I have enjoyed reading the excellent slide information provided...

I have enjoyed reading the excellent slide information provided by Bellevue (BGL) ahead of their $150 million capital raising on Tuesday.
What a great job those gents have done resurrecting that historic mining area.

BGL has a 1.2 mtpa (upgrading to 1.6 mtpa) plant and expects to produce around 160,000 ounces at a ~$1500 + margin over the next 12 months.
BGL enjoys a market capitalisation of ~$2.2 billion and retains some residual debt
BGL has had to do a great deal of surface drilling to define a healthy resource picture and will in future turn attention to drilling from underground to materially reduce costs of doing so.

OBM also has a 1.2 mtpa plant being up graded to 1.4 mtpa over the next 4 months, and they expect to produce gold at the rate of 150,000 ounces per annum within a 12 months timeframe, at a margin similar to BGL.
OBM has a market capitalisation of ~$800 million and no material debt.
OBM has defined mineralisation open in all directions at Riverina North, Riverina South and Sand King.
OBM also owns 100% of an extensive historic gold belt and a JV with Wesfarmers on other minerals. This defined resource picture will be expanded materially as OBM spends the budgeted $30 -$60 million on underground exploration drilling over the next 6-18 months.

Both companies will no doubt prosper in the exciting gold environment I expect ahead, but this comparison exercise has given me great confidence that I’m on-board the right ship.

The market rewards sound growth and I can’t think of too many other gold producers that expect to double production and materially reduce costs like OBM will be.