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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bullabulling | BGL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 4.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.25 | 4.25 |
| Top Posts |
|---|
Posted at 24/4/2024 19:18 by stu31 ASX Announcement18 April 2024 March 2024 Quarterly Report Bellevue makes strong start to free cash generation as production ramps up to plan Normalised free cashflow1 of $20m for the quarter highlights the project’s capacity to generate significant free cashflow as it moves towards steady-state production Operations • Production ramp up firmly on track with total production of 37,338oz in March 2024 quarter; Guidance maintained at 75,000-85,000oz for six months to 30 June 2024 • Strong performance across all key metrics, with production growth driven by higher ore grade as underground mining continues to deliver increasing stope tonnages to the mill • In March 2024, processing head grade was 5.8 g/t gold with 56.3kt stope tonnes mined; Importantly, the development head grade was 9.2 g/t gold in the month, highlighting the outlook for further higher-grade stoping production in the June 2024 quarter • Plant throughput maintained at 1Mtpa nameplate capacity in the quarter with an average of 86k tonnes of ore milled per month • On track to declare commercial production in the June 2024 quarter with full-year FY25 production and cost guidance expected to be published soon after • Gold poured was 36,881oz and gold sold totalled 32,893oz, with 13,721oz poured in March 2024 • All five independent mining areas accessed from the Paris Portal are currently being mined, with stoping underway at Upper & Lower Armand, Marceline, Deacon Main and Bellevue South Corporate • Free cash generated in February and March, setting up Bellevue for declaration of commercial production during the June 2024 quarter (see Figure 1) • Production of 37koz generated normalised free cashflow1 of ~$20m for the quarter; continued production ramp up sets platform for significant growth in free cash flow in June 2024 quarter • Creditor payments up to date and in accordance with payment terms, after payment of ~$18m early in the March 2024 quarter relating to 2H CY23 ramp up (including ~$4m of pre-production infrastructure costs) 1 Free cash flow calculated as the sum of operating and investing cash flows, plus or minus the movement in opening and closing gold dore and bullion value (at closing quarter end gold price). March 2024 quarter normalised for amounts paid in January and February 2024 that related to H1 FY24 (~$18m, including ~$4m of pre-production infrastructure costs), such adjustments not expected in subsequent quarters. Refer to Figure 1 on page 6. • Total liquidity of $40m at the end of the March 2024 quarter, after paying ~$12m of nonrecurring pre-production infrastructure costs (inclusive of the ~$4m related to 2H CY23) and $10.4m of debt servicing ($4.8m interest and first debt principal repayment of $5.6m) • Non-recurring pre-production infrastructure costs paid for in the March 2024 quarter included ~$2m for the Tribune box cut/open pit and ~$10m of construction capital, including payments for 2 primary vent fans ($4m) • The Bellevue Gold mine was officially opened on 13 March 2024 by the Western Australia Minister for Mines and Petroleum Hon. David Michael Geology • Exceptionally high-grade ore shoot defined at 1.4Moz Deacon Main lode with assays significantly higher than those in the Resource estimates used for mine planning; Stoping of this area is expected to commence this quarter • This shoot is similar to the high pyrrhotite ore shoots mined historically at Bellevue and is characterised by exceptional grade and continuity and remains open down plunge. Results include2: o 10.8m @ 66.8 g/t gold o 14.0m @ 49.4 g/t gold o 8.9m @ 71.1 g/t gold o 8.4m @ 50.1 g/t gold o 7.5m @ 49.8 g/t gold o 9.5m @ 35.4 g/t gold • Drilling also highlighted potential for another six high-grade shoots in the greater Deacon Main area with the broad-spaced high pyrrhotite drill intersections containing similar characteristics to the newly identified shoot. Results include2 : o 30.2m @ 11.33 g/t gold (including 2.7m @ 61.6 g/t gold and 6.9m @ 21.5 g/t gold) o 8.7m @ 34.4 g/t gold o 8.1m @ 16.0 g/t gold o 4.8m @ 55.7 g/t gold o 3.6m @ 53.1 g/t gold o 4.1m @ 24.2 g/t gold o 3.0m @ 28.0 g/t gold • Another underground rig is being mobilised to expedite Deacon Main infill drilling Renewable energy initiatives • Thermal power station construction is well advanced and modules for the first 20MW solar farm are now installed, with commissioning expected to be completed during the June 2024 quarter, a further 7MW of solar capacity is forecast to be completed in Q1 FY25 • Construction of wind power turbines expected to begin mid-CY24 in line with the Company’s aspirational goal to achieve net-zero emissions by 2026 2 For drilling results refer to ASX announcement dated 19 March 2024. Bellevue Managing Director Darren Stralow said: “Our highly successful mining and production ramp up has enabled us to make a very strong transition to free cash generation. “The production ramp up is proceeding to plan, with tonnages and mill throughput rates well on budget. And now we can see that the grade is hitting the mark too. “The free cash we generated as production ramped up over the course of the March quarter highlights the huge cashflow generating capacity of this project as we move towards steady-state production and unit costs come down accordingly. “We are comfortably on track to meet our production guidance of 75,000-85,000oz for the six months to June 30, generating increased free cashflow in the process and paving the way for the declaration of commercial production in the coming quarter”. Operations Safety Bellevue Gold Limited (Bellevue or Company) (ASX: BGL) had zero LTIs recorded for the reporting period. Gold production continues to build month on month With the process plant maintaining steady state throughput; month on month gold production continued to increase throughout the reporting period driven by increasing grade. Underground mining has started to see the benefits of the multiple work areas and access to higher grade areas with the mined grade increasing ~50% relative to the December 2023 quarter to 6.0 g/t gold. Total underground ore tonnes have also continued to increase 17% quarter on quarter with further improvement in underground ore tonnes forecast into the June 2024 quarter. |
Posted at 18/3/2024 23:07 by stu31 ASX Announcement19 March 2024 Discovery of extremely high-grade shoot bolsters early production plan Assays of up to 374 g/t gold show the grade of this new shoot will significantly exceed the Resource estimate in the area; Drilling also highlights potential for six more similar shoots Key Points • Exceptionally high-grade ore shoot defined at 1.4Moz Deacon ore body with assays significantly higher than those in the Resource estimates used for mine planning (see Figure 4) • This shoot is similar to the high pyrrhotite ore shoots mined historically at the nearby Bellevue lode and is characterised by exceptional grade and continuity and remains open down plunge • The recent results, which are close to true width (~80%), include: o 10.8m @ 66.8 g/t gold o 14.0m @ 49.4 g/t gold o 8.9m @ 71.1 g/t gold o 8.4m @ 50.1 g/t gold o 7.5m @ 49.8 g/t gold o 9.5m @ 35.4 g/t gold o 7.8m @ 33.7 g/t gold o 10.6m @ 24.7 g/t gold o 8.4m @ 29.9 g/t gold o 5.6m @ 39.1 g/t gold o 3.2m @ 59.4 g/t gold o 0.5m @ 374.0 g/t gold o 6.9m @ 25.4 g/t gold o 2.2m @ 72.4 g/t gold o 7.3m @ 21.1 g/t gold o 4.1m @ 35.1 g/t gold o 4.5m @ 26.2 g/t gold • Drilling has also highlighted potential for another six high-grade shoots in the greater Deacon Main area (see Figure 7), with recent broad-spaced high pyrrhotite drill intersections containing similar characteristics to this newly-identified shoot. Results include: o 30.2m @ 11.33 g/t gold (including 2.7m @ 61.6g/t gold and 6.9m @ 21.5 g/t gold) o 8.7m @ 34.4 g/t gold o 8.1m @ 16.0 g/t gold o 4.8m @ 55.7 g/t gold o 3.6m @ 53.1 g/t gold o 4.1m @ 24.2 g/t gold o 3.0m @ 28.0 g/t gold • In light of these results, another underground drill rig is being mobilised to expedite Deacon Main infill drilling Bellevue Gold Limited (Bellevue or Company) (ASX: BGL) is pleased to report that recent infill drilling at Deacon Main has delineated a major high-grade ore shoot in the near-mine schedule. Bellevue Managing Director Darren Stralow said: “These results replicate what the Bellevue Mine was historically known for: very high-grade gold contained in short strike structures. “With infill results significantly out-performing the Resource estimate in the area, this high-grade ore will supplement the early mine plan and ensure that we continue to see strong grade and solid production results as we ramp up to full-scale production. “While this area has the potential to provide upside to the near-term mine plan, we’re also excited about the multiple analogous targets along the Deacon Shear which we can target with further underground drilling as drill platforms become available”. |
Posted at 13/3/2024 16:54 by stu31 ASX Announcement 12 March 2024Ramp-up on schedule with 13,364oz produced in February 2024 Head grade and processing throughput ensure Bellevue is on track to meet guidance of 75,000-85,000oz for June half of FY24 Key Points • Gold production continues to ramp up; Production totalled 13,364 ounces in February 2024 at a head grade of 5.2g/t gold • Strong processing performance across the crushing and milling circuit; Nameplate throughput achieved again in February 2024 for the third consecutive month • Stoping grade continues to reconcile well with the modelled project assumptions • The benefits of increased active work areas and further development levels for underground production are expected to be realised for the remainder of FY24, with stoping ore as a percentage of mill feed forecast to increase to steady-state during the June 2024 quarter • Production guidance for the six months to 30 June 2024 is maintained at 75,000-85,000oz. Achieving this guidance is forecast to continue to generate positive free cash flow (with cost guidance to be announced following declaration of commercial production) Bellevue Gold Limited (Bellevue or Company) (ASX: BGL) is pleased to announce that its gold production continues to rise, underpinned by underground stoping ore and higher grades. Bellevue Managing Director Darren Stralow said: “Our production ramp up continues to improve month on month. “It is very pleasing to see milling nameplate throughput achieved for a third straight month as we progress towards steady state operations. This resulted in production of 13,364oz in the month of February 2024 and ensures we are well on track to meet our guidance for the six months to 30 June 2024 and generate free cash flow. Production Update Mining and gold production in February 2024 has continued to increase. Gold production totalled 13,364 ounces at an average head grade of 5.2 g/t gold. February’s production figure represents a 28% increase in gold production from January 2024. Underground development and stoping rates continues to ramp up. Mine to mill reconciliation remains on target with the Mineral Resource Estimate (MRE), with stope performance including dilution and overbreak performing to expectations. The focus remains on increasing the stoping rate to steady-state which is expected to deliver further increases in grade to the mill as the underground mining rate matches the plant throughput. The Company expects to see the benefits from the establishment of multiple mining areas and development levels for underground mining production during the remainder of the FY24. All five underground mining areas are now actively in ore development or stoping with the first stoping ore delivered from Deacon Main during the month. Mill performance has continued to achieve or exceed the nameplate 1.0Mtpa processing rate for the third consecutive month. The Company released guidance in January 2024 targeting production of 75,000-85,000 ounces for the six months to 30 June 2024 and remains on track to achieve this. Achieving this guidance is forecast to continue to generate positive free cash flow (with cost guidance to be announced following declaration of commercial production, which is expected to occur during the June 2024 quarter) |
Posted at 26/8/2014 08:11 by xclusive2 TDW have had a nightmare with my BGL shares !! Cashing up my Aussie $ avccount when i want it left in $, closing my ISA when i have other stocks invested in it, wrong amount on cheque, still no payment on BAB shares ?What a shower !! |
Posted at 07/7/2014 11:05 by temujiin Pongo, I had a long word with HSBC and they are reading from their last notification form NGF in June which gives two option, 1. accept 7c, 2. or accept 8c conditional which expires end of June. They are saying as the offer for 8c has expired you can only accept the 7c offer. However we all know that NGF have increased the offer to 8c as they got 30% of BGL. NGF haven't said you'll only get '8c if you are the ones who accepted before 30th June.' It's a blanket increase for all BGL shares whether or not you accepted in June or now. I've sent a quick email to Norton to confirm but I can't see how it can be anything other than 8c equivalent for everyone. Settlement is 14 business days afaik. |
Posted at 27/6/2014 12:25 by temujiin Quite right Smarty, you have a rant if you want to :)I think it's clear Bullabulling will go to production, question is will it be Norton owned or BGL owned? I like the fact NGF want BGL, I like the fact NGF are experts in this type of field and that Zijn have the $ muscle to get it into production. I also like that NGF will be a substantial SH but atm are falling well short of having any control. I also like that ''The largest shareholders appear to be rejecting the Norton bid'' as are the majority of pi's. Dilution to pay excessive bonus's or a new exec toilet is a problem. Dilution isn't a problem if it's to increase the value of our asset. 20% dilution is well worth it to reach DFS imo. The game is still on with no single group holding all the cards, however I'd say BGL are looking in a stronger position now than when the bid 1st came out, and seemingly still having pi & ii support. |
Posted at 20/6/2014 12:18 by temujiin As things stand NGF wont get a seat on the board, but as they clearly are a company that wants to be involved in our goldfield it is imo likely that BGL and NGF co-operate. I still maintain NGF want a much higher stake in BGL than they are likely to get but it's good investors haven't caved in to the fisrt shoddy offer. NGF are going to be sniffing around for months to come imo and I hope they push the share price higher and get to a point where they do get BoD reppresentation, 35% perhaps, but short of having a disruptive influence. BGL's journey is getting interesting :) |
Posted at 20/6/2014 07:47 by temujiin 18.73%, no where near good enough to reach 30%. NGF have added 12% since the start over two month ago and need over 11% in 6.5 trading days. It's looks definitely Dooomed, but NGF will be our largest SH with approx 20% and one would think they will be professional and business like, take this defeat on the chin and either come back with a decent offer or work with BGL to see this massive progect through to a successful conclusion. IMO anything less than 30% means NGF wont be comfortable about preventing another bidder at somepoint taking over BGL with a substantial offer. At 20% they know BGL are still an easy target for someone less tight fisted. I think they will continue buying after the offer to at least 35% to discourage others and secure BGL from future preditors. |
Posted at 17/6/2014 21:12 by temujiin Just some musing while I watch the Brazil match. Here's how I see the next month. Zijn/Norton will imo totally fail to secure anything like 30%of BGL. I'm sure they know this as well, they may get to 20%(?). The offer may or may not be extended on 16th July but it makes no odds then as BGL can and will have a 15% dilution /placing at possibly 3.5p(?) bringing in maybe £1.83m/A$3.25m. SP may drop between to 3.5p - 3.9p but Zijn will support share price as they try to acquire cheap stock on the open market. BGL will continue to prove the viability and desirability of it's 2.5m 3m oz gold Reserve. share price will imo rise way above Zijn's 3.9p offer price as cash costs come down and the DFS get's closer. Further out is harder to guess but BGL and Zijn may co-operate, another bidder may make a seriously decent offer for BGL, or BGL may support a friendly merger. |
Posted at 11/5/2014 10:42 by temujiin Thought I'd tap out a few thought while avoiding going to the gym. After 3 weeks I believe even more that NGF have handled this attempted TO very badly. They pitched at a stupidly low level that was never likely to succeed given the asset and recently announced progress. If they had offered 6p, then I think they'd have avoided a lot of criticism and possibly have achieved a 25% take up. Anyway we and they are where we are. I'm obv very curious about how this will play out. I think NGF have talked themselves into an awkward position. They clearly want BGL, but have indicated publically and in the Bidders Statement that they don't see BGL as worth much more than they have offered. SH's noticeably disagree, so how can NGF offer a figure that would convince 50% to sell without embarrassingly offering double or triple what they have, and consequently looking rather stupid for the initial statements and offer. I don't think they can or will make a much higher offer, maybe 11c max imo which may get 20 25%, so BGL is likely to survive largely unchanged by this TO but have less retail SH's and possibly a large stakeholder that has essentially and eventually secured most of BGL for itself, and that will most likely work with Brett to the benefit of all remaining retail SH's. It was interesting Brett reportedly was complimentary towards NGF's CEO Mr Chen at the recent Proactive meeting. Possibly realising they will be working together at some point. Maybe I'm being too optimistic but NGF's initial low ball derisory offer may eventually help unlock the goldmine for us all!? Interesting couple of months ahead. Right, time for the gym. |
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