Northern Star expands resources; revises mine plan
Northern Star Resources (ASX: 聽NST) said the resource聽inventory at its Paulsens Gold Mine in Western Australia has increased to 226,000 ounces while a new 2011 mine plan has concluded 聽that the company is set to聽generate between $20 and $40 million of surplus cash this year.
The increased resource figure, which compares with 聽the previous estimate of聽128,700oz, comes despite Northern Star
mining 71,000oz at Paulsens during 2010. This represents a 122% increase in聽resources year on year.
This increased resource estimate excludes the Voyager 2 lode at Paulsens, which Northern Star discovered last year.聽The company believes Voyager 2 has the exploration “target” potential to add a further 100,000-250,000 oz聽based on聽drill results achieved so far.
The 2011 mine plan forecasts that Paulsens will produce between 60,000 and 75,000 oz this year, enabling聽Northern Star to record surplus cashflow of between $20 million and $40 million at a gold price of A$1,400/oz gold.
For more information click
{{ commodity.name }}
{{ post.title }}
{{ post.date }}
Comments