Capricorn Metals Q1 Production Update

Capricorn Metals Limited (ASX:CMM) has reported a steady quarterly production at the Karlawinda Gold Project (KGP), with 25,559 ounces of gold produced in line with the FY25 mine plan. The company remains on track to achieve its FY25 guidance of 110,000 - 120,000 ounces at an AISC of $1,370 - $1,470 per ounce.

Executive Commentary

The operation at Karlawinda Gold Project delivered another steady quarter of operations, with a focus on increasing total material movement from the Bibra open pit. This progress has laid a solid foundation for the remainder of FY25. Additionally, the commissioning of liquid oxygen and lead nitrate facilities has stabilized gold recovery rates at the budgeted rate of 91.9% in this quarter. Full operational and cost details will be provided in the Quarterly Report later in October 2024.

Summary and Outlook

Capricorn Metals' Q1 production update indicates a positive trajectory towards achieving its FY25 guidance. The company's focus on increasing material movement from the Bibra open pit has resulted in a 17% increase compared to the previous quarter, setting a strong foundation for the upcoming periods. The stabilization of gold recovery rates and the cash build of $24.1 million for the quarter further demonstrate the company's operational stability. With ongoing development activities at the Mt Gibson Gold Project and progress on the accommodation village installation, Capricorn Metals is strategically positioned to meet its targets. The company's commitment to providing full operational and cost details in the upcoming Quarterly Report reflects its transparency and accountability to stakeholders. Capricorn Metals' strategic decisions and progress in development activities indicate a positive outlook for its future performance, aligning with its ambitions and corporate strategy.