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Karlawinda

Royalty2% NSR
TermsUncapped, without buybacks
Acquisition DateFebruary 2021
LocationAustralia
CommodityGold
OperatorCapricorn Metals Ltd (ASX: CMM)
Mine TypeOpen Pit
Mine Life10 years (Operator Guidance)
Area110km2

The Karlawinda Gold Project (KGP) is a large-scale open pit mine located in the Pilbara region of Western Australia. The mine is 70km by road south-east of the town of Newman and began commercial production in Q3 2021.

Mining is focused on the Bibra Deposit, hosted in a sequence of Archaean greenstone belt volcanics and sediments metamorphosed to amphibolite facies. Mineralisation at Bibra is shoot controlled along a series of low-angle mineralised faults. North-east trending shoots form broad zones up to 50m thick and are continuous down-plunge. Bibra has been defined by drilling over a 1.8km strike length and is drilled to 620m depth with the MRE up to 365m below ground level. The updated 2024 open pit mine design is to a depth of 310m. Ore is processed onsite, with current throughput rates of 4Mtpa for fresh ore and up to 5Mtpa for oxide. Gold is extracted through conventional gravitation and cyanide leaching.

In August 2024, Capricorn Metals released an updated Reserve and Resource statement for Karlawinda, announcing their Ore Reserve Estimate had increased by 330,000 ounces after depletion. Alongside this inventory growth, in October 2024, Capricorn announced board approval of a major expansion, targeting a 2 to 2.5Mtpa increase in mill throughput and an annual gold production of 150,000 ounces. Capricorn are estimating completion of the expanded plant by the end of Q2 2026. Elemental Altus expects to see a material increase in royalty revenue post-expansion, with all current reserves located within the attributable royalty area.

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Sources

  • Capricorn Metals ASX Release titled “Karlawinda Expansion to Increase Annual Gold Production to 150,000 Ounces”, dated October 29, 2024
  • Capricorn Metals ASX Release titled “KGP Ore Reserve Increases to 1.43 Million Ounces – Expansion Study Underway”, dated August 1, 2024
  • Capricorn Metals ASX Release titled “Quarterly Exploration Update”, dated July 24, 2024
  • Capricorn Metals Annual Report 2023, dated 8 September 2023 and effective June 30, 2023
  • For more information on Karlawinda, please visit http://capmetals.com.au/