Bellevue Gold Limited · ASX:BGL
Bellevue Gold — RRS Gold Coast 2024
27 slides from Bellevue Gold's conference presentation, Sep 3, 2024
Slide 1: Real growth from a high-grade WA asset
For personal use only RRS Gold Coast 2024 Real growth from a high-grade WA asset 3 September 2024
Slide 2: Disclaimers & Compliance Statements
Disclaimers & Compliance Statements This presentation has been prepared by Bellevue Gold Limited (ABN 99 110 439 686) (Company or Bellevue) (ASX: BGL) and is authorised by the Managing Director & Chief Executive Officer of Bellevue. DISCLAIMER This presentation has been prepared by the Company based
Slide 3: Disclaimers & Compliance Statements (cont)
Disclaimers & Compliance Statements (cont) Forward-looking All-In-Sustaining Cost estimates have been prepared on a real basis at a project level (i.e. not adjusted for possible future inflation and do not include the effects of corporate costs) and assume an FY25 gold price of A$3,500/oz of gold, d
Slide 4: Disclaimers & Compliance Statements (cont)
Disclaimers & Compliance Statements (cont) Information in this presentation that relates to Exploration Targets is based on and fairly represents information and suppor ting documentation compiled by Mr Sam Brooks. Mr Brooks is a Competent Person who is a full-time employee of and holds securities i
Slide 5: Strong execution to date… strategy underway to accelerate growth
Strong execution to date… strategy underway to accelerate growth Following the successful delivery of the Bellevue Gold Project, the focus is now on growth and margin expansion – Bellevue’s accelerated 5 Year Growth Plan to deliver low risk expansion to 250koz1 pa by FY28 Successful project delivery
Slide 6: Profitability combined with a derisked balance sheet
Profitability combined with a derisked balance sheet FY24 NPAT of $75m and June 2024 quarter free cash flow of $41m highlights cash generating potential Recent capital raising has de-geared balance sheet and created a platform for self-funding growth Self-Funding 5yr growth plan driven by profitabil
Slide 7: Production Growth of +45% by FY28 in a Tier mining district
Production Growth of +45% by FY28 in a Tier 1 mining district Production is set to grow at a 13% CAGR to FY283 Bellevue to become the only pureplay 200koz2 pa+ gold producer with >5g/t gold head grade in Tier 1 jurisdiction Tier 1 gold deposits with >200koz production & 5g/t Au head grade1,2 Bellevu
Slide 8: Successful project delivery
Successful project delivery Commercial production achieved in May 2024 with 2H FY24 production of 80,043 ounces in line with guidance, delivering free cash flow of A$41m in the June 2024 Qtr June 2024 quarterly highlights 2H FY24 gold production of 80,043 ounces – guidance achieved For personal use
Slide 9: Investment in infill grade control drilling
Investment in infill grade control drilling A$23 million investment in infill drilling over past 24 months, excellent resource to mining reconciliation Delivers a robust high-grade and high confidence Reserve For personal use only Marceline Paris Portal MiningArea 1.8m @ 123.3 g/t gold 1.9m @ 85.1 g
Slide 10: Increasing ore headings to drive production growth
Increasing ore headings to drive production growth Deacon Main 1058 200 Bellevue 1095 200 Five independent mining areas in ore development by Q1 FY25 with multiple development levels For personal use only Growth investment in FY25 opens two 129.0g/t 110.2g/t additional development areas: Deacon Ma
Slide 11: Stoping ramping up; excellent performance to date
Stoping ramping up; excellent performance to date Stoping ramp up continues with increased active stoping areas and development levels For personal use only Cavity monitoring of voids to date highlight favourable stoping conditions o Minimum widths achieved o Target dilution achieving better tha
Slide 12: Infrastructure unlocks productivity in FY25
Infrastructure unlocks productivity in FY25 Life of mine infrastructure ready Q1 FY25 – production to rise H2 FY25 FY24 Development & Infrastructure Mine Infrastructure Upgrades Significant investment in mine development – Upper Armand, Lower Critical ventilation, pumping and electrical infrastruc
Slide 13: Simple growth in process capacity to 1.6Mtpa
Simple growth in process capacity to 1.6Mtpa Currently operating at 1Mtpa – 1.2Mtpa Stage 1 expansion to 1.35Mtpa (A$12 million, For personal use only FY25) – gravity screen upgrade and additional Stage 2 – Stage 1 - gravity concentrator, thickener modifications. Gravity Upgrade Extra Ball Mill St
Slide 14: Vrify 3D presentation – play here
Vrify 3D presentation – play here For personal use only 14 https://vrify.com/decks/16463
Slide 15: 5 Year Growth Plan to +250koz pa and lower costs
5 Year Growth Plan to +250koz1 pa and lower costs Multi-year Production & Cost Guidance FY25 Guidance and Growth 260 2,000 FY25 to deliver production of 165,000-180,000 ounces at a project AISC of A$1,750 - A$1,850 per ounce 240 1,900 For personal use only Focus on UG mine expansion; Tribune UG es
Slide 16: Growth in annual mining rate to 1.6Mtpa by FY27
Growth in annual mining rate to 1.6Mtpa by FY27 Installed infrastructure during FY25 & FY26 to unlock schedule expansion 5 mining areas increasing to 7 Underground Mining Tonnes per annum For personal use only High grade Medium grade Low grade 2,000,000 8.0 1,800,000 7.0 High grade 1,600,000 6.0 1,4
Slide 17: Investing now for the future
Investing now for the future Benefits of investing in life of mine infrastructure in FY25/26 Investment across FY25-FY26 will create life of mine platform to be a +250koz1 pa producer Drives a cost benefit from increased economies of scale and a decrease in AISC of A$250/oz from FY25 to FY29 For
Slide 18: 3.2Moz Resource – targeting significant growth potential
3.2Moz Resource – targeting significant growth potential FY25-FY26; decline development opens up a major ~1.5-2.5Moz at 8-10 g/t gold Exploration Target1 to the south covering down plunge extent of ore system Current MRE 3.2Moz covers 2.8km of strike2 - new drill platforms covering an extra ~50%
Slide 19: Exploiting the competitive exploration advantage
Exploiting the competitive exploration advantage Conductive mineralisation drives more efficient discovery and target appraisal Several areas highlight the potential for future Resource growth with further drilling outside of known Resource areas For personal use only STRONG DHEM CONDUCTOR Tribu
Slide 20: Deacon Main – Infill drilling defining exceptional grade
Deacon Main –Infill drilling defining exceptional grade New ‘high-grade shoot ’ identified along 1.5Moz Deacon lode through underground grade 7 control close spaced drilling Now defined over 260m down plunge, exceptional grade and continuity shoot is an important contributor to FY25 schedule Dea
Slide 21: Deacon high-grade shoot – Multiple repeat shoots to drive mine plan
Deacon high-grade shoot – Multiple repeat shoots to drive mine plan New ‘High-grade shoot’ defined by infill drilling with exceptional grade and width Association with massive to semi massive pyrrhotite, analogous intersections identified in broad drilling Potential for a further six high-grad
Slide 22: Bellevue South – Key FY25 Mining area
Bellevue South –Key FY25 Mining area Offset continuation of the Bellevue Lode to the South High-grade ore shoot in FY25 schedule recent grade control shows robust and wide orebody OPEN to south with drill platform to be established for extensional drilling For personal use only North Current d
Slide 23: For personal use only
4.4m @ 62.4 g/t(DRDD218) Deacon Main 14.7g/t 98.7g/t Deacon Main- Multiple shoot is analogous shoots 129.8g/t 104.3g/t across lode 90.4g/t “Bellevue 4.4m @ 64.4 g/t 76.7g/t 21.4g/t 4.3m @ 55.2 g/t style” For personal use only 1.5m @ 168.8 g/t 33.4g/t 4.9g/t 4.3m @ 55.2 g/t (DRDD106W1) Viago/Bellevue
Slide 24: Exploration to underpin Resource growth
BGL Exploration to underpin Resource growth Project continues to grow – following successful commissioning and ramp up exploration spend to add low-cost ounces to mining inventory +143% Share Price Performance Last 5 years Mineral Resource over time (Moz) 1.5-2.5Moz For personal use only Successful
Slide 25: Investment Highlights
Investment Highlights For personal use only Exceptional Production Experienced Fully funded Exploration asset growth management for growth upside Bellevue forecast to 5 Year Growth plan Track-record of Balance sheet Underground be the only delivers production tier-1 gold miners optimised and de- dev
Slide 26: Peer comparison data (1/2)
Peer comparison data (1/2) Production Basis of data AISC Basis of data Source Document Koz x A$/oz x Peers1 For personal use only Alkane 75 FY25G 2,500 FY25G “Tomingley FY2024 Production Update”, released on 4 July 2024 Capricorn 115 FY25G 1,420 FY25G Capricorn Metals JunQ Report, released on 26 Jul
Slide 27: Peer comparison data (2/2)
Peer comparison data (2/2) Production Grade AISC1 Basis of data Source Document Koz g/t A$/oz X Peers For personal use only Agnew/Lawlers 245 5.7 1,787 CY23A Gold Fields 2023 Annual Financial Report, released on 28 March 2024 Granny Smith 284 5.0 1,634 CY23A Gold Fields 2023 Annual Financial Report,