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Highlights:
- Record Gold Production: Karlawinda Gold Project delivered 28,702 ounces of gold in the December quarter, leading to a half-year total of 54,261 ounces.
- Strong Cost Performance: All-in-sustaining cost (AISC) remains aligned with FY25 guidance of $1,370 to $1,470 per ounce.
- Advancements at Bibra Deposit: Pre-stripping works in the Southern Corridor and consistent recovery rates of 92% support robust production for FY25.
Capricorn Metals Limited (ASX:CMM) has achieved record-breaking gold production during the December quarter at its Karlawinda Gold Project in Western Australia. The project yielded 28,702 ounces of gold for the quarter, bringing the total half-year production to 54,261 ounces. These results position the company well within the range of its FY25 guidance of 110,000 to 120,000 ounces.
Production Insights and Strategic Focus
The Karlawinda Gold Project is a cornerstone of Capricorn's operations, delivering steady production growth. The December quarter's record output underscores the effectiveness of operational strategies and sets a solid foundation for achieving fiscal year targets. Mining activity during the quarter focused on material movement from the Bibra open pit, ensuring the pit face positions remained within budget by the end of the period.
Mining at Bibra is anticipated to see stronger performance during the second half of FY25, reflecting a well-executed approach to sustaining output levels.
Cost Management and AISC Performance
Capricorn has demonstrated effective cost management, with all-in-sustaining costs (AISC) aligning with FY25 guidance between $1,370 and $1,470 per ounce. The company's ability to operate within this range underscores its efficiency in maintaining profitability amid fluctuating market conditions.
Expansion and Recovery Rates
The Southern Corridor extension of the Bibra deposit saw significant developments during the December quarter, with pre-stripping works initiated. This expansion is expected to contribute to enhanced production metrics in upcoming quarters. Additionally, gold recovery rates have remained consistent at 92%, reflecting strong operational efficiency and adherence to budgeted recovery benchmarks.
Future Outlook
The combination of record production, strategic pit management, and cost discipline positions Capricorn Metals well for the remainder of FY25. As mining activities ramp up in the Southern Corridor and production efficiencies continue to improve, the company is on track to deliver sustained value from its Karlawinda Gold Project.
Capricorn Metals' operational and financial progress during the December quarter highlights its commitment to achieving robust production targets while maintaining disciplined cost management, paving the way for continued success in the gold mining sector.
