Bellevue Gold Reports $62.6M Operating Cash Inflow, Reduces Debt to $100M
Bellevue Gold Limited reported a robust cash flow and significant debt reduction in its December 2025 quarter, ending with a strong cash position of A$165.1 million. The company made early principal repayments on its project loan facility, lowering outstanding debt to A$100 million.
- Net operating cash inflow of A$62.6 million for the quarter
- Early principal repayments totaling A$125 million on project loan facility
- Outstanding debt reduced to A$100 million with no new equity issued
- Capital expenditure includes property, plant, equipment, and exploration
- Cash balance increased to A$165.1 million at quarter end
Strong Operating Cash Flow
Bellevue Gold Limited has demonstrated solid financial discipline in the December 2025 quarter, generating a net cash inflow of A$62.6 million from operating activities. This reflects ongoing strength in the company’s core operations and underpins its capacity to fund development and exploration without immediate reliance on external equity.
Significant Debt Reduction
During the quarter, Bellevue made a voluntary early principal repayment of A$112.6 million on its project loan facility with Macquarie Bank, bringing total repayments to A$125 million. This has reduced the outstanding principal to A$100 million, a substantial improvement in the company’s leverage position. The loan facility, originally sized at A$200 million and fully drawn, now carries scheduled repayments starting in March 2027, easing near-term financial obligations.
Capital Expenditure and Investment
Capital expenditure for the quarter included payments of A$4.2 million for property, plant, and equipment, alongside A$42.7 million capitalised exploration and evaluation costs. These investments highlight Bellevue’s commitment to advancing the Bellevue Gold Project and sustaining its exploration pipeline, essential for long-term growth and resource expansion.
Liquidity and Financing Position
The company closed the quarter with a robust cash balance of A$165.1 million, up from A$152.8 million in the previous quarter. No new equity or convertible debt securities were issued during this period, indicating a preference to optimise existing financing arrangements. The fully drawn loan facility with Macquarie Bank remains in place, with key terms including an interest rate of BBSY plus 3.5% and no penalties for early repayment.
Governance and Compliance
Bellevue disclosed payments totaling A$484,000 to related parties, primarily directors’ fees and executive remuneration, maintaining transparency in governance. The company confirmed compliance with Australian accounting standards and ASX listing rules, providing assurance on the integrity of its financial reporting.
Bottom Line?
Bellevue Gold’s strong cash flow and proactive debt reduction set a solid foundation for its next growth phase, but investors will watch closely for how capital expenditure translates into production milestones.
Questions in the middle?
- How will Bellevue balance ongoing exploration spending with debt repayments in 2026?
- What impact will scheduled loan repayments starting in 2027 have on the company’s cash flow?
- Are there plans to raise additional equity or debt to accelerate project development?
