Bluebird Merchant Ventures (BMV) has announced a progress update from Kochang in South Korea. It is …getting there...
Bluebird Merchant Ventures (BMV) has updated that it has delivered “the final deliverable needed for the formation of the 50:50 joint venture with Southern Gold” and that the work “supports its previously stated view that the establishment of a low capital cost mine at Gubong is achievable”…
Before you consider the latest news from Bluebird Merchant Ventures (BMV) just consider that, at 2.8p-3p, the market cap is a paltry £5.36 million. Bluebird has more than one asset but focus on just one for now: Kochang, where it has now formalised a 50/50 JV with Aussie based Southern Gold.
Bluebird Merchant Ventures (BMV) has announced further results from underground channel sampling at Kochang on in-situ ore left behind by the original miners – including emphasising “the samples show positive indications of high average gold and silver grades” and “orogenic deposits typically extend over 1 kilometre in depth and Kochang has only been developed to a depth of 150 metres”…
Previously writing on Bluebird Merchant Ventures (BMV) last week, we noted there looks news flow aplenty to potentially spark the shares – and now there’s an announcement of Kochang Underground Grab Sample Results…
Bluebird Merchant Ventures (BMV) “is pleased to announce excellent results relating to the initial metallurgical test work conducted on ore from Adit 4 at the Gubong mine”…
Bluebird Merchant Ventures (BMV) has announced from the Gubong project “results from the water discharge have been certified to show no heavy metals proving the effectiveness of our water treatment plant”, reinforcing “strong community and government support for the reopening”…
We own shares in Bluebird Merchant Ventures (BMV) and have done since its IPO. It has been a bumpy ride but things are now going very much the right way and at c3p they are very cheap. Here is Charles Barclay to explain why.
Bluebird Merchant Ventures (BMV) has updated on ongoing progress at the Gubong and Kochang gold/silver projects – featuring water treatment and metallurgical test work for the former and assays for the latter…
In tandem to completion of the required farm-in expenditure of $500,000 at the Gubong mine, Bluebird Merchant Ventures (BMV) has announced signing of the joint venture agreement.
Okay, Bluebird (BMV) is a corporate client of broker SP Angel so take this report with a pinch of salt but analyst John Meyer is no fool - although he sometimes lacks a sense of humour. And the 24 page report is very detailed. And of course we own the shares and I do think they are cheap at 3.8p although I'm not sure that i am as optimistic as Meyer. Anyhow, he is the expert and writes:
Bluebird Merchant Ventures (BMV), has served up more good news from the land of the dog eaters, that is to say South Korea.
Bluebird Merchant Ventures (BMV) has updated including “there is little doubt that the programme for Kochang has been accelerated in the past week and that the potential to complete the transition to a Joint Venture could be completed within the next six months resulting in a decision to move into construction of the mine. This also allows the company to expand its programme on the far larger project at Gubong which still has the potential for a company maker”.
Bluebird (BMV) really is on a roll in the land of the dog eaters, now announcing that it has signed a deal to develop and reopen a second gold and silver mine. The deal is that once Bluebird has spent $500,000 it can a 50% stake in the Kochang mine currently owned 100% by Southern Gold Ltd. There are some preconditions like South completing a A$250,000 placing but assuming the deal goes ahead it looks interesting...
Bluebird Merchant Ventures (BMV) has announced results of 'grab samples' after engineers gained entry into the old workings at Adit 4 and from spillage in Decline Shaft 2 at the Gubong gold mine - the results “indicating that a significant amount of gold remains unmined at Gubong”...
Bluebird Merchant Ventures (BMV) has updated emphasising “CEO, Colin Patterson, has committed to personally fund the Gubong project through to completion of the Report on Feasibility to re-open the Gubong mine”, “‘soft loans’ of USD 500,000 made to the company by management and key associates have been extended” and “assay results from underground and surface sampling are expected in early January”…
I thought I would give Bluebird Merchant Ventures (BMV) a couple of weeks’ grace to come clean before getting stuck into what I perceived to be a classic piece of BS in its recent RNS relating to the delay in getting its results out leading to a “temporary” suspension. Time's up.
