Key Highlights

  • Northern Star Resources (ASX:NST) traded at A$25.42 during the 6 November 2026 session, down 2.01%.
  • The September 2026 Quarterly Report of 21 October 2026 reported 364 koz of gold sold at an AISC of A$3,217 per ounce.
  • FY27 guidance of 1,500 to 1,650 koz of gold sold was unchanged in the report.

Northern Star Resources (ASX:NST) shares were quoted at A$25.42 during the 6 November 2026 session, down 2.01%. Over the same session the S&P/ASX 300 Metal & Mining index (XMM) fell 2.92% to 7,699.50, and the S&P/ASX 200 (XJO) was down 0.49% at 9,020.80. The share price move is not linked to the quarterly report dated 21 October 2026. Northern Star is an Australian gold producer with operations in Western Australia and a development pipeline that includes the Hemi project in Nevada.

Latest Developments

September 2026 Quarterly Report (released 21 October 2026)

Northern Star sold 364 koz of gold in the September quarter at an All-In Sustaining Cost of A$3,217 per ounce (US$2,244 per ounce). Net mine Cash Flow was A$210 million, with all three production centres generating positive net cash flow. Group underlying free cash flow was A$(31) million, after A$113 million of corporate tax payments.

Cash and bullion totalled A$1,200 million at 30 September 2026. The company said it had used A$500 million of bank facilities after quarter end to maintain its targeted cash position.

KCGM Mill Expansion and Leadership Change

The company said the KCGM mill tie-in was completed on 28 September 2026 and that commissioning of the integrated plant had begun. Stage II commissioning is scheduled for early in the second half of FY27 and is expected to deliver a 1 to 2% recovery uplift. The report also noted that Suresh Vadnagra started as Managing Director and CEO on 5 October 2026.

About the Company

Northern Star is an ASX-listed gold producer. Its report describes three production centres, including KCGM in Western Australia, and reports safety results on a sustained injury frequency basis. The company provides production, AISC and cash flow guidance for each financial year.

Business Overview

Northern Star's Business is gold mining and processing, with its KCGM operations in Western Australia central to current production. The company is also progressing the Hemi project, for which the report says studies are advancing towards a final Investment decision late in FY27.

Sector Context

Gold producers are influenced by the gold price and by their cost base. On 6 November 2026 the S&P/ASX 300 Metal & Mining Index (XMM) fell 2.92% to 7,699.50. The session data recorded gold at US$4,076.20, down 0.91%, while the broader market was weaker overnight. On 6 November 2026 the session data showed weakness in international markets overnight, and gold, silver and copper all eased.

Risks to Watch

The report identifies commissioning risk at the integrated KCGM plant, which the company said is in its early stages. Higher corporate tax payments and cash outflows on bank facilities are also visible in the report, and gold price movements and A$ exchange rates affect margins.

Catalysts on Watch

Investors may follow the commissioning of the integrated KCGM plant, the Stage II start in early FY27, progress on Hemi studies and the company's next quarterly report. The new CEO's first full reporting period may also attract attention.

Final Takeaways

Northern Star Resources (ASX:NST) traded lower on 6 November 2026 in a session that also weighed on gold-linked stocks. Its September 2026 quarterly report, released on 21 October 2026, reported gold sold, cash and FY27 guidance, all of which were unchanged in the release. Readers can refer to the full report for mine-level data.