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Pin to quick picksBluebird Mer Share News (BMV)

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Bluebird Merchant Ventures Gets Permit To Develop Gubong Mine

Tue, 10th Sep 2019 12:56

(Alliance News) - Bluebird Merchant Ventures Ltd said on Tuesday it has received confirmation that the "Permit to Develop" the Gubong mine has been granted.

Bluebird expects to receive the formal permit soon and will update the market in due course. The "Permit to Develop" is the first to be issued for a gold development project since Ivanhoe Mines was issued a permit in the 1990s, Bluebird said.

"This is a transformational event for Bluebird with approvals being granted that set us on course to become a gold producer. In four decades in the mining industry I have never seen a permit issued so quickly to allow a mine to enter the production phase," said Bluebird Chief Executive Colin Patterson.

He continued: "This is very positive for the company and also for the future of the South Korean mining industry. With the gold price rising this highlights just how much more attractive it is to reopen old mines compared to exploring for and developing new mines."

Shares in Bluebird were up 6.8% at 2.53 pence in London on Tuesday.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Aug 2023 12:52

IN BRIEF: Bluebird Merchant shares rise as interim loss narrows

Bluebird Merchant Ventures Ltd - South Korea-focused gold company primarily focused on bringing historic mines back into production - Reports a pretax loss of USD216,262 in the first half of 2023, narrowed significantly from a loss of USD853,955 the previous year. Narrowed loss comes as the company recorded a USD286,683 finance gain and USD95,613 exchange gain compared to the losses recorded in the year prior. Declares no dividend. Expects to have "full clarity" on the potential of its three projects by the next time it reports.

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23 Aug 2023 10:33

Catalyse Capital to buy Southern Gold's shareholding in Bluebird

(Alliance News) - Bluebird Merchant Ventures Ltd on Wednesday noted that Catalyse Capital Ltd is buying Southern Gold Ltd's shares in Bluebird.

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10 Jul 2023 14:10

Bluebird Merchant commits to bringing two mines into production

(Alliance News) - Bluebird Merchant Ventures Ltd on Monday reported some positive progress on securing the legal permits required to advance two of its projects in South Korea.

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15 Jun 2023 13:53

IN BRIEF: Bluebird Merchant wins approval for Batangas project plan

Bluebird Merchant Ventures Ltd - South Korea-focused gold company - Receives approval from the Mines & Geosciences Bureau for its two-year community development plan at its Batangas gold project in the Philippines. Says this is a "significant step forward". The approval allows for groundwork including supplementary drilling to commence at the Lobo project area. The Lobo area has ore reserves of 171,000 tonnes at 6.6 grams per tonne for 36,000 ounces of gold.

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26 Apr 2023 17:58

EARNINGS SUMMARY: Bluebird swings to loss, RBG profit rises strongly

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TRADING UPDATES: BATM reports Edgility progress, Rambler starts sale

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20 Mar 2023 14:16

Bluebird Merchant receives full GBP1.2 million placing proceeds

(Alliance News) - Bluebird Merchant Ventures Ltd on Monday said it has now received its full placing proceeds of GBP1.2 million.

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20 Mar 2023 09:57

SMALL-CAP WINNERS & LOSERS: Canadian Overseas Petroleum gets funding

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6 Mar 2023 11:50

Bluebird Merchant raises GBP1.2 million for South Korean gold mines

(Alliance News) - Bluebird Merchant Ventures Ltd on Monday said that it has raised GBP1.2 million via a placing of 60.8 million shares in order to fund its gold mine projects.

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TRADING UPDATES: i-nexus to deliver growth; Craven House loss narrows

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TRADING UPDATES: Northcoders buys Tech Returners; Starvest loss widens

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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