Sydney, Jan 20, 2026, 17:06 AEDT — The market has closed.
- Northern Star shares ended the day 1.08% higher, closing at A$27.98, after moving within a range of A$27.47 to A$28.08
- Miner raised its FY26 all-in sustaining cost forecast to A$2,600–A$2,800 per ounce
- Results for the December quarter will be released on Jan. 22
Northern Star Resources ended Tuesday up 1.08%, closing at A$27.98. The Australian gold miner had lifted its full-year cost guidance. Shares fluctuated between A$27.47 and A$28.08 during the session.
The clock is ticking. The cost reset comes after a production downgrade revealed by softer December-quarter gold sales, giving investors little time before the next data release.
Northern Star has raised its FY26 all-in sustaining cost (AISC) guidance to A$2,600–A$2,800 an ounce, up from the previous range of A$2,300–A$2,700, according to a statement filed with the ASX. The company cited lower gold sales and increased royalties driven by higher gold prices, adding roughly A$40 an ounce to its original forecast. Sustaining capital guidance remains steady at about A$750 million. AISC hit A$2,937 per ounce in Q2 and averaged A$2,720 for H1. Northern Star plans to release its full December-quarter results on Jan. 22.
Gold prices surged to a record $4,701.23 an ounce on Tuesday, driven by escalating trade tensions that boosted demand for safe-haven assets. Tim Waterer, chief market analyst at KCM Trade, noted, “Trump’s ‘disruptive’ policy approach … suits precious metals very well.” Reuters
Higher bullion prices boost miners’ revenue, but Northern Star noted that rising royalties climb in tandem, directly hitting its cost line. This means the cost range matters just as much as the gold price itself.
Traders are zeroing in on the December-quarter numbers: sales volumes, cost trends heading into H2, and if the company can nudge AISC back toward the center of the updated range. Even slight shifts in ounces sold can quickly move unit costs when fixed expenses stay flat.
But with the new range, there’s less wiggle room if output falls short again. Should gold sales remain weak across production hubs, costs might hover near the high end, squeezing cash flow. Any drop in bullion prices would hit revenue hard before costs can come down.
Northern Star will release its December-quarter results on Thursday, Jan. 22. The next key trigger for the stock will be any updates to production or sustaining capital guidance, along with how the company positions royalties amid soaring gold prices.
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