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Investor Reaction to Northern Star's Report

Investor Reaction to Northern Star's Report

投資者對北極星報告的反應
sharecafe ·  04/23 01:23

Sometimes, some investors are not bright, and others do not really read what companies put out to the ASX.

有時,一些投資者並不聰明,而另一些投資者則不真正了解公司向澳大利亞證券交易所的投入。

Take Northern Star Resources (ASX:NST), which yesterday issued its March quarterly report, and the shares sold off because it supposedly 'missed' forecasts.

以北極星資源(澳大利亞證券交易所股票代碼:NST)爲例,該公司昨天發佈了3月份的季度報告,該股被拋售是因爲據稱 “未達到” 預期。

The company revealed that it sold just over 401,000 ounces in the three months to March 31, while the market was expecting 424,000.

該公司透露,在截至3月31日的三個月中,其銷量略高於40.1萬盎司,而市場預期爲42.4萬盎司。

Additionally, the company saw a rise in costs for the quarter, which boosted the key All-In Sustaining Cost per ounce (AISC) for the year to June 30. That's because the big wet restricted tonnages processed, so costs rose.

此外,該公司本季度的成本有所上升,這提高了截至6月30日的年度關鍵的每盎司全額維持成本(AISC)。這是因爲大型溼法限制了加工的噸位,因此成本上升了。

Standard stuff; the shares fell 5%, much of which was related to the 3% slump in gold prices overnight.

標準股價下跌了5%,其中大部分與隔夜金價下跌3%有關。

But there were some investors who seemed concerned about the 'miss', except it wasn't new news—Northern Star revealed the sales figure and the rise in costs in an early update on April 11, as well as the reason for the higher costs.

但是,有些投資者似乎對這次 “失誤” 感到擔憂,只是這不是什麼新消息——北極星在4月11日的早期更新中透露了銷售數字和成本上漲以及成本上漲的原因。

"Gold sold for the March quarter totaled 401 koz, impacted by significant weather events across the Northern Goldfields," the company said in the one-page release.

該公司在一頁新聞稿中表示:“受北方金礦重大天氣事件的影響,3月份季度的黃金總售量爲401koz。”

"With these disruptions behind us, the June quarter has started with strong operational momentum, including at the Kalgoorlie Production Centre with increased access to high-grade Golden Pike North material, early access to first ore at Wonder underground in the Yandal Production Centre, and grade improvements at Pogo Production Centre.

“隨着這些中斷的過去,6月的季度開始時運營勢頭強勁,包括卡爾古利生產中心增加了獲得高品位金派克北方原料的機會,在揚達爾生產中心Wonder地下提前獲得第一批礦石,以及Pogo生產中心的品位提高。

"At 31 March, Northern Star remains in a strong financial position with net cash of A$174 million. Cash and bullion totaled A$1,076 million (vs December quarter: A$1,089 million) after the payment of the FY24 interim dividend of A$169 million.

“截至3月31日,北極星保持強勁的財務狀況,淨現金爲1.74億澳元。在支付了1.69億澳元的24財年中期股息後,現金和金銀總額爲10.76億澳元(與去年同期相比:10.89億澳元)。

"Northern Star remains on track to deliver its FY24 Group gold sold guidance of 1.60-1.75 Moz (9 months to date: 1.18 Moz) based on positive momentum leading into an expected strong June quarter, driven predominantly by increased grade and mill utilization rates.

“Northern Star仍有望實現其24財年集團黃金賣出指引爲1.60-1.75 Moz(迄今9個月:1.18 Moz),這是基於預期的6月季度強勁勢頭,這主要是由品位和工廠利用率提高所推動的。

"The events during the quarter have led the Company to revise its FY24 AISC guidance to A$1,810-1,860/oz, up from A$1,730-1,790/oz. Cost pressures remain prevalent across our sector as well as costs linked to the buoyant gold price.

“本季度發生的事件導致公司將其24財年AISC指引從每盎司1,730-1,790澳元上調至每盎司1,810-1,860澳元。成本壓力仍然普遍存在於我們行業中,與金價上漲相關的成本也很高。

"Northern Star maintains its FY24 growth capital guidance of A$1,150-1,250 million and exploration budget of A$150 million," the main part of the statement ended.

聲明的主要部分最後說:“北極星維持其24財年增長資本預期爲11.5億澳元至12.5億澳元,勘探預算爲1.5億澳元。”

That is what the company repeated in Tuesday's release. The company, like many of the groups operating across the goldfields, was hit on one, two, or even three occasions by the wet weather events in the quarter—that's stuff media and analysts failed to follow up to any degree.

這就是該公司在週二的新聞稿中重申的內容。與許多在金礦區開展業務的集團一樣,該公司在本季度曾一次、兩次甚至三次受到潮溼天氣事件的衝擊,而媒體和分析師在任何程度上都沒有對此採取後續行動。

The extra information in Tuesday's release was the sale price for those near 401,000 ounces. Northern Star said it realized an average gold price of A$3,024 per ounce, leading to sales revenue of A$1.212 billion and free cash flow of A$143 million. The latter was up from A$102 million in the second quarter.

週二發佈的額外信息是接近40.1萬盎司的售價。北極星表示,其平均黃金價格爲每盎司3024澳元,銷售收入爲12.12億澳元,自由現金流爲1.43億澳元。後者高於第二季度的1.02億澳元。

Interestingly, the AISC pressures were broken down into the company's three main production areas - The Super Pit and surrounds near Kalgoorlie, the Yandal mines, and the Pogo mine in Alaska - costs were higher at the latter but not at the Super Pit where Northern Star is spending heavily to expand production to more than a million ounces a year.

有趣的是,AISC的壓力被分解到該公司的三個主要產區——超級礦坑和卡爾古利附近的周邊、揚達爾礦山和阿拉斯加的波戈礦——後者的成本較高,但超級礦的成本卻不高,北極之星正在投入大量資金將產量擴大到每年超過一百萬盎司。

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声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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