Bellevue Gold Ltd (ASX:BGL) has a new substantial gold in BlackRock Group with a holding of 68.99 million shares or 10.17%.
BlackRock is the world's largest asset manager, with $7.4 trillion in assets under management as of the end of the December quarter 2019.
Recent capital raising and upcoming resource update
Bellevue recently raised $26.54 million through the placement of 88.48 million shares to sophisticated investors at a price of 30 cents per share.
Proceeds will fund further programs of infill and resource extension drilling at the Bellevue Gold Project, economic studies in preparation for development and provide general working capital.
The project’s Inferred Resource stands at 6.1 million tonnes grading 11.3 g/t for 2.2 million ounces of gold.
Bellevue is on track to publish its maiden Indicated Resource in the June quarter.