2216 GMT - Investors now understand and have priced in Bellevue Gold's operational difficulties of 2024, says Barrenjoey, upgrading the miner to neutral, from underweight. Bellevue Gold's share price has declined some 35% since July, underperforming the gold price and the ASX Gold Index, and analyst Daniel Morgan thinks operational delivery will be the key debate over the next 12 months. Investors will look for evidence that the mine turned the corner on both mining volumes and grade. "We think there are signs of improvement in development meters which should, with a lag, lead to better mining outcomes in 2025," Barrenjoey says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 02, 2025 17:16 ET (22:16 GMT)
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