Northern Star Disclosure Under Fire: Why Investor Confidence Took a Hit

The sharp sell-off in Northern Star Resources this week had little to do with the gold price and far more to do with confidence.

Shares in Australia's largest locally listed gold producer fell more than 8 per cent in a single session, wiping over $3 billion from its market value, after a tense investor call exposed growing frustration around disclosure, execution, and communication. For a company riding record gold prices and sitting near all-time highs, the reaction was telling.

At the centre of the storm was managing director Stuart Tonkin, who pushed ack against analyst criticism that. . .