IN BRIEF: Bluebird Mining completes disposal of South Korean interests

Bluebird Mining Ventures Ltd - British Virgin Islands-based gold streaming, mining and treasury company - Announces completion of disposal of its South Korean interests. Bluebird Mining says it received a nominal cash sum and retained a 2.5% net smelter return royalty over each of the Gubong and Kochang projects. Further, the transaction includes royalty buy-backs in favour of 1575275 BC Ltd, a Canadian mining investment company., exercisable for a consideration of USD2.5 million in respect of each royalty. Bluebird Mining says the disposal strengthens the firm by removing future funding commitments associated with the South Korean projects, and by simplifying the company's corporate structure and reducing legacy complexity, among others.

Bluebird Mining says: "The transaction is consistent with the company's objective of developing a capital-light royalty and streaming platform across mining and treasury assets. Whilst reducing direct exposure to the operational and capital requirements associated with project ownership and development, the company retains exposure to future project success through its royalty interests."

Current stock price: 0.06 pence each, up 14% on Wednesday afternoon in London

12-month change: down 95%

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