ASX:NST

Northern Star Resources Does Not Understand Magnitude of Required Change, Elliott Says

Northern Star Resources' (ASX:NST) board has formally acknowledged the company's underperformance, but a recent letter to shareholders suggests it "does not understand the magnitude of change required" to regain their trust, activist investor Elliott Investment Management said Thursday.Elliott, which earlier disclosed a stake of more than AU$1 billion in Northern Star, is pushing the company to launch a strategic review that includes a potential sale, and strengthen its board.In response to Elliott's initial outreach, Northern Star Chairman Michael Chaney said the company has been approached by various parties over a possible corporate combination, but it is not the right time to pursue a sale process."The board cannot simultaneously acknowledge inbound corporate interest, confirm its advisers have modeled structural options, and then decline to run any kind of formal process," Elliott said. "The case for a strategic review is now more apparent than it was before the board published its letter."The activist investor believes Northern Star must move immediately to restore shareholder value by bolstering its board and launching a formal strategic review of alternatives."No options should be taken off the table, and no outcome should be prejudged," it said.Northern Star Resources did not immediately reply to a request for comment from.The company's shares declined 2% in recent Thursday trade.

Australian Shares Rise; Steadfast Group Receives AU$8 Billion Takeover Proposal From Amwins, Dragoneer

Australian shares rose on Wednesday amid freshly renewed hostilities between the US and Iran.The S&P/ASX 200 Index gained 0.57%, or 49.10 points, at 8,653.30.Brent crude oil futures rose to trade at around $91 per barrel after the US held Iran responsible for the downing of a US military helicopter.On the domestic front, seasonally adjusted data revealed that the total number of dwellings approved in Australia fell 3.4% to 16,710 in April from 17,307 in the previous month, according to final figures released by the Australian Bureau of Statistics.The ANZ-Roy Morgan Australian consumer confidence rose 2 points to 70.8 in the week of June 1 to June 7, ANZ reported. The four-week moving average rose 1.7 points to 68 points. Consumer sentiment improved broadly last week, with gains in financial conditions and medium-term confidence hitting their strongest levels since late February.In company news, Steadfast Group (ASX:SDF) said it received a conditional, non-binding, and indicative offer from Amwins Group and Dragoneer Investment Group to acquire the company by way of a scheme of arrangement at AU$6 per share in cash, representing an enterprise value of about AU$7.7 billion.Northern Star Resources (ASX:NST) Chairman Michael Chaney said that processing plant construction at Fimiston in Western Australia is nearing completion, on time and with a modest cost overrun. Chaney acknowledged that the firm's share price performance in the year had not met expectations and recognised shareholders' concerns.Lastly, Wesfarmers (ASX:WES) said it is partnering with artificial intelligence organizations to drive long-term sales and earnings growth. The company said it will use AI for agentic and conversational commerce and AI assistants for team members and supply chain optimization, among other applications.

Northern Star Resources Chairman Says Western Australia Processing Plant Construction Nears Completion

Northern Star Resources (ASX:NST) Chairman Michael Chaney said that processing plant construction at Fimiston in Western Australia is nearing completion, on time and with a modest cost overrun, according to a Wednesday Australian bourse filing.Its Hemi project in the Pilbara region of Western Australia is proceeding through the time-consuming approvals stages.Chaney acknowledged that the firm's share price performance in the year had not met expectations and recognised shareholders' concerns. The firm is in the process of recruiting a new managing director and Chief Executive following the announced resignation of Stu Tonkin. The firm is also seeking to add at least one more director with "deep gold experience."Regarding Elliott Investment Management's suggestion that the Northern Star board should run a sale process for the firm, the board does not consider "that this is the right time to do so," Chaney said.Over the previous year, it was approached by several firms about considering various corporate combinations, but the talks did not proceed because "they were not in shareholders' best interests," he added.Its shares fell 2% in recent trading on Wednesday.

Northern Star Resources' 2026 Mineral Resource, Ore Estimates Update Sends 'Mixed' Signals Over Portfolio Quality, Says Jarden

Northern Star Resources' (ASX:NST) most recent mineral resources and ore reserves update sent mixed signals regarding the quality of its asset portfolio, according to a Wednesday Jarden note.The company said on Wednesday its estimated mineral resources increased 26% to 88.9 million ounces as of March 31, while its estimated ore reserves jumped 27% to 28.4 million ounces.The initial resource estimate for the Hemi project was 254 million tonnes at 1.4 grams per tonne grade of gold for 11 million gold ounces, excluding regional deposits, compared to the final estimate published by De Grey Mining in November 2024 of 264 million tonnes at 1.3 g/t gold for 11.2 million ounces, Jarden noted.Jarden said that although the resource is slightly smaller, the updated estimate is viewed as being of higher quality, driven by changed resource estimation methodology, increased mining dilution assumptions, and updated cost estimates.The research firm believes that the decline in ore reserves, despite a higher gold price environment, is a "poor outcome."Jarden maintained its underweight rating on Northern Star Resources and decreased its price target to AU$21.60 from AU$22.30.

ASX Preview: Australian Shares Set to Rise as Oil Advances, Gold Falls on Strong US Labor Data; Northern Star Resources Increases Estimated Mineral Resources, Ore Reserves

Australian shares are poised to rise on Wednesday, tracking higher oil prices after crude climbed to a one-week high amid volatile trading as markets weighed uncertain Iran-US negotiations and ongoing tensions around the Strait of Hormuz.Market sentiment was also influenced by a softer gold price as stronger-than-expected US labor data reinforced expectations that the Federal Reserve will keep interest rates elevated for longer.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.1%, 0.03%, and 0.5%, respectively.In the macroeconomy, the Australian national accounts report is due at 11:30 am Sydney time.In corporate news, Northern Star Resources (ASX:NST) said its estimated mineral resources increased 26% to 88.9 million ounces as of March 31, while its estimated ore reserves jumped 27% to 28.4 million ounces.Ampol's (ASX:ALD) proposed acquisition of fuel and convenience retailer EG Australia received approval from the Australian Competition and Consumer Commission.Australia's benchmark index edged down 5 points to close at 8,724.40 on Tuesday.

Northern Star Resources Increases Estimated Mineral Resources, Ore Reserves

Northern Star Resources (ASX:NST) said its estimated mineral resources increased 26% to 88.9 million ounces as of March 31, while its estimated ore reserves jumped 27% to 28.4 million ounces, according to a Wednesday filing with the Australian bourse.The company is focused on its Kalgoorlie Consolidated Gold Mines operations in Western Australia, Pogo mine in Alaska, and Hemi gold project in Western Australia to support a long-term, low-cost growth pathway.The estimates include, for the first time, Northern Star's mineral resources and ore reserves for the Hemi project, which it acquired in May 2025.

Update: Northern Star Resources Should Launch Strategic Review, Explore Sale, Activist Investor Elliott Says; Shares Up 13%

(Updates with a Northern Star Resources statement in the sixth paragraph, and the stock move in the headline and last paragraph.)Northern Star Resources (ASX:NST) should conduct a strategic review that includes a potential sale, alongside a search for a new CEO, to identify opportunities for operational improvements, shareholder Elliott Investment Management said Monday.Elliott disclosed a stake of over AU$1 billion in Northern Star Resources, saying it wants to work with the company to maximize shareholder value."Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action," Elliott said, adding that the company has underperformed its potential despite holding world-class gold assets.The activist investor also urged the company to supplement its board with "fresh perspectives" to help guide the review and subsequent steps.Elliott further alleged that Northern Star has "deeply inadequate disclosures compared to global senior peers." The company is likely to draw "significant strategic interest" if it explores a sale, Elliott said.In a response, Northern Star Resources welcomed the opportunity for dialogue with the investor, saying it shares Elliott's view on the company having the required portfolio to deliver superior returns. The search for a new managing director is well underway and the company remains focused on meeting its full-year guidance, Northern Star said.The company's shares rose around 13% in recent Tuesday trade.

Update: Northern Star Resources Should Launch Strategic Review, Explore Sale, Activist Investor Elliott Says; Shares Up 9%

(Updates to add stock movement in the headline and last paragraph)Northern Star Resources (ASX:NST) should conduct a strategic review that includes a potential sale, alongside a search for a new CEO, to identify opportunities for operational improvements, shareholder Elliott Investment Management said Monday.Elliott disclosed a stake of over AU$1 billion in Northern Star Resources, saying it wants to work with the company to maximize shareholder value."Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action," Elliott said, adding that the company has underperformed its potential despite holding world-class gold assets.The activist investor also urged the company to supplement its board with "fresh perspectives" to help guide the review and subsequent steps.Elliott further alleged that Northern Star has "deeply inadequate disclosures compared to global senior peers." The company is likely to draw "significant strategic interest" if it explores a sale, Elliott said.Northern Star Resources did not immediately reply to a request for comment from.The company's shares rose around 9% in recent Tuesday trade.

Northern Star Resources Should Launch Strategic Review, Explore Sale, Activist Investor Elliott Says

Northern Star Resources (ASX:NST) should conduct a strategic review that includes a potential sale, alongside a search for a new CEO, to identify opportunities for operational improvements, shareholder Elliott Investment Management said Monday.Elliott disclosed a stake of over AU$1 billion in Northern Star Resources, saying it wants to work with the company to maximize shareholder value."Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action," Elliott said, adding that the company has underperformed its potential despite holding world-class gold assets.The activist investor also urged the company to supplement its board with "fresh perspectives" to help guide the review and subsequent steps.Elliott further alleged that Northern Star has "deeply inadequate disclosures compared to global senior peers." The company is likely to draw "significant strategic interest" if it explores a sale, Elliott said.Northern Star Resources did not immediately reply to a request for comment from.

Newmont, Evolution Mining, Northern Star Resources Fall as Gold Hits Two-Month Low

Major gold mining stocks declined in recent Thursday trade as the price of the precious metal fell to a two-month low.Newmont (ASX:NEM) shed more than 6%, while Evolution Mining (ASX:EVN) and Northern Star Resources (ASX:NST) both tumbled past 5%.The spot gold price was down 1.6% to $4,383.35 per ounce, while Comex gold futures retreated around 1.5%.

Northern Star Resources Withdraws from Earn-In Deal With Novo Resources

Northern Star Resources (ASX:NST) withdrew from the earn-in under the Egina earn-in and joint venture agreement with Novo Resources (ASX:NVO), according to the latter's statement released on Wednesday.Data collected from Northern Star's exploration will be kept by Novo Resources, which plans to continue exploration on the Egina tenements in Western Australia, the statement said.

Newmont, Evolution Mining, Northern Star Resources Shares Fall as Gold Price Declines

Major gold mining stocks fell in recent Tuesday trade after the price of the precious metal declined amid US strikes in the Strait of Hormuz that cast doubt on the outcome of Middle East peace talks.Newmont (ASX:NEM) shed nearly 3%, while Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) both fell nearly 2%.Spot gold prices were down 0.8% on worries that the US strikes could jeopardize peace negotiations, Bloomberg reported. US forces targeted missile launch sites in Iran as well as boats that were attempting to lay mines in the Strait of Hormuz, the report said, citing a US Central Command statement.

Australian Mining Stocks Rally as Gold Price Ticks Higher

Australian gold mining stocks jumped in recent Monday trade as the price of the precious metal ticked higher.Northern Star Resources (ASX:NST) and Newmont (ASX:NEM) both advanced nearly 5%, while Evolution Mining (ASX:EVN) gained more than 4%.Comex gold futures were up nearly 1%, and spot gold prices rose past 1%.

Australian Gold Producers Flush With Free Cash Flow, Says Euroz Hartleys

Australian gold producers generated record free cash flows in the March quarter despite higher capital spending on growth projects, Euroz Hartleys said in a note on Wednesday.Cash flows were helped by higher prices, with gold averaging roughly at AU$6,998 per ounce, even as production remained largely flat.According to the investment firm, around 21 companies collectively generated free cash flow of about AU$2.7 billion, up from AU$1.53 billion in the December quarter."We believe it is important to keep one eye on the real total costs of production, otherwise you risk buying a producer with more leverage than you bargained for," analysts at the brokerage said.The firm added that concerns related to diesel supply are largely a pricing issue rather than a shortage and are already reflected in valuations.Euroz Hartleys said West African Resources (ASX:WAF) was the cheapest gold stock on a cashflow yield basis, while Greatland Resources (ASX:GGP) was the lowest-cost producer.

Newmont Shares Soar Despite Decline in Gold Prices Recover Losses

Newmont's (ASX:NEM) shares soared over 6% in recent trading on Monday, while those of Evolution Mining (ASX:EVN) gained over 1%, as gold prices recovered losses.Spot gold recovered to $4,707.75 per ounce, ​after falling 0.8% earlier in the session. The precious metal declined 2.5% in the previous week.Shares of Northern Star Resources (ASX:NST) were almost flat.

Jarden Adjusts Northern Star Resources' Price Target to AU$22.30 from AU$22.50, Keeps at Underweight

Northern Star Resources Reports 'Mixed' Result in March Quarter, Jarden Research Says

Northern Star Resources (ASX:NST) reported a "mixed" March quarter result, with operating metrics generally better than feared after the numerous guidance downgrades through the quarter, Jarden Research said in a Thursday note.The company produced 387,000 ounces of gold and sold 381,000 ounces at an all-in sustaining cost of AU$2,709 per ounce.However, financial outcomes were impacted by a poor gold price realization of AU$5,283 per ounce, about 24% below the prevailing average of AU$6,995 per ounce and 8% below Jarden estimates.The company's revenue of AU$2 billion subsequently came in at around 11% below consensus, but 5% above Jarden estimates.Jarden Research maintained its underweight rating on Northern Star Resources and lowered its price target to AU$22.30 from AU$22.50.Northern Star Resources shares fell 3% in afternoon trade on Friday.

Jarden Adjusts Northern Star Resources' Price Target to AU$22.30 from AU$22.50, Keeps at Underweight

Northern Star Resources (ASX:NST) has an average rating of overweight and mean price target of AU$28.53, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)