Growth strategy under way for Bellevue

Bellevue Gold’s push to produce 250,000 ounces per annum by the 2028 financial year is another step towards becoming a reality.

The West Perth-based gold miner, which has a market cap of $1.45 billion, told the market that underground decline development work had begun at the Tribune portal, situated within its Bellevue gold project near Meekatharra. 

Managing director and chief executive officer Darren Stralow said with the establishment of a second independent mine access route, the company will have a greater platform to increase its overall production.

“We are already seeing the benefits of increased ventilation and work areas in our underground mining rates, and the successful dewatering of the old workings unlocks high grade ore to mine in the upcoming quarters that was previously inaccessible,” he said.

The company said its underground development rate would likely raise throughout the first half of the 2025 financial year, due to more working areas being available, with production to be back ended during the second half.

Last week, the gold miner announced it had posted a net profit after tax of $75.4 million for the 2024 financial year, 

It has also earmarked an annual production guidance of 165,000-185,000 ounces of gold for the 2025 financial year.

As of 11.36am WST, Bellevue shares were trading at $1.13.