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Bluebird Merchant Ventures Ltd - Korea-focused gold firm - Says funding partners in South Korea have accelerated their funding schedule. Bluebird receives first tranche of funding that will enable progress on the ground in South Korea and for construction to start. The funding is non-dilutive and is a straight pre-payment for gold with no interest, Bluebird says. The agreement with the funding partners provides for a minimum commitment of USD5 million and a maximum of USD20 million.
"The directors consider the funding to be highly advantageous to shareholders and as the funding schedule progresses it will result in the company achieving gold production without the need for an equity placing to fund the construction phase," says company.
Current stock price: 5.20 pence
Year-to-date change: more than doubled from 2.40p at end of 2019
By Lucy Heming;Â lucyheming@alliancenews.com
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