Capricorn Metals has delivered record full-year financial results for fiscal 2026, driven by strong operational performance at its Karlawinda Gold Project (KGP) and elevated gold prices.
The gold producer reported a record underlying profit before tax of AU$467.5 million, a 71 per cent increase year over year from AU$273.9 million, while underlying net profit after tax rose 59 per cent to AU$327.2 million from AU$206.4 million.
Sales revenue jumped 46 per cent to a record AU$769.3 million after selling 123,096 ounces of gold at an average realised price of AU$6,241 per ounce.
KGP produced 123,589 ounces of gold for the year at an all-in sustaining cost (AISC) of AU$1,629 per ounce. Operating cash flow from the site hit AU$470.2 million, lifting Capricorn’s total net cash position by AU$149.1 million to AU$504.8 million, even after funding development, exploration, and maiden dividend distributions.
The board declared a fully franked final dividend of 5 cents per share, bringing total 2026 returns to 10 cents per share.
The move into franked dividends aligns with the company transitioning to a full tax-paying position, with an expected single final tax payment of AU$90 to AU$100 million for fiscal 2026 due in fiscal 2027.
Looking ahead, Capricorn issued 2027 production guidance of 137,000 to 147,000 ounces at an AISC of AU$1,900 to AU$2,100 per ounce.
The Output is expected to ramp up to a long-term run rate of 150,000 ounces per year following the current quarter’s commissioning of the Karlawinda Expansion Project (KEP).
The company also plans to begin development at its Mt Gibson Gold Project (MGGP) in the second quarter of 2027, subject to regulatory approvals.
The company affirmed that internal cash flows remain sufficient to fully fund growth operations while maintaining regular shareholder returns as it transitions toward mid-tier producer status.
