Capricorn Metals has extended its close working relationship with Perth-based contractor MACA at its flagship Karlawinda gold project.
Capricorn Metals has extended its close working relationship with Perth-based contractor MACA at its flagship Karlawinda gold project.
As it moves towards producing 150,000 ounces per year at the site, Mark Clark-chaired Capricorn told the market it had extended its contract with MACA for an additional five years.
Coupled by this, the goldminer has also issued a notice selecting MACA as preferred contractor for its Mt Gibson project in the Murchison.
"We are pleased to have executed a five-year extension of the mining contract with MACA for Karlawinda that confirms existing unit cost rates and is already delivering the increased mining volumes required to underpin the exciting Karlawinda expansion project,” Mr Clark said.
“This expansion will lift the operation to 6.5mtpa and increase annual gold production to around 150,000 ounces.
“To secure MACA’s services as preferred mining contractor for the Mt Gibson project at unit cost rates in line with our reserve model costing is strong validation of the project’s economics.
“The award also puts MACA in an excellent position to rapidly advance early mining works once Capricorn completes the current regulatory permitting phase and launches development.”
As of its March 2025 quarter, Capricorn produced 84,860 ounces of gold and tipped it would finish in the mid-point of its 110,000-120,000oz production guidance for FY25.
Capricorn last traded at $10.46, up 3 per cent, as of 10.35am AWST.
