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Bluebird Receives Response to Gubong Application
Bluebird Receives Response to Gubong Application.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 4598V Bluebird Merchant Ventures Limited 09 April 2019 \n\n9 April 2019\nBluebird Merchant Ventures Ltd\n(the \"Company\" or \"Bluebird\")\nBluebird Receives Response to Gubong Application\nBluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group, is pleased to announce that it has received a positive response to the application for the 'permit to develop' the Gubong Mine. \nThe Provincial Government, the authority that will grant the permit under the authority of the Ministry of Trade, Industry and Energy (MOTIE), has requested clarification and additional information to support the application which is mostly technical in nature. The Company has been given until 17 April 2019 to submit a reply. After careful review, the Company is confident that it will be in a position to submit the formal responses ahead of the stated time.\nColin Patterson, CEO, commented:\n\"The South Korean authorities continue to impress us in their efficiency with regards to permit application processing, which are faster than industry norms. In my four decades working in the mining industry, reopening and operating mines in various parts of the world, I have never seen such a quick response by a government department to an application to develop a mine. This bodes very well for Bluebird.\n\"It is important that shareholders keep in mind that the progress made so far at Gubong and Kochang has been achieved with an expenditure of less than £1.5 million and this has brought us very close to the point of constructing a producing goldmine. Such rapid progress would be difficult to achieve with an exploration project, both in terms of expenditure and the time required to achieve production.\n\"When we produce gold in South Korea it will be of national significance as we will be reopening the first gold mine in South Korea in two decades.\"\nPermit to Develop\nThe application for the 'permit to develop' was submitted on 23 January 2019. The response was received by the Company at the expected time which was forty business days from the date the application was submitted. \nThe Directors are encouraged by the speed in which the South Korean authorities have reviewed the application. In most developed countries a 'permit to develop' can take two years to attain and ...