Capricorn Metals (ASX:CMM) said it is set to execute its 12-month development and construction phase at its Karlawinda expansion project in Western Australia, after advancing design, procurement, and development work at the project, according to a Wednesday filing with the Australian bourse.
The company expects an optimized development schedule and updated construction cost estimate for the project by early next quarter, while full procurement and early site works are already underway, the filing said.
Shares of the company rose nearly 2% in recent Wednesday trade.
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