Bellevue Gold shares shine with $26.5m placement

27th March 2020
Resources Rising Stars

Bellevue Gold has raised $26.5 million in a share placement at 30¢-a-share, a 7.7 per cent discount to its last price (reports The West Australian).

The Steve Parsons-led company said the proceeds would be used to fund ongoing infill and resource extension drilling at its Bellevue gold project in WA, where it has inferred resources of 2.2 million ounces at 11.3 grams per tonne, and economic studies.

Bellevue is scheduled to release its maiden indicated resource next quarter.

“The proceeds ensure we have ample cash to continue unlocking the value of this project through infill and resource growth drilling while also undertaking the economic and technical studies which should pave the way for development and production,” Mr Parsons said.

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