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Bluebird Merchant confident second mining permit in Korea will be awarded soon

Bluebird estimates the indicated and inferred resource at Kochang at 117,000oz.

Bluebird Merchant Ventures Ltd -
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.

Bluebird Merchant Ventures Ltd (LON:BMV) has formally received a 'Permit to Develop' the Gubong gold mine in South Korea, enabling it to start work immediately on re-opening the historic mine. 

The junior added it is now very confident that the application for the 'Permit to Develop' the Kochang mine will soon be granted. 

Bluebird is changing its year-end to end December to align its results with the South Korean businesses that hold the permits.

In September, Bluebird reported the Koreans had signalled their intention to award the permit for Gubong, where Bluebird sees the potential for a resource of greater than one million oz of gold.

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.

Bluebird estimates the indicated and inferred resource at Kochang at 117,000oz.

Quick facts: Bluebird Merchant Ventures Ltd

Price: 2.0899 GBX

LSE:BMV
Market: LSE
Market Cap: £7.71 m
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Morning Report: Bluebird Merchant Ventures receives permit to develop...

Headlines from the Proactive UK newsroom. Bluebird Merchant Ventures (LON:BMV) has received a 'Permit to Develop' the Kochang mine in Korea. Gold production will start next year with the potential for annual output to rise to 30,000oz of gold over three years. Ariana Resources (LON:AAU)...

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