Bluebird Merchant Ventures Ltd - South Korea-focused gold development company - Opens discussions with "potential partners" in the development of Batangas gold project in the Philippines. Notes positive feedback from the Department of Environment & Natural Resources for its submission for a two-year extension of its current exploration license. "Multiple epithermal and high-grade targets" are already identified for resource expansion at the Lobo area, Bluebird says. Also notes progress in bringing Kochang gold and silver mine and Gubong gold mine back into production in Korea, with the team finalising the qualifying spend of USD160,000 for the 20-year mining licence terms. "This will be satisfied primarily by purchasing equipment needed to continue underground development and exploration of the two mines," Bluebird says.
Current stock price: 2.01 pence, down 13% on Monday
12-month change: down 39%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Bluebird Merchant Venture (BMV)