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Bluebird Merchant expects to hear shortly on Gubong application

Gubong was previously mined was to a depth of 500 metres, but typically mines of its type go down as far 1.5Km said Bluebird

Both mines were large producers historically

Bluebird Merchant Ventures PLC (LON:BMV) expects to hear in around two weeks whether its application to re-open the Gubong mine in Korea has been approved.

The miner expects to be asked for clarification on some issues but is confident it can answer these.

Gubong was previously mined was to a depth of 500 metres but typically mines of its type go down as far 1.5km, said Bluebird.

The standard market listee added it has also now submitted its application to re-open Kochang and expects a drilling grant from state-owned mining company Kores this month.

Moving into production

Kochang was mined to a depth of 150m before it closed in the 1970s.

The group expects to be in production at both mines in South Korea by the end of 2019.

Charles Barclay, chief operating officer, said: "We are pleased that development at both Gubong and Kochang is progressing.

“Gubong was the second largest gold mine in Korea for a number of years and Kochang was known for its high-grade production."

Quick facts: Bluebird Merchant Ventures Ltd

Price: 2.1 GBX

Market: LSE
Market Cap: £7.75 m

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