I just despair of the UK regulator at this point. After hours Bluebird Mining Ventures (BMV) finally published a prospectus that will allow it to issue a gazillion more shares and yet again its CEO Sath Ganesarajah has welched on an RNS commitment meaning that he us again shown to have created a false market in the shares.
Following the publication of the loan agreement between Sath Ganesarajah’s Skylake Management LLP and Bluebird Mining Ventures (BMV) on Christmas Day I have been contacted about Sath’s main UK company The BE Company of the United Kingdom Limited.
The document below fell into my hands via the Winnileaks service last week but I thought I’d save it for Christmas Day as the FCA should be all over a £1 million fraud against investors by the CEO Sath Ganesrajah and seemingly aided by the rest of the board. That fraud has seen investors lose 90% of their cash.
I have again written to the FCA flagging up that at the very least Bluebird Mining Ventures (BMV) CEO Sath Ganesarajah has breached the rule book in welching on a two million pound loan commitment – something that has cost we investors 90% of our money.
I wrote to the FCA yesterday asking for an investigation into the £2 million loan convertible at 2p Sath Ganesarajah pledged to provide to Bluebird Mining Ventures (BMV) in June. Yesterday he reneged on that and instead there was a bailout placing at just 0.15p meaning that those who bought on the back of the RNS pledge now sit on 90% losses. It gets worse.
Having spoken to folks who have seen the loan documentation between Sath Ganesarajah and Bluebird Mining Ventures (BMV) I have written to the FCA
In June Bluebird Mining Ventures (BMV) announced that its CEO would be putting in a £2 million loan with 0% interest rates convertible at 2p. The first tranche would be paid over “immediately.” The shares headed up to and above a guided NAV of 1.5p. The money never came despite repeated assurances that it would. And now it has been cancelled.
Another day and another operational update arrives from Bluebird Mining Ventures (BMV) with more horse from CEO Sath Ganesarajah assisted by turd polisher, evil genius PR spinner Harry Chathli of Technology Minerals (TM1) infamy.
Bluebird Mining Ventures (BMV) had previously disappointed us with failure to secure planning permits for mines in South Korea. However, it was a 0.5p offer price BIG average down call for 2025 in June as all changed. What now of a latest “Operational Update” and the shares falling back to below 0.7p?
Bluebird Mining Ventures (BMV) has issued a “Funding Update” announcement commencing with that it “is very pleased that further to the company’s announcement dated 25 June 2025, the company has executed a £2 million investment agreement with Skylake Management LLP”. With the shares currently responding higher in response, the following is why the announcement has pleased.
Bluebird Mining Ventures (BMV) states that it “is pleased to provide an update on its ongoing corporate development and capital formation strategy”. However, with the shares slightly down in response at 1.065p, what is the current outlook?
Bluebird Mining Ventures (BMV) has announced its results for the first half of 2025, stating that the period “could be summarised by positive developments in the Philippines; disappointment in South Korea; and a strategy upgrade that holds the promise of a brighter future”. The net effect of that looks to merit a materially higher valuation than a 1.255p share price, £10.8 million market cap.
We previously wrote cautiously on a move by Bluebird Mining Ventures (BMV) to acquire some Bitcoin Mining Machines and it is now “pleased to announce… the completion of a transaction to acquire 756 ASIC bitcoin mining units, comprising a mix of Bitmain and Canaan models with a combined total hashrate of approximately 63.7 PH/s”. However, there is further news which is much more pleasing to us.
Bluebird Mining Ventures (BMV) has announced “Philippine Project Agreement Signed”. With this emphasised as “a positive step forward in positioning the company to potentially receive substantial future revenues in perpetuity over the life of the mine”, what does it suggest from a 1.10p share price, £9.5 million market cap?
