Bluebird Merchant Ventures Share Discussion Threads

[cbeadle] 02/4/2019 17:33

tim000 interesting comment, I would agree SAU will surely sell their Australian assets at a knockdown price, but they are also potentially a very good partner. They provide mining operations expertise which BMV lack and they also have more developable SK assets. If they can sell Cannon in Australia within the three months time frame they are aiming for that would be great news, so they could then concentrate on SK.

[digger2779] 02/4/2019 14:02

All buys today and mostly yesterday too but not flinched. Hope it's a coiled spring in the making :)

[tim000] 02/4/2019 10:44

Any buyers of SAU's assets will know it's a fire sale. SAU is proving to be an undesirable JV partner (as has been pointed out often, they are overstretched). That may be depressing BMV's share price. It may also be holding up the permit to develop. If we could take over their rights and announce secure financing for the project, the share price might be at least twice its current level.

[andy] 02/4/2019 09:18

tsmith2,


Re you post #534


There may well be a mechanism for that in the agreement, that if they can't fund any portion of their commitment, they get diluted down. That is common in Canada, for example, and some companies are squeezed out of projects like that.


I thought SAU were overstretched project wise, so selling off their WA assets makes sense, and they may well need to do so to keep their skin in the game in Korea.



Re your post #535


If you're inside, you shouldn't be posting that, and you should know that! And if you're not an insider and simply guessing, then you're raising expectations that will lead to disappointment if it doesn't happen.


Either way, not good.............

[tsmith2] 02/4/2019 09:10

Sticking my neck out - grant news next week

[tsmith2] 02/4/2019 09:00

No, defo not in a favour of a merger. SAU meet their 1/2 if they can't we should take 100% of projects.

[cbeadle] 01/4/2019 12:07

Maybe the current partnership makes sense then, there are large numbers of junior miners with potentially amazing assets but no chance of developing them without large scale risk and dilution. This is why BMV stands out in terms they are on the route to production (though a fair way to go yet) with already defined assets

[euclid5] 01/4/2019 11:39

they are better off developing the main 2 BMV own rather than start buying more assets that will need funding / funding - best to get to cash flow status first so less dilution required

[cbeadle] 01/4/2019 11:29

Thank you euclid5 I had been wanting to see that statement. There’s another 8 assets listed in South Korea 100% owned by Southern Gold. It would be great if they can find buyers for the Australian assets. A merger between SAU and BMV looks as though it would make sense, the former gaining a London listing, and the expertise of the experienced BMV team, while BMV would gain potentially more developable assets in S Korea.

[cbeadle] 01/4/2019 08:47

Interesting one from Southern Gold, but generally I think an encouraging move. Their share price took a dive nearly 10%, but that might be uncertainty as to how Cannon Gold may resolve. Positive news should soon be very interesting for both BMV and SAU.

[the deacon] 01/4/2019 08:12

Thanks Shieldbug! Didn't realise you'd already posted it

[the deacon] 01/4/2019 08:11

https://hotcopper.com.au/threads/ann-strategic-focus-on-south-korea-wa-asset-sale-process.4693623/unread

[shieldbug] 01/4/2019 08:05

hxxps://www.southerngold.com.au/announcements/WA%20Asset%20Sale%20Process

[tsmith2] 01/4/2019 08:03

Have you a link

[the deacon] 01/4/2019 06:43

News out overnight from SAU. They're selling their Australian assets in order to focus on progressing the South Korean interests. Can't imagine they'd make that decision unless they were sure it was green lights all round in Korea. Very bullish imo.

[cbeadle] 31/3/2019 16:10

Highly Geared you are probably right, projects like these are prone to delays. Having said this I am hopeful of good news hitting (possibly a third partner joining ) with the market then revaluing BMV significantly upwards

[hazl] 31/3/2019 13:01

I think that gold has been up,for some time and perhaps people expect a bit of a drop or at least going sideways....for confirmation have to look at other goldies.

[highly geared] 31/3/2019 11:40

Did anyone visit them at the UK Investor Show yesterday? I was going to go but had to miss it for various reasons.
Price fall reflects retail investors selling due to delay in project approvals.
Nothings changed but they need to stop declaring explicit timelines that sets things up for disappointment among the retail community who have a 10 minute timetable for everything!

[digger2779] 28/3/2019 10:09

Selling below the placing price now. Maybe that will deter the spivs and hopefully not too many pi's have got spooked into selling up.
It was only a small placing and am surprised it's caused this much of a drop. If and when good news arrives I suppose it will give the spivs another selling opportunity and any rise will be stunted until they are done.

[the deacon] 28/3/2019 09:46

Yes, I did say that I was uncomfortable when issuing specific dates. They almost invariably slip. Still, top up opportunities, as nothing has changed

[tsmith2] 28/3/2019 08:42

Looks like we have spivs from the last placing who will drip feed stock now.agree management shouldn't give us such specifics dates when dealing with authorities given that now on more than one occasion they've had to push back.Proper news needed pls

[highly geared] 27/3/2019 14:29

Whilst I’m relaxed and think this is a great investment, Management were naive in issuing specific timescales for Government appprovals. They always slip and end up being longer, in many cases months or years!
But, we know the gold is there, no costly mine development and once permits to mine are issued, things are de-risked and it should become more about operational delivery.
Realistically, production will start late Q1- Q2 2020 but in the bigger scheme of things, that’s fine. I think gold will have it’s next bull phase starting next year and global debt bubbbles start to burst....