Bellevue Gold has closed the 2025–26 financial year (FY26) with production in the upper half of guidance, while cash and gold holdings climbed above $200 million.
The Western Australian gold miner produced 143,500 ounces (oz) in FY26, against guidance of 130,000–150,000oz. Gold poured totalled 143,000oz, with all-in sustaining costs within the guided range of $2600–$2900/oz.
June-quarter production reached 41,643oz at the Bellevue Gold Project in the Goldfields of Western Australia. Ore processed averaged 4.5 grams per tonne gold, while metallurgical recovery rose to 96 per cent.
Development and ore haulage finished the quarter ahead of budget and forecast. Surface stockpiles increased from 37,000 tonnes at the end of March to 47,000t by June 30, giving Bellevue additional ore stocks heading into FY27.
Bellevue also reached first development ore at the higher-grade Deacon North mining area during the quarter.
Underlying free cash flow reached about $110 million before voluntary pre-deliveries into future hedge commitments. Cash and gold on hand rose $25.7 million over the quarter to $206.4 million.
Bellevue accelerated pre-deliveries against forward gold sales commitments, reducing its hedge book by 23,000oz to 68,650oz.
Across FY26, the miner cut forward sales commitments by 83,000oz, or 55 per cent, while adding about $55 million to cash and gold holdings. Bellevue now has no contractual hedge deliveries until the end of June 2027.
Bellevue plans further pre-deliveries while continuing to build cash and fund exploration and capital projects, including construction of a paste plant.
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