Capricorn Metals (ASX:CMM) announced it is on track to meet the upper tier of its FY26 production guidance following a robust March 2026 quarter at the Karlawinda Gold Project.
The Western Australian-based miner produced 30,358 ounces of gold during the period, bringing its year-to-date total to 93,152 ounces.
The performance reinforces the company's confidence in achieving its full-year forecast of 115,000 to 125,000 ounces, maintained at an all-in sustaining cost of $1,530 – $1,630 per ounce.
Operational efficiency remained steady, with 1,092,000 tonnes of ore milled at a head grade of 0.95 g/t and an improved recovery rate of 91%.
Beyond steady-state production, Capricorn made significant strides on the Karlawinda Expansion Project, where on-site construction has reached peak levels.
Capital expenditure for the quarter totalled $50 million, with $47.3 million specifically allocated to KEP for civil works, structural steel, and piping.
Concurrently, development at the Mt Gibson Gold Project progressed with $2.7 million spent on detailed design and contract preparations.
The company remains in a commanding position, reporting $507.6 million in cash and gold on hand, up from $457.4 million in the previous quarter.
Despite a looming industry-wide risk regarding diesel fuel supply, Capricorn confirmed that its operations are currently unaffected.