Operator: Bellevue Gold Limited
Location: Western Australia, Australia
Royalty: 2.0% NSR (all metals); 2.0% NSR (gold); 1.5% NSR (all other metals)
Term of Royalty: Life of Mine
Bellevue is an underground gold project owned by Golden Spur Resources Pty Ltd., a wholly-owned subsidiary of Bellevue Gold Limited (“Bellevue Gold”). Bellevue is located in Northeastern Goldfields, Western Australia, approximately 430 kilometers north of Kalgoorlie and 160 kilometers north of Leonora.
The Bellevue mine achieved production on-time and on-budget with its first gold pour on October 25, 2023. Underground mining at Bellevue utilizes long-hole open-stoping. The Bellevue processing facility is a nameplate 1.0 million tonnes per annum (Mtpa) conventional carbon-in-leach (CIL) and gravity plant. Ore will be predominantly derived from underground extraction with five separate work areas in the underground reflecting the new lode discoveries: Tribune, Deacon, Viago, Marceline and Armand.
Royal Gold holds a 2.0% net smelter return (NSR) royalty on all metals produced from the mining leases M36/25 and M36/299 and the exploration license E36/535, and a 2.0% NSR on gold and 1.5% NSR on all other metals produced from the mining lease M36/24.
Royal Gold acquired these royalty interests effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Gold Corporation.