Tonkin takes the reins at Northern Star
Northern Star Resources has appointed long-time CEO Stuart Tonkin as managing director from today (reports MiningNews).
23rd July 2021
Resources Rising Stars
As envisaged under the October 2020 merger of Northern Star and Saracen, Raleigh Finlayson will transition from MD to executive director for two months, then retire from the board.
Finlayson will take six months to spend time with his family and complete an advanced management program at Harvard University.
He will then re-join the Northern Star board on April 4, 2022, as a non-executive director.
"I'll re-join the board refreshed and re-energised with hopefully some new skills to support Stu," Finlayson said this morning.
Tonkin has been CEO of Northern Star for five years and was chief operating officer for three years before that.
"I couldn't think of a better person to lead Northern Star than Stu Tonkin, who in my opinion, is a best in class operator," Finlayson said.
Tonkin will lead the company's new strategy, which will be released after market close today.
"Stuart is perfectly placed to lead Northern Star as we seek to optimise the operational performance and financial returns of the exceptional asset base which the company has established as the result of an intense period of merger and acquisition activity," Northern Star chairman Michael Chaney said.
Ahead of the strategy release, Northern Star reported an "exceptional" June quarter of production, with gold sold of 444,012 ounces at all-in sustaining costs of A$1459 an ounce and all-in costs of $1850/oz.
Both production and costs beat consensus forecasts.
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