Capricorn Metals Posts Record Cash Flow as Karlawinda Performs and Growth Projects Advance

Capricorn Metals Ltd ( (AU:CMM) ) has provided an announcement.

Capricorn Metals reported another strong quarter at its Karlawinda Gold Project, producing 30,476 ounces of gold at an all-in-sustaining cost of $1,627 per ounce, bringing year-to-date output to 62,794 ounces and keeping the company on track to reach the upper end of its FY26 production guidance. Operational cash flow hit a record $122.4 million for the quarter, lifting cash and gold on hand to $457.4 million even after significant capital spending on the Karlawinda Expansion Project (KEP) and the Mt Gibson Gold Project, while gold sales of 31,652 ounces generated $200.5 million in revenue. Development of the KEP advanced materially following key regulatory approvals, with bulk earthworks, concrete works, CIL tank installation and delivery of major equipment progressing on schedule toward expanded processing capacity. At Mt Gibson, mine planning and process plant design moved toward finalisation and environmental approvals advanced at both federal and state levels, underpinning the project’s advancement toward development. Exploration and resource work delivered an increased Mineral Resource Estimate for the Orion South Underground deposit at Mt Gibson and supported a conceptual underground mining study, contributing to a lift in Capricorn’s group Mineral Resource to 8.1 million ounces and maintaining group Ore Reserves at 4.0 million ounces, reinforcing the company’s long-term production pipeline. The acquisition of Warriedar Resources, completed in November 2025, further strengthened Capricorn’s balance sheet and asset base, enhancing its growth profile in the Australian gold sector.

The most recent analyst rating on (AU:CMM) stock is a Buy with a A$17.50 price target. To see the full list of analyst forecasts on Capricorn Metals Ltd stock, see the AU:CMM Stock Forecast page.

More about Capricorn Metals Ltd

Capricorn Metals Ltd is an Australian gold producer focused on the development and operation of open-pit gold projects, primarily the Karlawinda Gold Project (KGP) in Western Australia and the Mt Gibson Gold Project (MGGP). The company is expanding its production base through organic growth projects, resource and reserve upgrades, and strategic acquisitions such as Warriedar Resources, with a growing portfolio of gold assets across key Western Australian gold districts.

Average Trading Volume: 2,001,792

Technical Sentiment Signal: Buy

Current Market Cap: A$7.01B

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