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Bellevue Gold Limited (ASX:BGL)

ALERT: Price-sensitive ASX Announcement for BGL
Current share price for BGL : $1.390 -0.04 (-2.80%)+
Announcement
Release
20 Oct 2026 8:14AM
Price at Release
$1.430
Full Release
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Summary
Bellevue Gold Limited’s September 2026 Quarterly Activities Report for the Bellevue Gold Project in Western Australia reported quarterly gold production of 35,585 ounces and gold sales of 35,979 ounces at an average realised price of A$4,980/oz, with project AISC of A$3,096/oz, reflecting a slower-than-expected ramp-up by new underground mining contractor Barminco following the August 2026 transition, although mined and processed grades remained consistent at 4.7g/t and 4.6g/t respectively and FY27 guidance was maintained at 150,000–170,000 ounces and A$2,800–A$3,100/oz AISC; ore mined totalled 203,013 tonnes, ore processed 250,702 tonnes, metallurgical recovery was 94.9%, and paste plant construction remained on schedule for commissioning in mid-FY27, while finance results showed underlying free cash flow before voluntary hedge pre-deliveries of A$47.6 million, free cash flow after pre-deliveries of A$8.9 million, and cash plus gold on hand of A$213.2 million, with hedge commitments reduced by 11,150 ounces to 57,500 ounces and targeted for full elimination during FY27; exploration delivered strong Deacon North infill drill results including 9.3m @ 62.1g/t gold and identified additional potential at Westralia and Tribune South, while the company also updated total Mineral Resources to 9.8Mt at 8.6g/t for 2.7Moz and Ore Reserves to 6.8Mt at 4.5g/t for 1.0Moz, and highlighted sustainability achievements including average renewable energy use of 75.2% for the quarter and selection to supply gold for the regilding of St Paul’s Cathedral in London.
Key Points
  • September 2026 quarterly gold production was 35,585 ounces and gold sales were 35,979 ounces.
  • Average realised gold price was A$4,980 per ounce and project AISC was A$3,096 per ounce.
  • The transition to new mining contractor Barminco was completed on 1 August 2026, but ramp-up was slower than expected.
  • FY27 production guidance remained unchanged at 150,000 to 170,000 ounces.
  • FY27 project AISC guidance remained unchanged at A$2,800 to A$3,100 per ounce.
  • Ore mined totalled 203,013 tonnes at 4.7g/t gold and ore processed totalled 250,702 tonnes at 4.6g/t gold.
  • Metallurgical recovery averaged 94.9% for the quarter.
  • Paste plant construction remained on schedule, with commissioning targeted for mid-FY27.
  • Underlying free cash flow before voluntary hedge pre-deliveries was A$47.6 million.
  • Free cash flow after hedge pre-deliveries was A$8.9 million.
  • Cash and gold on hand increased to A$213.2 million at 30 September 2026.
  • Forward gold sales commitments were reduced to 57,500 ounces and Bellevue targeted full hedge book extinguishment in FY27.
  • Deacon North infill drilling returned high-grade results including 9.3m @ 62.1g/t gold and 8.9m @ 31.0g/t gold.
  • Westralia drilling and downhole electromagnetic surveying identified promising anomalies.
  • Development of the Southern Belle Decline created drill platforms to extend drilling into Tribune South.
  • Updated Mineral Resources were 9.8Mt at 8.6g/t gold for 2.7Moz.
  • Updated Ore Reserves were 6.8Mt at 4.5g/t gold for 1.0Moz.
  • Renewable energy averaged 75.2% for the quarter at the Bellevue Gold Project.
  • Bellevue was selected to supply gold for the regilding of St Paul’s Cathedral in London.
  • The company recorded no Lost Time Injuries during the quarter, reducing the 12-month rolling LTIFR to 2.0.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.