Bellevue Gold Ltd (ASX:BGL) is one step closer to maiden production at its namesake WA gold play after its Mining Proposal and Mine Closure Plan was approved.
The Department of Mines, Industry Regulation and Safety has given the plan the greenlight, meaning the gold stock can tick an important milestone off the to-do list.
Concurrently, Bellevue’s construction and underground development work is progressing on time and within budget.
Right now, work on the carbon-in-leach (CIL) tanks is progressing ahead of schedule, with tank one already at its proposed height.
Meanwhile, a civil contractor has poured roughly two-thirds of the project’s concrete, while the project’s structural steel erection should begin before the end of January.
The company remains on track to mint its first gold bar in the second half of this year.
As part of its mission to become Australia’s next high-grade gold producer, Bellevue recently established a critical funding runway.
The company received firm commitments to raise A$60 million in a fully underwritten institutional placement last month, accelerating its underground development and de-risking future production.