Trading Bougainville Copper (ADRs) 867948
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Ja @sumoey, da hat diese kleine Handvoll BCL-Aktien, die in AU wenige Sekunden vor und kurz nach Börsenschluss noch schnell zu >1,60 AUD ge-/verkauft wurden, dem Kurs in D nicht über die 1,20-€-Marke geholfen. Mal sehen, ob der von einigen hier anlässlich der HV erhoffte oder sogar erwartete "BigBang" sich morgen noch einstellt, wenn die Kaufinteressenten die ganze Tragweite der Verlautbarungen auf der HV erst mal erkannt haben.
Im Übrigen: John Bollinger, hilf!
... vor allem die heutigen wahnsinns Umsätze hier in DL machen mich ganz schwindlich ...
ganz zu schweigen vom Kursanstieg ...
... und ich komme gar nicht nach mit dem lesen der ganzen -positiven- Beiträge hier ...
(Modus ERNST!!!)
... ich gehe davon aus, wir dürfen wohl mindestens noch ein Jahr warten, bis evtl(!!!) tatsächliche ernste Ergebnisse verlautet werden ......... UND(!!!)
ich schätze, wir sehen mindestens nochmals die 0,7xx bis 0,5xx € ...
(allerdings hoffe ich(!!!) ... ich täusche mich!!!) ...
... der BIGBOCBANG war es heute wohl nicht gerade gewesen ...
Hat jemand schon mehr direkt von der HV gehört ???
... was sagen die "groooßen" Ohren ???
... waren Momis etc auch da ???
Es hat glaube ich niemand hier ernsthaft erwartet, daß bei der BOC-HV der entscheidende Anstoß zur Wiedereröffnung kommt. Das ist meines Wissens auch von den Personen, die in beispielhafter und hervorragender Manier seit Jahren eine riesige Menge an Informationen der mehr oder minder breiten Masse unentgeltlich zur Verfügung stellen, so niemals behauptet worden. Explizit möchte ich hier noch einmal Marcel und Axel für ihren jahrelangen unermüdlichen Einsatz nennen und danken.
Von allen beteiligten Parteien hat BOC sich doch zwischenzeitlich am deutlichsten positioniert und spricht, indianisch ausgedrückt, am wenigsten mit gespaltener Zunge.
Direkt von BOC kann folglich nichts großartig Positives mehr kommen, die nächsten Schritte, sofern sie denn erfolgen, müssen von Bougainville selber bzw. von Papua-Neuguinea ausgehen.
Aber diese Mischung aus krudem Gedankengut und unglaublicher Korruption, garniert mit extremen Egoismus und Verantwortungslosigkeit so mancher der beteiligten Parteien läßt meine Zweifel an einer Lösung, von der alle profitieren, nicht geringer werden. Da kann man mir noch soviel fehlendes Verständnis für die Mentalität fremder Volksgruppen unterstellen, sehr viele Hindernisse existieren mM nach nur aufgrund einer unglaublichen Gier einzelner Beteiligter.
Gruß Taxbax
BOUGAINVILLE Copper president Peter Taylor has hailed the election of John Momis as president of Bougainville, while estimating the cost of the Panguna mine reopening could run as high as $3 billion.
Momis was elected for a five-year term with an absolute majority, leading Taylor to tell shareholders at the company’s annual general meeting in Port Moresby yesterday the election would ensure stability as negotiations between the government, company and landowners continued.
“This is an important development for the company because the next five years is the period in which the mine should be reopened to take advantage of the resurgence in mineral commodity prices and demand,” he said.
“The company will need the support of the new president and the cabinet as well as landowners.”
He added that although there was much detail to work through, there was common agreement that recommencing operations on Bougainville would lead to positive outcomes both locally and regionally.
Rio Tinto’s recent application for exploration licences in the project could be taken as a sign it was willing and able to assist in Papua New Guinea’s future mineral development.
Before any mining can happen on the island, the Bougainville Copper Agreement will have to be amended.
The agreement was drawn up in the late 1960s, before Papua New Guinea became independent and Bougainville existed as a separate province.
http://www.pngindustrynews.net/...toryid=2390593§ionsource=s0
The National, Wednesday, April 20, 2011
By JEFFREY ELAPA
“TODAY, I propose to transfer wealth to resource owners, to those simple villagers who are blessed with owning a piece of inherited customary land, many of whom remain poor – so they too can
enjoy a worthwhile, more satisfying life.”
So saying, governor of New Ireland and former prime minister, and one of the longest serving parliamentarians, Sir Julius Chan yesterday proposed before a parliamentary committee to turn the mining, oil and gas extraction regime on it head.
He proposes, among others, to:
*Wrestle ownership of minerals and oil and gas back from the state into the hands of customary landowners;
*Devolve resource development powers to the provincial governments;
*Have local companies be licensed to explore and develop mineral and oil and gas resources with management rights extended to foreign firms if no expertise is found onshore; and
*Streamline existing state agencies into two so that one engages in exploration and extraction activities and another being an investment house. Sir Julius, who moved a motion on May 14, 2009, for a comprehensive review of the Mining Act of 1992, said in a hard-hitting presentation that PNG was a country in “crisis”.
“If we do not correct some serious faults and failures in the way we approach the extraction of resources such as minerals, gas and oil, we will not only continue to fail to deliver progress to our people but will put the very survival of our country at peril.”
He said history had shown that resource-rich nations like PNG did not often do well while resource-poor countries like Singapore and South Korea do very well indeed.
He said this was because of the effects of the “resource curse” linked to resource developments, which drive up the cost of doing business in the country so that all other sectors of the economy suffer while only the resource sector prospers.
While the “resource curse” could be beaten, as had been experienced in other countries, it could only happen in PNG with a quantum shift in the way the resources sector was managed from the legal and policy framework up, Sir Julius said.
He said the past ad hoc and project-to-project approach should be reviewed so that resource landowners and the provincial government take ownership of their resources.
He blamed the current regime on no particular PNG administration but on a historical accident where PNG had inherited an Australian colonial legislation that discriminated against and took ownership of minerals and hydrocarbon resources from landowners and vested it in the administration, later the national government.
From then on, he said, it was “a story of ineptitude, ignorance, robbery and deceit”.
“It is shocking such a story can be told; even more shocking that it is the truth. But, it is the truth.
“We – the state, the people – have been duped. I know it is uncomfortable, but we must face the truth.”
Sir Julius, a former prime minister and the minister for finance, said ownership of the resources by the landowners was important for the equitable distribution of benefits.
He said PNG had been described as a “mountain of gold floating on a sea of oil”, but the truth was that the wealth of the nation was squandered and, in so doing, condemned our people to poverty while others prospered.
“Without mincing words, our country has been systematically giving away its birthright.
“That is not rhetoric; it is literally true.
“We may be pardoned for this at self-government, at independence but, after 35 years, we should have matured.
“The national government either does not understand or does not care that the way it has structured the minerals, oil and gas industries – indeed, the entire renewable and non-renewable resource sector, including fisheries and forestry – is not only wounding the people of this country, it is robbing the state of what should be its legitimate incomes for the development of the country.
“How has this happened?
“Put politics aside. We need to take a bi-partisan approach to correct our mistakes.
__._,_.___
20.04.2011
Source: Post-Courier
By PETERSON TSEHARA
THE Autonomous Bougainville Government is calling on the United Nations to provide funds for the Panguna Unification Process.
Vice president Patrik Nisira has called on other overseas aid agencies in Bougainville to consult with the ABG and Panguna District Administration to source funding for projects that would help the unification process jointly established by the ABG and the Me’ekamui leadership.
Mr Nisira, speaking as the acting President of the ABG in Panguna last week, singled out the UN/UNDP and AusAID to come to the aid of the people of Panguna, whom he said had missed out on many basic government services due to the “no go zone” syndrome that was placed on them by their leaders, who have since signed a Memorandum of Understanding, known as the Panguna communiqué with late President Joseph Kabui.
“While the ABG has included the Panguna District Administration in its annual budget, funds have not often adequately met the required programs that would meet the people’s demand, and I am therefore, through Anthony Agyenta, the UN representative who is present here, seeking your specific assistance and that of AusAID for and on behalf of the people of Panguna and Ioro COE for that matter,” Mr Nisira said.
“The communiqué among other things, had opened up a whole lot of development initiatives for Panguna, including a joint working relationship between the Me’ekamui and the ABG in Panguna, and a user friendly check point at the Morgan Junction.
“The process has been especially established to unite the people in the mine affected district, to enable them to be involved in a peace and reconciliation program, initiate development projects for their communities and enable their leaders to be involved in proactive discussions for autonomy building in Bougainville.”
http://www.pngindustrynews.net/StoryView.asp?StoryID=2390591
Wednesday, 20 April 2011
PRIME Minister Sir Michael Somare has reportedly taken indefinite medical leave and has backed deputy Sam Abal to stand in for him.
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PNG Prime Minister Sir Michael Somare |
According to Australian Associated Press reports, Sir Michael was in Singapore following his suspension from office for tax fraud to celebrate his 75th birthday and undergo a minor medical procedure.
In an emailed statement, Somare thanked all those who were wishing him back to good health.
“The country is in good hands and, while I am pleased that the period of my suspension is now over, I will remain on medical leave until further notice,” he said.
“I take this opportunity to once again thank all the visitors and well-wishers, including those who are praying for my return to good health and speedy recovery.”
He also personally thanked Australian Foreign Minister Kevin Rudd, who visited him during his stay in hospital.
“During this period of infirmity, I was also fortunate enough to be visited by my former Australian colleague,” he said.
“We discussed various issues surrounding my health, and the possibility of a visit by Mr Rudd to PNG in May this year. I reassured him that he is a friend of PNG and we will be looking forward to his visit.”
He was expected back at work yesterday after his suspension from office.
Somare was found guilty of breaching the Leadership Code in March for failing to properly file personal tax returns over several years.
The Leadership Tribunal, led by former Australian Federal Court judge Roger Gyles, New Zealander Sir Bruce Robertson and Englishman Sir Robin Auld, found Somare guilty of 13 of the 25 counts of misconduct laid against him by the Ombudsman Commission.
He was found guilty of five counts of filing tax returns late and eight counts of failing to fill out a tax return properly, but was cleared of failing to file any returns over a three-year period in the 1990s.
Last December, speaking at the Papua New Guinea Mining and Petroleum Investment Conference, he said he was confident the political groundwork had been laid for another generation to continue the current resources development in the country.
“In 2012 the leadership baton would have been passed on to a new generation,” he said.
“I feel entirely confident that the foundation set by government will augur well for the future of Papua New Guinea's mining and petroleum industry and, ultimately, the future of the people in Papua New Guinea.”
Ex PM Julius Chan,der für seine Insel New Ireland (Lihir Gold Mine) ist auf einer Linie mit Präsident Momis was Autonomie bzw. Independance von PNG betrifft.Es war Chan der in den 80 ern 2x die BCA Review verhindert hat,was als der Auslöser der "Crisis" gilt.
Im letzten Jahr reiste er zwecks Reconciliation mit der B´viller Bevölkerung nach Buka.
20.04.2011
Source: The National
FORMER prime minister Sir Julius Chan asked three questions yesterday to the parliamentary referral committee on minerals and energy.
1.Can you buy what you already own?
2.Does it make economic or business sense to transfer title in property to someone freely or for a paltry payment of K10,000 and then buy back a 30% interest in that same property for K300 million?
3.Does it make sense for a country to earn billions in income and not be able to improve the lives of its people?
To all of these questions, Sir Julius, now governor of New Ireland, answered in the affirmative.
He elaborated: “First, the state cedes exploration and production rights to foreign companies for next to nothing. Insignificant licence fees are charged – often K10,000 – and royalties of 2% are levied.
“But, for this pittance, the foreign developer gets full control of all the wealth that can be taken from the ground.
“The next step is for the state to seek equity in the project, usually 30% in a mining project and 22.5% in an oil or gas project.
“The state has ‘given away’ the entire resource to a foreign company, and now returns to buy what was already legally its own property by spending K200 million or K300 million, or even more, for a 30% interest in the project. And, to do so, the state usually takes out a commercial loan that puts the country further into debt at high interest rates.”
However preposterous the prospect might seem, when you view it when it is presented as starkly as that, it has happened in Papua New Guinea, it is continuing to happen and will continue into the foreseeable future until and unless something is done about it.
We agree entirely with Sir Julius:
“This is ludicrous.
“ It is reckless and stupid. It is a complete failure of the state to act as the sworn steward of its people.”
How did this happen?
What can we do about it?
Sir Julius provided historical material, derived from extensive research into the history of resource extraction in PNG and abroad, in places as diverse as Norway in Europe, Botswana in Africa and Chile in South America in answer to the first question.
He drew on the desires enshrined in the preamble to the constitution which calls for equitable distribution (goal No.2), PNG ways and self-reliance (goal No.3) and how, 36 years on, PNG is as far away, if not further, from achieving these goals than it was at independence.
In answer to the second question, he made a series of proposals, principal among them being to amend the Mining Act (1992) and the Oil and Gas Act (1998) to reverse the ownership of all minerals and hydrocarbon reserves six feet under the ground from the state back to the landowners.
Along with this, Sir Julius has proposed strategies that will completely change the current resource development regime in the country.
He wants Waigani to transfer more powers to the provinces in relation to resource development.
He wants more Papua New Guinean companies to be in control of the development of resources from exploration to extraction activities.
Where foreign companies discover commercial quantities of minerals or oil and gas reserves, that company’s exploration expenses would be reimbursed by the state and it be given first right of refusal to manage the project if no expertise can be found onshore.
These are extreme measures proposed.
They will meet with plenty of opposition, we are certain, from those who enjoy life under the present regime.
The National sees three weaknesses which must be addressed.
Equitable distribution might be far more difficult under Sir Julius’ proposal until and unless the land tenure system can be addressed meaningfully.
Right now, we might take ownership away from the state but, then, we vest in a group whose membership is expanding all the time with inter-marriages and land boundaries that are uncertain.
The potential for inter-clan and tribal feuds mount exponentially.
Unless the landownership issue can be addressed, attracting the huge financial commitments that is required for resources developments will be next to impossible from within and outside the country.
If that is somehow resolved, government will have a most difficult time trying to perform the equitable distribution trick, by trying to prise loose from landowners something to give to the rest of a province or the rest of the country.
There will be pockets of very rich Papua New Guineans and a lot of very poor ones as well.
And, finally, the provincial government experiment has shown us that not all provincial governments are ready or capable of managing their affairs well.
Thirty-six years on and this is another failed story.
More responsibility is not going to, overnight, translate to efficient and smooth running of provincial governments. The administrative and financial management capacity of each province has to be reviewed thoroughly before any more power should be devolved.
Laut den Grossen Ohren pendeln MRA Delegationen von PNG u. von Boug. permanent zwischen POM u. Buka in Vorbereitung des nächsten JSB Meetings.Diesmal soll es keine Unstimmigkeiten mehr geben.
Peter Taylor hat anlässlich der HV explizit nochmal auf die 7 zusätzlichen BCL Lizenzen verwiesen u. sogar eine Karte davon seinem Bericht beigefügt.Schon vor 2 Jahren gab er bekannt dass BOC darauf sofort ein Explorationsprogramm starten wird, sowie das Mining Moratorium aufgehoben sein wird.
"The vision to return to active exploration and profitable mining
remains and I am pleased to say with increased support from local stakeholders.
And it is worth remembering that BCL has 7 granted tenements adjacent to the
Panguna mining lease which are in good standing and await exploration save for
a National Government imposed moratorium on exploration on Bougainville.
And it is worth remembering that BCL has 7 granted tenements adjacent to the
Panguna mining lease which are in good standing and await exploration.
Our geologists believe this area is highly prospective.
Die Roadmap von Fidelis Semoso sieht vor dass die BCA Review im Nov. abgeschlossen sein sollte.
Da die allermeisten Investierten über die Situation allumfassend informiert sind sollte also in der Zwischenzeit eher Kauf- denn Verkaufsdruck aufkommen. ;-))))))))))))
By PNG correspondent Liam Fox
Posted 26 minutes ago
A once-prominent Australian mining company is optimistic a controversial copper mine in Papua New Guinea could be reopened within five years.
The Panguna mine on the island of Bougainville was the epicentre of a decade-long civil war that left several thousand people dead.
Its Australian owner Bougainville Copper Limited (BCL) suspended operations in 1989.
But many islanders want it reopened to fund their long-held desire of independence from PNG.
At BCL's annual general meeting, chairman Peter Taylor welcomed initial moves by local landowners to renegotiate the mine agreement.
He said the election of John Momis as Bougainville's president last year was a crucial event, as he has publicly supported the mine.
Mr Taylor said it would cost around $3 billion to reopen Panguna and the next step would be a pre-feasibility study.
von Thomas Godt
Mittwoch 20.04.2011, 10:11 Uhr
London (BoerseGo.de) – Bei Kupfer hat sich am Mittwoch so etwas wie Hoffnung festgesetzt. Hoffnung darauf, dass die US-Daten zum Verkauf bestehender Häuser die Analysten-Schätzungen übertreffen. Auch die Daten zu den Neubaubeginnen und den Baugenehmigungen sind bereits besser als erwartet ausgefallen. Das und der schwächere US-Dollar sorgen beim drei-Monats-Kontrakt an der LME für freundliches Gesichter. Der Kontraktpreis steigt um etwas mehr als ein halbes Prozent auf 9.455 US-Dollar je Tonne. „Es kann durchaus sein, dass der Markt durch die US-Häuserdaten noch etwas Auftrieb bekommt, auf jeden Fall sehen wir jetzt erst einmal einen Rebound nach dem Schock durch das drohende Downgrade der USA durch Standard & Poor's“, sagt Thomas Lam, Chef-Volkswirt von OSK-DMG gegenüber Reuters. Die Daten sind für den Kupfermarkt auf jeden Fall von Interesse, denn ein Fünftel einer Tonne Kupfer wird von einem typischen US-Eigenheim benötigt.
Die jüngsten Daten zur chinesischen industrieproduktion deuten auf einen weiterhin hohen Bedarf für stahl und andere metalle. Die automobilproduktion wuchs von Januar bis märz gegenüber dem entsprechenden Vorjahreszeitraum um 10,3 prozent, während die produktion von klimaanlagen, für die viel kupfer benötigt wird, um 48,4 prozent stieg. Die Zahl der hergestellten Waschmaschinen legte um 12,2 prozent, für kühlschränke um 20,9 prozent und für zivile schiffe um 13,6 prozent zu. Bei der stromerzeugung gab es einen anstieg um 13,4 prozent, wobei 32,6 prozent mehr strom auf Wasserkraft gewonnen werden konnte.
Gold hat heute im asiatischen Handel den Widerstand bei 1.495 Dollar/Unze überwunden und generiert damit ein
weiteres Kaufsignal auf 1.520 bis 1.530 Dollar/Unze. Gelingt im weiteren Verlauf auch der Bruch der Zielmarke von
1.520 Dollar/Unze, so könnte sich die Hausse mittelfristig auf 1.580 bis 1.600 Dollar/Unze fortsetzen. Erst ein
Rückgang unter 1.476 Dollar/Unze würde das kurzfristige Bild eintrüben. Parallel dazu befindet sich der Silberpreis
auf dem direkten Weg zu einem technischen Kursziel bei runden 50 Dollar/Unze.