leadf
logo-loader
viewBellevue Gold Ltd

Bellevue Gold $20 million share purchase plan set to close this Friday

Proceeds of the placement and the SPP will be used to grow resources and accelerate development of the Bellevue Gold Project in WA.

Bellevue Gold Ltd - Bellevue Gold share purchase plan set to close this Friday
The offer is open to all eligible shareholders in Australia and New Zealand

Bellevue Gold Ltd (ASX:BGL) will close its share purchase plan (SPP) to raise up to $20 million this Friday, August, at 5pm Perth time.

The SPP is priced at $1 per share, which is the same price as the recent share placement in which Bellevue raised $100 million.

Under the SPP, eligible shareholders can apply for up to $30,000 worth of shares without incurring brokerage, commission or other transaction costs.

Both board members and senior management that are eligible to participate in the SPP will be applying to participate.

The record date for the SPP was 5pm (Perth time) on Wednesday, July 8, 2020.

Accelerating project development

The equity raising will see the company fully funded for an aggressive exploration campaign at its Bellevue Gold Project in WA to upgrade and increase resources while advancing underground development on the pathway to resource growth and development.

Proceeds from the placement and SPP will be used to fund:

  • Growth of the existing 2.3 million ounces resource at Bellevue Gold Project;
  • Further expand the indicated resource of 860,000 ounces at 11.6 g/t and grow the high-grade core of 480,000 ounces at 15.5 g/t by upgrading more of the inferred resource;
  • Ongoing step-out exploration for further discoveries as all lodes remain open in every direction;
  • Further regional exploration;
  • Reestablish access for mechanised re-entry to underground and establish drill platforms;
  • Fund underground mine development, including production decline and infrastructure;
  • Establish non-processing infrastructure; and
  • General working capital and offer costs.

 

Quick facts: Bellevue Gold Ltd

Price: 1.06 AUD

ASX:BGL
Market: ASX
Market Cap: $853.19 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bellevue Gold Ltd named herein, including the promotion by the Company of Bellevue Gold Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Bellevue Gold's Luke Gleeson looks ahead to early stage development work at...

Bellevue Gold Ltd's (ASX:BGL) Luke Gleeson caught up with Proactive's Andrew Scott following the news they've appointed GBF Mining and Industrial Services to complete stage 1 of development at their gold project in WA. GBF, part of the Macmahon group of companies, will re-establish the existing...

3 weeks ago

2 min read