De Grey Mining (ASX:DEG) is one of the best resources success stories in the last decade in the ASX resources sector. It has never looked back since the discovery of the Hemi deposit in WA that has over 10Moz and is set to be a top five Australian gold mine.

The Ore Reserve is 6.0Moz @ 1.5g/t gold and could produce 5.7Moz over 12 years, equating to over 500,000 ounces per annum. It would deliver $4.5bn in free cash flow after tax, a payback of less than 2 years despite a capital cost of nearly $1.3bn. And it is set to begin production in the second half of CY26.

The DFS showed an NPV of $2.9bn post-tax, representing an IRR of 36% at an AISC of $1,295/oz over the first 10 years. The total evaluation period economic contribution is a staggering $10.8bn. Construction has not yet begun, although all necessary approvals are expected in time to start full construction in the second half of this year.

Bellevue is Australia's newest gold producer, entering production barely 7 years after stumbling across its namesake project.

It has Total Mineral Resources of 9.8Mt at 9.9 g/t for 3.1Moz of gold. 1.7Moz of this is Indicated with the balance inferred. This makes it one of Australia’s highest-grade gold mines. Production has just begun. The company forecasts a 10 year mine life and for $2.1bn of free cash flow, assuming a gold price of A$2,500/oz. This is the stuff dreams are made of.

The company prides itself not just on its ‘rags to riches’ story but how it is fully funded with A$133m in liquidity and has a solid ESG angle. It is aiming for Net Zero by 2026, to be 70-80% renewable energy powered and it has signed appropriate agreements with local Indigenous landholders.

Production began in late October 2023 with the first gold pour. Again, BGL has never looked back. BGL has issued guidance of 75,000-85,000oz production for the first six months of CY24, along with positive free cash flow, and confirmed earlier this week that it is on track to achieve this.

This company is one of the best performing gold stocks with a 1390% gain in 5 years, all thanks to a pair of projects in WA, Karlawinda and Mt Gibson. It has produced over 120,000 ounces from the former alone in FY23, at a ASIC of US$1,208/oz. It is hoping to do the same with Mt Gibson, a historic gold mine that had been mothballed for 30 years due to low gold prices in the 1990s.

It has made a Maiden Ore Reserve Estimate (ORE) of 1.45Moz at Mt Gibson and told investors it could be a case of the sequel being just as good as the original. Yes, it used those exact words at its AGM last year, noting it has larger Mineral Resources and Ore Reserves, a similar open pit mine life, metallurgy, physical ore properties and material movement volumes.