Bellevue Gold is listed on the ASX with a market cap of $2,4 billion.
It is in the early stages of ramping up production of its Bellevue project towards 170,000 ounces per year.
Reserves are 1.34 m tons and Resources including Inferred of 3.1 m tons at an average grade of 9.9 grams per ton.
It is highly rated by analysts because of its ability to move quickly and efficiently from discovery to production ( 4 years )
It is also the parent company of Firefly which now owns the Ming copper mine on the Baie Verte Peninsula..
It has many attributes similar to NFG in its very high grade assay results which can be viewed in the CP link below ....note that all five current mining deposits have exceptional intercept grades and that these are open at depth and strike ...again very similar to NFG in potential exploration upside.
Note though how early production has boosted its 3,1 m ounce resources to $800 market cap per ounce and its 1.34 m ounce reserves to nearly $1700 market cap per ounce .
Bellevue is an excellent example among many others of just how much production boosts the market cap and valuation multiple, relative to an exploration play lacking a MRE and unstated production timeline.
Imagine just how much our valuation would jump if NFG announced early production of QW north based on an MRE of 3 m ounces including Inferred..
FWIW
GLTA
https://wcsecure.weblink.com.au/pdf/BGL/02786335.pdf