Gold miner BGL has been rerated over the last 12-months even while the sector trod water as their processing plant and surface infrastructure remains on track for Dec Q commissioning. BGL is nearing the finish line, it's well-resourced and fully funded ($64m cash and $70m debt to draw) to execute, hence we like BGL into 2024 and beyond, especially when compared to many in the sector, but we are conscious this could be a quasi-example of “buy on rumour” sell on fact with relative performance likely fall back into line with the sector as production commences.
Bellevue Gold Limited is an Australia-based company, which is engaged in the exploration and evaluation of minerals in Western Australia. The Company’s projects include Bellevue Gold Project, Yandal Project, and Kathleen Valley Project. The Bellevue Gold Project is located in the northern part of the Norseman-Wiluna Greenstone belt in the Yilgarn Craton, Western Australia. The project is approximately 40 kilometer (km) north from the regional center of Leinster and covers 1,930 square kilometers of mining and exploration licenses. The Yandal Project is located approximately 40 miles to the east of the Bellevue Gold Project. The Kathleen Valley Project is located immediately to the north of the Bellevue Gold Project and covers approximately 20 km along strike from the Bellevue Mine. The Company is advancing underground development and surface infrastructure at the project in tandem with resource extension and conversion drilling activities.
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