Capricorn Metals Limited has extended its mining contract for the Karlawinda Gold Project with MACA Ltd for an additional five-year term, along with an option to further extend the agreement. The deal confirms the existing unit rate pricing and secures a larger mining fleet necessary to support the expanded operation, which aims to achieve a feed rate of 6.5 million tonnes per annum and boost annual gold production to roughly 150,000 ounces. MACA’s recent mobilization of the expanded fleet has already led to increased mining volumes, targeting 1.2 to 1.4 million bank cubic meters per month to complete the essential early stripping ahead of the project’s full ramp-up. In a separate but related move, Capricorn Metals has designated MACA as the preferred mining contractor for its Mt Gibson Gold Project following a competitive tender process. The winning bid featured unit cost rates that align well with the company’s reserve model estimates, validating the project’s economics. While the selection locks in tender pricing subject to typical rise and fall variations, it imposes no immediate financial or operational commitment until all regulatory permitting is finalized. This early contractor selection is expected to allow rapid mobilisation once permits are secured, mitigating potential delays in equipment lead times and service delivery. Executive Chairman Mark Clark highlighted that the extension of the current contract not only supports the Karlawinda expansion by confirming cost structures but also reinforces a long-standing and successful relationship with MACA Ltd. The company's strategic move to secure MACA as the preferred contractor for the Mt Gibson project further illustrates its commitment to robust cost management and operational efficiency as it advances toward project development. From a bullish perspective, the agreement underpins strong cost discipline with fixed unit rates and long-term service commitments that enhance production forecasts and revenue potential. The validation of the reserve model and rapid mobilisation plans support an optimistic outlook for sustained production increases and improved operational leverage. Conversely, the bearish view points to the inherent regulatory risks and forward-looking nature of the project approvals. Delays in permitting or unforeseen changes in market conditions and mining costs could impact the anticipated benefits. Additionally, while the contract terms are favorable now, fluctuations in unit pricing and ongoing compliance requirements remain factors for cautious investors to monitor. Overall, the developments signal important progress for both projects and highlight Capricorn Metals Limited’s proactive approach in aligning operational capabilities with its ambitious expansion plans.