Capricorn Metals (ASX: CMM)
Provided a preliminary update on the quarterly production at the Karlawinda Gold Project, which delivered another strong quarter of operations, producing 30,599 ounces of gold.
This result brings year to date production to 84,860 ounces, putting Capricorn in an excellent position to achieve the mid-point of FY25 guidance of 110,000 – 120,000 ounces at a cost guidance range of $1,370 – $1,470 per ounce.
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| Capricorn Metals | ASX: CMM | |
| Stage | Production, development, exploration | |
| Metals | Gold | |
| Market cap | A$3.96 Billion @A$9.18 | |
| Location | Western Australia | |
| Website | www.capmetals.com.au |
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Capricorn Metals Production on guidance and on track
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Capricorn Metals Limited (ASX: CMM) (Capricorn or the Company) is pleased to provide a preliminary update on the quarterly production at the Karlawinda Gold Project (KGP).
KGP delivered another strong quarter of operations, producing 30,599 ounces of gold.
This result brings year to date production to 84,860 ounces, putting Capricorn in an excellent position to achieve the mid-point of FY25 guidance of 110,000 – 120,000 ounces.
AISC is also expected to be within the FY25 cost guidance range of $1,370 – $1,470 per ounce.
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Gold production for the quarter was driven by a sustained emphasis on total material
movement from the Bibra open pit, allowing the budgeted pit face positions to be met for the fourth consecutive quarter. This effort has delivered the steady increase in gold production quarter on quarter, aligning with expectations for a robust second half of FY25.
Pleasingly, the efficient mining performance in the main pit enabled the expediting of pre-stripping operations ahead of schedule at the Southern Corridor extension, further mitigating risks associated with the transition to the expanded project.
Full operational and cost details will be provided in the Quarterly Report later in April 2025.
The Company’s cash and gold on hand at the end of the March 2025 quarter was
$404.6 million (Dec24: $363.1m). This represents a cash build of $57.6 million for the quarter (Dec24: $31.2m) before total capital expenditure of $16.1 million at the Mt Gibson Gold Project.
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To read the full news release please click HERE
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The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Capricorn Metals
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