Capricorn Metals (ASX:CMM) disclosed its financial and operational results for the first half of the 2026 financial year, underpinned by strong performance at its flagship Karlawinda Gold Project.
The company reported a statutory underlying profit after tax of $144.8 million, representing a substantial 130% increase compared to the previous year.
The growth was driven by the production of 62,794 ounces of gold at an all-in sustaining cost of $1,627 per ounce, generating record sales revenue of $350.1 million at an average gold price of $5,842 per ounce.
Capitalising on this robust cash flow, Capricorn’s board has declared a maiden fully franked interim dividend of 5 cents per share, totalling $22.8 million.
The milestone follows a significant strengthening of the balance sheet, with the company’s net cash position rising by $85.1 million to reach a total of $440.8 million.
Executive Chairman Mark Clark noted that the company remains fully funded to complete its primary growth initiatives.
These include the Karlawinda Expansion Project, which aims to increase annual production to 150,000 ounces by Q1 FY27, and the development of the Mt Gibson Gold Project.
With nine drill rigs currently active at Mt Gibson to unlock underground mining potential, Capricorn is on track to meet the upper end of its FY26 production guidance of 115,000 to 125,000 ounces.