CMM.ASX: Capricorn Gold Reserves Increase to 5.2 Million Ounces

Capricorn Gold Reserves Increase to 5.2 Million Ounces

Stock	Capricorn Metals Ltd (CMM.ASX)
Release Time	27 Jul 2026, 8:26 a.m.
Price Sensitive	Yes

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Capricorn Metals Gold Reserves Increase to 5.2 Million Ounces

Key Points

Group Ore Reserve increased 33% to 5.24 million ounces of gold
Karlawinda Gold Project Ore Reserve increased 32% to 1.57 million ounces
Mt Gibson Gold Project updated PFS confirms strong growth outlook
Capricorn targets commencement of site development activities in Q2FY27

Full Summary

Capricorn Metals Limited (ASX: CMM) announced a significant increase in its gold reserves, with the Group Ore Reserve estimate rising 33% to 5.24 million ounces of gold. The Karlawinda Gold Project (KGP) Ore Reserve increased by 32% to 1.57 million ounces, while the Mt Gibson Gold Project (MGGP) Ore Reserve increased by 21% to 3.31 million ounces. The updated PFS for MGGP confirms a steady state gold production average of 260,000 ounces per annum from concurrent underground and open pit mining. Capricorn is targeting the commencement of site development activities in Q2FY27, with Federal environmental permit received and WA permitting progressing.

Guidance

Group Ore Reserve estimate increased to 5.24 million ounces of gold

Outlook

Capricorn Metals targets commencement of site development activities in Q2FY27, with Federal environmental permit received and WA permitting progressing.