Capricorn Metals (ASX: $CMM) reports strong FY24 gold production

Capricorn Metals Ltd (ASX: $CMM) has reported a strong performance in the June 2024 quarter, with gold production reaching 26,835 ounces, bringing the full year production to 113,007 ounces. The company's all-in-sustaining-cost (AISC) for the full year was $1,421 per ounce, slightly above the top end of the annual cost guidance range due to weather impacts on mining activities and production in Q3 and Q4. Capricorn Metals has also provided guidance for FY25, expecting gold production to range between 110,000 and 120,000 ounces at an AISC of $1,370 - $1,470 per ounce, with a growth capital of $10 - $20 million.

Executive Commentary

The company's strong operational cashflow of $40.4 million in Q4 and $159.6 million for the full year demonstrates our robust financial performance. Despite the challenges faced in Q3 and Q4, we have maintained our position as one of the lowest cost operations in the Australian gold industry. The reduction of our gold hedge book and the senior executive appointments reflect our commitment to strategic decision-making and strengthening our management team. We are optimistic about the future and remain focused on delivering consistent operational excellence and sustainable growth.

Summary

Capricorn Metals' FY24 gold production of 113,007 ounces and AISC of $1,421 per ounce demonstrate a solid performance, despite weather impacts. The company's FY25 guidance of 110,000 - 120,000 ounces at AISC of $1,370 - $1,470 per ounce and growth capital of $10 - $20 million indicates a positive outlook. The reduction of the gold hedge book and the senior executive appointments align with the company's strategic goals. Capricorn Metals continues to make progress in the development of the Mt Gibson Gold Project, with significant achievements in exploration and resource extension drilling. The company's focus on operational excellence and sustainable growth positions it for continued success in the future.