Capricorn Metals Updates Reserves and Production Outlook
Key points
- Group Ore Reserves increased by 33% to 5.2 million ounces
- Mt Gibson PFS Update projects steady-state production of 260 koz pa
- Aspiration to achieve 500,000 ounces per annum production within 5 years
- Karlawinda expansion targets 150 koz pa
- Range 500 aspiration includes a second processing hub at Golden Range
Full summary
Capricorn Metals Ltd. has released a significant update on its gold reserves and production outlook. The company's group ore reserves have increased by 33% to 5.2 million ounces, with strong growth at both the Karlawinda and Mt Gibson projects. The Mt Gibson PFS Update projects a steady-state production of 260 koz pa within 2.5 years of project start. Capricorn also outlines an aspiration to achieve 500,000 ounces per annum production within 5 years, underpinned by the expansion of the Karlawinda project to 150 koz pa, the steady-state production of Mt Gibson, and a second processing hub at Golden Range. The company emphasizes that the Range 500 aspiration is an aspirational goal and not a production target or forecast.
Guidance
Group production outlook to exceed 400 koz pa within 2.5 years of Mt Gibson start
Outlook
Capricorn Metals aims to achieve 500,000 ounces per annum production within 5 years, contingent on the successful expansion of Karlawinda and the development of Mt Gibson and Golden Range projects.
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