Proactiveinvestors Australia Bluebird Merchant Ventures Ltd Proactiveinvestors Australia Bluebird Merchant Ventures Ltd RSS feed en Thu, 27 Jun 2019 00:38:51 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[RNS press release - Director Dealing ]]> Fri, 21 Jun 2019 16:00:05 +1000 <![CDATA[RNS press release - Expiry of Warrants ]]> Fri, 21 Jun 2019 16:00:04 +1000 <![CDATA[RNS press release - Publication of Prospectus ]]> Fri, 14 Jun 2019 02:21:52 +1000 <![CDATA[RNS press release - KORES Grant Approved for Kochang Drilling ]]> Thu, 09 May 2019 16:00:02 +1000 <![CDATA[RNS press release - Permitting Update ]]> Thu, 25 Apr 2019 16:00:04 +1000 <![CDATA[RNS press release - Bluebird Receives Response to Gubong Application ]]> Tue, 09 Apr 2019 16:00:03 +1000 <![CDATA[RNS press release - Upcoming Metallurgical Test Work ]]> Wed, 27 Mar 2019 18:00:02 +1100 <![CDATA[RNS press release - Successful Placing of 19,400,000 Shares ]]> Mon, 18 Mar 2019 18:00:05 +1100 <![CDATA[RNS press release - Kochang Permit to Develop and Gubong Mine Update ]]> Tue, 12 Mar 2019 18:00:05 +1100 <![CDATA[RNS press release - Interim Report and Kochang Mine Update ]]> Thu, 28 Feb 2019 18:00:06 +1100 <![CDATA[RNS press release - Kochang Mine Update ]]> Mon, 11 Feb 2019 18:00:05 +1100 <![CDATA[RNS press release - Bluebird Progress Update ]]> Wed, 06 Feb 2019 18:00:02 +1100 <![CDATA[RNS press release - 2019 Strategy Update ]]> Wed, 23 Jan 2019 18:00:03 +1100 <![CDATA[RNS press release - Result of Annual General Meeting ]]> Wed, 02 Jan 2019 23:59:51 +1100 <![CDATA[RNS press release - Notice of Annual General Meeting ]]> Thu, 20 Dec 2018 18:00:06 +1100 <![CDATA[RNS press release - Initial Metallurgical Results from Kochang ]]> Wed, 05 Dec 2018 18:00:03 +1100 <![CDATA[RNS press release - Kochang Mine - Mineral Potential ]]> Tue, 20 Nov 2018 18:00:07 +1100 <![CDATA[RNS press release - Completion of Bluebird's Premium Private Placement ]]> Thu, 15 Nov 2018 18:00:02 +1100 <![CDATA[RNS press release - Bluebird Kochang Mine Update ]]> Fri, 02 Nov 2018 18:00:01 +1100 <![CDATA[RNS press release - Annual Report for the Period Ended 30 June 2018 ]]> Wed, 31 Oct 2018 18:00:03 +1100 <![CDATA[RNS press release - Bluebird Company Update ]]> Wed, 19 Sep 2018 16:00:05 +1000 <![CDATA[RNS press release - Kochang Joint Venture Update ]]> Tue, 28 Aug 2018 16:00:08 +1000 <![CDATA[RNS press release - Completion of Gubong Feasibility Report ]]> Tue, 31 Jul 2018 16:00:23 +1000 <![CDATA[RNS press release - Publication of Research Report ]]> Mon, 09 Jul 2018 19:50:48 +1000 <![CDATA[RNS press release - Further Metallurgical Test Work at Gubong ]]> Thu, 21 Jun 2018 16:00:03 +1000 <![CDATA[News - Bluebird Merchant reports ‘excellent’ results from Gubong ore sample yields ]]> Bluebird Merchant Ventures Ltd (LON:BMW) has announced it has received "excellent’ results" from vat leach metallurgical test work conducted on an ore sample from Adit 4 at the Gubong mine in South Korea.

The Asia-focused resource development group said additional test work carried out on the Gubong oxide sample using a simple process known as vat leaching yielded recoveries of more than 90% (up to 97%).

READ: Bluebird Merchant super-confident about South Korea's mining potential

Bluebird said as the leached and washed ore is of coarse size, it may be readily used as a back-filling material or sold as aggregate.

The company also said that additional test work using enhanced gravity separation have yielded gold recoveries of around 70% into 3% of the mass.

“Simply put, this means that using just a gravity process on 100 tons of ore, 70% of the gold can be captured in just 3 tons of concentrate. The remaining 30% of gold in 97 tons can be stockpiled for later processing,” the company said.

Bluebird said a sample of Gubong tailings (material that has been processed during previous operations), has been received and is being subjected to preliminary diagnostic tests.

Colin Patterson, CEO, of the company, said: "These encouraging results evaluated to date provides us with great confidence that the ore is not problematic and does not require complicated or expensive extraction techniques. This will allow the Company to consider in its feasibility low-cost options for the design and construction of its processing plant."

Thu, 21 Jun 2018 07:36:00 +1000
<![CDATA[RNS press release - Bluebird Signs JV Agreement at Kochang ]]> Wed, 13 Jun 2018 16:00:04 +1000 <![CDATA[RNS press release - Channel Sampling Results of In-situ Ore At Kochang ]]> Wed, 23 May 2018 16:00:06 +1000 <![CDATA[RNS press release - Kochang Underground Grab Sample Results ]]> Tue, 15 May 2018 16:00:02 +1000 <![CDATA[RNS press release - Excellent Initial Metallurgical Test Work Results ]]> Wed, 09 May 2018 16:00:08 +1000 <![CDATA[RNS press release - Laboratory Results From The Water Treatment Plant ]]> Thu, 26 Apr 2018 16:00:02 +1000 <![CDATA[RNS press release - TR-1 ]]> Tue, 24 Apr 2018 01:12:51 +1000 <![CDATA[RNS press release - Ongoing progress at Gubong and Kochang ]]> Mon, 16 Apr 2018 16:25:04 +1000 <![CDATA[RNS press release - Bluebird Completes Farm-in Expenditure at Gubong ]]> Tue, 03 Apr 2018 16:00:09 +1000 <![CDATA[RNS press release - Operational update ]]> Mon, 19 Mar 2018 18:00:05 +1100 <![CDATA[RNS press release - Kochang -Further Access & Gubong -Surface Samping ]]> Tue, 06 Mar 2018 18:00:01 +1100 <![CDATA[RNS press release - Bluebird Accesses Kochang & Interim Report ]]> Wed, 28 Feb 2018 18:00:09 +1100 <![CDATA[News - Bluebird Merchant super-confident about South Korea's mining potential ]]> “We are explorers not miners” is a phrase often used by juniors looking to prove up a project and sell it on.

So it is unusual, rare even, to come across a team at the helm of an AIM-listed company who say the opposite.

WATCH: Gubong shaping up to be a 'company maker' for Bluebird Merchant Ventures

But Colin Patterson and Charles Barclay, respectively chief executive and chief operating officer of Bluebird Merchant Ventures Limited (LON:BMV), insist they are miners through and through and specialist ones at that.

In short, their expertise is re-opening closed mines and at Gubong in South Korea and the nearby Taechang and Kochang, Patterson reckons he has hit the proverbial mother lode.

Friendly address

South Korea is simply the most supportive jurisdiction he has ever worked in, Patterson told Proactive.

No royalties, partial state funding for environmental projects and enthusiastic local governments are worlds away from the backdrop to his previous undertakings, of which there are many, he adds.

Most notably, Patterson points to the rejuvenation of Western Mining’s Emperor gold mine in Fiji.

Having been handed the keys in expectation of an orderly wind-down, within two years production had risen 75% to 140,000oz per year.

Western Mining even sent a team over to the mine to understand where it had gone wrong, he quips.

That project made him (and his backers) a lot of money and it’s clear he sees similar potential in the clutch of projects Bluebird now has on its books in South Korea.

Gubong closed in 1970, but Patterson points out that was at a time when the gold price was just US$40 per oz, whereas most of the mines he had worked struggled to make money at a price of US$1,000 per ounce.

“In those days anything less that 6-7g/t would not have been bothered with.”

But grades of that magnitude are rare now and with the gold price at US$1,350 per oz, what was uneconomic then is looking pretty attractive to Patterson now.

Untouched ore bodies

“At Gubong, we know there are nine stacked ore bodies, only half of which have been mined or partially mined.”

High-grade remnants have already been unearthed in some of the old adits or access tunnels to the worked areas, while Patterson is confident it will find grades of up 3- 6g/t once it gets into the mine in earnest.

“Once when we get into heart of mine, we expect to find virgin ore bodies that are untouched’

“Even in the old high-grade zones, remnants of ore on the ground and grab samples of spillage are up to 20 g/t.”

He adds the reason that no one has gone back to the mine since is that the original explorer made three discoveries straight off, worked those and left when the gold price collapsed.

They were explorers who weren’t interested in complex mining, he adds.

The mining sector, too, dropped off the radar in South Korea as the country went hell-for-leather for technology and IT.

Things have changed now, though, and Bluebird sees the potential for a resource of greater than one million oz of gold at Gubong with a further 300,000 oz in satellite areas.

Admittedly not huge, but the plan is to get into profitable mining at about 30,000oz per year initially and see what the full potential might be as operations go deeper.

Even that might take some time, as the mine has over 120 kilometres of underground tunnels.

Pilot mining will start at 100 tonnes of ore per day, rising to 200tpd at which point Gubong should be self-funding and making around US$10,000 per day.

Partner an explorer not a miner

Southern Gold is the partner in the Gubong venture and also at the two other mines, gold and silver mine Kochang and copper mine Taechang.

Under the arrangement, Bluebird has to pay US$500,000 for a study into re-starting production at each mine along with a A$250,000 placing each time for Southern Gold.

Up to now, Patterson, and his vehicle Management Resources, have been funding the work at Gubong, with the CEO giving a personal guarantee to pay for the re-opening study.

The Gubong report is due in the second quarter and if it is favourable, will likely herald the start of a push across South Korea, once the joint venture is formally cemented.

A fourth mine is reportedly close to being added to the portfolio, though Patterson notes there are over 1,400 abandoned gold mines in South Korea and "many more opportunities.”

Bluebird does have a project elsewhere, at Batangas in the Philippines, though this is on a care and maintenance basis until changes to the country’s mining regime are clarified, which is another reason Patterson perhaps is so keen on the more benign South Korea.

Very confident

Patterson is confident about the future.

“Narrow vein underground mining is a specialist skill not many people have," he says.

“We go in and systematically mine properly, put in the right systems and mining methods and we have the utmost confidence in our ability to make money where no-one else can.”

Mon, 19 Feb 2018 13:06:00 +1100
<![CDATA[RNS press release - TR-1 ]]> Fri, 16 Feb 2018 22:08:00 +1100 <![CDATA[Media files - Gubong shaping up to be a 'company maker' for Bluebird Merchant Ventures ]]> Tue, 13 Feb 2018 13:11:00 +1100 <![CDATA[RNS press release - Bluebird takes on a second gold and silver mine ]]> Mon, 12 Feb 2018 18:00:03 +1100 <![CDATA[RNS press release - Publication of Competent Persons Report ]]> Fri, 26 Jan 2018 18:00:02 +1100 <![CDATA[RNS press release - High Grade Gold Grab Samples at Gubong ]]> Tue, 09 Jan 2018 18:00:02 +1100 <![CDATA[RNS press release - Result of AGM ]]> Thu, 04 Jan 2018 18:00:02 +1100 <![CDATA[RNS press release - Funding Update ]]> Tue, 19 Dec 2017 18:00:03 +1100 <![CDATA[RNS press release - New Registered Office and New Website ]]> Fri, 08 Dec 2017 20:13:17 +1100 <![CDATA[RNS press release - Notice of Annual General Meeting ]]> Fri, 08 Dec 2017 20:11:49 +1100 <![CDATA[RNS press release - 2017 Annual Report ]]> Thu, 07 Dec 2017 21:24:22 +1100 <![CDATA[RNS press release - Temporary Suspension ]]> Wed, 01 Nov 2017 18:45:06 +1100 <![CDATA[RNS press release - Holding(s) in Company ]]> Tue, 31 Oct 2017 21:43:23 +1100