The news: Gold miner Capricorn Metals has increased its quarterly output from its Karlawonda gold operation in Western Australia and indicates that it remains poised to meet its annual targets.
The numbers: In the three-month period ending March 31st, the firm reported gold output of 30,599 ounces, an increase from the 28,702 ounces produced during the previous quarter in December. This performance suggests they are well-positioned to meet the midpoint target for their fiscal year 2025 forecast of 110,000-120,000 ounces. Additionally, the anticipated all-in sustaining costs are projected to remain within the specified range of $1,370 to $1,470 per ounce.
The context: Capricorn attributes the enhanced productivity to an ongoing emphasis on managing the complete material flow from the Bibra open-pit operation. This strategy has facilitated consistent growth in their output levels. The company remains optimistic about maintaining this strong production trajectory for the latter part of FY25.
The firm additionally invested $4.6 million in capital expenditure at its developing Mt Gibson gold project to construct a 400-person accommodation facility for operational purposes, bringing the total investment in preliminary development activities up to $34.5 million.