Bellevue Gold (ASX: $BGL) June 2024 Quarterly Report

Bellevue Gold Limited (ASX: $BGL) has reported a successful June 2024 quarter, meeting its production guidance and generating $41 million of free cash flow. The company achieved a quarterly production of 42,705 ounces, with total liquidity of $76 million as at 30 June 2024. The strong drilling results at the Deacon lode point to growth in high-grade shoots, indicating a promising future for the company's operations.

Executive Commentary

Bellevue Managing Director Darren Stralow stated, 'It was a successful quarter in which we ramped up production in line with our plan, met guidance and generated strong free cash flow. Underground tonnes increased in line with the plan, and the processing plant is performing strongly. We are now well into the expansion study, which is aimed at leveraging the infrastructure we now have in place and enabling us to unlock the full value of the Bellevue asset. We look forward to providing multi-year guidance later this month.'

Summary

Bellevue Gold's June 2024 Quarterly Report demonstrates the company's ability to meet production guidance and generate significant free cash flow. The successful ramp-up of production, strong drilling results at the Deacon lode, and the emphasis on low capital intensity growth through the expansion study indicate a positive outlook for the company. With the declaration of commercial production and the ongoing renewable energy initiatives, Bellevue Gold is on track to achieve its aspirational goal of net-zero greenhouse gas emissions for the Bellevue Gold Project by 2026. The company's multi-year outlook, expected to be released later this month, will provide further insights into its ambitions and goals for the future.