REG - Bluebird Mining Vnt. - Operational Update

Bluebird Mining VenturesAnnouncement

10/12/2025 07:00

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RNS Number : 9100K  Bluebird Mining Ventures Ltd  10 December 2025

 

10 December 2025

Bluebird Mining Ventures Ltd

 

("BMV or the "Company")

 

Operational Update

 

Further to the announcement of 2 December 2025, Bluebird Mining Ventures, the
gold streaming and treasury company, provides an update on the progress it is
making on its gold-streaming and treasury platform, BTC-linked opportunities,
institutional-infrastructure build-out, and the advancement of legacy assets.

 

Workstreams covering treasury governance, execution protocols, reporting
standards and digital infrastructure are being finalised ahead of increased
deployment activity expected from January 2026. This includes
institutional-grade controls designed to support both gold-streaming flows and
the Company's broader treasury objectives.

 

Gold-Streaming and Treasury Platform Development

 

BMV is progressing a balanced set of gold-streaming and gold-linked
transactions across Australia, West Africa, Central Asia and Southern Africa.
These opportunities span producing sites, expansion-ready projects and modular
processing operations. The portfolio has been designed to balance
short-duration cash-impact with longer-life reserve exposure, consistent with
BMV's focus on recurring gold flows rather than ownership of mining
operations.

 

The transactions under development share common features:

•     near-term operational cashflow, in several cases from early 2026

•     structures ranging from senior-secured streams to rolling
short-cycle arrangements

•     exposure to both stable producing assets and scalable long-life
deposits

•     optional equity participation where it strengthens long-term
returns

•     multi-year visibility on gold deliveries, with scope to recycle
flows into future streams

 

The Directors believe that collectively, these transactions have the potential
for material contribution to the Company's gold-backed treasury in the
short-to-mid term. Several of these transactions have the potential to produce
early ounces within the next 6-9 months, while others have been targeted as
they offer multi-year, expansion-linked growth.

 

BTC-Linked Opportunities

 

To complement the gold-streaming platform with optionality in settlement,
liquidity and yield - while maintaining the Company's core focus on
physical-gold reserves - BMV is assessing a limited number of BTC-linked
opportunities within the permitted scope of its treasury operations. Any such
exposure is expected to be structured through streaming or BTC-linked
arrangements, with cashflows either converted into gold or retained within
treasury.

 

The Company will progress and execute any BTC-linked arrangements with full
consideration of the applicable class-test thresholds under the Listing Rules,
ensuring that any transaction remains within the appropriate regulatory
parameters.

 

Update on Existing Gold Interests: Philippines (Batangas) and Korea

 

The Company provides an update on its legacy gold interests in the Philippines
and Korea following renewed engagement by the new management team. Both assets
are now undergoing structured review and reactivation efforts designed to
bring greater clarity, discipline, and value potential into the portfolio.

 

In the Philippines (Batangas), the Company has re-established direct
engagement with the local counterparty and begun a comprehensive assessment of
the project's development position. Historically held on a passive basis, the
asset is now being moved to an active oversight framework. Management and the
local partner are working towards a defined 2026-27 development timetable
supported by clear reporting and milestone tracking. The intention is to agree
a detailed work plan and establish a formal project tracker during Q1 2026,
providing the Company with improved visibility over the project's pathway and
potential future cashflow.

 

In Korea, the Company has initiated a full reassessment of the project
structure and development pathway. Discussions are progressing with potential
partners, including the locally engaged group previously associated with BMV,
to determine whether a technically capable and well-capitalised local lead
party can be put in place. In parallel, a formal legal review of the
permitting and appeal position will commence in January 2026. This will
provide a definitive understanding of the regulatory basis on which the asset
can be advanced and will inform the decision between a development path or an
orderly exit.

 

Over the coming months, the Company will focus on establishing clear
development options and execution responsibility across both assets. Key
milestones include agreement of the Philippines development plan in early Q1
2026; confirmation by end December 2025 of whether the current Korea partner
will assume a lead role; a legal assessment of the Korean permit status in
January 2026; and a full viability review for Korea by the end of February
2026. The Company will provide further updates as progress is made.

 

Update on Bitcoin Mining Equipment

 

Earlier in the year the Company acquired a fleet of bitcoin mining machines
for deployment into a contracted UAE project. Following regulatory changes
introduced in October, the counterparty was unable to proceed and the planned
deployment, hardware sale, and associated streaming structure were cancelled.

 

The machines remain in the Company's possession in new condition. Management
is now assessing alternative routes to realise value, including either
bringing the units online with established North American hosting providers or
structuring a small hashrate-linked stream or sale. Given the modest scale of
the fleet, any transaction is not expected to affect the overall composition
of the business. The Company expects to reach a decision and execute the
preferred route during Q1 2026.

 

Institutional Infrastructure (Reserve & Rail)

 

BMV continues to build the institutional architecture that supports a modern
gold-streaming and treasury platform across banking, precious metals and
digital assets.

 

Banking and Settlement

Onboarding is underway with providers like Swiss private banks, digital-asset
banks and institutional payment and FX platforms, establishing the GBP and USD
settlement channels required for refinancing and treasury operations.

 

Precious Metals Execution and Trading

The Company is working with precious-metals execution venues and brokers to
align physical-gold trading with emerging tokenised-gold infrastructure.

 

Gold Custody and Tokenised Instruments

Vaulting partners and tokenised-gold providers are being integrated to allow
physical reserves to be held, traded or used as collateral within the treasury
framework.

 

Digital-Asset Execution and Prime Brokerage

Onboarding is progressing with institutional OTC desks and prime brokers to
support settlement flexibility, hedging and structured-yield strategies.

 

Digital Custody

Segregated digital-asset custody, through providers like Komainu or BitGo, is
being established for tokenised-gold instruments and any BTC exposure.

 

Risk, Reporting and Treasury Systems

Portfolio-management and risk-infrastructure systems remain on track for
activation to support FY2025 reporting and the next phase of capital
deployment.

 

Technology Partnership
BMV has entered into a development partnership with DOEFIN to advance
intellectual property supporting trustless streaming structures for both
gold-linked and bitcoin-linked contracts. The collaboration focuses on secure
wallet architecture, automated collateral monitoring, and programmable
settlement tools designed to reduce counterparty risk and improve transparency
across future streaming transactions. Further updates will be provided as the
workstream progresses with a proof-of-concept expected in late 2026.

 

Acquisition of Quantum Research & Management Limited - Related-Party
Transaction

 

BMV has entered into a binding agreement to acquire Quantum Research &
Management Limited, a UK company indirectly owned by Chief Executive Officer
Sath Ganesarajah. The company is being acquired for de minimis consideration.
The Board, excluding the interested director, reviewed the transaction under
the Company's related-party governance protocols and approved it on the basis
that the terms are fair and reasonable for shareholders.

 

The acquisition delivers immediate operational benefit, including UK banking
arrangements suited to settlement and refinancing activities, crypto-custody
and digital-operations capability aligned with the Company's Reserve &
Rail architecture, and treasury support functions. The transaction also
provides an immediate balance-sheet benefit of less than one bitcoin through
assets held within the acquired entity.

 

Integration of Quantum Research & Management is expected to enhance BMV's
operational readiness as the Company progresses its revised strategy and
prepares for forthcoming refinancing and streaming-transaction execution.

 

An update on the Company's financing plans and prospectus process will be
provided in the coming weeks.

 

Sath Ganesarajah, Chief Executive Officer stated: "We are pleased to provide
an update on the rapid progress of our strategic transition into a
gold-streaming and treasury company. Our immediate priorities centre on
building institutional-grade infrastructure, implementing robust treasury
governance and advancing high-impact gold-streaming opportunities to deliver
near-term cash flows and scalable, long-term reserves. The groundwork we are
laying has already identified a pipeline of transactions with significant
potential to materially contribute in the short to medium term."

 

For further information, please contact:

 Bluebird Mining Ventures Ltd
 Sath Ganesarajah, Chief Executive Officer  c/o +44 (0)20 4582 3500

 Gracechurch Group
 Harry Chathli, Alexis Gore, Anysia Virdi   +44 (0)20 4582 3500

The Company encourages all investors to share questions on this announcement
via its investor hub: https://bmvbtc.com/s/aca32f
(https://bmvbtc.com/s/aca32f)

 

About Bluebird Mining Ventures Ltd

Bluebird Mining Ventures (LSE: BMV) is a gold streaming and treasury company.
BMV's mission is to build and manage a gold-backed treasury through streaming
agreements, providing investors with exposure to physical gold without the
operational risk of mining.

 

BMV focuses on streams from producing assets within the ore concentrate to
bullion value chain. Its investments secure multi-year flows of gold that can
be recycled into new transactions. This model enables scalable exposure to
gold without capital expenditure, or execution risks.

 

Drawing on its heritage in gold, BMV combines the stability of physical
bullion with the benefits of a scalable, disciplined business model. With a
focus on prudent capital allocation and treasury management, BMV aims to
deliver sustainable, long-term value for shareholders.

 

For more information, please visit: www.bmvbtc.com

 

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