Bluebird Merchant
Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector:
Mining
01 February
2024
Bluebird Merchant Ventures Ltd
('Bluebird' or 'the Company')
Notice of AGM
Bluebird Merchant Ventures Ltd, a gold company
primarily focused on bringing historic mines back into production
announces that will hold its Annual General Meeting (AGM) at 09:00
on 23 February 2024 at 7 Castle Street, St Helier, Jersey JE2 3BD
for the following purposes:
Resolution 1 -
Receiving and Considering the Accounts
This is an ordinary resolution to receive and
consider the financial statements of the Company for the period
ended 31 December 2022. The next set of audited financial
statements will be for the 12 month period ending on 31 December
2023. These should be placed before the 2024 AGM.
Resolution 2 -
Appointment of Auditors
This resolution seeks to re-appoint PKF
Littlejohn as auditors of the Company. The authority granted by
this Resolution will expire at the conclusion of the next annual
general meeting of the Company.
Resolution 3 -
Authorisation of Auditor's Remuneration
This resolution seeks to authorise the
Directors to determine the auditor's remuneration.
Resolution 4 -
Re-appointment of Director
This resolution seeks to re-appoint Mr Jonathan
Morley-Kirk as a director of the Company.
Voting and
Proxies
A member entitled to attend and vote at the
Annual General Meeting is entitled to appoint a proxy or proxies to
attend, speak and vote in his/her stead. The proxy need not be a
member of the Company.
The instrument appointing such a proxy may be
sent to the Company's registrars, Computershare Investor Services
(BVI) Ltd, c/o The Pavilions, Bridgwater Road, Bristol BS99 6ZY,
United Kingdom as soon as possible and in any event not later than
09:00 on 21 February 2024.
**ENDS**
For further information please visit
https://bluebirdmv.com or contact:
Colin Patterson by email:
colin@bluebirdmv.com
About
Bluebird:
Bluebird Merchant Ventures Ltd (BMV.L) is a
London listed South Korea-focused resources company centred on
bringing historically producing gold mines back into production.
The Company, led by a team of proven mine rehabilitation experts,
currently has two 100% owned licensed high grade narrow vein mining
projects, the Kochang Gold and Silver Project ('Kochang') and the
Gubong Gold Project ('Gubong'), which each have a defined route to
low cost/ low capex production with a cumulative target of
producing + 100,000oz + Au per annum. Additionally, the
Company has the highly prospective Batangas Gold Exploration
Project in the Philippines, which has a resource of 440,000oz Au of
which 128,000oz Au is a reserve, and has had c.US$20m invested in
it to date. The management team has invested cUS$2 million
personally into the Company and believe, following analysis of
historic production and exploration data, as well as extensive
sampling, geological, geophysical, and engineering studies, there
is potential for in excess of 1.5Moz of mineable gold in its Korean
projects alone.
Kochang is an epithermal vein deposit with
parallel vertical ore bodies covering 8.3 sq km that reportedly
produced 110,000oz of gold and 5.9Moz of silver between 1961 and
1975. Consisting of a gold and silver mine, there are
currently four main veins and a number of parallel subsidiary veins
vein which have been identified, as well as a newly identified
cross-cutting vein. Historic drilling indicates the veins continue
to depth below the current 250m mine and mapping shows the veins on
surface providing potential above and below the old workings. The
veins extend to the NE providing a strike length of 2.5km with 600m
between the two mines not exploited. There is potential to
expand operations to the southwest/northeast and to depth, as well
as exploit the already mined areas. The total current non JORC
estimate is between 550,000 and 700,000 tonnes, with a range of
grades between 5.2 g/t to 6.6 g/t gold, and 27.3 g/t to 34.8 g/t
silver. Following the granting of a Mountain Use permit,
there is an estimated 6-to-9-month development time to trial
mining.
Gubong, which was historically the second
largest gold mine in South Korea has 9 granted tenements covering
c.25 sq km. Gubong is flat dipping with 9 veins extending
500m below surface and known to extend at least a further 250m.
However, the production opportunity for Bluebird prior to looking
at deepening the mine is the 25 levels already developed with all
the remnants and unmined areas left by the original miners.
The 25 levels extend over 120 km in total length which indicates
the size of the opportunity. The Korea Resources Corporation
('KORES') estimated 2.34M tonnes at some 6 g/t Au garnered from 57
drill holes over 17,715.3 metres. With additional sampling,
mapping, pit modelling and grade analysis, plus the fact that
Gubong is an orogenic deposit, which typically have a depth of 2km
compared to the current depth of 500m, the Board believe it has a
potential resource of +1Moz Au in-situ, plus an estimated
additional 300,000oz Au from satellite ore bodies.