Taechang Mine - Low & High Targets at Gubong Mine, page-13

Hello Dingoheeler,

They have 12 months to complete the feasibility report, but I recall they mentioned this can be done much quicker timeframe - 2 years sounds quite stretched imo.

Agree, once they are in the mine they will assess the Ore / Tailings first to see if they can place this into production / sales so as to create cash flow, hopefully Capex will be based on the feasibility report outcome

Will try & find out the cost of the mining plant, hopefully it's not too expensive as they hinted no BFS is required for this mine (Gubong) - could this be partly subsidised from the Korean Govt? They pay a large percentage towards rehabilitation of mines. So it would be very interesting to see what costs / capex they will / may subsidise?

Think they will raise debt finance & very little equity placement being a proven gold mine with most of the infrastructure already built, other than refurbishment - If this was an exploration mine, then yes they will need a BFS & share placings - as it will be too early stage to raise against Debt funding.

The power grid is next to the mine which will save plenty of costs - please see below extracts from recent rns's from BMV:

" Access to the site is exceptional with tar sealed roads to within 100 metres of the mine area. The power grid is also adjacent to the property"

" As we will initially be having very few people underground and little equipment, we can work in natural ventilation which is the same as would be foundin caves. This is the reason we need to have an open airway. The added benefit is that it will also save us a lot of power costs."

" In addition, our information suggests that the mine closed without a systemic program to salvage any of the predeveloped stopes, pillars, remnants, broken ore and vamping. This is highly significant to Bluebird as it means there can be good potential for early, low-cost mining. An added bonus is a tailings dam that could be a retreatable asset"

" Once the main entrance to the mine is reopened the team will seek to gain entry and make safe as many old production areas as possible. Extensive sampling will then be done in these areas and the samples then assayed. Following this all information will be collated and the development of a production plan will be initiated. It is also expected that by this time some of the resource estimates will be upgraded to JORC. Following the completion of the initial production plan the team will do an economic assessment on various operation options. When compared to conventional exploration, the time frame and cost is minimal"

https://www.investegate.co.uk/blueb...bong-gold-mine-commences/201707180700042901L/

Thanks Mr Kodal