NST: September 2026 Quarterly Activities Report
Original announcement by asx on
- Company
- Northern Star Resources Ltd
- Ticker
- NST
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Production, Metallurgy
- Extracted
- 2026-10-20 22:42:21 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Northern Star Resources Ltd reported its September 2026 quarterly activities, with gold sold totaling 364koz at an AISC of A$3,217/oz. The KCGM mill tie-in was completed, and commissioning of the expanded plant is underway, which is expected to deliver a 1-2% recovery uplift in 2H FY27. While the quarter saw higher AISC and negative underlying free cash flow due to commissioning impacts and tax payments, FY27 guidance remains unchanged, and the company maintains a strong cash position.
Reasoning: The September quarter saw the completion of the KCGM mill tie-in, a significant operational milestone expected to deliver a recovery uplift. However, commissioning activities led to higher AISC and lower gold sold for the quarter, resulting in negative underlying free cash flow. Despite this, FY27 guidance remains unchanged, and the company maintains a strong cash and bullion position.
Positive factors
- operational_milestone
- recovery_improvement
- strong_cash_position
- unchanged_guidance
Negative factors
- higher_aisc
- negative_free_cash_flow
- commissioning_impacts
- project_delay
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 180
Classification and evidence
Operational Milestonepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The KCGM mill tie-in was completed and commissioning is progressing, representing a significant operational achievement.
Evidence · text
“KCGM mill tie-in complete and commissioning progressing”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("CIL")
Extracted facts
Stored fact records: 11. Some facts used in scoring do not have a stored record.
Metallurgical Results (11)
Fact 1KCGM · goldView all detailsHide details
Identity
- Project
- KCGM
- Commodity
- gold
- Ticker
- NST
Test Work
- Program Status
- optimization
- Processing Route
- integrated plant
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Expected recovery uplift from the KCGM mill expansion indicates improved metallurgical performance.
Positive factors
- recovery_improvement
Evidence · text
“expected to deliver a 1–2% recovery uplift”
Fact 2Total · goldRecovery: 83 %View all detailsHide details
Identity
- Project
- Total
- Commodity
- gold
- Ticker
- NST
Recovery
- Recovery
- 83 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Total recovery percentage for the quarter.
Evidence · table
“83”
Context: Processing
Fact 3Kalgoorlie · goldRecovery: 81 %View all detailsHide details
Identity
- Project
- Kalgoorlie
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 81 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Kalgoorlie recovery percentage for the quarter was lower than expected due to commissioning activities.
Negative factors
- low_recovery
Evidence · table
“81”
Context: Processing
Fact 4Yandal · goldRecovery: 86 %View all detailsHide details
Identity
- Project
- Yandal
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 86 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Yandal recovery percentage for the quarter.
Evidence · table
“86”
Context: Processing
Fact 5Pogo · goldRecovery: 88 %View all detailsHide details
Identity
- Project
- Pogo
- Commodity
- gold
- Ticker
- NST
Recovery
- Recovery
- 88 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Pogo recovery percentage for the quarter.
Evidence · table
“88”
Context: Processing
Fact 6KCGM · goldRecovery: 76 %View all detailsHide details
Identity
- Project
- KCGM
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 76 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: KCGM recovery percentage for the quarter was lower than expected due to commissioning activities.
Negative factors
- low_recovery
Evidence · table
“76”
Context: Recovery
Fact 7Carosue Dam · goldRecovery: 90 %View all detailsHide details
Identity
- Project
- Carosue Dam
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 90 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Carosue Dam recovery percentage for the quarter.
Evidence · table
“90”
Context: Recovery
Fact 8Kalgoorlie Operations · goldRecovery: 87 %View all detailsHide details
Identity
- Project
- Kalgoorlie Operations
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 87 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Kalgoorlie Operations recovery percentage for the quarter.
Evidence · table
“87”
Context: Recovery
Fact 9Jundee · goldRecovery: 84 %View all detailsHide details
Identity
- Project
- Jundee
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 84 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Jundee recovery percentage for the quarter.
Evidence · table
“84”
Context: Recovery
Fact 10Thunderbox & Bronzewing · goldRecovery: 87 %View all detailsHide details
Identity
- Project
- Thunderbox & Bronzewing
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- NST
Recovery
- Recovery
- 87 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Thunderbox & Bronzewing recovery percentage for the quarter.
Evidence · table
“87”
Context: Recovery
Fact 11Pogo · goldRecovery: 88 %View all detailsHide details
Identity
- Project
- Pogo
- Commodity
- gold
- Ticker
- NST
Recovery
- Recovery
- 88 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-20T00:00:00.000Z
Reasoning: Pogo recovery percentage for the quarter.
Evidence · table
“88”
Context: Recovery
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.