Bellevue Gold Limited · ASX:BGL
Bellevue Gold — Macquarie Australia Conference 2023
29 slides from Bellevue Gold's conference presentation, May 2, 2023
Slide 1: Macquarie Australia Conference – Bellevue Gold Project
For personal use only Macquarie Australia Conference High-grade Bellevue Gold Project in WA Building Australia’s next Major Gold Mine May 2023
Slide 2: Disclaimers & Compliance Statements
Disclaimers & Compliance Statements JORC COMPLIANCE STATEMENTS It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC
Slide 3: Disclaimers & Compliance Statements
Disclaimers & Compliance Statements This Presentation has been prepared by Bellevue Gold Limited (Company) and is authorised by the Managing Director of Bellevue Gold Limited. DISCLAIMER This Presentation has been prepared by the Company based on information from its own and third party sources and
Slide 4: Bellevue Gold Overview
Bellevue Gold Overview A globally significant high-grade, high margin, growth focused gold project in Australia Project has significant grade, scale and margin in a tier one jurisdiction For personal use only Significant and proven growth potential vs peer group Forecast +10yr mine life produc
Slide 5: Corporate Summary
Corporate Summary BGL was recently included into the S&P ASX200 index in April 2023, 2nd project drawdown occurred in late April 2023 Key Metrics 900 5 Year Performance of BGL vs GDXJ Index and $A Gold Price For personal use only ASX Code BGL 800 BGL has materially outperformed the GDXJ Shares on is
Slide 6: Board and management – a proven team of mine builders
Board and management – a proven team of mine builders Darren Stralow Mining Engineer 20yrs' experience Managing Director Previous role of Chief Development Officer and GM of Operations Investment Banking & CEO at Northern Star Resources (NST) For personal use only 35yrs' experience Led integ
Slide 7: Sustainability is core to BGL's vision and purpose
Sustainability is core to BGL’s vision and purpose Vision To be a sustainable gold mining company that enriches our shareholders, community and people To create a high-performance organisation that delivers superior shareholder value, positive ESG outcomes and an environment for our people to Purpos
Slide 8: Exploration targeting continued organic growth to deliver outperformance
Exploration targeting continued organic growth to deliver outperformance Since the discovery hole in November 2017, the Resource has grown at a compound annual growth rate of 63% For personal use only Reserve conversion - further growth potential to grow the 1.34Moz Reserve Exploration potenti
Slide 9: 10-year mine life with organic growth potential
10-year mine life with organic growth potential Multiple opportunities for organic growth: 1. Nameplate 1Mtpa - crushing circuit has been designed to process higher throughput rates than 1Mtpa 2. Resource conversion - another 40% of the Resource sits outside the current mine plan For personal use
Slide 10: Project delivery, de-risking and growth on a world class system
Project delivery, de-risking and growth on a world class system Continued delivery of several major milestones for the development of a globally significant Project: Liquidity1 (A$m) Process plant construction well advanced with plant construction For personal use only designed for future production
Slide 11: Project Delivery
For personal use only Project Delivery
Slide 12: Consistently delivering since July 2020
Consistently delivering since July 2020 Since development commenced in July 2020, BGL has consistently delivered on time and is on-track to achieve first production in H2 CY23 Project execution is significantly de-risked to cost escalation with all major pre-production capital contracts committe
Slide 13: Camp complete and operational
Camp complete and operational The 343-room camp is now complete and operational Designed for worker comfort, health and safety with dependable phone reception, high speed internet, well-lit outdoor areas, large modern gym, sports court and other recreational facilities, rooms are 20% bigger than
Slide 14: Processing Plant construction progress 27/04/2023
For personal use only Processing Plant construction progress 27/04/2023 14
Slide 15: Construction progress on track
Primary and secondary crusher installed Thickener installation May 2023 For personal use only Construction progress on track Detailed earthworks and civil concrete works completed CIL tanks assembled to full height Primary and secondary crushers installed Mine and administration office
Slide 16: Mining development ahead of schedule
Mining development ahead of schedule Develop Global Ltd (ASX:DVP) mining fleet - ramp up to 3 Jumbos operating at full utilisation ~10km of underground development completed on site to date All underground equipment is new and has been maintained with full staffing levels For personal u
Slide 17: Derisking and Growth
For personal use only Derisking and Growth
Slide 18: Vrify 3D presentation
Vrify 3D presentation – play here For personal use only https://vrify.com/decks/13271
Slide 19: Mining - key pillars in place
Mining - key pillars in place 1 Steady Ramp up to Production 10 available headings – multiple jumbo productivity 2 Robust Ground Conditions Mesh & Bolts only For personal use only 3 Installed Infrastructure Future proof with a focus on emissions reduction 4 Tier 1 Contractor Elite underground mining
Slide 20: 3.1 Moz high-grade lode system - Open for growth
3.1 Moz high-grade lode system - Open for growth Bellevue Lode system is open down plunge and at depth with high potential for repeat structures in the footwall Current Resource For personal use only Current Resource Bellevue Lode Mined 1986-1997 700k ounces @ +11g/t Current Resource Westralia and
Slide 21: Funded for increased exploration
Funded for increased exploration Dedicated Resource step out and conversion Underground Diamond Rig mobilised to site Jan 2023; +50,000m Program Progress in underground development opening up new areas for drill testing along strike and at depth For personal use only Bellevue Lode system remai
Slide 22: Grade control drilling- derisking delivery
Grade control drilling- derisking delivery Marceline Mining Area 1.8m @ 123.3 g/t gold 1.9m @ 85.1 g/t gold For personal use only Tribune 3.1m @ 21.8 g/t gold Mining Area 2.2m @ 19.4 g/t gold Paris Portal 10m @ 15.4g/t gold 2.7m @ 13.5 g/t gold 2.4m @ 46.2g/t gold 4.0m @ 25.6 g/t gold 7.3m @ 26.9 g/
Slide 23: Multiple high-grade ore headings open at Armand
Multiple high-grade ore headings open at Armand Armand one of five work areas open in N 2023 each with multiple For personal use only development faces 1251 400 1251 1000 1251 600 1251 800 1251 2000 1251 100 Face grade of 14.5g/t using a 50g/t topcut 1251 900 1251 120 1251 100 100m Grade Control dri
Slide 24: Processing – Derisking and growth
Processing – Derisking and growth Reagents De-risked flow sheet and execution on track Simple layout and orientation - 1Mtpa nameplate Gold Room For personal use only Simple metallurgy – 97% total recovery, including Thickeners CIL >60% gravity recovery Crushing Circuit Ball Mill Admin & Stores
Slide 25: Why own Bellevue Gold?
Why own Bellevue Gold? High grade organic growth potential versus a sector backdrop of declining grade, production and exploration discoveries Development companies typically re-rate from trading at a discount to P/NAV to cashflow EV/EBITDA trading multiples; For personal use only Bellevue is curr
Slide 26: Investment highlights
Investment highlights For personal use only World class potential Resource Growth Production Growth ESG Leader De-risking Forecast to be a Since the discovery 1mtpa plant Project is forecast 85% through top 20 Australian hole in November designed for to have the lowest development timeline gold prod
Slide 27: Appendix
For personal use only Appendix
Slide 28: Mineral Resource and Ore Reserve Estimates
Mineral Resource and Ore Reserve Estimates INDEPENDENT JORC 2012 RESERVE ESTIMATES FOR THE BELLEVUE GOLD PROJECT (Current June 2022) Tonnes Grade Contained Ounces Ore Reserve (Mt) (g/t Au) (Moz) Probable High Grade Underground Ore Reserve 4.5 7.9 1.14 For personal use only Probable Low Grade Undergr
Slide 29: Peer Comparison Information
Peer Comparison Information Enterprise FY25E Market Cap Net Debt FY25E EBITDA Source Document Value EV/EBITDA For personal use only A$m A$m A$m A$m x FactSet Peers consensus Newcrest 26,138 2,551 28,689 3,504 8.19x Newcrest 1H FY23 report, released on 16 February 2023 Evolution 6,478 1,559 8,037 1,4