Capricorn Metals (ASX:CMM) reported a strong operational performance at its Karlawinda Gold Project in the December 2025 quarter, producing 30,476 ounces of gold in line with its FY26 mine plan.
Year-to-date production reached 62,794 ounces, keeping the company on track to achieve the upper end of its FY26 guidance of 115,000 to 125,000 ounces at an all-in sustaining cost of $1,530 to $1,630 per ounce.
The quarter benefited from the continued achievement of post-expansion mining rates, allowing Capricorn to meet gold production targets while simultaneously advancing development works for the Karlawinda Expansion Project.
Capricorn ended the December quarter with cash and gold on hand of $444.2 million, up from $394.4 million in the previous quarter, reflecting a cash build of $88.8 million before capital expenditure of $39 million across KEP and the Mt Gibson Gold Project.
Capital spending at KEP totalled $36.1 million, with construction activities materially advancing, including completion of bulk earthworks at the plant site, significant progress on concrete works, delivery of key equipment, and ongoing pit and pre-strip mining.
Development at MGGP also progressed, with $2.9 million invested in early design, procurement and contractor preparations.
Full operational, cost and development details will be released in Capricorn's quarterly report later in January.