https://www.miningweekly.com

Bluebird completes farm-in expenditure at Gubong

3rd April 2018

By: Creamer Media Reporter

     

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JOHANNESBURG (miningweekly.com) – Asia-focused Bluebird Merchant Ventures last week executed a formal joint venture (JV) agreement with Southern Gold for the Gubong mine, in South Korea.

This follows the completion of the required farm-in expenditure of $500 000 at the mine.

Bluebird said on Tuesday that the final requirement for the start of the JV was to complete a report on the feasibility of reopening the Gubong mine, which was shut down decades ago when the gold price was about $140/oz.

The report, the company stated, would be finalised in July. Thereafter, the costs of the JV would be shared on a 50:50 basis and Bluebird would act as the JV manager.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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