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Bellevue Gold Ltd completes 69% construction of namesake gold project in WA

Bellevue Gold Ltd (ASX:BGL) has completed 69% of the development at its namesake play in Western Australia, where production is on track to begin in the second half of 2023.

In a progress update, the company aiming to become Australia’s first ASX-listed net-zero gold miner said the project was fully funded, with $277.3 million of liquidity as of September 30, 2022.

Pre-production expenditure stood at about 90% contracted while long lead items have been ordered.

The total stockpiles at the time of plant commissioning are expected to exceed 200,000 tonnes at more than 5 g/t gold, significantly de-risking early production.

The following are excerpts of the project status as of November.

Construction progress

  • GR Engineering Services fully mobilised and advancing construction activities.
  • Bulk earthworks completed.
  • Detailed earthworks complete for all critical path areas.
  • Structural concrete commenced.
  • Critical path early lead items under manufacture with key components beginning to arrive in Perth.

Mining and development

  • Develop Global Ltd Mining fleet updated with new equipment landed on site.
  • 6.7 kilometres of underground development completed on-site to date.
  • Second jumbo commenced October, third arriving January 2023.
  • Ore driving to commence at Armand this month.
  • Third jumbo to commence on-site in January 2023.
  • Delta vent – ventilation on demand installed – industry-leading technology.
  • Raisebore contractor on site, drilling commenced.
  • Underground grade control underway.
  • Open pit mining at the Vanguard pit is set to commence in the third quarter of the 2023 financial year targeting about 100,000 tonnes at more than 3.5 g/t gold of ore delivered to the stockpile.

Mine camp

  • The 343-room camp is complete and operational.
  • Designed for worker comfort with dependable phone reception, high-speed internet, large modern gym, sports court and other recreational facilities, rooms are 20% bigger than the industry standard.

To read the full progress report, click here.

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