For personal use only

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity

Bellevue Gold Limited

ABN

Quarter ended ("current quarter")

99 110 439 686

30 June 2022

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(12 months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

-

-

1.2

Payments for

(a)

exploration & evaluation (if expensed)

-

-

(b)

development

-

-

(c)

production

-

-

(d)

staff costs

(1,331)

(5,172)

(e)

administration and corporate costs

(738)

(6,590)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

62

280

1.5

Interest and other costs of finance paid

-

-

1.6

Income taxes paid

-

-

1.7

Government grants and tax incentives

-

-

1.8

Other (provide details if material)

-

-

1.9

Net cash from / (used in) operating

(2,007)

(11,482)

activities

2.

Cash flows from investing activities

2.1

Payments to acquire:

(a)

entities

-

-

(b)

tenements

-

-

(c)

property, plant and equipment

(11,976)

(24,747)

(d)

exploration & evaluation (if capitalised)

(19,437)

(77,720)

(e)

investments

-

-

(f)

other non-current assets

-

-

ASX Listing Rules Appendix 5B (01/12/19)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(12 months)

$A'000

2.2

Proceeds from the disposal of:

(a)

entities

-

-

(b)

tenements

-

-

(c) property, plant and equipment

-

-

(d)

investments

-

-

(e)

other non-current assets

-

-

2.3

Cash flows from loans to other entities

-

-

2.4

Dividends received (see note 3)

-

-

2.5

Other (provide details if material)

-

(95)

2.6

Net cash from / (used in) investing

(31,413)

(102,562)

activities

3.

Cash flows from financing activities

3.1

Proceeds from issues of equity securities

-

142,740

(excluding convertible debt securities)

3.2

Proceeds from issue of convertible debt

-

-

securities

3.3

Proceeds from exercise of options

-

30

3.4

Transaction costs related to issues of equity

(4)

(5,341)

securities or convertible debt securities

3.5

Proceeds from borrowings

-

-

3.6

Repayment of borrowings

-

-

3.7

Transaction costs related to loans and

-

-

borrowings

3.8

Dividends paid

-

-

3.9

Other (provide details if material)

-

-

3.10

Net cash from / (used in) financing

(4)

137,429

activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1

Cash and cash equivalents at beginning of

150,897

94,088

period

4.2

Net cash from / (used in) operating activities

(2,007)

(11,482)

(item 1.9 above)

4.3

Net cash from / (used in) investing activities

(31,413)

(102,562)

(item 2.6 above)

4.4

Net cash from / (used in) financing activities

(4)

137,429

(item 3.10 above)

ASX Listing Rules Appendix 5B (01/12/19)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

Consolidated statement of cash flows

  1. Effect of movement in exchange rates on cash held
  2. Cash and cash equivalents at end of period

Current quarter

Year to date

$A'000

(12 months)

$A'000

-

-

117,473

117,473

For personal use

5.

Reconciliation of cash and cash

Current quarter

Previous quarter

equivalents

$A'000

$A'000

at the end of the quarter (as shown in the

consolidated statement of cash flows) to the

related items in the accounts

5.1

Bank balances

77,431

65,824

5.2

Call deposits

40,042

85,073

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

Cash and cash equivalents at end of

117,473

150,897

quarter (should equal item 4.6 above)

6.

Payments to related parties of the entity and their

Current quarter

associates

$A'000

6.1

Aggregate amount of payments to related parties and their

310

associates included in item 1

6.2

Aggregate amount of payments to related parties and their

-

associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments

  • Directors' fees, committee fees, executive director salaries, & superannuation.

ASX Listing Rules Appendix 5B (01/12/19)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7.

Financing facilities

Total facility

Amount drawn at

Note: the term "facility' includes all forms of financing

amount at quarter

quarter end

arrangements available to the entity.

end

$A'000

Add notes as necessary for an understanding of the

$A'000

sources of finance available to the entity.

7.1

Loan facilities

200,000

-

7.2

Credit standby arrangements

-

-

7.3

Other (please specify)

-

-

7.4

Total financing facilities

200,000

-

7.5

Unused financing facilities available at quarter end

200,000

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

In November 2021, Bellevue Gold Limited executed a Project Loan Facility of $200m with Macquarie Bank Limited (MBL or Macquarie). The Project Loan Facility will be utilised for the development, construction, operation and working capital and associated costs of the Bellevue Gold Project. Note that there are a number of conditions precedent and warranties customary for the project financing facility including obtaining all the necessary project approvals, entering into key project contracts and completing the minimum hedge requirement before first draw down can occur.

The Key terms of the Project Loan Facility are as follows:

Facility Amount

A$200,000,000 (Fully Underwritten)

Tenor

31 December 2027

Repayment Period

Quarterly, March 2024 - December 2027

Interest Rate

BBSY plus 3.50% per annum pre-Project Completion and BBSY

plus 3.00% per annum post Project Completion

Early Repayment

Allowed without penalties or charges

Entry into the 135,000 oz hedging facility at a minimum hedge

price of A$2,250 and other conditions precedent and warranties

Conditions and Warranties

customary for a project financing facility including obtaining all the

necessary project approvals, entering into key project contracts

and completing the minimum hedge requirement.

Mandatory Hedging

First drawdown subject to the implementation of the Gold

Hedging Facility.

A registered first-ranking general security over all the assets and

Security

undertakings of Bellevue Gold Limited, Golden Spur Resources

Pty Ltd, Giard Pty Ltd and Green Empire Resources Pty Ltd.

ASX Listing Rules Appendix 5B (01/12/19)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.

Estimated cash available for future operating activities

$A'000

8.1

Net cash from / (used in) operating activities (Item 1.9)

(2,007)

8.2

Capitalised exploration & evaluation (Item 2.1(d))

(19,437)

8.3

Total relevant outgoings (Item 8.1 + Item 8.2)

(21,444)

8.4

Cash and cash equivalents at quarter end (Item 4.6)

117,473

8.5

Unused finance facilities available at quarter end (Item 7.5)

200,000*

8.6

Total available funding (Item 8.4 + Item 8.5)

317,473

8.7

Estimated quarters of funding available (Item 8.6 divided by

14.80

Item 8.3)

*: Note that there are a number of conditions precedent and warranties customary for the project financing facility including obtaining all the necessary project approvals, entering into key project contracts and completing the minimum hedge requirement before first draw down can occur.

8.8 If Item 8.7 is less than 2 quarters, please provide answers to the following questions:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: -

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: -

3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: -

Compliance statement

  1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
  2. This statement gives a true and fair view of the matters disclosed.

Date:

26 July 2022

Authorised by: The Board of Directors

...................................................................................

(Name of body or officer authorising release - see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An

ASX Listing Rules Appendix 5B (01/12/19)

Page 5

+ See chapter 19 of the ASX Listing Rules for defined terms.

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Bellevue Gold Limited published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 22:28:05 UTC.