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I have been here for a few years now. Disappointed at the slow progress to date. Lots of potential but no indication on timescales. Long term hold and hope for me.
Here's the correct vid
https://www.proactiveinvestors.co.uk/companies/news/1045078/bluebird-merchant-ventures-advancing-gold-mines-in-the-philippines-and-south-korea-1045078.html
Gold at ATH and looking good for any number up to $2700 in 2024 but even if it just stays at 2K the costs involved in Korea are so low.
GLA
Interesting part was that unlike the Batangas agreement, this will be a JV upto first production.
This interview comment interesting,
It’s a local business man with diverse business interests.
Any clues to who he is, thinking as JV partner is an individual - if it’s going to happen it will get signed off quickly, let’s await the terms of the agreement, though thinking will be positive and we will see things moving in the right direction.
How much do you think Batangas alone worth any ideas?
@Capt_kurt Yeah he said something else in the interview as well that definitely gave off that aspect... AB: "I think as well I mean the MTUPs Of course they are important but it's not binary to say oh if you don't get them it's all over that's not really true because we've already got mining rights"
I've followed this since it exploded on HL at 4p... brought a bit and left but still kept my eye on it... then came back heavy last year cause it looks good and it still looks good! I suspect it is politically difficult now which is why I'd prefer a JV with a Korean Investor. So truth be told I prefer this news to any attempted dilution...
DYOR IMO, my avg price 0.08
Yes, agree, interview was open and informative, defo worth a 2nd listen, some interesting points about potential of Kochang also being farmed out with a JV local firm.
All three projects are substantial in size, only need one to start mining and we are sitting on a GOLD MINE.
Good interview. Batangas alone is worth the current market cap. Anyone that’s been involved in submitting a planning application knows how slow and frustrating the process is, so I’m not surprised at any delays.
Hmmm why mention if they don't get the mountain use permits first time.
Sounds like we are being prepared for bad permit news
It sounds to me like they thought they did everything right, hit a brick wall and need to have someone local to grease the palms of government... Someone mentioned awhile back that BMV were in talks with someone, so that is what they must of been on about...
but yeah this is going to be another 2 years before it explodes if were lucky...
Sounds a lot of waffle to me with really very little detail offered by AB despite pertinent questioning from the presenter. I can't help thinking that another placing is on the cards. Currently down 80% on this so would be nice to be proved wrong!
It’s nice to see some media but considering the RNS last July said the Koh Chang MTUP process was ongoing and at Gubong “the Board decided that the best course of action re the advancement of Gubong, was to pause the submission and identify a local partner to jointly develop the larger of its two projects”, without having a deal finalised with a partner, it looks like there’s been no advancement in any of the projects in all that time.
On the bright side, gold is hovering around $2300/oz. Might be even higher by the time this lot get into production.
The source would be TW's website share prophets. I wrote...
"I hear that TW at share prophets"
Sorry thought I didn't imagine needing to explain that bit. It's not helpful that lse does not allow me to send a link
Source?
"I hear that TW"
I hear that TW at share prophets has been made an insider at BMV ahead of yesterday's vague RNS.
Of course it would be illegal for TW to recommend buying or selling on the basis of insider info and I am sure he is experienced enough to abide by the rules.
But, imagine the possible conversations between BMV and TW. Was it something like...
"Hey Tom, I am making you an insider and need to tell you we're doing a really $h1t deal in Korea which may bankrupt us"
...or...
"Hey Tom, I am making you an insider and need to tell you we're doing a really exciting deal in Korea"
If it was along the lines of the former, would BMV be taking time to contact TW to make him an insider? You decide.
GLA
That was a nothing RNS, smells of desperation to try and get the share price up. A bit concerning and they are clearly have problems getting the permit.
RNS From mid April 2023 mentions Mountain Temp Use Permits, any other updates since then?
As part of the normal process to expedite production development plans, commencing with groundwork for proof-of-concept mining at Kochang and early development work at Gubong, the Company applied at the end of last year for Mountain Temporary Use Permits ('MTUP'), having already been granted Extraction Permits by the relative provincial governments.
The Company's in-country advisers had been informed that the granting of the MTUP at Kochang was imminent, with all legal obligations covered. The Board has now been made aware that greater detail is required within 90 days for the measures to reduce the risk of environmental impact and to conduct a successful wider community consultation and gain of support beyond the immediate area, which unfortunately means that local politics will come into play over which the Company has no part. As such, the relevant authority cannot issue the MTUP at this time.
All that matters is the MTUP .
Without that they are toast
South Korea Update - JV model approach for South Korean gold mine
Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, is pleased to announce that its management has just completed a round of meetings with a South Korean entity regarding a partial farm out and free carry to production for the Company's 100% owned Gubong Gold Mine ('Gubong').
Gubong, the larger of the Company's two 100% owned gold mining projects in South Korea, was historically the country's second largest gold mine and where the Korea Resources Corporation estimated a resource of 2.34 million tonnes at c.7.3g/t Au garnered from 57 drill holes over 17,715.3 metres. It is an orogenic deposit, which typically have depths of up to 2km compared to Gubong's current defined depth of only c.500m which translates into significant potential upside. The value of Gubong and the Kochang Gold and Silver mine ('Kochang'), the smaller of the Company's South Korean projects, was highlighted in a Scoping Study published in 2023, which included a post-tax NPV of US$181 million, free cash flow of c.US$50 million per annum, an IRR of 111% and a US$630 per oz All in Sustaining Cost ("AISC"). The study was conducted on a US$1,750 per oz gold price compared to the current price of c. US$2,200 per oz.
The JV model structure has already been implemented at the Company's Batangas Gold Project in the Philippines, where an Environmental Impact Study is presently underway and is fully funded by a local group with decades of experience in mining.
With regards to Kochang, the Board has also consulted with its legal advisors on the Board of Audit and Inspection process and has been informed that the review is still being processed.
Bluebird CEO Colin Patterson said, "The team was on the ground last week and concluded highly positive meetings with the South Korean entity, with whom we have been working informally over the last year, regarding the optimal collaborative structure for the development of Gubong. Drawing from our successful experience in the Philippines, we are convinced that the discussed JV model, which would secure a free carry for Bluebird to anticipated production, is the optimal structure to unlock value. We remain confident of finalising a comprehensive agreement in the very near future and thereafter delivering hoped for transformative returns to our shareholders."
Its been a year no TMP . what a waste of time
Lots of 2 million trades,buys?
I cannot see how they'd consider that, they have all taken pay cuts and increased their cash position last year... so until we have the mining permit something like that would be pointless the share is already at rock bottom... if that is the case it could be a sunk ship. So I very much hope you are wrong. I'll be holding my position.
DYOR.
TW seems to think BMV is low on cash and a placing is coming ?
Any thoughts ?