Bellevue Gold shares climb on Q4 output leap, record free cash flow
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The news: Bellevue Gold was the best performing ASX 200 company in early trading after the gold miner reported record free cash flow during the June quarter.
The numbers: Bellevue shares were up 4.7% to 89.5 cents at 10:40am AEST, having retreated 20% since the turn of the year.
The miner reported gold production of 38,900 ounces for the June quarter, up 55% from 25,000 ounces in the previous quarter.
Gold sales jumped 50.4% quarter on quarter to 38,800 ounces. The miner's all-in sustaining cost dropped 27.9% to $2,253 per ounce.
Bellevue recorded free cash flow of $67 million, compared to an outflow of $30 million in the March quarter.
The context: Bellevue said its improved quarterly performance reflects the early success of its ongoing strategic review.
The review has involved a "comprehensive assessment of all areas of the business", the company said, and driven improved development rates, stope turnaround and processing recoveries.
Bellevue, which is due to announce its FY26 guidance in early August, said the ramp-up of underground infrastructure and upgrades to its processing plant are set to "position the company favourably going into FY26".
The source: ASX
