Further re Joint Venture Update

RNS Number : 0288N

Bluebird Merchant Ventures Limited

27 January 2021

 

Bluebird Merchant Ventures Ltd

(the " Company" or " Bluebird")

Further Re Joint Venture Update

Bluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group is pleased to provide a further update to the previous Joint Venture Update announced on 30 November 2020 with regards to the acquisition of Southern Gold's 50% interest in the Gubong and Kochang gold mines.

Bluebird has made an Offer of Settlement to Southern Gold as required under the Joint Venture Agreements and is hopeful that a commercial solution will be achieved in a speedy manner.  The Company believes that it is only by bringing about gold production in South Korea that value can be both realized and substantially increased and therefore it is in both Company's interest to advance the process of construction.

The Company has remained in dialogue with its South Korean funding partners whom also recently provided a second tranche of funding and remain committed to the non-dilutive funding process to bring about production in South Korea.  The Company will update the market in due course.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").

Enquiries:

Bluebird Merchant Ventures Ltd	[e-mail]
Jonathan Morley-Kirk, Non-Executive Chairman

 

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