Bellevue Gold, Perseus Mining and Red River Resources among Canaccord’s top picks

Canaccord Genuity continues to see Bellevue as an exciting development proposition while it believes Red River is near an FCF (free cash flow) inflection point.

Canaccord estimates a ramped up Yaoure to drive a substantial lift in earnings for Perseus.

Canaccord Genuity recently highlighted its top picks among precious metals producers and developers featuring companies including Bellevue Gold Ltd (ASX:BGL) (OTCMKTS:BELGF), Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) and Red River Resources Ltd (ASX:RVR) (FRA:R1R).

Bellevue Gold

Bellevue is a top pick among the gold developers under Canaccord’s coverage.

The company recently increased its total resources by 300,000 ounces to 3 million ounces at 9.9g/t, representing an 11% increase in three months.

Importantly, the indicated resource has also grown by 200,000 ounces to 1.4 million ounces at 11g/t representing a +16% increase, and notably, the increase in both cases has not come at the expense of lower grades.

With a growing high-grade resource and reserve base, pragmatic mine plan which should continue to improve over time and a management team of high calibre professionals, Canaccord continues to see Bellevue as an exciting development proposition.

The global capital markets group has maintained its SPECULATIVE BUY recommendation for Bellevue.

Next catalysts

• Exploration updates - ongoing every 4-6 weeks
• Reserve upgrade - SepQ'21
• Stage 2 Feasibility - SepQ'21
• Order long lead items - SepQ'21
• Project finance - DecQ'21