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Capricorn Metals Shares Jump Over 8% as Gold Miner Lifts Reserves 33% to Fuel Blistering Rally This Year
['Tony Jackson']
International Business Times Australia
Over the past six months alone, the stock has outperformed the ASX All Ordinaries Index by more than 50 percentage points, reflecting sustained investor demand for exposure to the company's growing gold production base.
The upgrade spans both the company's flagship Karlawinda Gold Project and the emerging Mt Gibson Gold Project, materially extending mine life and production potential across its portfolio.
Riding a Broader Gold Sector RallyCapricorn's gains this week have also come against the backdrop of a broader rally across Australian gold equities, with elevated bullion prices continuing to support margins for unhedged producers such as Capricorn.
Wednesday's move outpaced the broader materials sector, which also finished the session higher, with the S&P/ASX 200 index climbing 1.40% to close at a fresh record.
With gold prices remaining elevated and Capricorn continuing to deliver on both production targets and resource growth, the company's shares are likely to remain closely watched by investors seeking exposure to the Australian gold sector.