Bluebird Mining Ventures Ltd., a pan-Asian gold project developer listed on the London Stock Exchange, has announced a strategic update focused on monetizing its flagship project in the Philippines while embracing an innovative approach involving bitcoin.
The company recently renewed the permit for its Philippine project on May 6, 2025. Since then, discussions with its local partner have advanced significantly, with Bluebird expecting to finalize an agreement in the coming weeks.
This deal will extend Bluebird’s free carry interest through to production, allowing the company to maintain a net profit stake without bearing additional costs.
Meanwhile, Bluebird is preparing legal action in South Korea to protect the value of its mining projects there. Its legal team has drafted documents for an administrative lawsuit scheduled to be filed before June 18, 2025. Despite challenges, Bluebird remains focused on exploring ways to progress these projects without further capital outlay.
Reflecting on its evolving business model, Bluebird plans to adopt a pioneering treasury strategy by converting future revenues from gold mining into bitcoin, often referred to as ‘digital gold.’ The company intends to hold bitcoin as a treasury reserve asset, marking a potentially unique move for a UK-listed mining firm.
Gold has long served as a store of value and industrial material, while bitcoin’s rising popularity stems from concerns over monetary policies, inflation, geopolitical tensions, and its fixed supply of 21 million coins. By combining income from gold projects with bitcoin holdings, Bluebird aims to offer shareholders exposure to both traditional and digital stores of value.
The company is also actively seeking a new CEO experienced in digital assets to lead this initiative. Several candidates are currently in discussions.
Aidan Bishop, Bluebird’s Executive Director and Interim CEO, commented on the developments: “I am very pleased with the progress of discussions in the Philippines which are looking very positive and will enable, if successfully completed, Bluebird to maintain an ongoing exposure with zero future cash commitments.”
He also added, “By adopting a ‘gold plus a digital gold’ strategy, it offers the Company an opportunity to turn the page and look to the future and seek to attract a new type of shareholder. Under the leadership of a new CEO, once identified, it is my sincere hope that Bluebird will finally realise its ambitions for which it was initially established for.“
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