Capricorn Metals has provided a preliminary update on September 2025 quarter production at its Karlawinda gold project.
The Karlawinda gold project (KGP) delivered another strong quarter of operations, producing a record 32,318 ounces of gold, in line with expectations as per the FY26 mine plan.
The company said the operation is on track to achieve FY26 guidance of between 115,000 and 125,000 ounces at an all-in sustaining cost of $1,530 to $1,630 per ounce.
Gold production for the quarter reflected the ongoing mining productivity improvement that drove the consistent quarterly increases in output throughout FY25, the company said. The mining fleet achieved the planned pit face positions and the required pre-stripping ahead of the expansion project.
Capricorn was pleased to report that mining production rates continued at the required level for the Karlawinda Expansion Project (KEP). The company said full operational and cost details will be provided in the quarterly report later in October 2025.
The company’s cash and gold on hand at the end of the September 2025 quarter was $394.4 million. The cash build for the quarter was $71.8 million before total capital expenditure of $33.7 million at the KEP and Mt Gibson Gold Project (MGGP).
Capital spend for the quarter at KEP, now fully underway with on-site construction ramped-up, totalled $30.4 million. This included engineering and design, equipment procurement, camp installation, construction mobilisation, early site works, and pre-production mining.
The capital spend on development activities at MGGP for the quarter was $3.3 million, mainly focused on ongoing detailed design and early procurement activities. The company said this early spend of part of the MGGP capital budget is a strategic decision to compress the ultimate construction timeline.
Following the approval of Karlawinda’s Mining Proposal and Mine Closure Plan, by the Western Australian Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) in July 2025, development activities at the KEP commenced and were advanced in the September 2025 quarter.
Among the main developments were the construction of the 164-room camp expansion clearing of the plant site and TSF2 site with subsequent earthworks underway. Civils, concrete, and structural, mechanical and piping contractors have been mobilised to site and major structure concrete pours are planned for mid-October.
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