Capricorn Metals hits guidance on higher June quarter output
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The news: Gold producer Capricorn Metals has reported improved production at its Karlawindi gold project in Western Australia, helping it achieve full-year guidance.
The numbers: The company recorded gold production of 26,835 ounces in the three months to June — a slight improvement on the rain-hit March quarter of 26,000 ounces. This took full year production to 113,007 ounces, within the revised annual guidance range of 112,000 ounces to 115,000 ounces.
However, all-in sustaining cost was higher at $1,548 per ounce, taking full-year all-in sustaining costs (AISC) above the top end of annual cost guidance range.
The context: Capricorn expects FY25 to be consistent with FY24, and outlined full-year gold production guidance of 110,000 to 120,000 ounces at an AISC range of $1,370 to $1,470 per ounce.
It expected production to be skewed towards the second half of FY25, and planned for growth capital expenditure of $10 million to $20 million for the year.
The company said it is also making significant progress at its under-development Mt Gibson gold project with continued exploration and resource extension drilling.
The source: ASX announcement
