Mount Gibson Gold Project, WA

Capricorn Metals Limited (CMM) | Updated Pre-Feasibility Study (open pit and underground) | Released 27 Jul 2026

Mine life

19.25 years

LOM, combined open pit and UG

Strip ratio

5.0

Open pit W:O, excl. pre-production

NPV

A$6.1 billion

Pre-tax, 7.5%, post-capex; OP and UG

Capex

A$345 million

Development capital, plant and infra

Inferred share: Inferred 4% of LOM production (OP and UG); none in OP schedule

Figures are as the company states them, in its currency and on its basis. "Not disclosed" means the release doesn't state the figure.

Planning inputs

Inferred 4% of LOM production (OP and UG); none in OP schedule | Slope angles not disclosed | No added OP dilution or recovery factors | OP contract mining (MACA) | UG mine plan by Orelogy

Also in the release

Milled grade 1.0 g/t at 5.0 Mtpa nameplate, recovery 92.1%. AISC A$1,870 per ounce over the LOM. A further A$129 million for pre-production mining. Open pit 86%, underground 14% of LOM production.

Read the release on the company's siteAdded to the tracker; released before the first issue of The Study Sheet.

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