REG - Bluebird Merchant - Notice of AGM

Bluebird Mining VenturesAnnouncement

10/07/2024 07:00

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RNS Number : 8294V  Bluebird Merchant Ventures Limited  10 July 2024

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
(mailto: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.

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