Bluebird Merchant Ventures (EPIC:BMV) (Bluebird or The Company) an Asian focused resource development company with gold projects in South Korea and the Philippines announces that Colin Patterson, the CEO of Bluebird has subscribed, on behalf of Bluebird, for AUD250,000 of ASX listed Southern Gold shares at A$0.386 per share. This transaction is in line with the farm-in agreement on the South Korean projects, announced on 27 March 2017 and the management funding announcement on 10 April 2017.
Colin Patterson, Bluebird CEO commented: “We recently announced that the legal permissions had been granted to access the Gubong mine. We as management and key shareholders, had decided to fund initial entry into the project and this is part of that funding. I am pleased to be able to invest on behalf of the Company as the potential to re-open what was South Korea’s second largest gold mine is significant.”
The Company expects to update the market again in due course as the Gubong project progresses.