Highlights

  • Northern Star Resources (ASX:NST) traded at AUD 26.54 on 11 November 2026, declined 0.30% during the session.
  • September-quarter gold sold totalled 363,891 ounces.
  • September-quarter AISC was AUD 3,217 per ounce.
  • FY27 guidance remained 1.50–1.65 million ounces of gold sold.

Northern Star Resources (ASX:NST) operates underground and open-pit gold mines across its production centres, including Kalgoorlie, Yandal and Pogo. On 11 November 2026, shares of Northern Star Resources (ASX:NST) changed hands at AUD 26.54, with a reported session movement of -0.30%. Recent 2026 developments place emphasis on gold operations, reported financial performance and the milestones set out in its current project or operating programmes.

Gold Mining Across Three Production Centres

Northern Star Resources (ASX:NST) operates gold mines and processing facilities across its Kalgoorlie, Yandal and Pogo production centres. Its operating results depend on mining rates, mill availability, ore grade, recovery and the timing of gold sales. The KCGM operation is a focus of current plant Investment and commissioning work, which can temporarily influence throughput and unit costs.

Gold sold is a reported commercial output measure, while gold production and stockpile changes may differ in a given quarter. Northern Star Resources (ASX:NST) also reports all-in sustaining costs to place recurring site-level expenditure in relation to ounces sold. Those cost figures should be interpreted alongside Cash Flow and project Capital commitments.

September Quarter Gold Sales and Costs

During the September 2026 quarter, Northern Star sold 363,891 ounces of gold at an All-In Sustaining Cost of AUD 3,217 per ounce. Kalgoorlie accounted for approximately 193,540 ounces sold, Yandal for 117,631 ounces and Pogo for 52,720 ounces. The group indicated that grade and recovery factors, including at Pogo and during KCGM commissioning, affected performance.

Northern Star Resources (ASX:NST) reported September-quarter gold sales Revenue of approximately AUD 1.819 billion and average realised gold pricing of AUD 4,999 per ounce. Net mine cash flow reached AUD 210 million. Cash and bullion were approximately AUD 1.2 billion at 30 September 2026. These are company-level operating and balance-sheet metrics rather than market quotations for its Equity shares.

KCGM Expansion and FY27 Guidance

The company maintained FY27 guidance of 1.50 million to 1.65 million ounces of gold sold, with group all-in sustaining costs of AUD 3,050 to AUD 3,450 per ounce. The company expected production to be weighted to the second half of FY27 as expanded KCGM processing capacity progressed. Guidance reflects management expectations and remains subject to operational conditions.

A major growth projects update on 9 November 2026 followed the September quarterly report. Northern Star Resources (ASX:NST) had completed a KCGM mill tie-in and commenced commissioning, while Hemi project studies were progressing towards a potential investment decision later in FY27. Commissioning completion and any future project approval must be distinguished from the planned timetable.

Commissioning Risk and What to Monitor

Gold prices can affect realised revenue, but they do not remove risks from grades, recoveries or capital-intensive plant work. New processing infrastructure can experience commissioning interruptions before steady-state operation is established. Mine development, labour and maintenance spending also influence unit costs and free cash flow.

For Northern Star Resources (ASX:NST), monitoring points include KCGM throughput, Pogo operating performance, quarterly costs, gold sales volumes and the progression of Hemi studies. The next scheduled December-quarter results are due in January 2027. Actual operating results will be needed to assess whether second-half production weighting occurs as guided.

Key Insights

Northern Star Resources (ASX:NST) is being assessed against its reported 2026 gold activity and the results or milestones associated with its operations. The latest disclosures show both operating progress and specific execution or financial considerations. Future company results, cash flow and completion of outstanding project steps will provide the evidence for evaluating subsequent performance; equity trading prices should remain separate from underlying Commodity quotations.