MENU

Northern Star Resources Ltd (ASX:NST) shares down after Pogo-related bounce

Northern Star Resources Ltd (ASX: NST) returned to trade on September 3 after a trading halt prior to the completion of its $175 million placement to institutional investors to fund its Pogo acquisition.

But after a 17% share price surge on Pogo news, Northern Star is in the red today, down 3.4% to $8.03 at the time of writing.

Northern Star is no doubt hoping the Alaskan Pogo purchase will prove a success, possibly similar to the Western Australian Jundee venture it acquired in 2014, which has been lucrative.

In other news, Northern Star and Coolgardie Minerals Limited (ASX: CM1) announced an ore sale agreement for the sale of the first 100,000 tonnes of oxide ore produced from Coolgardie’s Geko Gold Mine today.

But Northern Star is not the only gold producer on the decline, with Evolution Mining Ltd (ASX: EVN) shares down 3.7% to $2.73 at the time of writing, Saracen Mineral Holdings Limited (ASX: SAR) down 2.3% to $1.78 and OceanaGold Corp (ASX: OGC) down 1.7% to $3.92.

Breaking news: ASX companies set to raise dividends!

It's been a nail-biter of a reporting season here in the first half of 2018.

But the real action, in my opinion, is what companies are doing with dividends.

What does this mean for you? Well there is one stock I've found that could very well turn out to be THE best buy of 2018. And while there's no such thing as a 'sure thing' when it comes to investing - this ripper might come as close as I've ever seen.

Click here it's FREE!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!