Capricorn Metals Limited Reports Steady Quarterly Production at Karlawinda Gold Project

Strategic Insights -

Capricorn Metals Limited is pleased to provide a preliminary update on the quarterly production at the Karlawinda Gold Project (KGP) in Sydney, Australia. The KGP delivered a steady quarter of operations, producing 25,559 ounces of gold, in line with expectations as per the FY25 mine plan. The operation is on track to achieve FY25 guidance of 110,000 - 120,000 ounces at an All-In Sustaining Cost (AISC) of $1,370 - $1,470 per ounce. The company has made significant progress in increasing total material movement from the Bibra open pit, delivering a 17% increase in material movement compared to the previous quarter.

Key Takeaways:

  • The Karlawinda Gold Project produced 25,559 ounces of gold in the quarter, in line with expectations.
  • The operation is on track to achieve FY25 guidance of 110,000 - 120,000 ounces at an AISC of $1,370 - $1,470 per ounce.
  • Gold production for the quarter reflected the focus on increasing total material movement from the Bibra open pit, delivering a 17% increase in material movement compared to the previous quarter.
  • The company has begun realizing the benefits of increased material movement, with greater productivities and working areas available.
  • Gold recovery rates have stabilized in the plant at the budgeted rate of 91.9% in the quarter.
  • The company has spent $4.5 million on development activities at the Mt Gibson Gold Project (MGGP) in the quarter, with a focus on installing the 400-room accommodation village for operations.
  • Development activities at MGGP continued to be advanced in the quarter, including the installation of buildings for the camp and the receipt of tender responses for critical path scopes.

Statistics:

  • 25,559 ounces of gold produced at the Karlawinda Gold Project in the quarter.
  • 17% increase in material movement from the Bibra open pit compared to the previous quarter.
  • $144.6 million in cash and gold on hand at the end of the September 2024 quarter.
  • $24.1 million cash build for the quarter, before discretionary capital expenditure at the Mt Gibson Gold Project.
  • $4.5 million spent on development activities at MGGP in the quarter.
  • $23.9 million spent to date on early construction works at MGGP.
  • $260 million MGGP capital budget.

Sources:

  • Capricorn Metals Limited, News Release (No date).