Bluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group, is pleased to announce that confirmation has been received that the “Permit to  Develop” the Gubong Mine has been granted. The Joint Venture Company expects to receive the formal permit soon and shall update the market in due course.  The “Permit to Develop” is the first to be issued for a gold development project since Ivanhoe Mines were issued a permit in the 1990s.

Colin Patterson, CEO, commented:

“This is a transformational event for Bluebird with approvals being granted that set us on course to become a gold producer .  In four decades in the mining industry I have never seen a permit issued so quickly to allow a mine to enter the production phase.  This is very positive for the Company and also for the future of the South Korean mining industry. With the gold price rising this highlights just how much more attractive it is to reopen old mines compared to exploring for and developing new mines.”