https://www.miningweekly.com

Capricorn hedges first gold from Karlawinda

14th August 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold developer Capricorn Metals has hedged 200 000 oz of gold from its Karlawinda mine, in Western Australia, at a price of A$2 249/oz.

The hedging amount represented around two years of anticipated gold production out of the current eight-and-a-half-year mine life, on the current ore reserve of 892 000 oz of gold.

“We are very pleased to have been able to work with Macquarie Bank to expedite a gold hedge to underpin the development of the Karlawinda gold project,” said Capricorn executive chairperson Mark Clark.

“Gold hedging of 200 000 oz at a price of A$2 249/oz should provide a very strong operating margin for the project.”

Capricorn earlier this week launched a A$65-million share placement to fund the development of Karlawinda, where construction is slated to start in the March quarter of 2020, with first gold production in the March quarter of 2021.

An optimisation study estimated a capital requirement of A$132-million to develop the 1.5-million-ounce Karlawinda project, which is expected to produce 660 955 oz over an eight-and-a-half-year mine life.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.051 0.84s - 128pq - 2rq
Subscribe Now