Bluebird Merchant Ventures Share Discussion Threads

[skyship] 11/2/2019 09:00

"What puzzles me is why valuable mining rights are apparently given away for nothing? Who owned the mines originally, don't they still own the rights?"


Indeed. I posed the same thought earlier on the thread. We had to farm in; but on what terms, not just the financial aspect...

[tsmith2] 11/2/2019 08:51

You can get a sense of the government's keenness by the grant BMV have been told to apply for...Also remember that this was a fully functional mine..it's about reopening it.

[tim000] 11/2/2019 07:58

Operational risks and hurdles, sure, but surely much less than for greenfield sites. To some extent this is just picking money up from the pavement. Just needs to be polished a little before spending it. What puzzles me is why valuable mining rights are apparently given away for nothing? Who owned the mines originally, don't they still own the rights?

[tsmith2] 11/2/2019 07:57

This to look forward to alsoThe application for the grant was submitted on 30 January 2019 and the Company expects to hear by the end of February if it has been successful.

[the deacon] 11/2/2019 07:52

Permits will be seen by the market as a major hurdle. We are led to believe that all should be fairly smooth in respect to the permitting, so I think that could act as a value catalyst when that risk is removed. Plenty of operational risks and hurdles, but that's a problem for any producer, and by then we should be valued as such..

[tsmith2] 11/2/2019 07:50

These results are from a VERY small area of the mine, which itself operated on ONLY A SMALL PART of the identified gold and silver system.115k oz of gold from a very small area of a small part of something much much biggerlovely

[tim000] 11/2/2019 07:47

BMV is exactly the kind of share I like to invest in; prospective asset value is high in relation to mkt cap and monetising the asset looks relatively cheap and speedy. And the business model allows almost unlimited duplication across South Korea, giving potentially unlimited share price appreciation. Moreover the government looks to be extremely supportive. But we've all learned to be sceptical about apparent one-way bets, which rarely come to fruition. Looking back over past AIM investments, many of the companies I invested in no longer exist. Can I respectfully ask cool runnings what he sees as the main risk factors with BMV? And why has no-one else seen this opportunity, which has been around for many years. After all, the gold price has been much higher than this before.

[highly geared] 11/2/2019 07:46

More validation of what we have already + the results relate to only a small part of the geological system. Excellent!

[cwa1] 11/2/2019 07:33

11 February 2019

Bluebird Merchant Ventures Ltd

(the "Company" or "Bluebird")

Kochang Mine Update

Bluebird Merchant Ventures (EPIC: BMV), the Asian focused resource development group, is pleased to announce its comparison of the results of the underground sampling programme from the Kochang Mine, carried out by the Korean Resources Corporation ("KORES"), a South Korean government owned company in 2018.

Highlights:

-- Bluebird has reviewed KORES' sampling programme results
-- KORES Total Indicated and Inferred Resource of 113,280 oz Au versus the Company's Resource potential of 116,880 oz Au

-- KORES derived gold grade of 6.55 g/t versus Bluebird's reported gold grade of 5.94 g/t
-- KORES derived silver grade of 35.97 g/t versus Bluebird's reported silver grade of 31.54 g/t

-- The sampling programme covered a small area of the Kochang mine
The Company announced on 6 February 2019, that it had received a copy of the technical survey report KORES carried out at the Kochang mine and adjacent area in 2018. Bluebird is examining the report and is pleased to see strong correlation in the results of the underground sampling programme carried out by KORES, with that conducted by the Company in the same area in the first half of 2018.

KORES took 195 samples which were sent to SGS Canada for assay. KORES' results and resource interpretation have been compared to those derived by Bluebird.

KORES developed a total indicated and inferred resource estimate (Korean resource terms) of 113,280 oz Au from their results. Bluebird had reported on 20 November 2018 that the resource potential was 116,880 oz Au. Furthermore, KORES derived a gold grade of 6.55 g/t and a silver grade of 35.97 g/t. By comparison, Bluebird reported grades of 5.94 g/t gold and 31.54 g/t silver.

These results are from a very small area of the mine, which itself operated on only a small part of the identified gold and silver system.

Colin Patterson, CEO, commented:

"It is always pleasing to see corroboration of one's technical work. These results reinforce our opinion that Kochang has a good deal of life left in it."

[tsmith2] 10/2/2019 23:12

Ok. I'll set the clock early, these early starts aren't good for me though

[cool runnings] 10/2/2019 20:04

Nice early start tomorrow

[tsmith2] 06/2/2019 14:00

Would be interesting to see what the numbers are for the drill prog.

[digger2779] 06/2/2019 11:40

Excellent news. Unfortunately the sell on news brigade are after their quick buck. Lets hope they regret it.

[euclid5] 06/2/2019 10:54

Should the application be successful, KORES will fund 70 per cent of the costs of Bluebird's agreed drilling programme. The purpose of the assisted drilling programme is to support mining activity. The success criteria of the scheme is that the supported programmes result in operating mines.

[cbeadle] 06/2/2019 08:32

Good RNS, nothing particularly new except perhaps the level of KORES support, shows a supportive environment. The share price is not responding very much, probably this news already priced in. I agree good possibility for capital appreciation from here, hoping for a 1 in front of the price, 20p would be amazing, not impossible!

[tsmith2] 06/2/2019 08:09

Hopefully remaining seers can be cleared on good volume today

[the deacon] 06/2/2019 07:18

Yup, it's one thing to have a top notch, well experienced board. But to have an equally supportive government pressing you to get on with it leaves BMV in a superb place. The resource is there - we know that. BMV undoubtedly have the want and ability to pull this off, and jurisdictionally - SK want them to do it and want to give assistance. What's not to like here! 20p easy by year end.

[cool runnings] 06/2/2019 07:09

Never heard of a country giving grants for drilling - the government is helping fund the project - great news , really endorses the company and its management team

[the deacon] 06/2/2019 07:09

That's a great update