REG - Bluebird Merchant - Notice of AGM

Bluebird Merchant VenturesAnnouncement

01/02/2024 07:15

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RNS Number : 5166B  Bluebird Merchant Ventures Limited  01 February 2024

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.

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