Bluebird Merchant Ventures Share Discussion Threads

[cool runnings] 06/9/2019 15:08

Yes early part

[rakepat37] 06/9/2019 14:01

Exciting times ahead . Aidan is back from Korea. We have great infrastructure in Korea . Hopefully get a update soon

[tsmith2] 06/9/2019 13:24

Next week?

[ih_140496] 05/9/2019 20:24

It’s gone quiet here but hopefully we will get news on permitting . Bluebird would fly on good news but also Southern Gold in Australia will as they are 50% partners

[cool runnings] 05/9/2019 08:19

Always. These things always take longer than expected so wouldn't be surprised on some slippage here . Totally relaxed and happy fwiw

[tsmith2] 04/9/2019 10:43

Fingers crossed

[tsmith2] 04/9/2019 09:27

Still expecting this?

[bo doodak] 03/9/2019 12:44

One would hope so, but that doesn't necessarily equate to it being about to be granted. There might still be a more hoops to jump through.

[smicker] 03/9/2019 12:41

Is it fair to assume if they were going to turn it down they wouldnt be meeting at the mine and its likely this is a photo opportunity for all concerned?

[king_baller] 03/9/2019 12:32

In the current gold environment, once the permits are granted, I would expect a comfortable momentum rise up to 10p. Also, those big buys last week were clearly more relating to management imminently flying over to SK (rather than permits granted). Which isn’t market sensitive information. Shieldbug knows this is about to multibag, hence he kept some money in despite concerns with leaking.

[hibberts] 03/9/2019 11:33

BMV just tweeted.

Meeting with local government officials today at Geochang (Kochang)

[cool runnings] 02/9/2019 17:43

Fair play .

[shieldbug] 02/9/2019 17:15

Reduced my holding at a small loss based on the increase in share price. Just don't like the leaks, selfies, cliques and flimsy optimism here. Kept enough to not be bothered which ever way this goes.

[rakepat37] 02/9/2019 16:00

You wouldnt waste money going to Korea unless we have progress ... they all had smiles on there face ... time to buy a few more

[dearg doom] 02/9/2019 10:47

Selfie of management team heading to Korea, released by the company on Twitter over the weekend. The words contained "Heading to South Korea today for a great week" doesn't suggest the week ahead is a normal week. It didn't say just back from the annual holidays.

On that basis, another add-on purchase made. Probably relieved price had not gone up to give me a second chance to bite.

[cbeadle] 02/9/2019 10:46

Good point cr we are almost in the money with these warrants too.

[cool runnings] 02/9/2019 10:23

Remember there are warrants exercising at 2.5p that will raise £600k

[euclid5] 02/9/2019 09:53

worst case scenario, if they received permits and then raised the £1m at 2p - extra 560m shs plus the 369m in issue = total 420m (excluding share options/ warrants) x 2p = £8.5m market cap

[euclid5] 02/9/2019 09:49

taken from the 4 July 19 Rns

Management have consistently been the largest investor to date in Bluebird. As such, the Company expects to put in place sufficient debt funding provided by management, alongside several significant shareholders, in order to bridge the gap until permits are issued

[cbeadle] 02/9/2019 09:47

Thus it’s only approximately £0.3m per 12 months delay from 30 June 2019, so although there would be some dilution, that’s no big deal

[cool runnings] 02/9/2019 09:46

The company is being funded by certain investors and management , this will suffice in the short term. Once permits are issued then all sorts of financing opportunities are available !

[euclid5] 02/9/2019 09:42

Taken from pg 9

Following completion of the Pre-Construction Phase, the Directors intend to re-establish operations at both mines simultaneously and construct a single facility to treat ore from both mines. The processing plant is likely to be located at the Kochang Project and design and engineering plans will be drawn up as part of the Pre-Construction Phase. It will be developed as a pilot plant with initial production providing a ‘proof of concept’.

Once operational for 12 months the Company will consider various options in order to increase the scale of operations and increase production levels as it is expected that full efficiencies and recoveries would have been achieved. In their opinion and based on their experience, the Directors believe that such a strategy will minimise the capital costs involved in relation to land acquisition, plant construction and operating costs.

The Company is of the opinion that the Group has sufficient funding in order to complete the Pre-Construction Phase and to fund the Group’s administrative expenses until 30 June 2019. In order for the Group to be able to continue to meet its administrative costs after 30 June 2019 and to progress the South Korean Projects beyond the Pre-Construction Phase the Company will need to raise additional funding. The Company estimates currently that it will require USD 1.05 million to fund its share of the costs of the Construction Phase and cover the Group’s working capital needs during the Construction Phase.

The Construction Phase will not commence until the South Korean Permits are granted. Should the South Korean Permits not be granted by 30 June 2019 then the Company will need to raise additional capital to cover administrative costs and maintain the South Korean Projects on a “care and maintenance” basis whilst waiting for the South Korean Permits to be granted. The Company estimates that funds of USD 350,000 would be sufficient for the Group to operate on this basis for a period of 12 months from 30 June 2019. The Company is confident that the additional capital required can be sourced from either an equity placing of new Ordinary Shares, or debt funding or a combination of equity and debt funding. The total amount required may also be raised in a series of separate transactions.

[euclid5] 02/9/2019 09:35

Reminder, didn't someone post something here saying based on the recent prospectus dated 13 June 19, they were in need to raise further funds soon.

So needs £1.05m or £350k depending if they get the permits awarded

[euclid5] 02/9/2019 09:31

I guess that 2m trade was a buy on the 30 Aug at 10.34am, based on the time & the bid/offer price