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Capricorn Metals Ltd (ASX:CMM)

ALERT: Price-sensitive ASX Announcement for CMM
Current share price for CMM : $16.245 4.345 (36.51%)+
Announcement
Release
27 Jul 2026 8:26AM
Price at Release
$11.900
Full Release
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Summary
Capricorn Metals Limited (ASX: CMM) has announced its ambitious Range 500 aspiration, targeting a production of 500,000 ounces of gold annually within the next five years. This target is driven by the progress at its Karlawinda Gold Project (KGP) and the Mt Gibson Gold Project (MGGP) in Western Australia. The company plans to expand KGP's production capacity to 150,000 ounces per annum and has outlined a steady-state production of 260,000 ounces per annum from MGGP. The MGGP mine is expected to deliver a mine life of over 19 years with significant production. Additionally, Capricorn Metals is conducting studies for a second processing hub at the Golden Range Project, with preliminary results expected in Q2FY27. Despite the ambitious goals, the company acknowledges that the Range 500 aspiration is a forward-looking statement not yet backed by reasonable grounds, focusing instead on the conceptual growth opportunities in their gold production and resource strategy.
Key Points
  • Capricorn Metals aims to reach 500,000 ounces of gold production per annum within five years.
  • KGP's expansion will boost production to 150,000 ounces annually.
  • MGGP will provide a steady-state production of 260,000 ounces per annum.
  • MGGP has a 19-year mine life with a potential of 3.5Moz production.
  • Studies for a second processing hub at Golden Range are underway.
  • Capricorn acknowledges that Range 500 is an aspirational target.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.