Bellevue posts $2.18m profit

Bellevue Gold's positive start to the week has continued, after it posted a $2.18 million net profit after tax for the first six months of the 2024 financial year.

This news follows on from yesterday's announcement that the company's monthly production in February was up 28 per cent from January, which is likely to ensure the gold miner reaches its predicted 2024 annual production guidance of 75,000-85,000 ounces.

Shares in the Darren Stralow-led company climbed by 10.3 per cent, closing trade at $1.60 per share. Bellevue ended Wednesday at $1.57 per share, down 2 per cent.

Aside from its positive NPAT result, Bellevue's revenue hit $49 million during its first half, following the first pouring of gold at its flagship Bellevue gold project - located 40km from Leinster in Western Australia's Goldfields region - in October last year.

During its recent production update, the gold miner said it was likely to benefit from enhanced active work areas, along with additional development levels to its underground production operations. 

On Wednesday, state mines and petroleum minister David Michael attended the formal opening of the project, and praised the company for their commitment to the region. 

"I commend Bellevue Gold for working closely with the Tjiwarl Aboriginal Corporation to deliver mutually beneficial outcomes, and for committing to ongoing engagement," Mr Michael said.

"It is also encouraging to see the Bellevue gold project aim for net zero emissions as WA's resources sector will play a key role in the state's transition to a low carbon economy."