Thursday 26 April 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Woodford Patient Capital Trust: The Big Short (March updates) – WTF happened to the “hard” 10% unquoted limit at the Equity Income Fund?
Bluebird Merchant Ventures (BMV) has updated on ongoing progress at the Gubong and Kochang gold/silver projects – featuring water treatment and metallurgical test work for the former and assays for the latter…
In tandem to completion of the required farm-in expenditure of $500,000 at the Gubong mine, Bluebird Merchant Ventures (BMV) has announced signing of the joint venture agreement.
Okay, Bluebird (BMV) is a corporate client of broker SP Angel so take this report with a pinch of salt but analyst John Meyer is no fool - although he sometimes lacks a sense of humour. And the 24 page report is very detailed. And of course we own the shares and I do think they are cheap at 3.8p although I'm not sure that i am as optimistic as Meyer. Anyhow, he is the expert and writes:
Bluebird Merchant Ventures (BMV), has served up more good news from the land of the dog eaters, that is to say South Korea.
Bluebird Merchant Ventures (BMV) has updated including “there is little doubt that the programme for Kochang has been accelerated in the past week and that the potential to complete the transition to a Joint Venture could be completed within the next six months resulting in a decision to move into construction of the mine. This also allows the company to expand its programme on the far larger project at Gubong which still has the potential for a company maker”.
Bluebird (BMV) really is on a roll in the land of the dog eaters, now announcing that it has signed a deal to develop and reopen a second gold and silver mine. The deal is that once Bluebird has spent $500,000 it can a 50% stake in the Kochang mine currently owned 100% by Southern Gold Ltd. There are some preconditions like South completing a A$250,000 placing but assuming the deal goes ahead it looks interesting...
Bluebird Merchant Ventures (BMV) has announced results of 'grab samples' after engineers gained entry into the old workings at Adit 4 and from spillage in Decline Shaft 2 at the Gubong gold mine - the results “indicating that a significant amount of gold remains unmined at Gubong”...
Bluebird Merchant Ventures (BMV) has updated emphasising “CEO, Colin Patterson, has committed to personally fund the Gubong project through to completion of the Report on Feasibility to re-open the Gubong mine”, “‘soft loans’ of USD 500,000 made to the company by management and key associates have been extended” and “assay results from underground and surface sampling are expected in early January”…
I thought I would give Bluebird Merchant Ventures (BMV) a couple of weeks’ grace to come clean before getting stuck into what I perceived to be a classic piece of BS in its recent RNS relating to the delay in getting its results out leading to a “temporary” suspension. Time's up.
Bluebird Merchant Ventures (BMV) has announced that work is now underway to open up three entrances to the mine at Gubong in South Korea. The target entrances were found using Ground Penetrating Radar, chatting to the locals and from historical information on what was once the country's second biggest gold mine.
*Bluebird Merchant Ventures (BMV) is a former unsuccessful share tip of ours – though our 3.5p July sell advice has proven correct, with the shares presently at a 2.5p offer price. However, there is now a new CEO and a new focus which leaves the shares materially undervalued at the current sub £5 million market cap and we are expecting more news soon...
In this video from the storming success that was the 2017 UK Investor Show, Charles Barclay, COO of Bluebird Merchant Ventures (BMV), is at the podium. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
This week’s strategy update from Bluebird Merchant Ventures (BMV) reminded me that I meant to go searching for its interims as it had done that really annoying thing that rubbish companies do in not actually putting the interims in the RNS, but merely putting a link to the website and then it isn’t actually on the website till later. Having finally tracked them down, I now realise why the company wanted to hide them away as they make horrific reading.
Earlier last week there was cracking news on the Batangas gold mine which - on its own justifies a multiple of the current share price. But now we have confirmation that Bluebird's (BMV) copper concentrate trading operation has banked its first cheque. More will flow and quickly.
We have had nothing but good news from Bluebird Merchant Ventures (BMV) since its IPO yet the shares have fallen. But we know why and we tell you now you must buy.
We now have evidence that some of those who invested in Bluebird (BMV) at the IPO are ignoring lock-ins. That is seeing the shares slip when they should be racing on more good news. We expect this matter to be resolved very shortly indeed and the re-rate to then start and to be dramatic. That makes the shares a buy now.
BlueBird Merchant Ventures (BMV) is a stock that has not flourished since gaining a Standard Listing on the LSE on April 20th. Listed at 5.75p the shares now trade at 3.5p - 4p but that makes them look very cheap. They could double from here, easily.
No offence intended but I would rather that Aidan Bishop who is the man behind Bluebird Merchant Ventures (BMV) had presented at UK Investor Show not Clive Sinclair-Poulton. Aidan is a class act and next year I hope he is around. We own these shares and are excited aboout what will happen. Enjoy
I really hate backing IPOs. Many companies just struggle to adjust to life as a public company, it is like those cricketers who are great at proper cricket but just can't make the adjustment to the pyjama game. Whatever. We have had a small exposure (well not that small actually) today in Bluebird Merchant Ventures (BMV) - Bluebird Mining as was - which is the first mining stock to make it to the London market in eight months.
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