Bellevue on Track to Meet FY26 Production and Cost Guidance

16 June 2026 | Western Australia - Bellevue Gold has reported consistent operational performance at its Bellevue Gold Mine, with the company saying it is on track to meet FY26 production and cost guidance.

Bellevue said April and May 2026 production totalled 28,100 ounces of gold at an estimated head grade of 4.6 g/t gold. Production for the 11 months to 31 May 2026 was approximately 130,000 ounces, compared with FY26 guidance of 130,000 to 150,000 ounces.

The company said this performance positions it to beat the midpoint of FY26 annual production guidance and meet all-in sustaining cost guidance of A$2,600 to A$2,900 per ounce. Bellevue said the result reflects its target of consistently producing around 40,000 ounces per quarter, now that all five key mining areas — Deacon, Deacon North, Marceline, Viago and Tribune — are established.

Bellevue also said its mining contractor transition remains on track, with the handover from Develop to Barminco scheduled for 1 August 2026. The company said transition planning has covered workforce, equipment, systems, operational readiness and production stability.

Why it matters: Bellevue’s update points to a maturing underground gold operation that is moving from ramp-up into more consistent production. Meeting production and cost guidance would be an important milestone for the company, particularly while also managing a contractor transition and continuing growth capital works.

The company also reported encouraging early results from underground extensional drilling at Tribune South, where three holes intersected visible gold mineralisation. Assay results received to date include:

• 3.50m at 44.96 g/t gold
• 1.71m at 7.80 g/t gold
• 7.00m at 4.00 g/t gold
• 1.61m at 3.20 g/t gold

Bellevue said the Tribune South drilling is targeting southern extensions of the Tribune line of lode and is designed to define a potential new independent mining area. The company said the underground infrastructure from the Tribune Box Cut is designed to support additional tonnage if further discoveries are made to the south.

A sixth underground diamond drill rig is expected to arrive on site in coming weeks to support increased underground exploration drilling in FY27. Surface drilling is also continuing, with downhole electromagnetic surveying underway to help target sulphide-rich zones that host higher-grade mineralisation.

Bellevue said construction of its paste plant has commenced and remains on schedule for commissioning in the March 2027 quarter. GR Engineering is on site, with initial foundations and the base of a 2,000m³ tailings holding tank now in place.

The company also continues to reduce its hedge book, holding 17,800 ounces of gold at the end of May 2026 reserved for voluntary pre-delivery into forward sale commitments by the end of the June quarter. Bellevue is targeting a reduction in its hedge book to 65,000 to 70,000 ounces by quarter-end, down from 91,700 ounces at 31 March 2026.

Managing Director Darren Stralow said Bellevue’s FY26 progress was in line with the company’s goals of delivering against guidance, de-risking through hedge book pre-delivery and unlocking exploration opportunities at the mine.

For Western Australia’s gold sector, Bellevue’s update highlights continued strength from established high-grade underground operations, with near-mine drilling, infrastructure investment and production consistency all supporting future growth.

Source: Bellevue Gold ASX announcement, “Consistent performance puts Bellevue on track to meet FY26 production and cost guidance”, 16 June 2026.