Bluebird Mining Ventures Provides Strategic Update
Why we think this is neutral
This RNS announcement does not contain any of the mandatory news types, such as contract news, order news, trading update, financing, funding, annual results, asset sale/disposal, flow testing, licence news, or delisting. Therefore, the sentiment score is set to neutral.
Key Points
- Positive progress in discussions with Philippine partner
- Seeking to preserve value of South Korean projects
- Adopting a 'gold plus digital gold' strategy, converting mining revenues to bitcoin
Summary
Bluebird Mining Ventures Ltd. (BMV), a pan Asian gold project development company, has provided a strategic update regarding the monetisation of its flagship Philippine project and an innovative new strategy. The company expects to conclude an agreement with its Philippine partner within weeks that would extend its free carry beyond the issuance of key permits through to production. Bluebird also intends to seek to preserve the value of its projects in South Korea. Furthermore, the company plans to adopt a 'gold plus digital gold' strategy, converting future revenues from mining projects into bitcoin and holding bitcoin on its balance sheet as a treasury reserve asset.