Bellevue Gold (BGL.AX) has provided the market with an update on its namesake Bellevue gold mine in Australia. The company produced a total of 26,230 ounces of gold in the fourth quarter of calendar year 2024. That’s a bit lower than expected as the output was affected by the lower grade rock as the mine sequences progressed through the outer edges of the ore body, moving towards the higher-grade zones. The company has now lowered its full-year production guidance to 150,000-165,000 ounces of gold, which implies the total gold production in the second half of its financial year (the first half of the calendar year 2025) will be approximately 90,000 ounces (as grades will pick up again). Given the lower production guidance, Bellevue Gold may also have to revise its AISC guidance upwards.
Bellevue remains committed to reaching an annualized production rate of in excess of 200,000 ounces of gold per year from the June 2025 quarter on which means the company should be firing on all cylinders from FY 2026 on.
Disclosure: The author has no position in Bellevue Gold. Please read the disclaimer.
