Sydney, Jan 12, 2026, 11:04 AEDT — Regular session
- Northern Star shares climbed Monday, clawing back part of their losses from earlier this month following a guidance reset.
- After a weaker December quarter, investors remain eager for clearer details on upcoming costs.
- The next catalyst is the December-quarter report and call scheduled for January 22, followed by the half-year results on February 12.
Northern Star Resources (ASX:NST) shares climbed 2.2% on Monday, clawing back some losses after a guidance cut rattled the Australian gold miner earlier this month. By 11:04 a.m. AEDT, the stock traded at A$25.26, up from Friday’s close of A$24.72. (Intelligent Investor)
The bounce is crucial since the company hasn’t updated its cost projections for the year yet. Investors are weighing if the late-quarter issues were isolated or if they’ll continue to erode throughput and cash flow.
The next update arrives Jan 22, with the miner set to release its December-quarter report and brief analysts. This report will likely shape sentiment for the month ahead, for a stock that’s been moving more on cost pressures than growth prospects.
Northern Star reported in an ASX statement on Jan 2 that gold sales for the December quarter hit roughly 348,000 ounces, pushing first-half sales to around 729,000 ounces. The company also lowered its fiscal 2026 sales forecast to between 1.6 million and 1.7 million ounces, down from the previous 1.7 million to 1.85 million. It noted the quarterly figures are preliminary.
Responding to an ASX query, the company detailed the key operational issues: its primary crusher at the Kalgoorlie site (KCGM) underperformed from late November, then broke down on Dec 23. Repairs wrapped up with a rebuild and recommissioning on Jan 5. They also flagged carbon-in-leach failures at Thunderbox—part of the gold extraction process—and lower grades at Orelia. Together, these factors likely cut December-quarter sales by around 16,000 ounces. Northern Star said it’s not yet able to say how this weaker quarter might influence its full-year cost guidance.
Chief executive Stuart Tonkin said on a Jan 5 call that the company will share “December quarter costs … as well as any outlook to the full year cost guidance” alongside its Jan 22 release. He noted the updated forecast points to second-half production between 871,000 and 971,000 ounces. (Seeking Alpha)
Morningstar’s market data pegged the miner’s value around A$36 billion. Since the operational update on Jan 2, the stock has dropped roughly 5.5% from its A$26.73 price. (Intelligent Investor)
The cost line remains uncertain. Should weaker sales drive up all-in sustaining costs—a key industry metric covering operating expenses and sustaining capital—analysts might need to revisit their models once more.
Northern Star is set to release its December-quarter results before the market opens on Thursday, Jan 22. The company will follow up with a 9 a.m. AEDT conference call, featuring CEO Tonkin, CFO Ryan Gurner, and COO Simon Jessop, it announced.
Investors will then turn their attention to the half-year results on Feb 12 for a clearer picture of margins and cash flow, following a tough December quarter. (NSR Limited)
