Northern Star's Beament gets $5.6m reward

Northern Star Resources boss Bill Beament has substantially boosted his stake in the company, through the cashless exercise of 6.5 million options in a deal worth nearly $5.6 million.

The cashless exercise of the options, priced at 10 cents each, was facilitated by the company's employee share trust. 

The trust allocated just over 5.8 million shares to Mr Beament after he exercised 6.5 million options. The remaining 663,265 shares were held as consideration.

With the gold miner's share price steady at 96.5 cents today, Mr Beament's 5.8 million new shares are worth nearly $5.6 million.

The transaction takes Mr Beament’s stake in the company to more than 20 million shares, or 4 per cent.

Northern Star has been one of the stockmarket's best performers in recent years, helped by the success of its Paulsens gold mine.