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Capricorn Metals (ASX:CMM) is on track to meet production targets for the 2025 fiscal year, as data for the December quarter showed its Karlawinda Gold Project in Western Australia had yielded a record 28,702 ounces of gold in the December quarter.
The company has set its FY25 guidance between 110,000 and 120,000 ounces; the December data from Karlawinda will ensure a half-year production of 54,261 ounces – comfortably within the midpoint.
All-in-sustaining cost (AISC) is also now expected to be somewhere within the FY25 cost guidance range of $1,370 to $1,470 per ounce.
The focus of production during the quarter was on moving material from the Bibra open pit to maintain the budgeted pit face positions by the end of the quarter. Capricorn is expecting that mining from Bibra will show stronger production throughout the second half of FY2025.
The company also reported pre-stripping works had begun in the Southern Corridor extension of the Bibra deposit during the quarter and that gold recoveries had remained strong at a budgeted rate of 92%.
Capricorn has been trading at $6.37 a share this morning.
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