Bluebird Merchant Ventures
BMV · Main Market · Basic Resources · mcap £1.2m · 0.0p 3 open situations →
- EV
- £1.3m
- EV / EBIT
- –
- Net cash
- £157k
- FCF yield
- –
- Revenue
- –
- Share price 1y
- −90%
- Insiders 12m
- no deals
- Next report
- around 30 Apr
Open · 3
Buyback programme
On 19 Oct 2026 the board approved an on-market buyback of up to £300,000 or 350m shares (about 10.9% of issued capital) over six months. Shares go to treasury to meet share-based pay obligations after the contractor pool was fully allocated, otherwise cancellation. Brokers are not yet appointed and there is no commitment to buy.
- Size
- Up to £300,000 and up to 350,000,000 shares (about 10.9% of issued capital) 19 Oct 2026 ↗
- Duration
- Six months from commencement, unless completed, suspended or terminated earlier 19 Oct 2026 ↗
- Purpose
- Treasury pool to meet warrants, options or share allocations to employees and management; otherwise cancelled 19 Oct 2026 ↗
- Commitment
- Maximum parameters only; no commitment to buy any number of shares 19 Oct 2026 ↗
- Next milestone
- Broker appointment and commencement date to be announced 19 Oct 2026 ↗
- Max price
- Higher of last independent trade and highest current independent purchase bid 19 Oct 2026 ↗
Next: Broker appointment and commencement date to be announced
- 26 Oct 2026 proposed
- 19 Oct 2026 proposed
Gold streaming and treasury pivot
Follows from Sale of South Korean gold projects – Completed 25 August 2026, closed 4 Sep 2026
BMV is pivoting from exploration to a gold streaming and treasury model, now framed as Energy Harvesting, Metal Harvesting and Treasury. The 120-day Santa Teresa option was announced on 7 September 2026. On 6 October 2026 BMV confirmed the £75,000 payment, a 90-day Mexican work programme and a larger 88,600 oz JORC resource replacing the 64,000 oz figure. Strategy papers and an Investor Day follow on 22 October 2026.
- Hashrate contracts
- Terminated; US$13,929 revenue against costs of about US$15,004 5 Oct 2026 ↗
- Santa Teresa
- £75,000 option consideration paid; project update expected shortly 5 Oct 2026 ↗
- Reporting change
- Standalone monthly NAV updates discontinued 5 Oct 2026 ↗
- Option payment
- £75,000 paid, confirmed 6 October 2026 6 Oct 2026 ↗
- Resource
- 88,600 oz Inferred (369,000 t at 7.47 g/t Au), 2020 JORC; supersedes 64,000 oz 6 Oct 2026 ↗
- Work programme
- Initial 90-day programme on mineral rights and Mexican project structure, led by Duarte Legal 6 Oct 2026 ↗
- 6 Oct 2026 El Alamo option paid; Mexican work underway
- 5 Oct 2026 Plan shaped as two businesses; October publication due
- 8 Sep 2026 Operating plan under development; update due October
- 7 Sep 2026 First gold asset option secured; Bitcoin stream earning
Liquidity and related-party funding
Part of Placing of 36% of the market value – completed, closed 19 Feb 2026
Skylake, the CEO-controlled lender, acquired legacy creditor loans of about £200k, which fell due in December 2025 with extension pending. On 18 Sep 2026 BMV agreed to convert £197,200 into 328,666,667 shares at 0.060p to preserve cash and deleverage. The board approved it as a related-party deal; admission is expected 25 Sep 2026.
- Amount
- £197,200 creditor balance owed to Skylake, previously disclosed 9 April 2026 18 Sep 2026 ↗
- Price
- 0.060p per share, a premium to the 30-day and 90-day VWAP and to the 17 Sep 2026 close 18 Sep 2026 ↗
- Size
- 328,666,667 new Creditor Shares 18 Sep 2026 ↗
- Related party
- CEO Sath Ganesarajah controls Skylake; board approved under DTR 7.3.8R 18 Sep 2026 ↗
- 18 Sep 2026 Conversion agreed; awaiting admission
- 18 Dec 2025 £200k loans due Dec 2025 pending extension
Closed · 5
Company filings. Not investment advice.