Bellevue Gold Bears The Brunt of Gold Price Drop
Team Veye | 26-Jul-2024
Bellevue Gold Limited (ASX: BGL) endures the deep losses in gold prices. After hitting record highs earlier this month, the commodity market volatility took its toll.
The company while revealing its 5 year growth plan this day, received firm commitments for a A$150 million fully underwritten share placement to institutional investors.
Strategising to accelerate growth, it looks for financial flexibility lower costs and increase margins. The placement expected to help in de-gearing to unlock operating cash flows for investment in FY25.
The fall in gold prices does not present a gloomy look as with easing inflation, central bank is expected to keep rates steady and indicate a rate cut in September which could be a positive for gold and precious metals.
The execution of its 5 Year Growth Plan will endorse Bellevue’s credentials as a leading high-grade low cost ASX Australian gold producer and position it as one of only seven gold projects in the world producing +200,000oz at 5 g/t gold or more in a Tier One jurisdiction.
Source: Company's Report
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