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Bellevue Gold has major shareholder increase stake

The company recently raised $15 million in an oversubscribed share placement.
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Notably, the placement received interest from specialist global gold funds

Bellevue Gold Ltd (ASX:BGL) has had one of its major shareholders increase its holding in the company’s undiluted total shares to 9.85% from 8.09%.

Bank of Nova Scotia and associated parties and affiliates acquired an additional 7.058 million shares at 34 cents taking its total holding to 39.558 million shares.

READ: Bellevue Gold secures $15 million after strong demand in placement

Bellevue recently raised $15 million through the placement of 45 million shares priced at 34 cents to sophisticated and institutional investors.

Funds raised will be used for ongoing exploration at the flagship Bellevue Gold Project in Western Australia where the gold resource was recently increased to 1.04 million ounces grading 12.3 g/t gold.

The company aims to unlock the potential of a historic high-grade gold mine.

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