Bellevue Gold Ltd (ASX:BGL) directors have demonstrated their confidence in the company's gold strategy with the purchase of shares in on-market transactions.
Managing director Stephen Parsons acquired 300,000 shares, non-executive chairman Kevin Tomlinson acquired 140,000 shares and executive director Michael Naylor purchased 130,000 shares.
Lastly, non-executive director Fiona Robertson acquired 39,730 shares.
BGL set to generate strong profits
The company’s stage one feasibility study has found that its Bellevue Gold Project in Western Australia is expected to be ranked amongst Australia’s top-25 gold mines based upon annual production.
Based on the study, the company is set to generate an annual pre-tax free cash flow of A$190 million over seven years of commercial production with a life-of-mine revenue of A$2.5 billion.
BGL is also forecast to be one of the most profitable gold companies in Australia based on a life-of-mine (LOM) EBITDA margin of 63%, based on a gold price of A$2,300 per ounce.
A stage two study, incorporating the impact of the latest discoveries and additional mineralisation on production, profitability, and mine life is on track for completion in June.