Capricorn Metals has achieved a year of solid gold production thanks to the strong performance of its Karlawinda project in Western Australia.
Gold production for the fourth quarter of the 2023–24 financial year (Q4 FY24) stood at 26,835 ounces (oz).
This brought the total annual gold production to 113,007oz, well within Capricorn’s projected target range of 112,00 –115,000oz.
The miner said the performance reflects the continued focus during the quarter on increasing material movement out of the Bibra open pit to underpin mining schedule volumes in the medium term.
This earthmoving focus is set to taper by the end of the September 2024 quarter, where Capricorn hopes it will support another strong year of operations at Karlawinda in FY25.
Gold production for the new financial year is expected to be within a guidance range of 110,000–120,000oz.
It was a big quarter for Capricorn’s prospective Mount Gibson gold project (MGGP) in WA, with the company making strides in its mission to bring the mine into production.
In April, MGGP’s ore reserve was updated to 61.6 million tonnes at 0.9 grams per tonne of gold for 1.83 million ounces.
Installation of the 400-room accommodation village to support the operation also continued and is on target to be completed next year.
Last month, Capricorn received advice from the Department of Climate Change, Energy, the Environment and Water (DCCEEW) that the referral for MGGP will be assessed as a controlled action via a public environmental report.
The DCCEEW is expected to shortly issue the guidelines for the report to be completed by Capricorn.
This will allow Capricorn to expedite final environmental work streams and complete the report for public consultation and final assessment.
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