Capricorn Metals production slips in September quarter
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The news: Gold producer Capricorn Metals has posted a drop in quarterly production at its Karlawindi gold project in Western Australia, but has maintained its full-year guidance.
The numbers: The company recorded gold production of 25,559 ounces in the three months to September, a nearly 5% drop on the 26,835 ounces in the June quarter.
That still puts it on track to achieve the revised annual guidance range of 110,000 to 120,000 ounces at an all-in sustaining cost range of $1,370 to $1,470 per ounce.
The context: Capricorn said the lower output reflected the focus on increasing total material movement from the Bibra open pit to achieve the planned pit face positions for the end of quarter, with a 17% increase in material movement compared to the previous quarter.
The company says it has begun realising these benefits in the form of greater productivity and working areas available and has set up a solid foundation at Bibra for the remainder of FY25.
The company also incurred $4.5 million in capital spend at its under-development Mt Gibson gold project to install a 400-room accommodation village for operations.
The source: ASX announcement
