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Https://www.globalminingreview.com/mining/08052024/bluebird-signs-farm-out-agreement-for-south-korea-gold-project/

Thanks Zan - I think Robbie will accept that his decisions have lead us to this point and of course we are all experts looking at this with the benefit of hindsight. Not sure how many people here have either ran a business or close to someone who has. I was brought up on a sole traders income - I saw first hand what it took to run a small successful business - stressful as hell and you had to be all things to all men.

Everyone seems to be an expert in Kenyan mining here - the politics, the regulations, the mining ministry, the relationships with locals, the conflicts with artisan miners, the heightened security requirements of gold transmission, mining consumable supply chains, cross boader considerations, keeping HNW investors appraised and onside, maintaining a happy work force, cashflow constraints, rainy seasons, negotiating funding, dealing with the FCA, contracting a prospectus, day to day issues from any angle at any time - I mean we are all experts because it has to be easy right?

Would Robbie do things differently with hindsight? I am willing to bet a big fat yes. But then wouldn't we all with the benefit of hindsight? As the saying goes - don't judge a man until you have walked a mile in his shoes.

I get the frustration here is creating a myopic viewpoint for some. Its understandable.

Bob - do you understand that they need to complete the audit, to get the prospectus out, to sort the funding out and move the strategy forward? Where is the logic? Don't you think the auditors would be red flagging with the FCA if the company was playing games?

Can you elaborate please on Lors on esters?

Daniel - at the start of the suspension you are correct in terms of the company hadn't delivered - and we know why that was - lack of money and resource to have the required personnel on the job - they have been plate spinning with limited cashflow and they have prioritised the mining operation rather than the accounting function as the latter does not generate income. Clear enough?

At this point in time I think that we remain in suspension because of PFK dragging their heals - especially with the deployment of an independent mining company to independently go over the mining plan that was independently provided to Caracal - shear overkill in my view - does that make it clear and balanced enough - it is my opinion that's all.

Check out there piece of rock picked up off the ground if the video is accurate and no reason to believe it isn't - 69 g/t !!!

Hi Zan - fair comment on Robbie’s email - hopefully an official update will be here soon.

ATB

Daniel - this is an audit being undertaken by PFK - we know the reasons for the delay originally by the company - this is the subsequent delay by the audit team.

Hi Zan

Check out Upland Resources - their RNS dated May 1st - PFK requesting extra time - have they taken on too much work I’m wondering?

And CGAT is not the only company in suspension due to PFK not delivering!

Or maybe the auditors just aren’t up to the job - read Robbie’s email again to an investor! He wants to get the audit out there so he can move the company forward - does anyone really think he is causing the delays? Read between the lines!

For those new to BMV you might not have seen this video of Kochang - recommended

https://www.youtube.com/watch?app=desktop&v=YMnsFUV68Vw

Remember MM's have a habit of dropping the price sometimes to capture stop losses - just saying

Thanks Skier - some interesting stats - do you mind me asking what the PE ration comes from please? It's not a number I have seen before.

I posted yesterday some potential numbers.....Worth checking BMV presentation slide on X - targeting initial production at 25K osz AU and rising to 60K oz. If AISC remains in the ball park of 630 per oz (round up to say 800 for inflation) - and POG say 2300 - or 1500 profit per oz - multiplied by 25K = 37.5M USD - our 40% = 15M. Hugely rounded figures I know but that is just the start.

I think its too optimistic to think we will be at 25K oz run rate in 12 months but I do agree with your comments about can do - so who knows! The first doors to open are the permissions and lets see how the local investor gets on with these - if opened in quick fashion I think we can be confident of further rapid progression.

ATB

Agree with you Gordonbennett for short term price expectation (short term being 6 to 9 months in my view) and you only have to look at where the SP has historically been - I have always believed in the potential but as my posting history will show I was frustrated with a lack of progress and I think that Aidan's interview was refreshing as it incorporated an acknowledgment that they needed local expertise on board to help navigate local bureaucracy. The fact that they are also bringing cash to the table and avoiding dilution for us shareholders is fantastic and retaining 40% on a free carry is outstanding in my view.

I would encourage any potential investor to obviously do their research and consider the numbers here. Theres also the prospect of further good news on the horizon with a similar deal structure for Kochang - if announced that will give momentum here a further tap.

The key now for BMV is to keep the news flow coming and build back sentiment as well. Certainly the SP rise yesterday will have alerted new prospective investors to our very existence.

ATB

Hi Skier - I certainly think it has the potential to get to 10p - £71M MCAP and maybe more once production ramp up on all mines - a number of years away I suggest. In the meantime I think we need a clear and confirmed pathway to reopen - i.e. all the permissions required etc in stages 1 & 2 - once we have these in place there should be little to stop this train hopefully.

In the short term though I am certainly expecting further SP appreciation given our incredibly low MCAP but historical lack of progress might be a drag factor until we get more positive news. I am trying to be realistic and manage my own expectations - I have been here a while and can be patient for a while longer for the big returns.

ATB

That would be nice but highly unlikely. Let’s keep grounded and not fall into unrealistic hype and ramping. The risk reward potential is staggering at these levels and certainly could bag in the next week or so as word spreads. Good to see Aidan give a balanced interview and not be drawn on timescales- let’s see how fast the local investor unlocks the doors to take this to production. The excellent news is that once they are open we are reopening an existing mine and timeline to production should be short in mining terms. Amazing experience in the team of doing just this. Interesting to see what happens in the market today but whatever happens I’m very excited after years of waiting for this type of transformational development with BMV. Well done to the team.

That would be nice but as likely as Santa giving me double presents.

Good interview- more new in the near term it seems and AB cautious about timelines - good - let the locals crack on with it.

Worth keeping your eye on the fundamentals and not the short term SP movements, even though its been a joy to watch so far today - remember that games can and will be played with your mind and your money here if you are not careful.

ATB