Bellevue Gold Limited · ASX:BGL
Bellevue Gold — Technical Presentation (February 2021)
45 slides from Bellevue Gold's technical presentation, Feb 18, 2021
Slide 1: Stage 1 Feasibility Summary Presentation
For personal use only Stage 1 Feasibility Summary Presentation Developing the high-grade Bellevue Gold Project in WA Follow us @bellevuego l d www.bellevuegold.com.au
Slide 2: Disclaimer & Cautionary Statements
Disclaimer & Cautionary Statements For personal use only This Presentation has been prepared by Bellevue Gold Limited (Company) and is authorised by the Board of Directors cause the Company's actual results, events, prospects and opportunities to differ materially from those expressed or of Bellevue
Slide 3: A Robust, Independent Feasibility Study
A Robust, Independent Feasibility Study Bellevue engaged industry experts across the resources sector to lead the study work to develop Australia’s next high- For personal use only grade gold mine; specialised leading independent consultants were sourced for all key aspects as listed in the Study St
Slide 4: On track to become one of the most profitable 'Green & Gold' mines in Australia
On track to become one of the most profitable ‘Green & Gold’ mines in Australia Bellevue Gold’s Stage 1 Feasibility Study highlights the potential for a sector-leading level of profitability for For personal use only ASX- listed goldminers, best in class ESG metrics and an enviable organic growth pa
Slide 5: BGL – Site Updated 3D Inventum video & Site Flyover Video
BGL – Site Updated 3D Inventum video & Site Flyover Video For personal use only 3D Inventum Link Click Below Project Flyover Link Click Below https://inventum3d.com/c/BGL/Bellevue https://bellevuegold.wistia.com/medias/5fflxxhgnc 5 www.bellevuegold.com.au
Slide 6: BGL – Forecast to become a Top Australian gold mine
BGL – Forecast to become a Top 25 Australian gold mine The Stage 1 Feasibility Study shows BGL is forecasted to enter the Top 25 largest producing gold mines in Australia, with For personal use only the potential for future production growth in an updated Feasibility Study due in the June Quarter
Slide 7: BGL – Forecast to enter the bottom quartile on AISC vs peers
BGL – Forecast to enter the bottom quartile on AISC vs peers The BGL Stage 1 Feasibility Study positions the Bellevue Gold Project in the bottom cost quartile with a forecast LOM AISC For personal use only of A$1,079/oz compared to producers and current developers in PFS or FS study level LTM AISC o
Slide 8: BGL – Grade is King
BGL – Grade is King The BGL Maiden Probable Ore Reserve of 690,000oz at 8.0g/t from 2.7Mt sits as the second highest reserve grade of all For personal use only current Australian gold mines 21.8g/t Reserve Grade of Top 20 Australian Gold Mines of publicly-listed companies 8.0g/t 6.3g/t 6.2g/t 5.8g
Slide 9: BGL - Forecast to deliver sector-leading financial returns
BGL - Forecast to deliver sector-leading financial returns Bellevue Gold’s production is forecast to commence in FY23 and set to deliver sector-leading profitability compared to the For personal use only ASX listed peer group with an EBITDA Margin of 63% and an AISC Margin of 53% (based on a gold pr
Slide 10: BGL- a resource that continues to grow rapidly
BGL- a resource that continues to grow rapidly Since the discovery hole in November 2017, the Resource has grown at a compound annual growth rate of 92% at a For personal use only discovery cost of A$21/oz BGL Resource Growth (koz)† Years of continuous operations of other WA underground gold mines 2
Slide 11: BGL - A deposit that continues to grow in every direction
BGL - A deposit that continues to grow in every direction Since the Tribune discovery hole in November 2017, the resource has grown at a compound annual growth rate of 92% For personal use only The recent Lucknow discovery extends the strike to over 5km and the Lucien discovery sits 300m beneath
Slide 12: $35m Exploration Budget: Pipeline Near Mine & Greenfields targets
$35m Exploration Budget: Pipeline Near Mine & Greenfields targets For personal use only NEAR MINE Southern Belle Deacon Central Marceline Armand Tribune Southern Plunge Deacon Southern Plunge Bellevue/Highway Shear under Viago Hamilton Extension Lucien EIS Lucknow Diabolas Bellevue Depth Extension G
Slide 13: Outstanding forecast cash generation
Outstanding forecast cash generation Pre-tax and at a spot gold price scenario of A$2,300/oz, the project delivers consistent earnings of over $1.63B at an For personal use only EBITDA Margin of 63% in the Stage 1 Life of Mine and $734m of EBITDA in the first 3 years Cumulative Gold Production and E
Slide 14: Forecast Production Summary - a focus on free cashflow
Forecast Production Summary - a focus on free cashflow Pre-tax and at a spot gold price scenario of A$2,300/oz, the project is forecast to deliver over $1.1B of Free Cash Flow (FCF) For personal use only over the initial 7.4yr mine life, achieve project payback in 1.4 years and deliver FCF (includin
Slide 15: Project financing well underway- debt advisors appointed
Project financing well underway- debt advisors appointed BGL has a current cash balance of $127.6m as at 31 Dec 2020 and is well funded through 2021; robust financials and For personal use only rapid project payback of 1.4yrs (pre-tax) provides for potential standard debt financing Leading Perth
Slide 16: Bellevue and its Sustainability pathway- a vision to be best in class
Bellevue and its Sustainability pathway- a vision to be best in class For personal use only Climate Develop considerations for Begin TCFD gap climate risks new infrastructure, TCFD TCFD analysis and and efficiency options phase 3: phase 1: Refresh TCFD staged action opportunities and fuel usage inte
Slide 17: Forecast to be Australia's 2nd lowest greenhouse gas emitter /oz
Forecast to be Australia’s 2nd lowest greenhouse gas emitter /oz and a vision to be best in class In line with our PACE core values, the Stage 1 Feasibility Study had a strong focus on our environmental impact, and this For personal use only was taken into consideration in the design of our projec
Slide 18: BGL – The green behind the gold
BGL – The green behind the gold The Project has been designed to optimize our energy use and reduce our environmental impact For personal use only Bellevue’s 25 modeling places us as of one of the most efficient mines, based on forecast energy use (GJ) per ounce produced Telfer 20 Energy Use (GJ
Slide 19: Power supply options - choosing green over cost
Power supply options - choosing green over cost The current BGL gas-fired power solution is forecast to deliver a 32% reduction in emissions compared to diesel-only For personal use only power generation Emissions vs cost – despite the higher capital required for gas fired power, BGL has chosen
Slide 20: Bellevue's economic contributions to society
Bellevue’s economic contributions to society Since the ‘discovery hole’ in November 2017, BGL has injected over $88m into the Australian economy For personal use only During construction and operation, our Stage 1 Feasibility Study forecasts to generate $1.8 billion into the economy, including c
Slide 21: Continued dual exploration and development strategy
Continued dual exploration and development strategy Stage 1 Maiden Feasibility Study demonstrates that the dual track pathway to production is generating value for For personal use only shareholders; Continued exploration scheduled to see an updated Stage 2 Feasibility Study in June Quarter 2021 Sta
Slide 22: Feasibility Study Strategy - Key deliverables achieved
Feasibility Study Strategy - Key deliverables achieved • For personal use only Ongoing execution of the dual track strategy of exploration and development delivering outstanding results • Objectives of the Stage 1 Feasibility Study targeting: • +7 year mine life with defined opportunities for future
Slide 23: Long section view of the Mine Plan
Long section view of the Mine Plan Mine plan highlighting graphical annual LOM Schedule1 For personal use only Stage 1 Decline rehabilitation Approximately +1,000 meters advanced from portal (see image) Tribune Open Pit Current Decline Advance ~1,000m +1,000 meters • 28kms of existing underground in
Slide 24: Conventional mining methods
Conventional mining methods For personal use only Sub Horizontal Lodes (18% LOM Ounces) • Areas with footwall dips < 45o utilise a modified cut and fill method with sub level stoping. • Primary development is driven along strike of the ore zones, the ore is then stripped out (up to 4.2m). • The prim
Slide 25: Conventional Processing Facility – to deliver LOM recoveries of 97%
Conventional Processing Facility – to deliver LOM recoveries of 97% Process Plant For personal use only • Total LOM recoveries forecasted at 97.0% • Process plant designed to recover high gravity component at the front end. Test work indicates between 58% and 85% is recoverable through gravity recov
Slide 26: Current Development timetable
For personal use only Current Development timetable1 2021 2022 2023 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Existing Decline Rehabilitation Development Approvals and Permitting Project Project Optimisation Studies Construction Ready Infrastructure Stage 2 Feasibility Study Exploration
Slide 27: Conclusion: Exploiting Our Competitive Advantages
Conclusion: Exploiting Our Competitive Advantages For personal use only On track to be one of Australia’s highest-grade gold mines, with exciting exploration potential, forecast sector-leading ESG metrics and an accelerated development timeline 2.4Moz $1.1B FCF at 10.0g/t 58% IRR GRADE & SCALE PROFI
Slide 28: Appendices
Click here for the 3D Inventum model For personal use only Appendices Follow us @bellevuego l d www.bellevuegold.com.au
Slide 29: Corporate Summary
CORPORATE SUMMARY BUILDING STRONG FOUNDATIONS For personal use only Current Share Price (as at 16 February 2021) A$1.03 ASX Code Market Capitalisation ~ A$872M BGL ASX 300 (September 2019) Cash1 ~ A$127.6m Shares on issue ~850m Management & consultant options & performance rights unlisted ~28m (pric
Slide 30: Bellevue Gold - Values and Vision
Bellevue Gold - Values and Vision “To create a standout gold mining & exploration company that is an industry benchmark” At Bellevue we believe we have a unique opportunity to develop a standout gold mining company that is the For personal use only benchmark for others to be measured against. We bel
Slide 31: Tier location in world-class gold belt
Tier 1 location in world-class gold belt Bellevue has major landholding of over 2,780km2 For personal use only Excellent infrastructure: Historically significant gold producing region: • Services at Leinster, Leonora and Willena • Major gold deposits & producing gold • Daily flights - Perth to L
Slide 32: Board of Directors
Board of Directors A Track Record of Corporate Success For personal use only Non-Executive Independent Chair Non-Executive Independent Director Non-Executive Independent Director Executive Director & Joint Company Managing Director Ms. Fiona Robertson Ms. Shannon Coates Secretary Mr. Kevin Tomlinson
Slide 33: Executive Management Team
Executive Management Team Building a Team With a Track Record of Discovery Through to Multi-mine Production For personal use only GM People and Company Culture Chief Operating Officer Head of Corporate Development Chief Geologist Joint Company Secretary Ms. Daina Del Borrello Mr. Craig Jones Mr. Luk
Slide 34: ESG & the opportunity to be 'best in class' corporate citizens
ESG & the opportunity to be ‘best in class’ corporate citizens BGL is evaluating all options on the pathway to development For personal use only - Smart blasting - Use of renewable electricity (solar, Climate consideration examples: - Energy efficient grinding batteries) to power operations - Bushfi
Slide 35: Social and Community
For personal use only Social and Community Social, Community and Environmental Maiden Sustainability Report released November 2020 Ongoing support of Clontarf Foundation with working opportunities provided for Indigenous personnel looking to start in the resources industry Leonora High S
Slide 36: Processing Plant Overview
For personal use only Processing Plant Overview 36 www.bellevuegold.com.au
Slide 37: Crushing Circuit 3D Rendered Model
For personal use only Crushing Circuit 3D Rendered Model 37 www.bellevuegold.com.au
Slide 38: Non Process Infrastructure
For personal use only Non Process Infrastructure Infrastructure requirements • New office and facilities to support the mine activities • New 300 person camp located north of the project area with access from the Goldfields Highway • Potable water sourced and treated and distributed around the site
Slide 39: Project Capital and Operating Costs
For personal use only Project Capital and Operating Costs Pre-Production Post-production Capital Costs Capital Expenditure ($M) Total (construction and ramp-up periods) (Years 1 to 91) Site and Sustaining Capital 75 26 101 • Site and Sustaining Capital – Starter TSF, Processing Plant 69 - 69 evapora
Slide 40: Project Capital and Operating Costs
For personal use only Project Capital and Operating Costs Operating Costs Operating Costs (post-production) $M $/T Milled $/oz Produced Underground Mining 466 85.85 425 • Underground Mining – Rates supplied by a competitive Request for Quotation (RFQ) process. Grade Control 72 13.27 66 Costs include
Slide 41: Opportunities & Risks
For personal use only Opportunities & Risks1 Opportunities Risks • Mill throughput increase to process lower grade • Gold price volatility and exchange rate risk stockpiles of mined material. This is being evaluated with update to FS in Q2 2021 • Resource and Reserve estimates • Paste fill for under
Slide 42: Key De-risking Events – Completed since July 2020
Key De-risking Events – Completed since July 2020 A Pathway to Realising and Unlocking Shareholder Value For personal use only Key De-risking Events Achieved on the Project To Date – All successfully completed to further de-risk the project ►Key Building Blocks and Achievements Demonstrate the qua
Slide 43: Mineral Resource and Ore Reserve Estimates
Mineral Resource and Ore Reserve Estimates Independent JORC 2012 Resource and Reserve estimates for the Bellevue Gold Project: 3.5 g/t gold lower cut-off, totals rounded to reflect acceptable position. For personal use only Tonnes Grade Contained Ounces Mineral Resource (Mt) (g/t Au) (Moz) Indicated
Slide 44: Australian Gold Mine Peers Data Set (Page 1)
Australian Gold Mine Peers* Data Set (Page 1) For personal use only Resources Reserves Resources Reserves Deposit Reporting Deposit Reporting (Developer) Code Category Mt g/t Moz Category Mt g/t Moz (Developer) Code Category Mt g/t Moz Category Mt g/t Moz Measured - - - Measured 4.6 5.35 0.8 Proven
Slide 45: Australian Gold Mine Peers Data Set (Page 2)
Australian Gold Mine Peers* Data Set (Page 2) For personal use only Resources Reserves Resources Reserves Deposit Reporting Deposit Reporting (Developer) Code Category Mt g/t Moz Category Mt g/t Moz (Developer) Code Category Mt g/t Moz Category Mt g/t Moz Measured 3.2 3.3 0.3 Proven 2.5 3.00 0.2 Mea
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