Bellevue Gold (BGL) 2025 Precious Metals Summit - Beaver Creek summary

Operational achievements and ramp-up

• Achieved mine development from discovery to production in under six years, with less than two years in production so far.

• All major infrastructure is under three years old and designed for long-term operation.

• Overcame early challenges such as heavy rain and restricted underground access in FY2025.

• Underground mining crews, equipment, and infrastructure are now fully established, supporting higher development rates.

• Processing plant upgrades have led to consistent gold recovery rates above 95%.

Production outlook and financial position

• FY2025 saw 130,000 ounces sold, with FY2026 guidance of 130,000–150,000 ounces as the mine transitions to higher-grade areas.

• Entering FY2026 with a strong balance sheet and 150,000 ounces hedged.

• Cash flow and profitability are expected to rise as mining shifts to high-grade, low-complexity zones like Deakin North.

• Mine design and scheduling extend into the mid-2030s, supporting long-term consistent production.

Resource development and exploration

• Three million ounces discovered to date, with significant potential for further resource growth as new drill platforms are established.

• Grade control drilling is advancing at 4,500 meters per week, with five underground rigs delivering strong results.

• New high-grade zones such as Deakin North and Viago are being targeted for future production increases.

• Downhole EM targets identified on all key lodes, with drilling access planned within 12 months.