Bluebird Merchant Ventures (EPIC:BMV) (Bluebird or The Company) is pleased to announce that following its recent 100% acquisition of the Batangas Gold Project that an orderly handover with its previous joint venture partner has begun. Bluebird will undertake a comprehensive review of the project in the first quarter of 2017 and will give particular attention to environmental and social aspects of the project.
Furthermore, the Company is now in advanced talks with a potential local partner that can manage the permitting process in order to allow construction to commence. The Company has received several expressions of interest from local groups and the Directors expect to update the market in due course.
The Company has also held exploratory discussions with the Philippine Stock Exchange regarding a potential local listing for its subsidiary. The Company notes that market valuations are generally higher on the local bourse and this could add significant shareholder value.