Australian Gold Miner Northern Star Sinks as Output Guidance Cut

Northern Star Resources Ltd. sank the most in six years after the gold miner cut output guidance due to problems at a processing mill.

Shares in Australia’s largest primary-listed gold producer lost as much as 17% in Sydney, the most since March 2020. After reducing guidance in early January to 1.6 million to 1.7 million ounces for the year to June, the company said on Friday it would struggle to reach the lower end of that range.