Capricorn Metals (ASX:CMM) has recorded another ‘excellent’ quarter of operations after producing 30,399 ounces of gold from its Karlawinda Gold Project (KGP) in Western Australia.
The $1.64 billion market capitalisation company says production for the half year sits at 60,099 ounces and puts Capricorn on track to achieve the mid-point of FY24 guidance of 115,000 to 125,000 ounces.
All-in sustaining costs (AISCs) are expected to be within the FY24 cost guidance range of $1,270 to $1,370 per ounce.
According to Capricorn, its cash and gold on hand at the end of December 2023 was $160.1 million, an increase of $26.5 million from the prior quarter ($23.3 million).
The company notes the cash build of $26.5 million was achieved after the payment of $1.7 million for accommodation units at the Mt Gibson Gold Project.
Meanwhile, Capricorn has committed to the purchase of 400 accommodation units for the project after obtaining regulatory approval to construct a new camp for the proposed mining operations.
The first units have reportedly arrived on site with installation expected to begin in February this year.
Capricorn Metals is a gold producer headquartered in Perth, Western Australia which operates within 2 distinct project areas within the state — the Karlawinda and Mt Gibson gold projects.
Write to Adam Drought at Mining.com.au
Images: Capricorn Metals
