Bill Beament's bold move to consolidate the gold mining assets of international majors keen to exit the State has put Northern Star Resources on the brink of the State's billion-dollar club.
At Friday's share price close of $1.62, Northern Star was capitalised at $951 million, according to Bloomberg data.
Northern Star last week came within a whisker of the $1.71 trading price needed to break the billion-dollar barrier. It came courtesy of a bullish production update which helped warm investors to the company's aggressive acquisition strategy and dampened any suggestion Mr Beament's management team would struggle to digest its quick-fire acquisition of four new projects in the past eight months.
Before buying Barrick Gold's Plutonic mine late last year, Northern Star was producing about 100,000 ounces of gold a year. After picking up Plutonic, Kundana and Kanowna Belle from Barrick, at bargain-basement prices, and then Jundee from Newmont Mining for $82.5 million, Northern Star is now targeting production of 600,000oz a year.
It is now the biggest home-grown gold miner on the sharemarket by capitalisation, sitting third on the ASX all ordinaries gold index behind Newcrest Mining and OceanaGold, having nudged past one-time market darling Regis Resources earlier in the week.
There are never any guarantees on the market, however - only a month ago Maurice Brand's Liquefied Natural Gas was celebrating its entry into the exclusive club, only to fall back in following weeks.