Capricorn to expand Mt Gibson accommodation

Capricorn Metals has announced the installation of 400 accommodation units at its Mt Gibson gold project will likely begin next month. 

The West Perth-based gold producer told the market on Tuesday it had received regulatory approval to construct a new camp at the site, located 280 kilometres north-east of Perth. 

The purchase of units totalled $1.7million, which ensured Capricorn's cash build of $26.5 million for the December 2023 quarter.

Capricorn also provided a preliminary production update from its Karlawinda gold project, situated 65km south-east of Newman. 

The Pilbara gold mine produced 30,399 ounces of gold during the December quarter 2023, up 699oz from the 29,700oz generated during the September 2023 quarter. 

Capricorn has produced 60,099oz of gold halfway throughout the 2024 financial year and is confident it will meet its 115,000-125,000oz annual production guidance. 

Last month, two Capricorn directors - including chairman Mark Clark - elected to sell slices of their shareholding in the company. 

Shares in the goldminer took a small hit early in 2024, dipping from $4.65 per share on January 2 to $4.35 per share two days later. 

However, Tuesday's preliminary production data release resulted in an early gain for Capricorn, which last traded at $4.40 per share, up 0.69 per cent, as of 1.39pm AEDT. 

Capricorn said all operational and cost details would be provided later this month in its quarterly report.