Northern Star Resources (ASX:NST) has completed its share buy-back program launched in 2022, returning $300 million to shareholders.
The gold producer, which has a market capitalisation of $25.81 billion, bought back 27.17 million shares at an average price of $11.04 per share.
Northern Star’s share price closed Monday (19 May) up 1.89% at $18.88.
Managing Director Stuart Tonkin says the average buy-back price demonstrates the company’s “disciplined approach to value creation” for shareholders.
Earlier in May, Northern Star completed the $5 billion all-scrip takeover of De Grey Mining (ASX:DEG).
Northern Star expects to produce 1.63 million to 1.66 million ounces of gold in the 2025 financial year at a cost of $2,100 to $2,200 an ounce.
This is lower output and higher cost than the previously estimated 1.65 million to 1.8 million ounces at a cost of between $1,850 and $2,100 an ounce which Northern Star attributes to higher maintenance costs across its Yandal operation and higher royalties from elevated gold prices.
Gold was selling for over US$3,220 ($5,023) an ounce on Monday.
Write to Angela East at Mining.com.au
Images: Northern Star Resources
