Capricorn Metals (CMM) Q2 2026 TU earnings summary

Executive summary

• December 2025 quarter gold production was 30,476 ounces at an AISC of $1,627/oz, with year-to-date output of 62,794 ounces at $1,626/oz, tracking toward the upper end of FY26 guidance of 115,000–125,000 ounces at $1,530–$1,630/oz.

• Record quarterly operating cash flow of $122.4 million, with cash and gold on hand rising to $457.4 million after the Warriedar Resources acquisition.

• Acquisition of Warriedar Resources completed, consolidating additional resources and exploration potential.

Financial highlights

• Gold sales of 31,652 ounces at an average price of $6,333/oz generated $200.5 million in revenue.

• Net cash from operating activities for the quarter was $122.6 million; cash and cash equivalents at quarter end were $440.8 million.

• Capital expenditure totaled $39.0 million, primarily for the Karlawinda Expansion Project (KEP) and MGGP.

Outlook and guidance

• FY26 production guidance reaffirmed at 115,000–125,000 ounces at an AISC of $1,530–$1,630/oz.

• KGP is expected to maintain mining production rates, with increased ore delivery anticipated as expansion progresses.

• KEP commissioning is scheduled for Q1 FY27, with expanded annual gold production targeted at 150,000 ounces.