Name of the Project
Karlawinda gold project.

Location
The project is located in the Pilbara, in Western Australia.

Project Owner/s
Capricorn Metals.

Project Description
An optimisation study on Karlawinda has resulted in significant improvements to its economic parameters.

The life-of-mine (LoM) has increased to 8.5 years in the optimisation study, compared with 6.5 years in the June 2017 feasibility study. LoM gold production has also increased 25% from 660 955 oz to 823 000 oz.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project’s pretax net present value has increased from A$144-million to $243-million, at an 8% discount rate, while the internal rate of return has increased from 31% to 36%.

Project payback has decreased from 3.1 years to 2.5 years.

Capital Expenditure
Capital costs have decreased from A$146.3-million in the October 2017 feasibility study to A$132-million in the optimisation study.

Planned Start/End Date
Construction is expected to start in the March quarter of 2020, with first gold production in the March quarter of 2021.

Latest Developments
Capricorn Metals has reported a 35% increase to the ore reserve at the Karlawinda gold project.

The project’s ore reserve has increased from 892 000 oz to more than 1.2-million ounces, while the mineral resource has increased by 41%, from 2.14-million ounces to 1.52-million ounces.

The A$132-million Karlawinda project was initially expected to produce 660 955 oz over an eight-and-a-half-year mine life

Key Contracts and Suppliers
Not stated.

Contact Details for Project Information
Capricorn Metals, tel +61 8 9212 4600, fax +61 8 9212 4699 or email enquiries@capmet.com.au.