Karlawinda delivers record gold production
Capricorn Metals (ASX: CMM) has announced its Karlawinda gold project, in the Pilbara region of WA, is on track for it FY26 guidance in a preliminary update on Q1 FY26 production.
The project delivered another strong quarter of operations, producing 32, 318oz of gold, on track to achieve 115,000-125,000oz at an all in sustaining cost (AISC) of $1,530-$1,630 per oz, in line with expectations outline in the FY26 mine plan.
Gold production for the quarter reflected the ongoing mining productivity improvement that drove the consistent quarterly increases in output throughout FY25.
The mining fleet achieved the planned pit face positions and the required pre-stripping ahead of the expansion project with mining production rates continuing at the required level for the Karlawinda expansion project.
The company’s cash and gold on hand at the end of the quarter was $394.4m. Capital spend for Q1 FY26 at the project totalled $30.4m and included engineering and design, equipment procurement, camp installation, construction mobilisation, early site works, and pre-production mining.
Following the WA Department of Energy, Mines, Industry Regulation and Safety’s (DEMIRS) approval of Karlawinda’s mining proposal and mine closure plan in July 2025, development activities commenced and were advanced throughout the quarter.
The main developments included the construction of the 164-room camp expansion, clearing of the plant site and TSF2 site with subsequent earthworks underway. Major structure concrete pours are planned for mid-October with civil, concrete, structural, mechanical and piping contractors already mobilised.
Mining activities have commenced at the Berwick pit and the process plant design scope progressed to about 85% complete with the execution of procurement of all equipment packages.
Capricorn also continues development activities at its Mt Gibson gold project which include the awarding of the mining services cobntract to MACA, with early works and planning activities underway.
The company has also submitted the final public environment report for Mt Gibson to the WA Department of Climate Change, Energy, the Environment and Water with public exposure and final assessment to follow.