Northern Star Resources

Northern Star reviewed and rejected a combined cash-and-share proposal from Gold Fields worth 38.7 billion AUD (about €23.9 billion). The board described the offer as "highly opportunistic" and undervalued, especially as it arrived shortly before the start-up of a new project and before CEO Suresh Vadnagra took office. Activist Elliott is pushing for asset sales and a board refresh, but Northern Star does not want to continue talks. The share price rose by up to 11% at one point, approaching the price implied by the offer. » Mere på handelsblatt.com

Northern Star posted adjusted EBITDA of AUD 4.3bn (+22%) and adjusted earnings per share of AUD 1.24 (+5%) for fiscal year 2026, with adjusted free cash flow of AUD 190m. The KCGM mill expansion is in commissioning and remains on schedule; the company is exiting the high-investment phase and is focusing on operational delivery and value realization. For 2027 Northern Star expects production of 1.5–1.65m ounces, group AISC of AUD 3,050–3,450/oz and total capital expenditure of AUD 2.6–2.9bn. » Mere på de.investing.com

Elliott Investment Management, with about a 5.6% stake in Northern Star, has nominated six independent candidates for the board after talks on board changes failed. The activist is calling for a much stronger board and a comprehensive strategic and operational review to address the company’s underperformance relative to peers. Among the proposed candidates is Mark Cutifani; Elliott stresses it does not seek control of the board and prefers to reach a settlement with management. The stock rose as much as about 2.1% intraday but is down roughly 14% year-to-date. » Mere på de.investing.com

Northern Star presented at the Diggers & Dealers Forum the redesign of the Kalgoorlie‑Boulder plant (KCGM) featuring a new 27 million t/year processing hub intended to cut processing costs by 50% versus the steady FY2026 level. The design relies on fewer operating units, larger machines, increased automation and gravity‑based material flow, as well as consolidation of legacy facilities. Energy plans envisage about 256 MW of wind/solar/battery storage, with roughly 80% of demand to be met by renewables; a Parkeston joint venture is planned to address grid outages. Key risks remain final commissioning and the actual delivery of the announced cost savings. » Mere på de.investing.com

Northern Star Resources' shares rose 3.3% to A$19.425 after the announcement of a comprehensive leadership change and strong production figures. Suresh Vadnagra will become CEO on 5 October 2026, replacing Stuart Tonkin. In the June quarter 433,000 ounces of gold were sold; fiscal 2026 reached 1.54 million ounces and is close to the revised guidance. Cash and gold bullion amounted to A$1.26 billion, with no corporate bank debt. During the quarter, A$129 million of securities were bought under the A$500 million buyback program, while the gold price continues to weigh on the stock. » Mere på de.investing.com