https://newsletter.mw.creamermedia.com
Crushing|Exploration|Gold|Installation|Mining|PROJECT|Projects|Underground|Drilling
Crushing|Exploration|Gold|Installation|Mining|PROJECT|Projects|Underground|Drilling
crushing|exploration|gold|installation|mining|project|projects|underground|drilling

Capricorn raises $200m for Karlawinda expansion

1st November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Exploration and development company Capricorn Metals has announced a $200-million capital raise to fund the expansion of the Karlawinda project, in the Pilbara.

The ASX-listed firm will raise the funds through an institutional placement at A$6 a share, representing a discount of 4.9% to the last closing price of A$6.31 a share.

Earlier this week, Capricorn greenlit the Karlawinda expansion, which will enhance the project’s yearly production rate to 150 000 oz, based on a ten-year mine life and existing ore reserves of 1.43-million ounces at a grade of 0.8 g/t.

The expansion will involve the installation of a new crushing and ball mill circuit, which will increase the facility’s processing capacity to 6.5-million tonnes a year.

The total capital investment required for the Karlawinda expansion is estimated at A$120-million, with a projected payback period of 20 months.

The capital raised will also be used for development at the Mt Gibson gold project, including accelerated exploration aimed at continued resource and reserve growth, along with expediting drilling focused on areas of the resource and beyond presenting potential underground resource and mining opportunities.

The development of the Karlawinda expansion and the Mt Gibson project will see Capricorn on a path to 300 000 oz/y with operating costs in the lowest of the Australian gold mining industry.

The growth is underpinned by a 3.3-million-ounce reserve base at two projects with lives exceeding ten years.   

Edited by Creamer Media Reporter

Comments

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Amsted Reelin image
Amsted Reelin

REELIN is Currently the largest supplier of Bearings to Transnet. We have contracts to supply bearings, draft gears slackadjusters and other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (11/07/2025)
11th July 2025 By: Martin Creamer
PGMs, Coega Green Ammonia Project make headlines
PGMs, Coega Green Ammonia Project make headlines
11th July 2025
Magazine cover image
Magazine round up | 11 July 2025
11th July 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.197 0.276s - 164pq - 2rq
Subscribe Now