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Highlights:
- BGL reports record Q4 free cash flow of AUD 67 million, reversing prior outflow
- Bellevue Gold quarterly production up 55% QoQ to 38,900 oz, with lower AISC of AUD 2,253/oz
- BGL sets FY25 output at 126,139 oz; FY26 guidance expected in early August
Bellevue Gold Ltd (ASX:BGL) shares climbed on Monday after the company released its June quarter results, highlighting improvements in production, cost efficiency, and cash generation. Shares were up 4.1% in morning trade, changing hands at AUD 0.89, after closing the previous session at AUD 0.855. Despite the intraday gain, the stock remains down approximately 21.9% year-to-date, reflecting prior investor concerns over capital expenditure and project development risks.
The June quarter marked a notable operational turnaround for the ASX 200-listed gold miner. Gold production rose 55% quarter-on-quarter to 38,900 ounces, with gold sales up 50.4% to 38,800 ounces. The company achieved an average realised price of AUD 5,147 per ounce and recorded an all-in sustaining cost (AISC) of AUD 2,253 per ounce, down from AUD 3,124 per ounce in the March quarter. Ore mined during the period totalled 290,000 tonnes at an average grade of 4.7 g/t for 43,500 contained ounces. Processed ore reached a new quarterly high of 287,000 tonnes at 4.5 g/t gold, with metallurgical recovery averaging 94.4%. The company noted June recoveries reached 95% following improvements made during a plant upgrade.
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