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FinanceCapricorn Metals: Total gold reserves rise to 5.2M oz, Mount Gibson PFS updated
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Capricorn Metals Ltd released three significant updates to the ASX, including an increase in total gold reserves to 5.2 million ounces across its Karlawinda and Mount Gibson projects in Western Australia. The company also released an updated pre-feasibility study (PFS) for Mount Gibson, outlining a development plan that allows the underground mine to commence alongside the open pit operation. This is expected to ramp up forecast gold production. CEO Mark Clark described the updates as marking an inflection point for the company over the next five years, emphasizing low-cost, low-complexity operations that position Capricorn to deliver long-term shareholder value.
Source report
Presentation by Mark Clark, CEO & Executive Chairman
Thank you, Pauley. Good morning, everyone, and thanks for taking the time to join us on the call this morning. I'm joined on the call by Deputy CEO, Paul Criddle; CDO, Shane Clark; and CFO, Will Nguyen.
You will have seen that we released three significant updates to the ASX today. These announcements are the culmination of a substantial amount of work and progress at both our projects and mark a very important inflection point in where Capricorn is headed in the next five years. I believe we are on the cusp of a very exciting time for the company.
Reserve Updates
Today, we updated reserves at both Karlawinda and Mount Gibson. These updates increased Capricorn's gold reserves to 5.2 million ounces. The reserves underpin long mine lives at both projects. With both projects located in Western Australia and being low cost with low technical and operational complexity, this positions Capricorn to deliver value to shareholders over the long term.
Mount Gibson Pre-Feasibility Study Update
The second announcement we made today was an update to the Mount Gibson pre-feasibility study. This study is our first opportunity to bring the exciting underground mine at Mount Gibson into the production profile. We have a development plan that allows the underground mine to commence contemporaneously with the open pit operation, enabling forecast gold production to ramp up.
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Capricorn Metals Ltd Reports Gold Reserve Increase and Mount Gibson PFS Update