The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Yes RNS Aug 23 sold to catalyst
Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, is pleased to announce that Catalyse Capital Ltd ('Catalyse'), a long running and supportive shareholder of Bluebird, has agreed to acquire Southern Gold Limited's ('Southern Gold') 122.5 million shares in the Company ('the Agreement'). The Board believes that the share purchase by Catalyse, that recognises the true potential of the Company's South Korean and Filipino gold projects, will remove a significant perceived 'overhang' in the trading of Bluebird's shares and allow investors to focus on the inherent value of the three-project portfolio.
Under the terms of the Agreement, Catalyse has agreed to purchase an initial 22.5 million shares in Bluebird at 0.55p per share with settlement due on the 28 August 2023. Southern Gold's remaining 100 million share will be purchased by Catalyse in four tranches of 25 million shares each, to be settled monthly from September to December 2023. Each of the four tranches will be priced at 75% of each month's VWAP for Bluebird's shares with a floor price of 0.4 pence.
If it was a certainty it would at £10 now , as with any stock its a calculated risk but considering that Andrew and his crew have done everything set out to do and had promised with the 2 farm outs and a free carry to oil it is heavily weighted towards going a lot higher DYOR
"The company said Catalyse is buying Southern Gold's 122.5 million Bluebird shares, or around 18% of issued Bluebird shares. 22.5 million of those shares will be bought at at 0.55 pence per share with settlement due on Monday. The price is an 11% discount to Bluebird's share price of 0.62p at the close on Tuesday. The remaining 100 million shares will be purchased by Catalyse in four tranches of 25 million shares each, to be settled monthly from September to December."