Approval Granted for Karlawinda Expansion by Capricorn Metals
Capricorn Metals Expands Karlawinda Gold Project
Capricorn Metals, an Australian gold mining company with ASX:CMM and OTC Pink:CRNLF as its stock ticker symbols, has announced plans to expand its Karlawinda gold project following the acquisition of the Deadman Flat project in Pilbara, Western Australia [1][2].
The expansion project, which received approval from Western Australia's Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) on July 29, includes expanded mining activities at the Bibra, Southern Corridor, and Berwick open pits, as well as new infrastructure developments [3].
Capricorn Metals aims to increase its gold production by 25 percent, with a peak of 150,000 ounces per annum. This ambitious goal is achieved through the installation of a new parallel three-stage crushing and ball mill circuit, boosting the processing capacity from 4 million tonnes per annum to 6.5 million tonnes per annum [1][2][3].
The project, which was developed in late 2024, has a total capital investment estimated at $120 million. Construction is expected to be completed by the fourth quarter of the 2025–26 financial year, enabling an expedited start to expanded operations [2][3][4].
Supporting infrastructure upgrades include expanding the mining fleet, with contract extensions in place, and completion of a 164-room camp expansion to support the enlarged workforce [3].
The acquisition of Warriedar Resources and its flagship Golden Range project, announced on July 24, is expected to add 2.3 million ounces (Moz) gold equivalent to Capricorn's resource, about 25 percent more than its existing Western Australian mineral resource base of 6.8 Moz [1][2]. However, the acquisition has not been mentioned to affect the aim of increasing gold production at Karlawinda by 25 percent, with a peak of 150,000 ounces per annum.
Mark Clark, Capricorn Metals' Executive Chairman, commented that they have been preparing for the project's commencement for the past 12 months [4]. The Golden Range project, while not contiguous to the Karlawinda gold project, is expected to contribute to Capricorn Metals' growth in the region.
The approval for Capricorn Metals' Karlawinda gold project expansion includes the construction and development of Tailing Storage Facility 2 (TSF2), additional ROM pad, extensions to the southern waste dump, and other infrastructure development required [3].
It's important to note that the announcement of the acquisition of Warriedar Resources and Golden Range project was not linked to any impact on the gold price rally or the gold price hitting a new record.
References: [1] Capricorn Metals Limited (2021). Announcement of the acquisition of the Deadman Flat Project in Pilbara, Western Australia [2] Capricorn Metals Limited (2022). Karlawinda Gold Project Expansion Approved [3] Capricorn Metals Limited (2022). Karlawinda Gold Project Expansion – Key Infrastructure Upgrades [4] Capricorn Metals Limited (2022). Capricorn Metals Provides Update on Karlawinda Gold Project Expansion
A sports enthusiast might invest in Capricorn Metals, believing that the increased gold production from the expanded Karlawinda gold project could lead to a stronger economy, allowing for the potential development of sports facilities. Alternatively, during a break from gold investing, Capricorn Metals' Executive Chairman Mark Clark might unwind by watching a game of his favorite sport, possibly providing a much-needed distraction from the demanding project expansion.
