Capricorn Metals has provided a preliminary production update for September 2025 on its findings at the Karlawinda Gold Project, which has yielded “strong” results and a record 32,318 ounces of gold. The company ended the quarter with $394.4 million in cash and gold.
This meets the expectations laid out in Capricorn Metals’ 2025–26 financial year (FY26) mine plan, which detailed the ongoing opportunities at the site. The project is on track to achieve FY26 guidance of 115,000–125,000 ounces of gold at an all-in sustaining cost (AISC) of $1530–1630 per ounce.
“We are pleased to have maintained our high-quality group ore reserves at four million ounces of gold after another strong year of gold production,” Capricorn executive chairman Mark Clark said.
“Major updates to ore reserves are due at both Mount Gibson and Karlawinda in the next six months as aggressive drill programs deliver continued growth in resources and reserves.
“The exciting maiden underground resource at Mount Gibson is currently the subject of a scoping study designed to frame the potential of the underground project and start the full study workflows to deliver a maiden underground reserve later in the financial year.”
“This will further add to the quality and longevity of Mount Gibson, a project which is clearly one of the most compelling development opportunities in the Australian mid-tier gold sector.”
Capricorn Metals’ cash increased by $71.8 million during the quarter, before capital expenditures of $33.7 million, $30.4 million of which was allocated to construction at the Karlawinda Expansion Project.
Full operational and cost details are expected to be provided in the quarterly report, which is scheduled for release later in October.
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