Bluebird Merchant Ventures Limited Copper Concentrate Trading Update (2170F)
July 26 2016 - 3:00AM
UK Regulatory
TIDMBMV
RNS Number : 2170F
Bluebird Merchant Ventures Limited
26 July 2016
26 July 2016
Bluebird Merchant Ventures LTD
Copper Concentrate Business Update
Bluebird Merchant Ventures (EPIC:BMV) (Bluebird or The Company)
a Philippine focused resource company currently engaged in the
trading of copper concentrates and with an investment in a
Philippine gold project, Copper Concentrate Trading business
update.
The Company is pleased to announce that upgrading of the process
plant and the laboratory building have been completed. The company
has completed metallurgical test work on ore samples from 5 mining
areas and four of these areas returned positive economics. The
Group's local partner has signed an ore supply agreement with one
of these groups of small scale producers for up to 20,000 tons per
annum.
The test work demonstrated the potential to produce copper
concentrate grades of 25 - 28 % and gold of 8-10g/t. These results
are considered to be representative but cannot be considered as
fixed. However, should these grades be achieved they would
represent a net trading profit of US$ 550 - 670 per ton of
concentrate at current metal prices.
Whilst the supply agreement is for up to 20,000 tons the company
is assessing the logistics of supply to determine what it deems to
be realistic volumes and expects to update the market in due
course. Additional ore supply agreements are expected to be
announced in due course.
Enquiries:
Bluebird Merchant Ventures
Ltd +63 917 8615 604
---------------------------- --------------------
Charles Barclay, CEO
---------------------------- --------------------
Optiva Securities +44 (0)203 137 1902
---------------------------- --------------------
Jeremy King / Christian
Dennis
---------------------------- --------------------
Walbrook PR Limited +44 (0)207 933 8783
---------------------------- --------------------
Gary Middleton / Nick
Rome
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This information is provided by RNS
The company news service from the London Stock Exchange
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