The board of
KGP full year production for FY22 was 118,432 ounces, at the upper end of guidance of 110,000 120,000 ounces.
Cash and bullion holdings increased to
Net cash of
Achieving a net cash position within first year of operations reflects the strong operating performance and cashflow generation of KGP.
Shortly after the end of the quarter, Capricorn repaid
The
Based on the strength of the KGP life of mine outlook, Macquarie has agreed to convert the
30,000 ounces of gold forward sale contracts with an average delivery price of
The contango earned from rolling those contracts to match the loan maturity has been applied to 39,000 ounces of existing gold hedging due for delivery in March -
The new corporate loan facility and restructure of the gold hedging allow Capricorn to maximise and utilise its cashflow to pursue both internal and external growth in the short to medium term.
Further details of operations and exploration activities will be provided in the quarterly report to be released later in
Capricorn Executive Chairman
Contact:
Mr
Tel: +61 8 9212 4600
Forward Looking Statements
This announcement may contain certain 'forward-looking statements' which may not have been based solely on historical facts, but rather may be based on the Company's current expectations about future events and results. Where the Company expresses or implies an expectation of belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. The detailed reasons for that conclusion are outlined throughout this announcement and all material assumptions are disclosed. However, forward looking statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to resource risk, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as governmental regulation and judicial outcomes. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any 'forward looking statement' to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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