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Northern Star achieves record operating cash flow of A$103M for March quarter; AISC down further 5%

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Northern Star achieves record operating cash flow of A$103M for March quarter; AISC down further 5%

Northern Star ResourcesLtd. said April 14 that it recorded "extremely strong" resultsfor the March quarter with 143,469 ounces of gold sold, up from 142,017 ounces inthe December quarter of 2015.

Gold sales were at the top end of the company's full-year guidanceof 535,000 ounces to 570,000 ounces, it said.

Gold sold for the nine-month period to March 31 totaled 427,042ounces.

All-in sustaining costs for the March quarter dropped 5% on aquarterly basis to A$985 per ounce on the back of lower contracting, labor and supplyrates recently negotiated. All-in sustaining costs for the nine months remainedunder the guidance range of A$1,050 per ounce to A$1,100 per ounce.

Northern Star said it achieved record operating cash flow ofA$103 million for the March quarter, and A$66 million of free cash flow.

The company is on track to increase its production to 700,000 ounces per year by 2018, it added.

In mid-February, Northern Star declared an of 3 Australian cents pershare for the six-month period ended Dec. 31, 2015, compared to 2 cents per sharedeclared a year earlier after a 79% year-over-year increase in net profit to A$65.1million.