Capital raise - AFR article

The following just appeared in the AFR

• Bellevue Gold was readying a cash call on Wednesday, telling investors it required as much as $200 million to pay down debt.Macquarie Capital and Canaccord Genuity are joint lead managers on the deal, which is expected to launch as early as this week, sources said.Bellevue Gold’s cash call comes as gold prices have been moving around $3500. It is understood proceeds from the equity raising, which would likely be structured as a placement, will be used to settle a loan facility held with Macquarie Bank.The mooted raise comes after Bellevue, capitalised at $2.15 billion, handed down a solid quarterly report from its Bellevue Gold Project earlier this month, and as gold prices have been moving in-and-around the $3500 mark.Managing director Darren Stralow told investors on July 15 that Bellevue had recorded a “successful [June] quarter in which we ramped up production inline with our plan, met guidance and generated strong free cash flow.”“We are now well into the expansion study, which is aimed at leveraging the infrastructure we now have in place and enabling us to unlock the full value of the Bellevue asset.“The shares are up 10 per cent year-to-date and last changed hands at $1.83

What a surprise! Is this a true story?