Capricorn Metals Ltd (AU:CMM) has released an update.
Capricorn Metals Ltd announced a significant increase in their Ore Reserve Estimate at the Mt Gibson Gold Project, now standing at 1.83 million ounces, marking a 26% rise from the previous year. The updated project forecasts an average annual gold production of 155,000 ounces for the first nine years, with a rapid payback period of 2.3 years pre-tax, and indicates robust economic prospects with over A$1.7 billion of expected operating cashflow over its 11.5-year life. Capricorn is poised to join an elite group of Australian gold producers with over 250,000 ounces per annum production and more than 3 million ounces in reserves.
For further insights into AU:CMM stock, check out TipRanks’ Stock Analysis page.
