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Bluebird Merchant Ventures Ltd - Korean focused gold development firm - Concerning Southern Gold's proposed acquisition of a 50% interest in the Gubong and Kochang gold mines, Bluebird makes offer of settlement as required under the joint venture agreements, hoping that a commercial solution can be achieved in a speedy manner.
Remains in talks with South Korean funding partners which recently provided a second tranche of funding.
"The company believes that it is only by bringing about gold production in South Korea that value can be both realized and substantially increased and therefore it is in both company's interest to advance the process of construction," Bluebird stated.
Current stock price: 4.00 pence, down 4.8% on Wednesday
Year-to-date change: up 6.7%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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