How Bellevue Gold’s $112.6M Early Debt Repayment Reshapes Its Financial Future
Bellevue Gold Limited reported robust cash flow for the September quarter, enabling a substantial early repayment on its project loan and maintaining a strong cash position.
- Net operating cash inflow of A$53.7 million for the quarter
- Early principal repayment of A$112.6 million on project loan facility
- Outstanding debt reduced to A$100 million with no penalties for early repayment
- Cash and cash equivalents at A$152.8 million at quarter end
- Fully drawn $100 million loan facility with Macquarie Bank, repayments starting 2027
Strong Cash Flow Performance
Bellevue Gold Limited has delivered a solid financial performance in the quarter ended 30 September 2025, reporting net cash inflows from operating activities of A$53.7 million. This positive cash flow reflects the company’s ongoing operational strength amid its gold exploration and development activities.
Operating expenses included exploration and evaluation outlays of A$62.1 million, staff costs of A$12.9 million, and administration expenses of A$2.6 million, underscoring the significant investment Bellevue continues to make in advancing its projects.
Debt Reduction and Loan Facility Update
In a notable move to strengthen its balance sheet, Bellevue made a voluntary early principal repayment of A$112.6 million on its Project Loan Facility with Macquarie Bank. This repayment reduces the outstanding principal to A$100 million, down from previous levels, and was executed without incurring any penalties or charges, highlighting the flexibility of the loan terms.
The loan facility, originally established at A$200 million and supplemented by an additional A$25 million in 2023, is now fully drawn at A$100 million. Scheduled repayments of A$25 million per quarter are set to commence in March 2027, providing the company with a clear and manageable debt repayment timeline.
Liquidity and Funding Position
Bellevue’s cash and cash equivalents stood at a robust A$152.8 million at the end of the quarter, ensuring ample liquidity to support ongoing exploration, development, and corporate activities. The company’s capital expenditure included A$6.8 million on property, plant, and equipment, alongside A$365,000 on exploration and evaluation capitalised costs.
Payments to related parties, including directors’ fees and executive salaries, amounted to A$459,000 for the quarter, reflecting standard governance disclosures.
Outlook and Financial Discipline
With a strong cash position and a significant reduction in debt, Bellevue Gold appears well-positioned to continue advancing its Bellevue Gold Project. The company’s disciplined approach to cash management and debt servicing provides a degree of financial stability that should support its strategic objectives in the coming quarters.
Investors will be watching closely for updates on production milestones and further financial developments as the company progresses toward scheduled loan repayments starting in 2027.
Bottom Line?
Bellevue’s proactive debt reduction and strong cash flow set the stage for a more resilient financial footing ahead.
Questions in the middle?
- How will Bellevue allocate its strong cash reserves in the coming quarters?
- What impact will scheduled loan repayments starting in 2027 have on cash flow?
- Are there plans for further capital raising or debt refinancing beyond current facilities?