Company News Summary
Northern Star Resources Announces Surplus Cash Forecast and Maiden Dividend
Original announcement: Surplus cash forecast, resource upgrade and maiden dividend
Northern Star Resources announced that it is set to generate surplus cash of $65-85m next calendar year on the back of sharply high production and lower costs assuming a $1,550/oz gold price. The forecast compares with the $35m in surplus cash the company expects to record in 2012. The company also announced that it will pay a fully franked maiden dividend of 2.5 cents per share and has increased the JORC-compliant resource estimate at its Paulsens gold mine in WA to 2.4Mt @ 5.0g/t for 403,000oz. The increased inventory is a rise of 25% and is sufficient to underpin a mine life of at least five years at Paulsens.
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