Bluebird Mining Ventures Ltd. announced that the agreement over its gold project in the Philippines is substantially now in final form being only subject to final reviews before execution. The Company expects the agreement to conclude imminently. The key terms, subject to execution, are as follows: Bluebird will receive a 10% profit share from the Philippine gold project in perpetuity over the life of the mine with the implementation of a transparent dividend policy to ensure cash receipts.
Furthermore, Bluebird will receive additional bonus royalty payments of USD 250,000 at every gold sales milestone of 5,000 oz subject to the average gold price over the period being over $3,000/oz. The Philippine project has a JORC compliant resource estimate of 440,000 oz of gold over the total area of the licenses. Bluebird will incur no further expenditure but will retain certain rights of inspection of production plans and records.
As announced on the 5 June 2025, the Company intends to convert cash receipts that it will receive in the future from streaming revenues into bitcoin. This is in line with the Company's strategy (that we believe is a first in the UK) to convert physical gold to "digital gold" i.e. bitcoin. The Company further confirms that it has received the proceeds from the Direct Subscription that was announced on 16 June 2025 and will make a further announcement in due course regarding the issuance of the shares and Admission to trading.
