Capricorn Metals (CMM) investor relations material

Executive summary

• Achieved record full-year results with strong operational and financial performance, highlighted by robust gold production and sales at the Karlawinda Gold Project (KGP).

• Transitioned to a tax-paying position, enabling the commencement of fully franked dividend payments.

• Maintained a strong balance sheet, supporting both shareholder returns and funding for growth projects.

Financial highlights

• Sales revenue reached $769.3 million, up 46% year-over-year, from the sale of 123,096 ounces at an average price of $6,241/oz.

• Underlying profit before tax rose 71% to $467.5 million; underlying net profit after tax increased 59% to $327.2 million.

• Underlying EBITDA was $483.6 million, up 63% year-over-year, with a 63% EBITDA margin.

• Cash flow from operating activities was $470.2 million, up 81% year-over-year.

• Net cash position increased by $149.1 million to $504.8 million.

Outlook and guidance

• FY27 gold production guidance is 137,000–147,000 ounces, an 18.3% increase at the midpoint, with AISC of $1,900–$2,100/oz.

• KGP expected to operate at a long-term run rate of 150,000 ounces per annum after KEP commissioning.

• Development at Mt Gibson Gold Project (MGGP) targeted to commence in Q2FY27, subject to permitting.