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Hi Charles - the RNS states:
Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, is delighted to announce that it has signed a US$5 million Farm-out Agreement for its high grade Gubong Gold Project ('Gubong' or 'the Project') in South Korea ('the Agreement' or 'Farm-out').
I think the ink is on the contract.
I do agree that there isn't actually any ink on this agreement as yet. But I agree with Jersey that this wouldn't have been put out unless they were 99% certain.
I actually think the lack of a signed deal is holding this back to a degree. Will fly when signed!!
JWB - just noticed the posts for 2 X 3M purchases - do you still think rollover?
The way that I am reading this JWB is that the stages and financial tranches are in line with the work that is required to be undertaken. Just my personal view. As for not knowing who they are - we have to trust the BoD to do the due diligence - these will be professionals known to the board. What would we do with the information if we had their names? Start google searches?
Thanks for the rollover info.
ATB
Not posted yet - but if I reading google finance graph correctly....
3 & 5 mill buy at full ask there.
You do seem to have a downer on BMV - couple of observations:
- to get an RNS out you have to get it agreed by the Nomad - they can't just make stuff up
- we don't need to know names at this stage -the BoD are there to complete the due dilliengce as t their capacity too fulfil their obligations
- The SP has languished because of a lack of progress - do you think that there new JV partner hasn't done their own due diligence and are proceeding with a high degree of confidence? Reread the wording in the RNS I suggest
- Can you imagine the upside to the SP when permits are granted? Its part of the risk reward play here and part of the reason the current MCAP is so slow.
- Why wouldn't permits be agreed? If SK were anti mining this would have been shot in the paddock years ago. There might be hurdles of course but aren't there in any business transaction? The SK Nationals are there to unlock and overcome.
They have been looking at this for years .... you?
Korean Businessmen aren't concerned with their $5m... investment
Read the rns. All good.
One of the key reasons for the JV with SK nationals and the added benefit of their cash and a free carry ......
We believe that our partner's willingness to enter into a formal agreement and invest significant capital, currently more than our market cap, emphasises that the right path has been identified and that together we can bring Gubong into production. Importantly, being South Korean nationals, its team better understand the local, district and national geo-political environment and can ensure all stakeholders are supportive while we will continue to provide the technical knowledge to drive value.
Put it this way - I researched the company a while back and had it on watchlist ..when I saw the farm out news looked at it again ..thought I’ll take some and was expecting to see something like a £15m mkt cap (before taking into account farmout) so I think this has a long way to go and am well chuffed to get in at these prices
If it's not today it will be another day for a rerate definitely nearly 100% increase if it hits 1.2p+
Personally whilst I think that news will be coming in the short term - for me based on the current news we are still very undervalued.
Looks ready for the next leg up.
Just natural rerating is happening and will continue to …doesn’t need news everyday
Hope it continues! News maybe
I'm still waiting on the large trade to show - I had thought it was a sell but looks like I was wrong. Suspect we will see a big ticket close to or after close. It would explain a lot.
Might get Tr1 on buyer who has been loading up during the week
Pop 1.03
The farm out news has been the news we have been waiting for for a few years now - I'm sure that there will still be games like this morning to come again but just wait when the next RNS drops on Kochang to really consolidate and take this back to more sensible heights.
DYOR - its all out there to view.
It just looks very cheap and clearly was un loved ..and oversold over time …mkt cap has a long way to go with what it’s got and where it’s going ..and the farm out news was the trigger for me
Once 1p is broken there will be no holding back. Year high was 1.5 last year in May.
Monkey moo. -Hopefully we will get more good news. You will be well rewarded
Bought 5.8 million shares in chunks …looking forward to next few years and to 10 bag ..gla