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Highlights
- Bellevue Gold reported its first net profit after tax in FY24, driven by the commissioning of the Bellevue gold mine
- The company generated AUD 298.4 million in revenue in FY24
- BGL expects gold production of 165,000-180,000 oz in FY25 and aims to achieve over 200,000 oz annually by Q4 FY25
- BGL targets annual production of around 250,000 oz by FY28
Bellevue Gold Limited (ASX:BGL) is a gold exploration and development company with interest in the development of the Bellevue Gold Project, located in the gold and nickel-producing district of Western Australia. In the financial year ended 30 June 2024, the company recorded its first net profit after tax of AUD 75 million, primarily driven by the commissioning of the Bellevue gold mine in Western Australia. In May 2024, BGL officially declared commercial production.
Furthermore, in FY24, the company generated AUD 298.4 million in revenue and AUD 41 million in free cash flow from production of 42,705oz.
The focus of BGL is on drilling and exploration for resource growth, and advance project infrastructure to assist operational capacity and efficiency.
Production guidance
The company expects to deliver gold production of 165,000-180,000 ounce in FY25 with an AISC of AUD 1,750-1,850 per ounce. A major portion of the guided production will happen in the second half of FY25.
Additionally, the company has shared a five-year growth plan, targeting production of over 200k ounces annually, starting fourth quarter of FY25 and targets around 250k ounces per annum by FY28.
On 9 September 2024, the company shared a production strategy growth update, informing that its strategy is on track marked by advances in project infrastructure. The underground decline development at the Tribune portal was initiated, creating a second independent mine access route.
BGL gaining investor’s trust
Through an ASX-filing dated 24 September 2024, the company notified that Invesco Ltd and its related entities became a substantial holder in BGL with a shareholding of 5.01%, as on 20 September 2024.
Share performance of BGL
BGL shares closed 0.38% higher at AUD 1.325 apiece on 1 October 2024. In the past one year, BGL’s share price has almost lost 6.47%, while in the past three months, the share price has dropped by 28.77%.
52-week high of BGL is AUD 2.1, recorded on 21 May 2024, and 52-week low of BGL is AUD 1.095, recorded on 10 September 2024.

BGL Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 01 October 2024. The reference data in this report has been partly sourced from EODHD/Others.






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