Company
ASX: BGL
Bellevue Gold Ltd (ASX:BGL) is advancing the historical Bellevue Gold Mine in Western Australia, a site that was once one of Australia’s highest-grade gold mines, producing 800,000 ounces at 15 g/t gold from 1986 to 1997. The company has a resource of 3 million ounces at 9.9 g/t gold, including an indicated resource of 1.4 million ounces at 11 g/t, making it one of the highest-grade undeveloped gold discoveries in the world. Bellevue hopes to join Australia's fleet of gold producers in 2022.
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"We are reaping the benefits of the decisions we made some time ago to order critical long-lead items early,” MD Steve Parsons said. “This has helped us avoid supply chain disruptions and advance the de-risking process."
The company's namesake gold play is on-time and on budget, with the first gold pour in the calendar for the second half of 2023.
The company remains on track to become Australia’s first ASX-listed net-zero gold miner at its namesake project in WA, where production is slated to begin in the second half of 2023.
The off-grid hybrid power station agreement with EDL will see Bellevue become the first ASX-lister to produce carbon-neutral 'green gold’, which is great for the environment and places BGL at a competitive advantage internationally.
The agreement ensures that important cultural and heritage considerations have been included in the Bellevue Gold Project’s surface design and layout.
“Having the best possible team on site helps ensure we will continue to execute our development plan, which remains on time and on budget with 90% of our pre-production contracts locked in," MD Steve Parsons said.
“Kate has a track record of being extremely successful in leadership roles and demonstrating an engaging and consultative approach,” said Bellevue CEO Darren Stralow.
The company's development strategy is designed to deliver a diversified, low-risk operation with maximum flexibility and scalability.
“GRES knows the Bellevue project well and they are extremely experienced in designing and building gold plants in WA. Their readiness to accept Bellevue shares as part-payment is a strong vote of confidence in our project and the outlook fo
“By locking in 90% of our pre-production costs and underpinning our 10-year mine life with 1.34 million ounces in reserves, we have significantly de-risked the project and put us on a path to realising the immense value of this exceptional
Develop was awarded the ~A$400 million contract following a six-month competitive tender process, which included rigorous analysis by an independent third party at each stage.
GR Engineering Services will now begin design engineering services and locking in long lead and critical path items including the ball mill, crushing equipment, screens, agitators, leach and tailings thickeners.
“We continue to be high conviction on BGL, with the stock trading on a price to net asset value ratio of 0.64x and a number of catalysts that validate and de-risk the project expected in the short term. SPECULATIVE BUY recommendation mainta
“We are adding indicated ounces at a cost of less than A$25 per ounce at one of Australia’s highest-grade undeveloped gold mines. This increased indicated resource is expected to lead to increased reserves and a longer mine life compared wi
On Bellevue’s ESG goals, the MD said: “We have a clear strategy to be Australia’s first carbon-neutral gold producer and as the mining contractor, Develop will play a key role in helping ensure we meet this ambitious target.”
More strong drilling results, combined with the expected favourable outcomes of project optimisation studies, will underpin a June quarter update on the 1-million-ounce reserve.
Bellevue's MD says that incoming CFO Guy Moore's "thorough knowledge of the ASX-listed gold sector will also be particularly relevant as we move towards production and cashflow and his understanding of bullion products will enable him to pl
High-grade intersections from infill drilling and beyond the resource have given the company a boost as it targets a flurry of mine development activities over the next month.
Over the December quarter, the gold explorer and project developer hit several key milestones, including establishing a $200 million loan facility with Macquarie Bank Ltd, ensuring Bellevue is fully funded to production.
“Mike has done an outstanding job, culminating in completion of the highly successful funding process for our Bellevue project. I am delighted that we will continue to benefit from his skills, experience and in-depth knowledge of our projec
