Bellevue Gold Limited (AU:BGL) has released an update.
Bellevue Gold Limited has announced a net profit of $75 million for FY24, following its successful transition to a gold producer with the Bellevue Gold Mine in WA commencing production in October 2023 and declaring commercial production in May 2024. The company has also outlined a five-year growth plan, aiming to increase production to 250,000oz per year by FY28 and has committed significant investment in exploration to extend the mine’s life. The financial success is attributed to the company’s ability to generate substantial free cash flow, reduce debt, and self-fund its growth strategy.
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