The Capricorn Metals Ltd (ASX: CMM) share price could be in focus today after reporting record annual gold production of 123,589 ounces at the Karlawinda Gold Project and a strong $115.8 million in quarterly operating cash flow.
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What did Capricorn Metals report?
- Q4 FY26 gold production: 30,437 ounces at an all-in sustaining cost (AISC) of $1,648/oz
- FY26 annual gold production: 123,589 ounces at AISC of $1,629/oz
- FY27 gold production guidance: 137,000–147,000oz at AISC of $1,900–$2,100/oz
- Q4 operating cash flow: $115.8 million (down from $143.1m in Q3)
- Q4 sales: 34,271 ounces at an average $6,267/oz for $214.8 million revenue
- Cash and gold on hand at 30 June 2026: $507.0 million
What else do investors need to know?
The Karlawinda Expansion Project is progressing as planned, with construction activities moving into plant commissioning this quarter. Once finished, the expansion will support an increased production rate of around 150,000 ounces per year for Karlawinda.
Development at the Mt Gibson Gold Project also moved forward, with Capricorn securing approval from the Federal Government for project expansion and operation. With key State-level environmental submissions now lodged, site development is targeted for the December 2026 quarter, pending final permitting.
What's next for Capricorn Metals?
Capricorn expects gold production to rise in FY27, with guidance set 18.3% higher at the midpoint compared to FY26, mostly due to post-expansion throughput at Karlawinda. The company plans to complete commissioning at the expansion project in the current quarter, aiming for a long-term run rate of 150,000 ounces per year.
At Mt Gibson, permitting and early works are ongoing. Should approvals remain on track, initial development activities could begin later in 2026, supporting Capricorn's growth pipeline. Exploration drilling across the portfolio is ongoing, with several high-grade results providing future resource growth opportunities.
Capricorn Metals share price snapshot
The Capricorn Metals share price is up around 42% over the past 12 months. As a comparison, the S&P/ASX 200 index (ASX: XJO) is only up by 2.6%.
