Bluebird Mining Ventures (LSE:BMV, FRA:09D) shares traded down some 35% on Wednesday, to 0.11p, after it raised £750,000 in a placing as the London-listed group moves from building out its platform to deploying capital across a pipeline of hard-asset opportunities.
The company is issuing some 750 million new shares at 0.1p in the raise, organised by CMC Markets' CMC CapX.
Bluebird told investors the proceeds will be used to progress its pipeline and fund investments intended to add value as it develops its gold streaming and treasury model. It noted that it follows continued progress across both its investment pipeline and treasury platform.
The company added that, as outlined earlier this week, it is in advanced talks over opportunities targeting short-duration paybacks and high returns, spanning gold streaming, bitcoin infrastructure and powered land.
Chief executive Sath Ganesarajah said the fundraise showed investor backing for Bluebird’s strategy and said the proceeds would be used exclusively for hard-asset investment aimed at growing net asset value.