InvestSMART

Capricorn Metals Ltd (ASX:CMM)

ALERT: Price-sensitive ASX Announcement for CMM
Current share price for CMM : $16.150 4.25 (35.71%)+
Announcement
Release
27 Jul 2026 8:26AM
Price at Release
$11.900
Full Release
download
Summary
Capricorn Metals Ltd has announced a significant increase in its gold reserves, now totaling 5.24 million ounces, driven primarily by advancements at the Karlawinda and Mt Gibson Gold Projects in Western Australia. This growth supports a robust production outlook, with expectations to exceed 400,000 ounces of annual gold output within 2.5 years. The increase includes a 32% rise in reserves at Karlawinda and a 21% increase at Mt Gibson, enhanced by a new underground reserve. These developments ensure long mine lives of over 10 years for Karlawinda and 19 years for Mt Gibson, based on conservative financial projections. Environmental permits are in progress, paving the way for future site developments.
Key Points
  • Capricorn Metals Limited has increased its gold reserves to 5.24 million ounces.
  • The Karlawinda Gold Project (KGP) and the Mt Gibson Gold Project (MGGP) contribute significant resources.
  • KGP's Ore Reserve has grown by 32% to 1.57 million ounces.
  • MGGP's Ore Reserve has increased by 21% with a new underground reserve.
  • Capricorn plans to achieve over 400,000 ounces of gold production annually within 2.5 years.
  • The updated Ore Reserves and Mineral Resources are based on conservative gold prices.
  • Capricorn's projects are poised for long-term mine life with KGP at 10 years and MGGP at 19 years.
  • Federal and WA environmental permits have been progressed for site developments.
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.