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Yup, Hopefully it will be a hype train soon... GGP and GRL did it in the past I missed timed both. But this one I'm already in and waiting :D
I think so - whilst Aidan wouldn't be drawn on timelines I think that is obviously a very obvious and sensible strategy given the history and slow progress to date. I think we can all read between the lines to understand that this is going to proceed at pace now. Not only will our new JV partner have done due diligence on the mine, they will also know the process and possibly some of the key players in the Ministry of Trade, Industry and Energy in SK. The mine was only closed because it was uneconomical in the 70's - oh how that has changed and its a great opportunity for the SK government to make some money on the back of as well as provide local employment opportunities. Hopefully red tape will be cut through and we can move through the JV stages at pace - well thats my hope anyway. And then we have Kochang to look forward to - I suspect we will not have to wait for long but again perhaps just wishful thinking on my part. Strike whilst the iron is hot I say!
ATB
Alliance News Tonight
Bluebird Merchant Ventures Ltd - South Korea-focused gold company primarily focused on bringing historic mines back into production - Signs USD5 million farm-out agreement for its Gubong gold project in South Korea. USD5 million investment is by a consortium of South Korean businessmen to gain up to 60% of the joint venture established to bring the project to production. Consortium will provide JV management and finance, plus corporate and planning expertise. Bluebird is evaluating a similar deal to develop the Kochang gold and silver mine, also in South Korea.
So evaluating a similar deal - interesting wording. To my eyes that means there is deal on the table to consider and highly likely to be the same backer given the stated advantages of having a local JV partner. So given they have been looking at this for some time, why the delay in releasing the news on Kochang? One of 2 possible scenarios to my way of thinking - either they are still working the numbers on the required capital amount to bring it back into production (presumably the % split will be the same or very close) OR the delay is part of a comms strategy to maximise the news impact by spreading announcements and build on the momentum of sentiment and SP appreciation. I understand that the market needs to be told as soon as there is news but it doesn’t stop the company from delaying signing the contract to suit their comms strategy.
Any other thoughtful on the matter?
ATB
Hi JerseyCrew, Kochang has had more BMV investment and is more advanced so the other reason for the JV negotiations taking longer maybe because the % split may be different to Gubong....maybe even higher % for BMV.
Thanks Guru- very good point - cheers
Cannot believe peeps selling. Follow the money. 10 mill buy last night plus 1 million buys this morning. Mms short of stock
There will always be sellers Bobat at every level and that is ok - its a market and people take profit at different levels and % - that's natural and to be expected irrespective of potential. Its also good to have some liquidity as it gives future investors confidence in my view. I actually think that gradual increases at this stage are a good thing - no one wants the spikes and misery they can cause imo. Who am I kidding - traders love a spike if they get the timing right!
Remember some people brought at 0.6p why not de-risk youself by selling a bit? Not me!!! but still possible...
However could be false alerts.
More buys then sells and mms taking this down
I have said it before but worth repeating - think carefully before using a stop loss here - seen MM's drop the price to sweep up so many times on others stocks in the past.
These start games by the MM's do create opportunities - it was all too tempting for me!
Just spotted the 5 mil trades reported last night, interesting but can't understand why we are still down at this price with such interest..
Were they trades though that stuck? Appear to have been contras- strange
Possibly you are right! Sit tight
Peeps buying in 1 million at a go instead of 5 or 10 mill in one go. Mms will have to let this go.
Feels like a big sell order being worked upon but could be wrong
Another mill printed from hour ago
Interesting isn’t it - technical issue or a more devious reason? It was a buy.
Whatever the cause it creates a false narrative in the graph. Unhelpful.
Thankfully short term games have absolutely nothing to do with the mahoosive (my son's word) potential here. Time to cut the grass!
MM's seem to layering / posting the larger purchases across the morning to disguise the reality of a big sell being worked on - just my view at this stage until proven wrong.
Mms working to fill order. More buys then sells today and they have taken this down.
Bobcat - would you predict a buy or sell? Im thinking sell but might well be wrong.