Outgoing Bellevue Gold boss Steve Parsons is promoting half of his $37 million stake within the miner, simply hours after the announcement of his departure from government duties.
Sources have confirmed Mr Parsons is behind 17 million shares supplied at $1.05 apiece by a block commerce late on Monday.
Earlier within the day, Bellevue introduced that Mr Parsons would step down after six years as managing director on March 1, to get replaced by Darren Stralow, Bellevue’s chief government since December 2021.
At his final disclosure in late-January, Mr Parsons held 34.06 million shares and 10 million efficiency choices.
Bellevue stated he would stay with the group as a non-executive director, saying it was the correct time for him to transition out of government ranks having guided the corporate to the brink of manufacturing.
“On behalf of the board, I want to thank Steve for the distinctive job he has completed in turning our Firm from what was not far more than a shell with a mothballed asset into Australia’s subsequent main gold producer,” chairman Kevin Tomlinson stated.
Mr Stralow will begin on an annual wage of $675,000 and obtain 2 million loyalty and efficiency rights.
The vesting of the a million retention rights shall be conditional on Mr Stralow remaining with the corporate till February 2027 and its mine attaining set manufacturing targets.
The Bellevue mine, north of Leinster, will produce greater than 200,000 ounces of gold a 12 months in its first 5 years.
Bellevue shares closed at $1.11.
