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Steve Parsons

Regis has 92% of the Duketon greenstone belt to itself
Bellevue funded
gral to Regis’ success as a $2 billion (as we already have, so we are really excited
of February) company. about that. We really need to find some
Building such a foundation won’t be material to put into our resources, but to 2021
wasted by Regis, which now owns al- that doesn’t happen overnight. We have
most all of the Duketon greenstone belt. 5-6 years of mine life and reserves left Bellevue Gold Ltd has moved to
“About six months ago we purchased that are still to play out at Duketon to get consolidated its development
2,000sq km ground covering most of on with it,” Beyer said. aspirations by aiming to raise
the Duketon belt that we didn’t have be- “We’ve got near-mine development $26.5 million.
fore. We used to have 1,000sq km now where we are using underground poten-
we hold 3,000sq km, which represents tial at Duketon to increase our produc- The company has received firm
about 92% of the belt,” Beyer said. tion. Because we are mill-constrained at commitments for a proposed share
“The Duketon greenstone belt hasn’t Duketon at the moment, mining higher placement at 30c – 7.7% discount to the
been thoroughly explored from a gold grade underground ounces is part of our last trading day price of 32c/share – as it
perspective. We have the advantage of strategy to increase annual production. prepares to release a maiden indicated
having mills and infrastructure across We are heading towards a good steady resource estimate this quarter from its
the belt and we have 10 years of geology 10% increase in gold production in the namesake project in Western Australia.
and exploration/geological knowledge next couple of years.”
that we can apply in that geological set- Beyer, the former Mt Gibson Iron Ltd An inferred resource at Bellevue of 6.1mt
ting.” managing director, has been at Regis @ 11.3 g/t gold for 2.2 moz has already
In addition to the new pastures Regis for 18 months now and in that time there excited the market and the company
wishes to exploit on a greenfields budget have been several changes to the board. aims to maintain the momentum it has
three times what it normally is, Beyer is Steve Scudamore, Lynda Burnett and generated in the past 2-3 years.
cognisant of the need to add resources Russel Barwick have all joined the likes
to the inventory. of Fiona Morgan as non-executive direc- Infill drilling that will now take place
“The ground acquired is similar to what tors. is designed to add to the indicated
Meanwhile, Stuart Gula (chief operat- resource and overall inventory through
ing officer) and Jon Latto (chief financial step-out and exploration campaigns at
officer) have started in their roles since the two highly promising conductors at
Beyer’s arrival. the Deacon lode, among other priority
“We have experienced exploration targets.
people, experienced resource account-
ing, commercial and financing people. “To complete a raising such as this
Russel Barwick has huge amount of in any environment is an excellent
operating experience in Australia and achievement but to do it in the current
around the world and has a good M&A market circumstances is exceptional.
background, while Fiona Morgan has Under the current budget, we are funded
an excellent engineering background through to mid calendar year 2021,”
ground,” Beyer said.
Bellevue managing director Steve
– Mark Andrews Parsons said.

Lynda Burnett is among a number of new
additions to the Regis board
aUSTRaLIa’S PaYDIRT aPRIL 2020 Page 27