• Produced 40,745oz of gold with average head grade of 4.7g/t
• Recorded record underlying free cash flow of ~$158m
• Reduced forward gold sales commitments by 32.5koz to 91.7koz

Bellevue Gold Ltd (ASX: BGL) has provided a preliminary production and financial update for the March 2026 quarter. The company produced 40,745oz of gold at an average head grade of 4.7g/t, with ore mined totaling 293kt at 4.6g/t for 44koz gold. Ore processed was 283kt at 4.7g/t for 41koz gold. Metallurgical recovery averaged 94.6% for the quarter, outperforming the recoveries used in setting FY26 guidance. Bellevue recorded record underlying free cash flow of ~$158m, before voluntary future hedge book pre-deliveries, up from $62m in the previous quarter. This was driven by the increasing grades and production. The company continued to pre-deliver gold and reduce near-term hedge book commitments, with forward gold sales reduced by 32.5koz to 91.7koz. Bellevue is now free of contractual hedge book deliveries until the end of December 2026. Cash and gold on hand increased by $16m to $181m. Bellevue remains on track to meet its FY26 production guidance of 130-150koz and AISC guidance of A$2,600-2,900/oz.

Bellevue remains on track to meet its FY26 production guidance of 130-150koz and AISC guidance of A$2,600-2,900/oz.