One of the most successful ASX listed gold miners of recent times has been Capricorn Metals Ltd (CMM). 

5 years ago CMM had a share price of 30 cents and a market cap of $90m.

Shares are now trading at $4.90 and CMM has a market cap of $1.8b

Over this time management built a new mine producing around 110,000 ounces a year at Karlawinda in the Pilbara region of WA. Five years ago the area was just desert.  Since then they have gone on to buy a collection of tenements called Mt Gibson in WA and carried out a large amount of exploration and intend to turn this into a mine similar to Karlawinda.  A terrific achievement.

The success of CMM has not gone unnoticed and they are now one of the most expensive gold producers on the ASX.  And the gold price will continue to do whatever it is going to do.

Three of the four directors are very competent ex Regis Resources staff. Back in 2019 they thought they might be better off doing all this gold digging stuff themselves, hence CMM.  

At the beginning of this CMM journey, Director Myles Ertzen held 3,611,539 CMM shares and had not sold any shares up until the beginning of this month. Myles shareholding represented just under 1% of the total share count.

On the 4/5/24 Myles sold 2,011,539 of these shares for $4.90 each walking away with $9.9m.

 If you are a CMM shareholder or thinking of becoming one, maybe you don’t need to know much more.