Bellevue Gold shares sink as Van Eck sells 1.5% stake
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The news: Bellevue Gold shares tumbled in morning trade after one of the gold miner's largest shareholders, New York-based investment manager Van Eck Associates, sold a 1.5% holding in the gold miner.
The numbers: Bellevue shares were down 7.2% to $1.23 at 11:15am AEDT.
Van Eck Associates sold around 18 million shares, equating to a 1.47% stake, leaving it with a 7.59% shareholding in Bellevue, according to an ASX filing.
The context: The gold miner's share price tumbled in January, after the company cut its full-year production guidance following lower output and sales in the December quarter.
The source: ASX
