Capricorn Metals hits record cash flow, declares dividend

Capricorn Metals (ASX:CMM) delivered a robust March quarterly report headlined by record cash flows and a maiden dividend.

The Karlawinda Gold Project, located in the Pilbara region, produced 30,358 ounces during the period, underpinned by a highly efficient cost profile.

All-in sustaining costs improved to $1,617 per ounce, down from $1,627 in the previous quarter, defying broader inflationary pressures currently facing the mining sector.

The company’s financial performance was bolstered by a surge in gold prices, with sales of 29,009 ounces achieved at a remarkable average price of $7,034 per ounce.

This generated $204 million in quarterly revenue and drove operating cash flow to a record $143.1 million.

Capricorn reported total cash and gold bullion on hand of $507.6 million. The board declared a maiden fully franked interim dividend of 5 cents per share.

With year-to-date production now sitting at 93,152 ounces, Capricorn is on track to meet its upper-end guidance of 115,000 to 125,000 ounces for the 2026 financial year.

The miner confirmed that the Karlawinda expansion remains on schedule for commissioning in early FY27.