Five-Year Expansion Strategy and Capital Raising

Bellevue Gold Limited (ASX: BGL) has announced a 5-Year Growth Plan to increase production to 250,000 ounces per annum by FY28 while reducing all-in sustaining costs to AU$1,500–1,600 per ounce by FY29. The Company successfully transitioned the Bellevue Gold Project from discovery to production within six years, achieving operational free cash flows of AU$41 million in the June 2024 quarter with guidance set at 80,000 ounces for 2H FY24. A fully underwritten AU$150 million institutional placement will partially repay its Project Loan Facility, unlocking operating cash flows to self-fund the growth plan. The estimated investment in exploration for FY25 and FY26 is AU$60 million, targeting 1.5 to 2.5 million ounces at 8-10 g/t gold. Bellevue intends to offer eligible retail shareholders the opportunity to participate in a Share Purchase Plan to raise up to AU$25 million.

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