Bluebird Merchant Ventures Ltd on Wednesday said its Executive Director Aidan Bishop visited South Korea last week to meet the firm’s new local joint venture partner.
The gold development company primarily focused on South Korea said the new local JV partner is investing $5 million into the Gubong gold project.
‘The two parties discussed the optimal path to advancing the project, the relevant community programmes that need to be initiated and discussed land area for mine access as well as meeting with the relevant local landowner,’ Bluebird Merchant said.
Chief Executive Officer Colin Patterson said: ‘Our recent trip to South Korea was highly successful. Having hit the ground running at Gubong with our new partner, engaging in discussions about development plans, the role of our geological team, and community programmes, we now hope to finalise a similar joint venture for Kochang to secure free carries on all our high-grade gold projects.’
Bluebird Merchant shares rose 7.3% to 1.56 pence each on Wednesday afternoon in London.
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