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Bellevue Gold launches $18.5 million fully underwritten placement

Published: 12:46 24 Jul 2019 AEST

funding spelled out by toy blocks
Shares are expected to recommence trading on Friday 26 July 2019

Bellevue Gold Ltd (ASX:BGL) will add to its $20 million of existing cash with an $18.5 million fully underwritten capital raising offering shares priced at 57 cents.

The additional cash enables Bellevue to undertake significant drilling at its flagship Bellevue Gold Project in Western Australia as well as potentially commence pre-development activities.

Drilling will be both infill drilling to further define its existing resource base as well as step-out exploration drilling program over the next 12 months.

Earlier this month, Bellevue upgraded its Bellevue Project to 1.8 million ounces grading 11.1 g/t gold making its one of the highest grade undeveloped deposits in the world.

READ: Bellevue Gold sitting on one of the highest grade gold projects to be found anywhere in the world

Proactive caught up with the company earlier this month for an update.

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