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Bellevue Gold gains BlackRock Group as a new substantial holder

The company is developing its 2.2 million ounce Bellevue Gold Project in Western Australia.

Bellevue Gold Ltd - Bellevue Gold gains BlackRock Group as a new substantial holder
The company recently secured $26.5 million through a share placement

Bellevue Gold Ltd (ASX:BGL) has a new substantial gold in BlackRock Group with a holding of 68.99 million shares or 10.17%.

BlackRock is the world's largest asset manager, with $7.4 trillion in assets under management as of the end of the December quarter 2019.

Recent capital raising and upcoming resource update

Bellevue recently raised $26.54 million through the placement of 88.48 million shares to sophisticated investors at a price of 30 cents per share.

Proceeds will fund further programs of infill and resource extension drilling at the Bellevue Gold Project, economic studies in preparation for development and provide general working capital.

The project’s Inferred Resource stands at 6.1 million tonnes grading 11.3 g/t for 2.2 million ounces of gold.

Bellevue is on track to publish its maiden Indicated Resource in the June quarter.

Quick facts: Bellevue Gold Ltd

Price: 0.7825 AUD

ASX:BGL
Market: ASX
Market Cap: $535.41 m
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Bellevue Gold reveals further high-grade upgrade at flagship gold project

Bellevue Gold Ltd's (ASX:BGL) Steve Parsons caught up with Proactive's Andrew Scott after announcing a further high-grade resource upgrade at their project in Western Australia. The latest update incorporates the recent Viago North and Tribune North strike extensions which are in the...

on 11/7/19

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