Bellevue Gold slumps after cutting FY guidance
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More news: Shares in Bellevue Gold have slumped more than 12% to $1.01 after the gold miner cut its full-year production guidance after lower output and sales in the December quarter.
It now expects FY25 gold production to be 150,000 to 165,000 ounces, down from its previous estimate of 165,000 to 180,000 ounces, However, it said grade improvements are expected in the second half of FY25 as it will move to mine in areas of lower geological complexity.
Bellevue cuts FY guidance after slower December quarter
The news: Miner Bellevue Gold has cut its full-year production guidance after reporting lower output and sales in the December quarter.
The numbers: The miner reported sales of 26,230 ounces of gold in the three months to December, compared to an output of 35,993 in the September quarter.
It now expects FY25 gold production to be 150,000 to 165,000 ounces, down from its previous estimate of 165,000 to 180,000 ounces.
The context: Bellevue said FY25 production is weighted to the second half of FY25, with output for the period forecast at 90,000 ounces. It attributed its lower gold production to lower grade ore, with the Armand, Marceline and Bellevue South mine areas in Western Australia seeing more geological variability.
It said grade improvements are expected in the second half of FY25 as the mining sequence moves into areas of lower geological complexity and higher grade in key mining areas.
The source: ASX announcement
