Australia's Northern Star falls on dispute with joint venture partners

Rand Mining

23/12/2019 01:42

** Gold miner Northern Star Resources Ltd  NST.AX  falls as
much as 3.5% to A$10.33, marking its biggest intraday pct loss
since Dec. 13
    ** Says http://pdf.reuters.com/asxnews/asxnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20191222_nASX7FQv6h
 Tribune Resources Ltd  TBR.AX  and Rand Mining Ltd  RND.AX 
filed http://pdf.reuters.com/asxnews/asxnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20191222_nASX3Hdtnp
 a lawsuit against certain units of co due to alleged http://pdf.reuters.com/asxnews/asxnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20191222_nASX3JzXhT
 breaches of an agreement for the East Kundana Joint Venture in
Western Australia
    ** Northern Star Resources owns a 49% stake in the project,
while Tribune Resources and Rand Mining hold a 36.8% and 12.3%
interest, respectively      
    ** Northern Star says it will defend the proceedings and
does not intend to make any further comments on the issue 
    ** Stock up 15.8% this year, as of last close
    ** Wider gold stocks index  .AXGD  slips 2.2% on profit
taking after recent run of gains
    ** Shares of Tribune Resources down 2.8%
       

 ((aditya.srivastsav@thomsonreuters.com))