Bellevue Gold, Genesis ink processing deal

Bellevue Gold has struck a deal with Genesis Minerals to process material from its goldmine's Vanguard open pit at the latter's Gwalia facility.

West Perth-based Bellevue Gold told the ASX today it had signed an agreement for a wholly owned subsidiary of Genesis Minerals to process material from the Bellevue goldmine, particularly from the Vanguard open pit.

Under the agreement, Genesis Minerals will process open-pit material in the September 2023 quarter ahead of plant commissioning at Bellevue in the next quarter.

“This toll treating agreement will see Vanguard ore processed at Genesis’s Gwalia processing facility, approximately 170 kilometres south of the Bellevue goldmine via the sealed Goldfields Highway,” Bellevue Gold said on the ASX.

“Under the agreement, open-pit material will be transported by MLG Oz Limited to Genesis’s Gwalia processing facility.

“Approximately 100,000 tonnes of ore, with an average grade of approximately three grams per tonne gold, is planned to be processed as part of this agreement.

“The execution of the toll treating agreement will be [net present value] accretive to the project overall as the open pit material would otherwise remain on the stockpile until later in the mine life.”

The Vanguard pit is being mined and stockpiled during the pre-production period at the Bellevue goldmine, which is in Leinster in the northern Goldfields.

“Construction of the Bellevue processing facility continues on schedule and on budget … with the plant expected to be ready for commissioning with underground ore in the December 2023 quarter,” Bellevue Gold said in its ASX statement.

“Underground mine development also remains firmly on track with the fourth and final jumbo rig now on site and being commissioned.”

Bellevue Gold said trucking and toll treating is expected to be completed in the September 2023 quarter.