Capricorn Metals pouring gold with Karlawinda expansion project construction completed

• Construction of Karlawinda expansion project (KEP) in WA completed on time
• Commissioning wrapped up over last two weeks
• Continuous ore processing now underway
• Currently processing low grade ore

Capricorn Metals (ASX: CMM) has completed construction of the Karlawinda expansion project (KEP) in WA and has started continuous gold ore processing through the new parallel crushing, milling and CIL circuits.

Construction and installation works were completed on schedule, with the Capricorn construction team delivering the project in 12 months, allowing commissioning to be completed over the last two weeks, with all new plant are now operational and transitioning to full throughput on a steady state basis.

The new plant is currently processing low grade ore and will transition to run of mine grade ore over the coming week as the plant moves to steady state.

Following commissioning, the KEP is now fully incorporated into the broader Karlawinda gold project. The expanded operation has now achieved the targeted steady state project throughput of 6.5Mtpa, with further optimisation of the product size from the KEP crushing circuit ongoing.

Commissioning of CIL areas and TSF 2 pipework is complete and run of mine (ROM) ore stocks continue to build on ROM Pad 2.

Executive chairman, Mark Clark, said the expanded Karlawinda gold project is expected to produce in the order of 150,000 ounces of gold per annum, underpinned by a mine life of more than 10 years on existing reserves.

“The commencement of continuous ore processing at the Karlawinda Expansion Project on schedule is a significant milestone for Capricorn,” Mr Clark said.

“It is the culmination of a huge effort from our construction and operations teams, supported by key contractors. We now look forward to the transition of Karlawinda into a long life operation producing around 150,000 ounces of gold per annum.”

CMM is up 4.13% to $16.12. Mkt cap $7.071B.

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