Its shares were up 9.50% to 2.19p (USc) per share.
The placement included 11.8 million common shares and warrants at a premium of 2.5p/share. The warrants have a 12-month expiry.
Bluebird said it would also be converting the £580,000 in funding from CEO Colin Patterson at a premium of 2.5p, with the shares to be issued after the future publication of a prospectus.
The company is busy earning into 50/50 joint ventures with Southern Gold at both the Gubong and Kochang brownfield gold mines and recently ticked off the final expediture required for the Kochang JV .
