Tag: Bill Beament

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Northern Star Set for May Reserve Resource Upgrade

ASX 100 Miner Northern Star Resources has delivered its March 21 quarterly activities report noting strong progress to a May Reserve resource upgrade – Which Managing Director Raleigh Finlayson mentioned on a conference call to “watch this space”. Whilst reporting that factors such as a 14 day mill shutdown at KCGM modernising mill control systems, Unplanned maintenance at Thunderbox on the mill motor and lower head grades at Pogo.  

Northern Star reported underlying free cash flow of A$97 million at an average realised price of A$2,222 per ounce.  

Highlights from operations included 

Yandal – Jundee – Development advance was especially strong in March with a new monthly record for jumbo advance of +2,000m. 

Yandal – Thunderbox – Investment continues in a large, shallow single-stage cutback adjacent to the mill. 

Kalgoorlie – KCGM – The new underground portal was successfully cut in the “Super Pit” with development currently advancing. This is located in the Western Wall and is the first new underground activity on the Golden Mile in decades. 

A CAT 793 hauls up a ramp at the KCGM Super Pit

Kalgoorlie – Kanowna – District milling optimisation has commenced, with 24kt of Mt Charlotte ore successfully treated at Kanowna Belle, resulting in a >3% recovery improvement to 87.5%. 

Kalgoorlie – Carosue Dam – The mill delivered record quarterly throughput of 887kt. 

Pogo – The ongoing focus is accelerated decline advance to enable access to additional stoping horizons and set up diamond drill platforms to further grow the Pogo Resource. 

A new strategic road map will be presented in July. Executive Chair Bill Beament said “We have overcome a few one-off events to ensure we remain on track to meet our annual guidance This is a huge credit to our team and also reflects the underlying quality of the assets. “ 

“In addition to this achievement, there has been enormous progress made behind the scenes on several fronts. This includes the extensive exploration campaign, which will feed into the May Reserve and Resource update. This will in turn be a central plank of our Strategy Day in July.” he said 

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Top Story – Bill Beament Leaves Northern Star In July.

Northern Star Resources Limited has provided an update. In their efforts to initiate a global search for an Independent NonExecutive Chair, Bill Beament will retire from the Northern Star Board, effective July 1, 2021. Mr Beament has agreed to take up an Executive Director role with Venturex Resources from July 1. Mr Beament said he fully appreciated the opportunity to help Northern Star generate exceptional results for all stakeholders. “I share the view that now is the right time for Northern Star to begin the search for an Independent Chair,” he said. “The Company is in an extremely strong position, with an outstanding team and some of the best gold assets in the world.”

Northern Star Non-Executive Director John Fitzgerald thanked Mr Beament for his outstanding contribution. “Bill has guided Northern Star through a period of exceptional growth, building a globally-significant gold company which generates substantial returns for Shareholders,” Mr Fitzgerald said.

The Northern Star Board has decided that Independent Non-Executive Director John Fitzgerald will perform the role of Independent Non-Executive Chair from then until the appointment of the new Chair.