We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bluebird Merchant Ventures Ltd | LSE:BMV | London | Ordinary Share | VGG118701058 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.625 | 0.60 | 0.65 | 0.625 | 0.625 | 0.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 0 | -1.49M | -0.0022 | -2.82 | 4.28M |
TIDMBMV
RNS Number : 5198X
Bluebird Merchant Ventures Limited
22 February 2017
22 February 2017
Bluebird Merchant Ventures LTD
(the "Company" or "Bluebird")
Company Update
Bluebird Merchant Ventures (EPIC: BMV) (Bluebird or The Company) announces to the market that further to its recent announcement on 3 February 2017 regarding a local partner for its Philippine project that the binding definitive agreement is expected to be signed within March.
The Company notes that there has been some uncertainty in the Philippines of late regarding mining policy. The Secretary of the Department of the Environment and Natural Resources (DENR) has stated that a number of operating mines would be suspended from operations citing environmental related issues. The President of the Philippines has advised the Secretary of the DENR to allow due process. To Management's knowledge mining operations continue at the affected mines pending the outcome of due process.
Furthermore, the Secretary of the DENR has identified a number of mining licences which she believes are in watershed areas and has in the press advised such licence holders to show cause as to whether there are proclaimed watershed areas within the contract area. Egerton Gold Philippines Inc (EGPI) is the licence holder of the Batangas project and has also being asked to demonstrate if there is a proclaimed watershed within the contract area. The Company wishes to clearly state that there are no proclaimed watershed areas within the contracted areas either presently nor were there at the time when the government of the Philippines entered into the agreement. From the current records of the Forest Management Bureau, the office that has jurisdiction and authority over watershed reservations, there exists no proclaimed watershed forest reserve in Lobo, Batangas, the area over which EGPI operates as authorized under its MPSA (mining licences) with the Republic of the Philippines. Furthermore, the data of the Forest Management Bureau is confirmed by the Mines and Geosciences Bureau Mining Tenement Maps as of January 2017.
The Company will be responding this week to advise the DENR that there are no declared watershed areas that exist within the contracted area. Management is confident of the good standing of the mining licences issued by the government of the Philippines. A mining licence is a government contract issued in good faith by the government and as such there are certain investment guarantees given. The Company is confident that conditions within the mining industry will improve to the industry's benefit in the coming weeks.
Enquiries:
Bluebird Merchant Ventures Ltd +63 917 8615 604 Charles Barclay, CEO Walbrook PR Limited +44 (0)207 933 8783 Gary Middleton / Nick Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUWCPUPMUQP
(END) Dow Jones Newswires
February 22, 2017 02:01 ET (07:01 GMT)
1 Year Bluebird Merchant Ventures Chart |
1 Month Bluebird Merchant Ventures Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions