-at-paulsens-despite-setbacks-12988.html Paulsens gold mine poured 17,957 gold ounces in the December quarter 2010, despite several setbacks, with 18,587 gold ounces sold providing Northern Star Resources (ASX: NST) with A$25 million in revenue for the period.

The setbacks included a fire on site and a shortage of crucial processing supplies, which have now been solved.

With mining continuing during the setbacks, Northern Star now has a large amount of gold in stockpiles, around 11,000 ounces at the end of 2010, with the impact going forward minimal as the ore is processed.

Northern Star sits in a very enviable position with $7.8 million in cash and bullion with no bank debt.

The company owes $5 million in production-based royalty payments on the $40 million acquisition of Paulsens.

Northern Star remains unhedged as a position to the strong gold price which continues to sit above US$1350 an ounce, and allows for upside should the gold price continue its bull run over the past five years.

Going forward, there remains potential for mining to continue beyond the stage one plan with some new high grade discoveries last month.

 

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Wed, 12 Jan 2011 09:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155608/northern-star-resources-pours-18000oz-gold-in-q2-at-paulsens-despite-setbacks-12988.html
<![CDATA[News - Northern Star Resources intersects visible gold at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155607/northern-star-resources-intersects-visible-gold-at-paulsens-12242.html Northern Star Resources (ASX:NST) continues to revitalise the Paulsens gold mine in Western Australia  with new underground diamond drilling results that support the existence of the Voyager 2 lode after intersecting 2.8m at 16.7gpt with visible gold and further intersecting mineralisation in two other holes.

Voyager 2, which sits 190m below the Stage 1 mine plan, is set to underpin a significant extension in Paulsens’ mine life beyond 2011 and these latest high grade results come just days after the company repaid the last of its $15 million debt.

In addition, Northern Star poured a record 30,600oz in the September quarter. The company expects Paulsens to continue to produce substantial amounts of highly profitable gold for years to come and lift the company into the next league of major gold producers.

The results follow two earlier holes which returned mineralisation from the Voyager 2 target, including 2m at 40.5gpt.

Assays on the two latest holes, which each returned 2-3m of mineralised core, are expected shortly. The ore positions intersected in these three holes fit the Paulsens geological model well.

The results all support Northern Star's strong belief that Voyager 2 is the next lode down plunge of and beneath the Voyager 1 lode, which has supplied all the gold NST has mined to date at Paulsens.

Bill Beament, managing director, said "both the strike rate and the grades being recorded at Voyager 2 are simply superb and show that our confidence in the outlook for Paulsens is well justified."

Paulsens has performed beyond expectations since being acquired by Northern Star from Intrepid Mines (ASX: IAU) in July for $40 million and has just $5.7 million of performance-based royalties to pay to Intrepid.

Debt free after three months and unhedged allows Northern Star to tap record high gold prices and generate more net cash flow, freeing up more capital for investment into exploration and extending mine life at Paulsens, along with looking at other opportunities.

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Thu, 02 Dec 2010 16:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155607/northern-star-resources-intersects-visible-gold-at-paulsens-12242.html
<![CDATA[News - Northern Star Resources debt free, looks to extend mine life at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155606/northern-star-resources-debt-free-looks-to-extend-mine-life-at-paulsens-12044.html With a final repayment on the $15 million bank loan it used to help acquire the Paulsens gold mine in Western Australia, Northern Star Resources (ASX: NST) is now completely debt-free.

Which in itself is an achievement after it paid Intrepid Mines (ASX: IAU) $40 million for Paulsens Mine not so long ago.

It can now aggressively explore at Paulsens and to consider other growth opportunities.

This no-hedging policy leaves the company ideally positioned to capitalise on the strong  gold price, currently at US$1,374 per ounce.

Paulsens produced a record 30,602 ounces in the September quarter, generating revenue of $40.5 million.

The Stage One mine plan, which underpinned Northern Star's decision to pay Intrepid Mines $40 million for Paulsens, ran until early 2011 and provided for production of 51,000oz from the Voyager One lode. This was quickly expanded by NST to 65,000oz.

Further drilling and subsequent exploration success has since led to the establishment of a Stage Two mine plan within the Voyager 1 resource, which will see the project continue beyond 2011. Diamond drilling is currently underway to further extend Stage Two.

Diamond drilling is also underway to establish the existence of the Voyager Two lode in which a discovery hole hit 2m at 40.5gpt. The lode has the potential to further increase mine life and production at Paulsens significantly.

More drilling results on stage two and stage three expansions are due over the coming weeks.

 

Article highlight

Debt free after three months and unhedged allows Northern Star to tap record high gold prices and generate more net cash flow. In turn, NST can put more dollars into exploration and extending mine life at Paulsens and, look at other opportunities.

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Fri, 26 Nov 2010 09:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155606/northern-star-resources-debt-free-looks-to-extend-mine-life-at-paulsens-12044.html
<![CDATA[News - Northern Star Resources resumes full capacity gold production at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155605/northern-star-resources-resumes-full-capacity-gold-production-at-paulsens-11600.html Gold production at the Northern Star Resources (ASX: NST) Paulsens Gold Mine in Western Australia is now back to full capacity, following a power outage earlier in the month, with the company saying the impact on production will be significantly less than anticipated.

Mining resumed five days ago, with the additional ore added to stockpiles.

Exploration at Paulsens continues, 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 the mine life well beyond 2011, with assays from both drilling programs expected within a month.

Earlier this week, Northern Star hit a bonanza 471g/t gold from the initial Voyager One Stage Two resource definition drilling campaign.

Other highlights from earlier in the week include:

- 1.9 m @ 39.6 g/t gold;
- 1.7 m @ 46.3 g/t gold;
- 4.8 m @ 30.7 g/t gold;
- 1.7 m @ 26.3 g/t gold;
- 2.4 m @ 23.6 g/t gold;
- 2.1 m @ 20.0 g/t gold; and
- 1.4 m @ 64.0 g/t gold.

Paulsens produced 9,906 gold ounces in October, over a quarter more than budget.

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Thu, 11 Nov 2010 09:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155605/northern-star-resources-resumes-full-capacity-gold-production-at-paulsens-11600.html
<![CDATA[News - Northern Star Resources hits up to 471g/t gold, adding to Stage Two mine plan at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155604/northern-star-resources-hits-up-to-471gt-gold-adding-to-stage-two-mine-plan-at-paulsens-11515.html Northern Star Resources (ASX: NST) has received more highly encouraging news at its Paulsens Gold Mine in Western Australia with extremely high-grade drilling results from the initial Voyager One Stage Two resource definition drilling campaign, with hits of up to 471g/t highlighting scope for a significant increase in mine life.

The results have added a second level (674mRL) to the Stage Two mine plan and provide more strong evidence that Paulsens will be extended beyond the current Stage One mine plan of 65,000 ounces.

Significant results include (all true width):

- 1.9 m @ 39.6 g/t gold (690mRL) Depth extension of UZ inc 0.5m @ 471 g/t (downhole intersection length);
- 1.7 m @ 46.3 g/t gold (674mRL) Depth extension of UZ;
- 4.8 m @ 30.7 g/t gold (694mRL);
- 1.7 m @ 26.3 g/t gold (666mRL) UZ2;
- 2.4 m @ 23.6 g/t gold (673mRL) Depth extension of UZ;
- 2.1 m @ 20.0 g/t gold (636mRL) Depth extension of LZ; and
- 1.4 m @ 64.0 g/t gold (740mRL) New Echo lode.

Northern Star agreed in June to pay Intrepid Mines (ASX: IAU) $40 million to acquire Paulsens on the basis of the project's Stage One mine plan, which provided for 55,000 ounces to be mined by early 2011. The Stage One mine plan has been subsequently upgraded to 65,000 ounces.

More recent drilling established that there would be a Stage Two at Paulsens, providing scope for further significant increases in production and mine life. And now these latest results show that Stage Two is also likely to be extended.

Bill Beament, managing director, said the results continued to show there is significant upside at Paulsens.

"Since this drilling was done, we have completed the 705 drill drive and now have two rigs operating," Beament said.

"This will enable us to pursue the extensions to Voyager 1, and therefore increase the mine life, at a rapid rate, generating strong news flow in the process.

"With the decline currently at the 670mRL, we will develop the 674mRL access later this month, opening up another production level.

"Substantial profit margins will be generated because production from Stage 2 levels will not be subject to the royalties Northern Star is paying Intrepid as part of the acquisition."

Northern Star announced earlier this week that it poured 9,906oz at Paulsens in October, almost 30 per cent more than budget. Over the September quarter, it poured a site record 30,602oz.

Importantly, drilling in the down plunge extension of the UZ hinge, which is currently the focus of production at the mine, has further confirmed the significant extension to the high-grade mineralisation. These results extend and increase the size of the UZ hinge and LZ limb, which both remain open at depth.

This latest drilling comprised resource extension drilling targeting the down plunge extensions of the Voyager One upper and lower zones below the 705mRL. The successful results of this initial campaign mean that the second production level at the 674mRL has now been added to the Stage Two mine plan.

Further aggressive drilling is underway in the 705 drill drive devised to extend resources/reserves and therefore mine life at Paulsens. One drill is focussing on the resource definition of the down dip extension of Voyager 1 lode.

The second drill is undertaking exploration drilling to follow up the Voyager 2 discovery hole where 2m at 40.5gpt was intersected on October 14.

 

Article highlight

Two diamond rigs drilling the Voyager 1 and 2 lodes will enable NST to increase the Paulsens mine life and potentially open up another production level at Stage Two, generating substantial profit margins.

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Tue, 09 Nov 2010 09:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155604/northern-star-resources-hits-up-to-471gt-gold-adding-to-stage-two-mine-plan-at-paulsens-11515.html
<![CDATA[News - Northern Star Resources produces 9,906oz gold in October at Paulsens, 30% above target ]]> https://www.proactiveinvestors.com.au/companies/news/155603/northern-star-resources-produces-9906oz-gold-in-october-at-paulsens-30-above-target-11479.html Northern Star Resources (ASX: NST) has continued to outperform expectations at the Paulsens Gold Mine in Western Ausralia, with 9,906 ounces of gold poured in October, 30% above target.

The bumper October results continue the trend established in the September quarter, when Paulsens posted record production of 30,602oz, and means Paulsens has again exceeded all budgets set by Northern Star, including the key benchmarks relating to gold mined, poured and sold.

The performance translates to revenue of $13.2 million generated in the month, an outstanding financial result for the company.

Bill Beament, managing director, said the results for October were again outstanding and last week's power outage would have a limited impact on Paulsens' performance in achieving the Stage 1 mine plan.

"Underground mining resumed at normal rates over the weekend, two diamond drills are drilling Voyager 1 and Voyager 2 lodes in the recently completed drill drive and processing will resume later in the month," Beament said.

"This has created an opportunity for the mining team to add ore to the surface stockpiles, which will set the mine up for a strong December performance."

Northern Star acquired Paulsens gold mine from Intrepid Mines (ASX: IAU) for a $40 million consideration and now owes a total of just $9.8 million thanks to the mine exceeding production and financial targets at every turn.

Gold recovered at Paulsens in October totalled 8,681oz compared with the budgeted level of 7,834oz with 27,896 t @ 10.2 g/t with 95% recovery.

Gold poured was 9,906oz and gold sold totalled 9,889oz. Mining at Paulsens in October produced 7,509oz from 19,322 tonnes at 12.1g/t.

At the end of the month there were 1,727oz of gold in transit, 1,609oz of gold in circuit and the surface stockpiles contained 5,614oz of gold ready for processing.

Paulsens also returned excellent exploration results in October, with the Voyager 2 lode discovery hole of 2m at 40.5g/t.

This result is highly significant because it shows the potential for mining to continue well beyond the current Stage One plan.

Repayments, including debt on the $40m acquisition have been slashed to just $9.8m; $10m in cash and cash equivalents on hand.

Surface stockpiles at 31 October contain 5,614oz and the mine has again exceeded budgets set at time of acquisition.


Article Highlight

NST's outstanding October production results add to the momentum building at Paulsens, where the Stage 1 mine plan is ongoing and will set the mine up for a strong December performance.

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Mon, 08 Nov 2010 09:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155603/northern-star-resources-produces-9906oz-gold-in-october-at-paulsens-30-above-target-11479.html
<![CDATA[News - Northern Star Resources mobilises power generators for Paulsens after fire ]]> https://www.proactiveinvestors.com.au/companies/news/155602/northern-star-resources-mobilises-power-generators-for-paulsens-after-fire-11420.html PowerWest Pty Ltd which is contracted to supply power at the Northern Star Resources (ASX: NST) Paulsens mine site, has mobilised two replacement generator sets to re-establish power after a fire on Tuesday 2 November in the power station disrupted supply.

Modifed activities underground are to re-commence, as two generators are now back in operation, with the next two generators expected to be operating by the end of this week, allowing mining to return to normal.

Two of the six generators, and some cabling, suffered fire damage.

Nobody was injured in the incident.

Northern Star said the power outage will disrupt gold production at Paulsens, with processing expected to resume later in the month when all generators are operating.

Managing Director of Northern Star, Bill Beament said the rapid response of site personnel and PowerWest enabled power supplies to resume to the mine yesterday afternoon.

With strong production from Paulsens in recent months, Northern Star has more than $10 million in cash and cash equivalents, with bank debt reduced to $2.5 million.

The temporary power and production disruption is not expected to compromise the company's ability to meet the debt repayment schedule.

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Thu, 04 Nov 2010 13:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155602/northern-star-resources-mobilises-power-generators-for-paulsens-after-fire-11420.html
<![CDATA[News - Northern Star Resources in trading halt pending mine update announcement ]]> https://www.proactiveinvestors.com.au/companies/news/155601/northern-star-resources-in-trading-halt-pending-mine-update-announcement-11331.html Perth-based Northern Star Resources (ASX: NST) has requested a trading halt pending release of an announcement about a mine update.

The halt will last until an announcement is made or commencement of trading on Thursday 4th November 2010.

On October 14, NST reported significant high grade gold hits at the Voyager Two mine that have the potential to add several years to the Paulsens Gold Project.

The company is now conducting follow up drilling to test the extent of Voyager Two, to establish the grade and parameters of and the subsequent impact on Paulsens' future.

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Tue, 02 Nov 2010 10:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155601/northern-star-resources-in-trading-halt-pending-mine-update-announcement-11331.html
<![CDATA[News - Northern Star bonanza style 40.5g/t hits at Paulsens to extend mine life ]]> https://www.proactiveinvestors.com.au/companies/news/155600/northern-star-bonanza-style-405gt-hits-at-paulsens-to-extend-mine-life-10806.html In an amazing turnaround, significant high grade gold hits at the Voyager Two mine has the potential to add several years to the Paulsens Gold Project, owned by Northern Star Resources (ASX:NST).

Drilling at Voyager Two returned; 2 metres at 40.5g/t, 175 metres; vertically below the bottom of the stage 1 mine plan, giving Northern the strong potential that that Paulsens’ mine life will be extended beyond 2011.

Northern will now conduct immediate follow up drilling to test the extent of Voyager Two, to establish the grade and parameters of and the subsequent impact on Paulsens future.

Bill Beament, managing director, said "This latest intersection is spectacular, but its importance to Paulsens in the wider context is far greater."

It must be noted that Paulsens has performed far beyond all expectations, since it was acquired by Northern from Intrepid Mines in July 2010, for what now appears as a bargain price of $40 million.

Beament himself is surprised with the success, saying in its early days they had little idea of the extent of the Voyager Two mineralisation.

"But it is already clear that this is the most significant development at Paulsens since Northern Star acquired the project."

It is expected to produce a total of 65,000 ounces under the Stage One mine plan, which runs until early 2011 and extends to a depth of 500m.

The Stage Two mine plan is being generated and allows for the mine to operate beyond 2011 to a depth of about 600m.

September 2010 gold production of 9,233 contributed to Northern posting a record production of 30,602 ounces for the September quarter.

Northern is now well positioned to become a major gold company.

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Thu, 14 Oct 2010 07:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155600/northern-star-bonanza-style-405gt-hits-at-paulsens-to-extend-mine-life-10806.html
<![CDATA[News - Northern Star Resources to announce 'significant drilling results' from Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155599/northern-star-resources-to-announce-significant-drilling-results-from-paulsens-10767.html The Paulsens Gold Mine appears set to deliver more positive news for Northern Star Resources (ASX: NST), with today the company requesting a trading halt pending'significant drilling results.'

Last week Northern announced bumper 9,233 ounces of gold production for the month of September, which contributed to the 30,602 ounces record production for the September quarter.

Northern Star is rapidly tranforming the mine life at Paulsens with aggressive exploration and likely increase in resources.  

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Wed, 13 Oct 2010 08:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155599/northern-star-resources-to-announce-significant-drilling-results-from-paulsens-10767.html
<![CDATA[News - Northern Star Resources pours record 30,602oz gold in September quarter at Paulsens ]]> https://www.proactiveinvestors.com.au/companies/news/155598/northern-star-resources-pours-record-30602oz-gold-in-september-quarter-at-paulsens-10555.html Northern Star Resources' (ASX: NST) bumper gold production of 9,233 ounces in the month of September has contributed to it posting record production of 30,602oz for the September quarter at its Paulsens Gold Mine in Western Australia.

Northern Star is now well positioned to become a major gold company and the "spectacular" results mean Paulsens has exceeded all budget forecasts set by the company for the quarter, including the key benchmarks of gold mined, poured and sold.

9,359oz gold was recovered in September with 28,359 t @ 10.7 g/t with 96% recovery. 9,233oz gold was poured in September versus a budgeted 7,628oz. There was 9,808oz of gold sales in September for $13M.

September underground mine production was 9,124oz from 21,183 t @ 13.4 g/t. Surface stockpiles at 30 September contain 7,229oz, which are ready for processing, and the mine has once again exceeded Northern Star’s acquisition model.

Bill Beament, managing director, said the results for each of the three months in the September quarter were outstanding when compared with Paulsens historical performances.

"We expect to again exceed both our own budgets and Paulsens’ historical results in the current quarter, though we recognise that matching the September quarter performance will be no mean feat," Beament said.

"Recent exploration results show Paulsens is set to continue until 2012 and beyond, generating strong ongoing cashflow which will in turn enable the company to take full advantage of any project and corporate acquisition opportunities that arise."

The revenue of $40.5 million generated in the quarter is $5.5 million more than budgeted by Northern Star at the time it agreed to buy Paulsens from Intrepid Mines and has enabled the company to rapidly accelerate repayment of both Intrepid and the debt provided by RMB Resources Australia.

This has resulted in Northern Star now owing a total of just $15 million on the $40 million acquisition.

These results follow record gold pours in July and August of 10,546oz and 10,823oz respectively. The milling results for September were made more impressive by the fact that 20 per cent of the mill feed was sourced from the surface low grade stockpile (2g/t).

Low grade ore was blended with the very high grade (13.4g/t) ore mined during the month to ensure high gold recoveries in the mill were maintained.

At the end of the month there were 2,438oz gold in transit and 2,834oz gold in circuit.

The September quarter at Paulsens was also marked by bumper exploration results  which highlight the significant potential for mining to continue well beyond the current Stage One plan.

Stage One provides for total production of 65,000oz by early 2011. However, a host of recent high-grade intersections of up to 38g/t have been recorded below and outside the current mine plan, paving the way for a resource upgrade and underpinning plans for Stage Two.

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Wed, 06 Oct 2010 05:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/155598/northern-star-resources-pours-record-30602oz-gold-in-september-quarter-at-paulsens-10555.html
<![CDATA[News - Northern Star Resources sees Paulsens gold resource upgrade on bumper drilling results ]]> https://www.proactiveinvestors.com.au/companies/news/155597/northern-star-resources-sees-paulsens-gold-resource-upgrade-on-bumper-drilling-results-10338.html Northern Star Resources (ASX: NST) has received "extremely" high-grade drilling results from its Paulsens Gold Mine in Western Australia, which are as high as 38.5gpt, and provide more strong evidence that Paulsens mine life will be extended.

The results were received from outside the recently updated 65,000 ounce Stage 1 Mine Plan at Paulsens and development work provides an ideal platform for Stage 2 drilling.

Significant results include (all true width):

- 2.8 m @ 28.9 g/t gold (680mRL) Depth extension of UZ
- 3.0 m @ 26.2 g/t gold (702mRL) Depth extension of UZ
- 1.5 m @ 38.5 g/t gold (690mRL) Depth extension of UZ
- 1.0 m @ 30.9 g/t gold (675mRL) Depth extension of LZ

An initial review of the results reveals the existence of substantial mineralisation located outside and below the current mine plan within the Voyager resource model.

Significantly, drilling in the down plunge extension of the UZ hinge which is currently the focus of production at the mine has further confirmed an extension to the high grade mineralisation. These results extend and increase the size of the UZ hinge and LZ limb which both remain open at depth.

The recent drilling comprised grade control infill drilling to increase confidence in the mine plan model and resource extension drilling down plunge of the Voyager upper and lower zones.

These results, along with recent mining reconciliations, have contributed to an increase in the Stage 1 Mine Plan from 55,000 ounces to 65,000 ounces in Voyager 1 between 705 and 800 RL and have added the first level (689mRL) for the Stage 2 mine plan. The 689 level is currently being excavated with first ore expected to be intersected late in this month.

Step out drilling from the surface and specialised underground platforms such as the newly excavated 705 drill drive has shown that the mineralisation is open at depth down plunge in the UZ and LZ.

Further aggressive drilling is underway in the 705 drill drive devised to extend resources/reserves and therefore mine life at Paulsens.

Northern purchased Paulsens from Intrepid Mines (ASX: IAU) in June this year for $40 million, after having to increase the bid from $27 million to reflect the higher Australian dollar gold price.

In August Northern Star enjoyed another record month at Paulsens with the project beating both internal budgets and previous records on all key benchmarks with gold recovered totalling 11,269oz compared with the budget level of 7,643oz. Results included 28,981 t @ 12.5 g/t with 97% recovery.

Bill Beament, managing director, said further announcements will be released regarding ongoing underground diamond drilling, resource evaluations and the September mine update in the coming weeks.

Northern Star has a market capitalisation of A$54 million and and shares are currently trading at 19 cents.

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Tue, 28 Sep 2010 05:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155597/northern-star-resources-sees-paulsens-gold-resource-upgrade-on-bumper-drilling-results-10338.html
<![CDATA[News - Northern Star Resources gold mine at Paulsens a pot of gold ]]> https://www.proactiveinvestors.com.au/companies/news/155596/northern-star-resources-gold-mine-at-paulsens-a-pot-of-gold-10036.html Emerging gold miner Northern Star (ASX: NST) is having some bumper success at the Paulsens Gold Mine in Western Australia, with the company well established to continue building on current record gold production months.

Northern purchased Paulsens from Intrepid Mines in June this year for $40 million, after having to increase the bid from $27 million to reflect the higher Australian dollar gold price.

In hindsight, this was a very clever move by Northern.

Gold recovered at Paulsens in August 2010 totalled 11,269oz compared with the budget level of 7,643oz, and results included 28,981 t @ 12.5 g/t with 97% recovery.

Gold poured was 10,823oz compared with the budget of 7,261oz, with gold sold totalling 10,553oz.

In the last three months 26,022 oz of gold has been poured.

In terms of ticking boxes, NST has done that:

- Stage 1 Mine Plan is now 65,000 oz, exceeds acquisition model by over 10,000 oz
- Gold mined of 36,597 oz, 21% above acquisition model
- Gold poured of 26,022 oz, 25% above acquisition model
- Gold sold of 23,011 oz @ A$1,356/oz for $31.2M
- 20% positive reconciliation factor on grade and gold recoveries averaging 97%
- Site costs tracking as per acquisition model
- Capital Development completed for Stage 1 mine plan, decline at the 685 level
- 57% of the gold in the upgraded plan has now been mined and on the surface (de-risked)

$40M total consideration, re-payment milestones:

- 70% of Intrepid Mines consideration paid
-  $15M upfront payment upon settlement - completed
- $9.6M performance based payments - completed
- $3M of instalments, July and October 2010 – completed
- $7.4M performance based payments remaining – end of 2010
- $5M Top-up payments if mine continues beyond 57,500oz
- No further performance payments after 62,500oz of production
- $6.9M of bank debt repaid after only 45 days from settlement
- Around $6.5M of bank debt remaining at end of Sep 2010

Since our initial note and belief the deal undervalued NST by 3-4x when the share price was 4.5c, the market has caught up with how sweet a deal it was.  That said, after a consolidation, further upside is likely.

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Wed, 15 Sep 2010 12:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155596/northern-star-resources-gold-mine-at-paulsens-a-pot-of-gold-10036.html
<![CDATA[News - Northern Star Resources sees increase in life of Paulsens Gold Mine ]]> https://www.proactiveinvestors.com.au/companies/news/155595/northern-star-resources-sees-increase-in-life-of-paulsens-gold-mine--9738.html Northern Star Resources (ASX: NST) has reported that initial drilling at its Paulsens Gold Project in Western Australia has intersected gold 150m below the stage 1 mine plan, pointing to the existence of an additional lode under the known mineralisation.

The intersection of 3.4m @ 1.5g/t Au, includes 0.44m @ 6g/t, points to the existence of a third mineralised lode, known as Voyager Two, and uncovers firm evidence that the mine could continue for significantly longer than currently planned.

Northern Star believes the intersection is geologically pivotal because it shows the mine plan could be extended beyond the current timetable of late 2011-early 2012.

Under the current plan, known as Stage One, Paulsens will be mined to a depth of 500 metres below surface (mbs).

Bill Beament, managing director, said "while the intersection was not of spectacular grade or width, it was crucial because it supported the company's geological model which indicated that the Voyager Two mineralisation extends down plunge, slightly overlapping and beneath the Voyager One lode."

"This result is early days in terms of establishing the existence and the extent of the Voyager Two lode but it is entirely consistent with our geological modelling and therefore gives us enormous confidence that Paulsens could have many years of highly productive life ahead of it."

"We will proceed full-steam ahead with the remaining holes in this program to establish the extent of Voyager Two and at the same time pursue our in-mine resource extension campaign in a bid to grow the Paulsens gold inventory as much as possible, as rapidly as possible," Beament added.

When Northern Star acquired Paulsens at the end of July, it said Stage One would produce 51,000 ounces in the nine months to the end of February, 2011. This was based on based on mining the Voyager One lode at a depth of 400 (800RL) to 500mbs (700RL).

Subsequent drilling results have showed the Voyager One mineralisation continues to 550mbs, which has an inferred resource of about 39,000 ounces, under Stage Two.

Provided further drilling enables the category of this resource to be upgraded, Stage Two is expected to see the mine life at Paulsens extended until at least late 2011 to early 2012.

Voyager Two raises the distinct prospect of the mine life at Paulsens being extended beyond 2012 under a Stage Three scenario which involves aggressive near-mine and regional exploration to further extend resources and reserves.

The initial assay results have been received quickly because they are from the site laboratory (Leachwell) and hence are only preliminary at this stage. They will be confirmed later via screen fire assay at ALS laboratories.

This is the first hole in a four-hole program to reach the target area, with the third hole currently in progress.

After this initial four-hole program the rig will be relocated to a more suitable platform at the purpose built 705 drill drive which is under current construction and due for completion at the end of October.

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Thu, 02 Sep 2010 07:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/155595/northern-star-resources-sees-increase-in-life-of-paulsens-gold-mine--9738.html