Bellevue bullish on production

A cashed-up, emerging producer intent on bringing an historic mine near Leinster back into production hopes it will be close to mining the project this time next year (reports The West Australian).
16th October 2020
Resources Rising Stars

A cashed-up, emerging producer intent on bringing an historic mine near Leinster back into production hopes it will be close to mining the project this time next year (reports The West Australian).

Bellevue Gold yesterday used its pitch at the Diggers & Dealers Mining Forum to spruik the high-grade nature and low-cost capital outlay it would need to bring its namesake project into production.

That came after the Steve Parsons-led company early in the year toasted a $135 million capital raising after revealing an indicated resource at the project of 860,000 ounces, grading at an enviable 11.8g per tonne.

It marked a watershed moment for the aspiring goldminer that currently boasts a market capitalisation of $1 billion.

Speaking on the sidelines of the conference after his presentation, Mr Parsons yesterday said Bellevue had made significant progress.

“A year ago I think we had around about million ounces of gold and here we are now and here we are with 2.3Moz,” he said.

“The amazing thing is we are standing 275m down the decline that nobody has been down for 30 years.”

Bellevue made a decision at the start of the year to start early works development at the project.

Mr Parsons said the company’s rapid progress meant he was hopeful the project would be going into mining this time next year.

“I will be hoping to show the same amount of resource growth that we’ve been having for the last 12 months — and we certainly have the budget to do that with $35m being spent in the ground,” he said.

“I would be expecting to see the mill being starting to be built and things like that, and I expect us to be very close to being at first ore this time next year.”

An economic study for the project is expected early next quarter.

 

Image: Bellevue Gold 

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