Capricorn Metals has delivered another steady quarter of production at the Karlawinda gold project (KGP), producing 25,559 ounces of gold for the September quarter.
Capricorn’s results are in line with its mine plan for the 2025 financial year (FY25), keeping the company on track to achieve its full-year guidance of 110,000–120,000 ounces at an all-in sustaining cost (AISC) of $1370–1470 per ounce.
Gold production for the quarter was reflected in a 17 per cent increase in total material movement at the Bibra open pit, as Capricorn continues to progress toward planned pit face positions.
The increased movement, compared to the June quarter, sets a solid foundation for Capricorn for the rest of FY25.
“The company has begun realising these benefits in the form of greater productivities and working areas available,” Capricorn said.
The recent commissioning of liquid oxygen and lead nitrate facilities at the plant also contributed to stabilised gold recovery rates, which reached 91.9 per cent, consistent with budgeted expectations.
Capricorn reported cash and gold on hand of $144.6 million at the end of the September 2024 quarter, a increase from $125 million at the end of June.
The company built $24.1 million in cash during the quarter, ahead of discretionary capital expenditures for its Mt Gibson gold project (MGGP).
Development at MGGP is progressing, with $4.5 million spent during the quarter, mostly on the installation of a 400-room accommodation village.
All buildings for the camp are now in place, with construction set for completion by the end of 2024.
“Tender responses were received during the quarter for mining services, power supply, and process plant design contracts,” the company said.
Final evaluations are underway, with awards for these contracts expected in the December quarter.
Further updates on Capricorn’s progress at both KGP and MGGP, along with full operational and cost details, will be provided in the company’s quarterly report, due later in October.
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