- Bluebird Merchant Ventures said Friday it had completed the required spending commitment to farm-in tp the Kochang mine as part of the initial joint venture agreement with Southern Gold.

Under the terms of the agreement, Bluebird was required to spend A$250,000 into partner Southern Gold and spend at least US$250,000 on a feasibility report into reopening the mine.

The report on the feasibility of reopening the Kochang mine, the final requirement of the farm-in process, was expected to be submitted to Southern Gold within the next five weeks.

'The company is highly satisfied with the progress made at Kochang It appears to us to be a mine with great potential and we look forward to the formation of the Joint Venture and to publishing some of the very encouraging results from our work in the last year, said Colin Patterson, CEO.

'Our latest observations at the Kochang silver workings give us a good indication of conditions we can expect in bringing the mine back into production.'

At 9:04am: [LON:BMV] Bluebird Merchant Ventures Ltd Ord Npv Di share price was 0p at 2.05p

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