Join our daily newsletter At The Bell to receive exclusive market insights
Bellevue Gold (ASX:BGL) has bumped down production guidance for FY25 and removed reference to a revised all-in cost (AISC) until later in January.
But the news isn’t all bad – at least in the Western Australian company’s eyes.
Bellevue’s production in the second half of FY25 – January to July this year – is set for 90Koz, which if you double it, equals 180Koz, the original upper ceiling for FY25 production.
That wasn’t enough to convince investors though, many of whom headed for the door after the guidance report. Bellevue shares took a -13% hit in the first half hour of trade, falling to $1/sh from $1.15/sh at open.
Guidance was bumped down by 25Koz, meaning Bellevue’s updated FY25 production now sits at 150Koz – 165Koz; the former minimum is now the upper ceiling.
Likely further souring sentiment is that the downgrade was coupled with the information Bellevue’s Q4 CY24 production was hit by lower grades from ore.
Bellevue’s diagnosis: The result of extracting from the outer regions of a target orebody on the way to a higher grade zone.
“Increased geological variability was encountered,” Bellevue wrote, but noted the Deacon asset of interest, flush with a high-grade stope, remains the priority target.
“Grade improvements are expected in the second half of FY25.”
BGL last traded at $1.00/sh.
Join the discussion: See what HotCopper users are saying about Bellevue Gold and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
