Gold production in the March quarter rose to 31,769 ounces from 30,316oz in the December quarter.

Pre-royalty cash costs were A$942 an ounce and all-in sustaining costs were $1086/oz, slightly higher than the December quarter due to the addition of a third mining fleet and higher material movement.

Karlawinda started production on June 30 last year.

Production for the first nine months of the 2022 financial year was 86,114oz, putting Capricorn on track to achieve the top end of full-year guidance of 110,000-120,000oz.

Life-of-mine AISC is forecast at $1100-1200/oz.

Cashflow from operations in the March quarter was $35.1 million, while revenue was $72.9 million.

Cash and gold at the end of the quarter increased to $45 million, reflecting cash build of $25 million.

The company reduced bank debt to $65 million after a $10 million repayment. Net debt stands at $20 million.

Capricorn recently reported a half-year profit of $51.8 million.

On a weak day for mining stocks, Capricorn fell 3.6% to $4.28. The stock reached an all-time high last week of $4.85.