https://newsletter.mw.creamermedia.com
Exploration|Financial|Flow|Gold|PROJECT|Underground|Flow
Exploration|Financial|Flow|Gold|PROJECT|Underground|Flow
exploration|financial|flow-company|gold|project|underground|flow-industry-term

Bellevue reports maiden net profit

2nd September 2024

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Bellevue Gold has announced a maiden net profit after tax of A$75-million for the year ended June 30.

The result follows a successful year which saw the company commission its Bellevue gold mine, in Western Australia, with commercial production declared in May.

Bellevue generated free cash flow of A$41-million in the June 2024 quarter from production of 42 705 oz.

“This demonstrates the substantial cash flow generating capacity of the project as we grow production and reduce unit costs in the process.

“With the recent successful capital raising enabling us to reduce debt significantly, freeing up cash flow to help fund growth, we are very well-positioned to increase production, cash flow and mine life,” said MD Darren Stralow.

In July, Bellevue announced its five-year growth plan under which production is forecast to increase to 250 000 oz/y by the 2028 financial year, materially growing the earnings and production profile and reducing the project all-in sustaining cost (AISC) profile to A$1 500/oz to A$1 600/oz in 2029.

The company’s guidance for the 2025 financial year is 165 000 oz to 180 000 oz at an AISC of A$1 750 to A$1 850/oz, with the production expected to be back-ended to the second half of 2025 as further development headings and underground advance rates ramp up to a forecast run rate of 1.35-million tonnes a year by the end of 2025.

Exploration expenditure of $30-million has been budgeted for each of 2025 and 2026 to drill-test the exploration target of 1.5-million to 2.5-million ounces at 8 g/t to 10 g/t gold to the south of the deposit.

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.093 0.176s - 127pq - 2rq
Subscribe Now