Northern Star Resources (ASX: NST) continues to move the Paulsens Gold Mine in Western Australia forward quickly, with the company taking full financial ownership of the project a little over a year ago in June 2010.
Since then Northern Star has hit the 100,000 gold ounce poured milestone, and considering spot gold has averaged over US$1400 an ounce for the period - the gross cash flows equate to an impressive US$140 million.
Adding a bit more spice to the Paulsens equation is that 8,650 gold ounces were poured in July (providing an annualised rate of 104,000 ounces), placing the company on-track to exceed calendar 2011 forecasts of $40 million in surplus cash and 75,000 gold ounces produced.
Northern Star has now allocated a $12.5 million exploration budget for financial year 2012, with part of this money to be spent targeting a full repetition of Paulsens, where 450,000 gold ounces have been mined to date.
The company is also eyeing a resource upgrade towards the end of 2011, which will incorporate recent significant drilling results.
Highlighting the operational success at the project, the current safety record stands at 400 days without a lost time injury.