Key Highlights

  • Evolution Mining (ASX:EVN) fell 2.56% to A$12.92, while Northern Star (ASX:NST) fell 2.01% to A$25.42 and South32 (ASX:S32) fell 1.65% to A$4.475.
  • Northern Star sold 364 koz of gold in the September quarter at an AISC of A$3,217 per ounce and kept FY27 guidance unchanged.
  • South32 shareholders approved the sale of the aluminium value chain to Alcoa on 15 October 2026.

Company

Ticker

Price (A$)

% Change

Northern Star Resources Ltd

NST

A$25.42

-2.01%

Evolution Mining Ltd

EVN

A$12.92

-2.56%

South32 Ltd

S32

A$4.475

-1.65%

Two gold producers and a diversified base metals company all traded lower on 6 November 2026. Northern Star and Evolution are two of the larger ASX gold names, while South32 offers exposure to copper, zinc and manganese. Their latest reports cover different periods and different Commodity mixes, so the comparison here is about the operating and cash position each company reported rather than about the share moves. The session was a broad sell-off across ASX resources. The S&P/ASX 300 Metal & Mining index (XMM) fell 2.92% to 7,699.50, the S&P/ASX 200 Materials Index (XMJ) fell 2.51% to 22,604.40, and the S&P/ASX 200 (XJO) was down 0.49% at 9,020.80. Overnight, the S&P 500 fell 4.36%, the Nasdaq 5.52% and the Nikkei 225 5.80% at the 5 November close, and the session data links the local move to that international weakness. Gold was quoted at US$4,076.20 (down 0.91%), silver at US$51.98 (down 0.67%) and copper at US$13,777.00 (down 0.18%). 

Northern Star Resources Ltd (ASX:NST)

Northern Star traded at A$25.42 during the session, down 2.01%. Its September 2026 quarterly report, dated 21 October 2026, recorded 364 koz of gold sold at an AISC of A$3,217 per ounce (US$2,244). Net mine Cash Flow was A$210 million, with all three production centres cash positive, and cash and bullion totalled A$1,200 million. FY27 guidance of 1,500 to 1,650 koz was unchanged. The KCGM mill tie-in was completed and commissioning had started, and Suresh Vadnagra took over as Managing Director and CEO on 5 October 2026.

Evolution Mining Ltd (ASX:EVN)

Evolution was quoted at A$12.92, down 2.56%, the largest fall in this group. Its September 2026 quarterly report, dated 14 October 2026, reported 154 koz of gold and 18 kt of copper, with AISC of A$1,653 per ounce. Group net mine cash flow was A$466 million and net cash rose A$141 million to A$1,470 million in cash. Ernest Henry delivered a record net mine cash flow of A$186 million. FY27 Group guidance was maintained, and the board approved A$72 million (Evolution's share) for a concentrate regrind project at Northparkes.

South32 Ltd (ASX:S32)

South32 traded at A$4.475, down 1.65%, the smallest fall in this group. Its September 2026 quarterly report, which refers to events up to 15 October 2026, said Sierra Gorda's copper equivalent output rose 11% and the company received a record quarterly distribution of US$153 million. Manganese production rose 14%, Cannington zinc output fell 27%, and net cash reached US$297 million. Production guidance was unchanged, and shareholders approved the Alcoa aluminium sale, expected to complete in the June 2027 half year. The release date is not shown in the document.

Sector Context

The three companies had different reporting periods, but their releases point to steady operations. Gold producers are tied to the gold price, which was down 0.91% on the day, while South32 is more exposed to copper and zinc. Both gold producers reported unchanged FY27 guidance, and South32 reported unchanged production guidance across its operations.