Bellevue Gold Limited (ASX:BGL) Production and Guidance Update
Production and Guidance Overview
Bellevue Gold Limited (ASX: BGL) reported preliminary production results for the December 2024 quarter. The company achieved gold sales of 26,230 ounces at an average sale price of A$3,339 per ounce. Full details on all-in sustaining costs (AISC) will be disclosed in the quarterly report due in late January 2025.
For fiscal year 2025, Bellevue has adjusted its gold production guidance to 150,000 to 165,000 ounces, primarily due to a focus on production growth in the latter half of the year. The company anticipates approximately 90,000 ounces in the second half of FY25. On an annualised basis, this reflects the upper end of their original guidance range.
Operational Insights
The December quarter’s gold production was impacted by lower grades as mining progressed through peripheral ore areas towards the core of the deposit. While lower grade yields were noted in areas such as Armand and Marceline, high-grade production continued in the Deacon area. Improvements in grade are expected as operations shift into lower geological complexity zones in the second half of FY25.
Development rates in mining areas averaged around 270m per jumbo per month, hampered by increased production interactions and equipment downtime. Nevertheless, Tribune area’s development progressed well, achieving over 300m in December 2024.
Processing Efficiency
The company’s processing plant achieved a strong operational run rate of approximately 1.1 million tonnes per annum during the quarter, with an impressive recovery rate of about 95% noted in December. Bellevue will provide further specifics regarding its AISC guidance in the upcoming quarterly report.
In closing comments, Managing Director and Chief Executive Officer, Darren Stralow, stated, “We remain focused on achieving our annual production targets while navigating through the challenges posed by ore sequencing.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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