ASX Gold Market Watch: Key Updates from NST, EVN and NEM

These shares show strong growth with higher resources, improved reserves, better production results, strong cash flow and future expansion opportunities across major mining projects.

Northern Star Resources Limited (ASX: NST)

Northern Star Resources Limited (ASX: NST), on 3 June 2026, a strong increase in its resource base for the year ended 31 March 2026. Group Mineral Resources rose to 88.9Moz, up 18.2Moz or 26% after mining depletion and Group Ore Reserves increased to 28.4Moz, up 6.1Moz or 27%. The company also added new resource ounces at an average discovery cost of less than A$23/oz.

For the first time, the Hemi Project was included under Northern Star’s reporting framework following its acquisition in May 2025. Hemi contributed 13.2Moz of Mineral Resources and 5.5Moz of Ore Reserves, strengthening the company’s future production pipeline.

KCGM and Pogo also delivered growth. KCGM touched 42.2Moz of Mineral Resources and 15.0Moz of Ore Reserves and Pogo improved to 9.3Moz and 2.4Moz respectively and providing additional long term development opportunities across the portfolio.

Evolution Mining Limited (ASX: EVN)

Evolution Mining Limited (ASX: EVN), on 1 May 2026, issued its annual Mineral Resources and Ore Reserves report as of 31 December 2025. The group's Mineral Resources totalled 31 Moz gold and 4.2 Mt copper, with gold resources going up by 0.9 Moz. Growth came from Cowal and Northparkes open pits. Group Ore Reserves rose to 12Moz of gold and 1.3Mt of copper, with gold reserves increasing by 0.5Moz from additions at Cowal and Red Lake Tailings.

Exploration activities delivered positive results, including drilling at Mungari, Cowal’s Oban area and beyond the E41 pit. These programs are expected to contribute to future Mineral Resource updates.

The Northparkes expansion study aims to improve mill throughput, assess open pit opportunities and optimise the mine-to-mill plan. Ernest Henry studies identified ore additions, maintaining operations to around 2040 with further growth potential.

Newmont Corporation (ASX: NEM)

Newmont Corporation (ASX: NEM) shared its First Quarter 2026 Results on 24 April 2026. The company produced 1.3 million attributable gold ounces along with 9 million ounces of silver and 30 thousand tonnes of copper. Gold by-product AISC was $1,029 per ounce. Newmont achieved $3.3 billion net income, $3.2 billion adjusted net income, $5.2 billion adjusted EBITDA and record free cash flow of $3.1 billion.

The company generated $3.8 billion cash from operating activities. NEM delivered $2.7 billion in shareholder returns through repurchases and dividends. It declared a $0.26 per share dividend and received about $321 million from asset related sales. Newmont ended the quarter with $8.8 billion cash, $12.8 billion liquidity and $3.2 billion net cash position.

On 10 March 2026, Ghana introduced a new sliding royalty rate and later adjusted the Growth and Sustainability Levy on 1 April 2026. Newmont expects a possible AISC impact of $25 per ounce company-wide. On 14 April 2026, the Cadia operation earthquake caused limited damage with recovery expected during the second quarter.

(Source: Company Report)