Bellevue Gold Ltd's Shares Reach Decade High on the Back of High-Grade Gold Discovery
Bellevue Gold Ltd (ASX: BGL) has experienced a remarkable surge in its share price, reaching a 10-year high of $1. 64. The company's strong performance can be attributed to its high-grade gold discovery in Western Australia.
At its Bellevue Gold Project, located 40km north-west of Leinster in the Goldfields region, Bellevue Gold has announced a global Mineral Resource of 9. 8Mt @ 9. 9 g/t gold for 3. 1 Moz.
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Additionally, the project boasts a Probable Ore Reserve of 6. 8 Mt @ 6. 1 g/t gold for 1. 34 Moz. These significant figures have propelled the company's share price to new heights.
The Bellevue Gold Project is projected to deliver sector-leading margins, generating A$2. 1B of free cash flow (pre-tax) and an exceptional Internal Rate of Return of 68% (pre-tax), assuming a A$2,500/oz gold price, over the initial 10-year mine life. With the company fully funded and on-track for production in the second half of CY23, Bellevue Gold's future prospects appear promising.
The remarkable growth in Bellevue Gold's share price, surging by over 140% since the beginning of this year, outperforms the ASX 200 index and the gold sector. This performance reflects investor confidence in the company's high-grade gold discovery and its ability to capitalise on the rising demand for gold.
Bellevue Gold's recent achievements firmly position the company as a key player in the gold mining industry. As the company continues to progress towards production, it is expected to maintain its strong market position and potentially unlock further value for its shareholders.
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