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Bluebird Merchant Ventures impressed with speed of progress on permit applications

In respect of the application to reopen the Kochang gold mines, the county authorities, whose opinion is sought by the relevant province, wished the company well in its endeavours to bring the industry back to the county

Mining truck
"I have never seen such efficiency with regard to permit application processing as we are experiencing with the South Korean authorities"

Bluebird Merchant Ventures Ltd (LON:BMV) has provided an encouraging update on the permitting process for the reopening of the Gubong and Kochang gold mines.

As previously announced, the provincial government has requested clarification and additional information to support the application for a permit to develop the Gubong gold mine in South Korea; Bluebird said it has provided its proposed community development programme and also a letter, signed by a number of the local residents, supporting the reopening of the mine.

Bluebird expects that the response will enable the application to reopen the mine to progress and reach a successful conclusion.

READ: Bluebird Merchant Ventures receives positive response to application to develop Gubong gold mine

As for the application for the permit to develop the Kochang Mine, this has progressed faster than expected.

There was a request for a small amount of additional information and the company has now submitted the response and expects the application to reach a successful conclusion.

"As previously stated, in four decades of working in the mining industry, I have never seen such efficiency with regard to permit application processing as we are experiencing with the South Korean authorities. This bodes very well for Bluebird as we advance towards gold production," said Colin Patterson, the chief executive officer.

Shares in Bluebird were up 2.2% in early deals.

Quick facts: Bluebird Merchant Ventures Ltd

Price: 4.25 GBX

Market: LSE
Market Cap: £15.89 m

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