I flagged up HERE that shortly before disappointing news from Korea a block of 10 million shares in Bluebird Merchant Ventures (BMV) went through at below market prices. We know, thanks to a TR1, that the seller was Southern Gold and I know, thanks to a party close to the company, that its executives had been made insiders. Now the trade has been reversed. Surely that is an admission of guilt?
Bluebird Merchant Ventures (BMV) has announced that it has raised £1.215 million at 2p per share “to fully fund proof-of-concept production at its Kochang gold and silver mine in South Korea, expand the in-country team to accelerate developments at both of its mines, and for general working capital”. With the equity raise shares also with 3 year warrants at 3.5p and the shares at 2.15p before this latest, is it good news?
Bluebird Merchant Ventures (BMV) states that it “is delighted to announce a Scoping Study for its Kochang and Gubong gold projects in South Korea” and the shares have currently responded up to just above 2p. But there looks clear potential for much more to come.
Bluebird Merchant Ventures (BMV) states that it is delighted to announce that it has signed an agreement with a Philippine company, whose owners have decades of experience in mining, to develop the high grade Batangas gold project in the Philippines.
I am as frustrated as the rest of you by the failure of the share price of Bluebird Merchant Ventures (BMV) 1.725p, a £10.7 million market cap, is far too low if, I repeat, IF, it delivers what it has promised in South Korea and the Philippines. But this is a mining junior and IF is the operative word. IF it delivers I see these shares heading to 4p+ so I asked the company what was not happening.
Bluebird Merchant Ventures (BMV) has announced it has raised £0.23 million at 2p per share and opened discussions with a streaming fund for the entire capital needed for the development of the high grade Kochang gold and silver mine.
Bluebird Merchant Ventures (BMV) has issued an update after a management trip to South Korea and having also further progressed local partner negotiations in the Philippines.
On Friday we wrote an article HERE on 4 shares we thought could double by Christmas. One of the four is Bluebird Merchant Ventures (BMV) at a 1.8p offer.
Writing on Bluebird Merchant Ventures (BMV) last week we noted, with the shares at a 1.4p offer price, that upcoming “advancing/monetising” news from the Batangas project in the Philippines should help the shares as well as progress in South Korea. Now there has been a Batangas licence extension announcement and the shares currently up to a 1.6p offer price – and there should still be much to come.
Bluebird Merchant Ventures (BMV) has announced it has opened discussions with potential partners to develop its high grade Batangas gold project in the Philippines and that it is in South Korea this week to finalise the plan to fulfil qualifying spend in accordance with 20-year mining licence terms there. These are encouraging from a current 2.15p share price, below £14 million market capitalisation, here.
Bluebird Merchant Ventures (BMV) has announced that work has suggested ore inventory and future production may be larger than previously expected at its Kochang project.
Just a few caveats. Align Research is paid to pump out the research below. Align and its boss, Richard "nobody likes me and I don't care" Jennings own shed loads of shares in Bluebird Merchant Ventures (BMV), and the "analyst" is disgraced, journalist smearing, part time PR man, the vile and repellent Dr Michael Green. Dr Green should not be allowed to work in financial services after his crimes as an enabler of the fraud Sefton Resources (SER). Having said all of that, I too have an interest in these shares and reckon they are cheap. Are they worth 9.58p as the ludicrous Green suggests? Er no. But could they double? Yes. And the note below explains why.
Bluebird Merchant Ventures (BMV) has announced sample results from South Korea, which, it emphasises, confirm that it is on the right path to 'proof of concept' gold production.
Previously updating on Bluebird Merchant Ventures (BMV), we noted clear upside potential on production, but also challenges to get there – significantly financial. Now, though, it has announced a “Funding package to accelerate move to production”.
