- Bluebird nears a Philippine gold mine deal ensuring lifetime profit share without further capital investment or operational costs.
- Bluebird will convert future gold revenues into Bitcoin and hold Bitcoin directly as a treasury reserve asset.
Bluebird Mining Ventures Ltd., a company developing gold projects across Asia, has provided updates on its flagship Philippine operation and detailed a new corporate approach involving Bitcoin.
Philippines Project Monetisation Advances
Discussions with the company’s Philippine partner have progressed substantially. Bluebird expects to finalize an agreement within weeks. This agreement would extend Bluebird’s financial interest in the project beyond the recent permit renewal, confirmed on May 6th, 2025.
Crucially, it would cover the period through to actual production without requiring Bluebird to contribute further capital. The company aims to secure a net profit share from the mine for its entire operational life, avoiding associated operational costs. This follows a May 15th announcement regarding potential value realisation.
South Korea Legal Action Prepared
Regarding its South Korean projects, Bluebird confirms its legal counsel has prepared documentation for an administrative lawsuit. This legal action, referenced in a May 27th announcement, must be filed before June 18th, 2025. The company states its intention is to protect the value of these assets despite recent difficulties. Bluebird will also actively seek paths forward for these projects that do not demand additional company investment.
Corporate Strategy Shift: Incorporating Bitcoin
Following a review of its future direction, Bluebird has decided on a new strategy for managing its corporate treasury and potential mining revenues. This decision considers the anticipated Philippine agreement and the ongoing South Korean situation.
The company acknowledges gold’s long-standing role as a store of value and its industrial uses. However, Bluebird also observes the rising global acceptance of Bitcoin, frequently called ‘digital gold’. Factors driving Bitcoin adoption include central bank monetary policies, high global debt levels, geopolitical instability, and inflation concerns.
Bluebird sees an opportunity. The company plans to convert future revenues from its gold mining projects into Bitcoin, effectively transforming physical gold into its digital counterpart. Additionally, Bluebird intends to adopt a formal policy holding Bitcoin directly on its company balance sheet as a treasury reserve asset. Further details on this policy will be shared later.
Executive Commentary
Aidan Bishop, Bluebird’s Executive Director and Interim CEO, commented:
“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.
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.”
