Bellevue Gold (BGL) 2025 Conference Transcript

Bellevue Gold (BGL) 2025 Conference Summary Company Overview - Bellevue Gold operates a new mine in the Northern goldfields of Western Australia, transitioning from explorer to developer and now to producer with a focus on high-grade underground mining [21][24] Key Industry Insights - The company is positioned to produce 7% of the global antimony supply, highlighting its significance in the critical minerals market [1] - The U.S. is heavily reliant on antimony, consuming about 40% of the world's supply, which underscores the demand for Bellevue's production [2] Financial Highlights - The company raised $105 million through bonds and an additional $60 million in capital, totaling $250 million in funding within six days [4][5] - The project has a projected EBITDA of $2.51 billion and free cash flow of $1 billion over the first seven years [6] - The net present value (NPV) is estimated at $700 million with a capital expenditure (CapEx) of $150 million, resulting in a 5:1 NPV to CapEx ratio, which is considered excellent [7] - The payback period for the investment is projected at 11 months, with a mid-tier pricing strategy of $2,800 per ounce of gold and $41,000 per tonne of antimony [8] Production and Operational Updates - The company plans to commence antimony production in early 2026, with a mine life projected to exceed 20 years [6][7] - Bellevue produced 130,000 ounces of gold in FY 2025 and aims to increase production in FY 2026 and beyond [29][30] - The company has established a strong operational base with all necessary infrastructure in place, transitioning from a construction site to an operational site [30][25] Mining and Development Strategy - Bellevue's mining operation consists of multiple underground mines, with a focus on high-grade areas to enhance production [32][39] - The company has implemented a significant amount of development work to ensure consistent production rates, achieving a strong exit rate in June 2025 [35][38] - The ore body at Bellevue is unique, allowing for flexible mining strategies to optimize production based on market conditions [16][20] Sustainability and Environmental Initiatives - Bellevue has achieved net zero greenhouse gas emissions for its gold project, positioning itself as the world's first net zero gold producer [52] - The company has invested in renewable energy infrastructure, including a 90-megawatt hybrid power station, aiming for 80-90% renewable energy penetration [51][56] - Sustainability is embedded in the company's operations, appealing to environmentally conscious consumers and investors [57] Future Outlook - Bellevue is optimistic about its exploration potential, with significant opportunities to extend the mine life through ongoing drilling and resource evaluation [49][48] - The company is well-positioned in a favorable mining jurisdiction, with a strong focus on operational efficiency and sustainability [58]