Ann: Rapid development progress at Bellevue Gold Project, page-11

An unusual situation, at least the first I have seen on the ASX in the last... 25 years?
A developer with excess gold stockpiled before they actually get into production, having so much ore!
I think it very wise to do the toll treatment, especially when the plant is not going to be in commercial production for another 10-12 months (i.e. 2-3 months of treating lower grade ore until the plant is humming).
I can only guess they may end up with a lot more excess ore over that time.
Do they state anywhere (or have they), about this stockpile increasing on a regular basis?

200k at 5g/t, is a decent amount of gold (approx 49k ounces).

The nearby plants would probably be very happy to accommodate. The question is... which one.
Darlot is out... it is on C&M. Agnew is also small, so... not cheap to process. Wiluna to the north is bankrupt.
Thuderbox is humming, but... do they need the extra ore? Red5 plant is hungry and possibly, the lowest cost,
Gwalia would love to have it, but... they are not cheap either, so would likely have to forgo a lot of profit, versus say Red.
DCN is desperate for ore, they just announced (coincidence?) they are looking to toll treat others ore... but... they are the furthest away, approx 230km. Pretty sure BGL will want to make the best margin... but anything is possible.



Good luck to BGL holders, if the mine meets expectations (plant and grade), then you should do well, but... after the DCN debacle, I just struggle to invest in narrow U/G deposits.