LONDON: Bluebird Mining Ventures Ltd. said it is evaluating potential opportunities following the renewal of its flagship Philippine gold project permit, including a possible sale of its remaining stake.
The pan-Asian gold developer disclosed that its local partner has expressed interest in acquiring Bluebird’s remaining interest in the project. While discussions are set to begin, the company cautioned that no formal offer has been made and there is no guarantee that a transaction will materialize.
The update follows Bluebird’s earlier announcement on Feb. 17, when executives signaled interest in “early monetization” of assets, citing a valuation gap between its market capitalization and the gold project alone. Since then, gold prices have surged beyond $3,000 per ounce, adding momentum to potential deals.
“The recent renewal in the Philippines is clearly a positive development, and given the advanced nature of the project, it is encouraging to see growing interest,” said Bluebird Executive Director and Interim CEO Aidan Bishop.
The company said it will continue evaluating options to maximize shareholder value.