Capricorn Metals Ltd. has delivered record annual gold production of 123,589 ounces for the 2026 fiscal year, meeting the upper end of its corporate guidance on the back of sustained operational performance at its Karlawinda gold project in Western Australia.
Reporting its June quarterly results, the company posted gold production of 30,437 ounces at an all-in sustaining cost (AISC) of AU$1,648 per ounce. The full-year AISC settled at AU$1,629 per ounce, supported by consistent mill throughput of 1.15 million tonnes during the final quarter.
Building on the record annual output, Capricorn has issued fiscal 2027 gold production guidance of 137,000 to 147,000 ounces, representing an 18.3 per cent increase at the midpoint of 2026 guidance, at an AISC of AU$1,900 to AU$2,100 per ounce. The growth outlook is underpinned by the Karlawinda Expansion Project (KEP), which is transitioning into commissioning this quarter.
Once plant commissioning concludes in the September quarter, Capricorn expects KGP to operate broadly at its post-expansion long-term run rate of 150,000 ounces per annum across the remainder of the financial year.
Growth capital expenditure for 2027 is projected at AU$70 million to AU$85 million as open-pit mining transitions to support expanded processing operations.
On-site construction at KEP remains on schedule, with concrete works complete, key structural and piping packages significantly advanced, and carbon-in-leach (CIL) area commissioning already underway.
Financially, Capricorn generated AU$115.8 million in quarterly operational cash flow, underpinned by fourth quarter gold sales of 34,271 ounces at an average realised price of AU$6,267 per ounce, yielding AU$214.8 million in revenue.
The company closed the financial year with AU$507 million in cash and gold on hand, after funding AU$46 million in capital expenditure and paying a AU$22.8 million maiden dividend.
Development permitting also advanced at the Mt Gibson Gold Project, where the company is targeting the commencement of site development in the December quarter, subject to final state approvals.
