Last checked at 26 Jul 2016 08:00
26 July 2016
Bluebird Merchant Ventures LTD
Copper Concentrate Business Update
Bluebird Merchant Ventures (EPIC:BMV) (Bluebird or The Company) a Philippine focused resource company currently engaged in the trading of copper concentrates and with an investment in a Philippine gold project, Copper Concentrate Trading business update.
The Company is pleased to announce that upgrading of the process plant and the laboratory building have been completed. The company has completed metallurgical test work on ore samples from 5 mining areas and four of these areas returned positive economics. The Group's local partner has signed an ore supply agreement with one of these groups of small scale producers for up to 20,000 tons per annum.
The test work demonstrated the potential to produce copper concentrate grades of 25 - 28 % and gold of 8-10g/t. These results are considered to be representative but cannot be considered as fixed. However, should these grades be achieved they would represent a net trading profit of US$ 550 - 670 per ton of concentrate at current metal prices.
Whilst the supply agreement is for up to 20,000 tons the company is assessing the logistics of supply to determine what it deems to be realistic volumes and expects to update the market in due course. Additional ore supply agreements are expected to be announced in due course.
Enquiries:
Bluebird Merchant Ventures Ltd | +63 917 8615 604 |
Charles Barclay, CEO |
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Optiva Securities | +44 (0)203 137 1902 |
Jeremy King / Christian Dennis |
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Walbrook PR Limited | +44 (0)207 933 8783 |
Gary Middleton / Nick Rome |
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