REG - Bluebird Merchant - Director Dealing

Bluebird Merchant VenturesAnnouncement

09/07/2019 07:06

RNS Number : 8216E
Bluebird Merchant Ventures Limited
09 July 2019
 


9 July 2019
Bluebird Merchant Ventures Ltd
(the "Company" or "Bluebird")
 
Director Dealing
 Bluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group, is pleased to announce that Colin Patterson, Executive Director and Chief Executive Officer of Bluebird, bought 65,000 shares on market at 1.94 pence on 5 July 2019 and a further 65,000 shares on market at 1.89 pence on 8 July 2019 through Kensington Trust Singapore Limited, whom he is associated with.
 
 
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


+44 (0) 7797 859986




Jonathan Morley-Kirk, Non-Executive Chairman


 




 
SP Angel Corporate Finance LLP
Ewan Leggat
 


 
+ 44 (0) 20 3470 0470
 
 




Blytheweigh


+44 (0) 20 7138 3204




Tim Blythe / Camilla Horsfall / Julia Tilley


 




 
www.bluebirdmv.com
@BluebirdIR
 
Notes to Editors
 
The Gubong mine was once the second largest producing gold mine in South Korea until its closure in 1971 when gold prices were US$40 per ounce. The mine consists of nine shallow dipping stacked veins. Although production was mainly from vein number six, five other veins were mined from 1928 until its closure. Over 17,000 metres of drilling was carried out over the years and there are over 120 kilometres of existing underground development.
The Kochang mine is a gold-silver mine that operated between 1928 and 1975 and produced over five million ounces of silver at over 1000 g/t and 110,000 ounces of gold at 19.6 g/t. This gold production was mainly derived from the three main veins at the North East end of the "Gold Mine" part of Kochang, with the majority of the silver production from the "Silver Mine" some 2.5 kilometres to the south west.  The mine closed in 1975 when the gold price was USD 140 per ounce. Today the mine consists of three steeply dipping veins. Bluebird has opened up three kilometres of original development, taken over 400 samples and has confirmed process viability by carrying out initial metallurgical test work.
 
 
 




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