Earnings release
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11 October 2021 ACTIVITIES REPORT SEPTEMBER 2021 QUARTER HIGHLIGHTS CAPRICORN METALS LTD OPERATIONS • • Commissioning and optimisation of processing plant completed by the end of the quarter . Guidance throughput rates achieved on a steady state basis by the end of the quarter . • Gold production of 24,329 ounces for the quarter . • • Gold production from 1 October 2021 expected to be at the long - term production rate range of 110,000 125,000 ounces per annum . Gold production guidance for the year ending 30 June 2022 ( including above Sept21Q commissioning production ) is 110,000 – 120,000 ounces . Having reached steady state operations , reporting of All - in Sustaining Cost ( AISC ) and other financial metrics will commence for the December 2021 quarter CORPORATE • • • Acquisition of the 2.1 million ounce Mt Gibson Gold Project in the Mid - West region of WA . Cashflow from operations of $ 27.6 million for the quarter whilst still commissioning and ramping up operations . Final $ 12.8 million of project development costs paid during the quarter . • First repayment of $ 5 million of bank debt during the quarter . • • Cash and gold on hand at the end of quarter was $ 14.7 million , with debt outstanding of $ 85 million . Gold sales of 21,921 ounces at average price of $ 2,362 per oz generated $ 51.8 million in revenue with a further 1,700 ounces of gold on hand at the end of the quarter . EXPLORATION • • 263 holes ( 9,060 metres ) of a 448 hole first pass AC programme completed at the previously undrilled Mundiwindi greenstone belt targeting Bibra style deposit . Encouraging lithologies intersected , assays pending and expected by end of October 2021 . Completion of a 14 hole ( 850 metres ) near mine AC drilling programme at Bibra East during the quarter with all results pending . 14 tenement applications granted at Mt Gibson Gold Project to date and early planning of exploration and resource drilling programmes underway . PF +61 8 9212 4600 Level 1 , 28 Ord Street , West Perth , WA 6005 F +61 8 9212 4699 ABN 84 121 700 105 www.capmetals.com.au