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The support we have got from Steve Parsons

our investors is that we need to
be taking this the whole way through
into de
“velopment and production; that
is where the real value uplift will be for
the Bellevue shareholders.

By the end of 2020/early 2021, Bellevue’s path to production
should be better known, with one certainty being that capital costs
will be low given the plus-10 g/t gold material the company is
dealing with.
Grade remains king in the gold sector, which has been reinforced
in the past 12 months by the trials and tribulations of the low-grade
producers and wannabe producers in WA, a Tier 1 jurisdiction.
“Starting a mine doesn’t get better than this in WA,” Parsons said
about Bellevue, which is 30km from Leinster.
The gold price has never been better either, and Parsons is
encouraged by the enthusiasm of investors and analysts for
continued momentum in the precious metal.
“The key driver for that is low interest rates globally, so what you
are going to see, and it has already started, is the big groups trying
to add more ounces very quickly.
They might not be the most profitable ounces, but they are adding
ounces into the inventory,” Parsons said.
“Kirkland Lake’s [Gold Inc] acquisition of Detour [Gold Corp] is
about adding ounces to the production base and that is assuming
that the gold price is strong. Moves like that are really good for gold
companies like Bellevue because that means there is going to be
void of $1-3 billion type gold companies that are new producers.
That is hopefully something companies like us can move into.
While the bigger companies get bigger; we move up the ladder.”
Driving Bellevue up the value curve by becoming a producer will
be done while maintaining a steely focus on exploration.
Bellevue has shone for the company, however, there is further
prospective territory Parsons is eager to learn more about.
“Our exploration team is very, very good. There are certainly some
interesting areas that we really like in Western Australia, however,
we have a big landholding that sits on our existing properties and
this next 12 months is really focusing on that,” Parsons said.
“You will see a whole bunch of exploration happening at our
[South] Yandal project, which we have done nothing on in the last
18 months. We will have a budget for that on great ground that
hasn’t been explored for about 20 years. We will also be stepping
out on that 20km strike on that Bellevue trend, which, again hasn’t
had that work done on it so that is going to be our focus for the
next 12 months.”

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