Bellevue Gold on track to meet annual targets

• Bellevue Gold announced its combined April and May production reached 28,100 ounces of gold.
• The company stated its total capital spending for the 11 months to May 31 reached approximately $96 million.
• Management intends to complete the financial year within its stated capital guidance range of $105–115 million.

Bellevue Gold (ASX:BGL) announced that its operations are on schedule to meet its full-year production and cost targets after producing 28,100 ounces of gold across April and May.

The two-month output brought the company's total production for the 11 months ended May 31 to approximately 130,000 ounces, positioning the business to exceed the midpoint of its annual guidance range of 130,000–150,000 ounces.

The company stated that its exploration and growth capital for the 11-month period totalled approximately $96 million, with spending expected to finish the financial year within the projected $105–115 million guidance range.

Following the announcement, the Bellevue Gold share price was down at $1.39.

The company stated that its underground extensional drilling programme has commenced at the Tribune South deposit following the advancement of the Southern Belle Decline.

The business is also currently undergoing a mining contractor transition from Develop Global to Barminco, with physical handover scheduled to take place on Aug. 1.