First Payment for Copper Concentrate Shipment

RNS Number : 7525C

Bluebird Merchant Ventures Limited

30 June 2016

 

30 June 2016

Bluebird Merchant Ventures Limited

("Bluebird", "BMV", or "The Company")

Bluebird Receives Payment for First Copper Concentrate Shipment

Bluebird is pleased to announce that the Company has received payment from the smelter for the initial test shipment of copper concentrate that is in line with management expectations.

The construction of the laboratory and other improvements at the processing plant is on schedule and nearing completion.  The Company expects to renew the agreement with the smelter and to commence making regular shipments from the month of July. Bluebird has elected to sell the concentrates to a local smelter as has taken the view that it is advantageous for the Philippines if mineral processing occurs within the country.

Charles Barclay, CEO, said "Receiving payment from the smelter completes the trade cycle for the test shipment and demonstrates proof of concept.  The construction of the laboratory and upgrades at the processing plan will enable the business to operate more efficiently.  We now look forward to renewing the smelter agreement and commencing regular shipments and developing a profitable trading business".

Enquiries:

Bluebird Merchant Ventures	[phone]
Charles Barclay
Optiva Securities	[phone]
Jeremy King / Christian Dennis
Walbrook PR Limited	[phone]
Gary Middleton / Nick Rome

 

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