Bluebird Merchant Ventures (EPIC: BMV), the South Korean focused gold development group, is pleased to announce that it has now received the ‘Permit to Develop’ the Gubong mine.  This means that the Company is now free to engage in a full scale operation to reopen the mine and bring it back into production.

Given this positive step for Bluebird, the Company is now very confident that the application for the ‘Permit to Develop’ the Kochang mine will soon be granted.  All the necessary information has been submitted to the authorities and no negative issues have been raised.

The company will be reviewing its options for proceeding to production and will update the market in due course.  The Company has also changed its accounting reference date to 31 December in order to align its year end and accounting process with the South Korean companies holding the permits.

Colin Patterson, CEO, commented:

“This is an exciting milestone for Bluebird and enables us to progress towards becoming a gold producer which will create significant value for our shareholders.”