Bluebird Merchant
Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector:
Mining
10 July 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 02 August 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 2023. The next set of audited financial
statements will be for the 12 month period ending on 31 December
2024. These should be placed before the 2025 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 Colin
Patterson as a director of the Company.
Resolution 5 -
Re-appointment of Director
This resolution seeks to re-appoint Mr Aidan
Bishop as a director of the Company.
Resolution 6 -
Change of Name
This special resolution seeks to amend
the Company's name to Bluebird Mining Ventures Ltd, which will
allow the Company's ticker on the London Stock Exchange to remain
as BMV.
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 at The Pavilions, Bridgwater Road, Bristol BS99 6ZY,
United Kingdom as soon as possible and in any event not later than
09:00 on 31 July 2024.
**ENDS**
For further
information please visit https://bluebirdmv.com or
contact:
Jonathan Morley-Kirk Bluebird
Merchant Ventures Ltd
Email: jmk@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 100,000 oz + Au per annum.
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 1.5 million oz 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 110,000 oz of gold and 5.9 million oz of silver between
1961 and 1975. Consisting of a gold and silver mine, there
are currently four main veins and several 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 150m 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 resource potential 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 moderately 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 120km in total length which
indicates the size of the opportunity. The Korea Resources
Corporation ('KORES') estimated 2.34M tonnes at some 7.3g/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 geological potential of 1 million + oz Au
in-situ, plus an estimated additional 300,000 oz Au from satellite
ore bodies.
Additionally, the Company has the highly
prospective Batangas Gold Exploration Project in the Philippines,
where it has an agreement with a Philippine company, whose owners
have decades of experience in mining, to develop the Project.
The JV covers the entire Batangas Project area, which has a current
JORC compliant resource of 440,000 ounces, including a maiden ore
reserve of 128,000 ounces (including silver credits). Exploration
expenditure to the tune of c.$20m has already been invested.
Work is focused on completing exploration and environmental work
programmes initially targeting the high-grade Lobo area, although
there is excellent exploration potential across the licence with
high-grade targets already identified and 14km of identified
mineralised structures. The staged agreement is based on the
JV partner achieving defined development goals and provides
Bluebird with a free carry on the development of Batangas with a
view to advancing to construction.