Bellevue Gold Ltd (ASX:BGL) has completed 69% of the development at its namesake play in Western Australia, where production is on track to begin in the second half of 2023.
In a progress update, the company aiming to become Australia’s first ASX-listed net-zero gold miner said the project was fully funded, with $277.3 million of liquidity as of September 30, 2022.
Pre-production expenditure stood at about 90% contracted while long lead items have been ordered.
The total stockpiles at the time of plant commissioning are expected to exceed 200,000 tonnes at more than 5 g/t gold, significantly de-risking early production.
The following are excerpts of the project status as of November.
Construction progress
- GR Engineering Services fully mobilised and advancing construction activities.
- Bulk earthworks completed.
- Detailed earthworks complete for all critical path areas.
- Structural concrete commenced.
- Critical path early lead items under manufacture with key components beginning to arrive in Perth.
Mining and development
- Develop Global Ltd Mining fleet updated with new equipment landed on site.
- 6.7 kilometres of underground development completed on-site to date.
- Second jumbo commenced October, third arriving January 2023.
- Ore driving to commence at Armand this month.
- Third jumbo to commence on-site in January 2023.
- Delta vent - ventilation on demand installed - industry-leading technology.
- Raisebore contractor on site, drilling commenced.
- Underground grade control underway.
- Open pit mining at the Vanguard pit is set to commence in the third quarter of the 2023 financial year targeting about 100,000 tonnes at more than 3.5 g/t gold of ore delivered to the stockpile.
Mine camp
- The 343-room camp is complete and operational.
- Designed for worker comfort with dependable phone reception, high-speed internet, large modern gym, sports court and other recreational facilities, rooms are 20% bigger than the industry standard.
To read the full progress report, click here.
Read more on Proactive Investors AU
