Trading Bougainville Copper (ADRs) 867948

Am Donnerstag sollen die offiziellen Wahlen "for the Chairmanship position of SML" stattfinden.

Die "Grossen Ohren" sind schon Vorort u. er ist zuversichtlich die Wahlen zu gewinnen.

Ganz oben auf der Prioritätenliste steht dann für ende Juni die "Reconciliation between BCL and the Landowners" als Voraussetzung zur BCA Review.

Wie die Zeit vergeht.

Bei Ausbruch der Crisis war PT der Company Secretary von BCL u. LD der  Company Secretary der RMTL/PLA .

... dass die Zuversicht der großen Ohren nicht trügt. :-)  

http://www.heraldsun.com.au/business/companies/...0d54w-1226657261349

IT is an extraordinary situation: 24 years after the world's largest copper mine was closed due to a civil war on Australia's doorstep, the majority Rio Tinto-owned Bougainville Copper Limited still floats on the Australian Stock Exchange.

Former combatants still occupy ground around Bougainville's enormous open-cut Panguna mine site, which has not seen mining activity since 1989, when Papua New Guinean forces attempted to reassert control over its province and the mine, which once contributed 20 per cent of PNG's annual income.

The civil war, which came about in part due to a demand from Bougainville rebels for higher mine royalties, and their anger at natural destruction, resulted in an estimated 10,000 to 15,000 deaths.

PNG death penalty reinstatement condemned
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Since then, Bougainville has rebranded itself the Autonomous Bougainville Government, and is moving towards an independence referendum within five years.

For years, BCL has been accused of providing equipment that assisted PNG forces in attacking the rebels. BCL chairman, Peter Taylor, denies it, and remains optimistic the mine could reopen in five years.

Autonomous Bougainville Island

In this edited interview, Taylor talks about the obstacles to reopening the mine and what it would mean to Australia. He warns that investors may not view Bougainville's likely independence as a positive step for the mine.

Q: It's been more than two decades since the mine was operational. Yet your annual ASX filings are optimistic. Why do you see hope?

TAYLOR: I get the impression that more people in Bougainville are coming onside with reopening the mine, but having said that, there are still some - in the minority - who are opposed to the mine reopening, for a range on reasons. Some are opposed to mining on principle. Some have a family history as a result of what happened when the crisis occurred. But I think more are coming on board with the idea of getting the economy going.

Q: The mine is still in the hands of rebel forces, some of who may be slowly surrendering some of their weapons. Is that your understanding?

TAYLOR: It's all a bit muddy, this concept of rebel forces. The original group under (deceased Bougainville Revolutionary Army leader) Francis Ona has dissipated. Those who are left from the revolution days call themselves Mekamui, a local word, so they've changed from their title. I don't think rebel army is the right term. They're ex - combatants and some are simply disenfranchised. There's nowhere for them to go. I haven't been to the mine site for a long time, I just don't think the time is right for people like me to go there. But a number of Australian diplomats have been there, and contractors can go there. But there's a big difference in someone like me going there, because of the symbolism attached to that. There is a place called Morgan Junction where a group of guys extract a toll to go up the road. But I think they're opportunists trying to extract a buck for going up the road, rather than any political philosophy.

Q: Historically, the largest royalty share from the mine went to the PNG government. It distributed a 1.25 per cent royalty payment to Bougainville (five per cent of that was distributed to land owners, the remainder going to the provincial government). Have you put an offer to Bougainville that is significantly better than that?

TAYLOR: There's been no offers made by either side, and there are more than two sides, actually. You've got the Autonomous Bougainville Government, which didn't exist in the old days, so it's a new entity and people may or may not decide whether they want it to be independent. They are the principle party that deals with the landowners. There are six identified landowner groups, and three others, who aren't on the mine lease but the fringes of it. One of them is supposed to represent the ex - combatants. The Bougainville Government's idea is to get all nine groups to form a single united body that can then negotiate with the Bougainville Government and the national government (which owns 19 per cent of BCL). We really haven't got to the stage where everyone's put their wish - list on the table, but there is jostling. Six of the landowners groups have signed up officially. The people who aren't onside yet are the people around the Panguna area.

Q: Do you in - principle agree with a larger royalty, or larger royalty equivalents through better education and health facilities?

TAYLOR: I do agree that the people of Bougainville should get a larger share of the proceeds than they did in the past. How they take it is a question for them rather than for me. They've got to decide: is the royalty the way to go? Shares in the mine? Royalties upfront? We used to pay it to the national government, which would distribute it to the provincial government. The dispute wasn't about the quantum, but the distribution.

Q: Are you satisfied that allegations that Rio/BCL provided equipment to the PNG forces during the war have been put to rest?

TAYLOR: This is the allegation in a US court case that BCL provided helicopter gunships? It's not true. BCL never owned a helicopter. We chartered them, we never had them. The helicopters that get most attention are ex - Australian military helicopters that were given to PNG on the condition they be used only for humanitarian purposes. My understanding is the PNG government ignored that and put guns on them.

Q: How would Bougainville's independence affect your operations?

TAYLOR: It's an important question for me as a potential investor. When I need to raise the money for this mine, by going to banks and investors, wanting to raise billions of dollars, they're going to say: "Tell me about Bougainville." If Bougainville is the world's newest nation, with no track record of managing projects, as opposed to PNG which has a long track record, it's going to be easier to raise the money if Bougainville doesn't go down the independence route. I wouldn't even go to the market at this stage, because I can't tell the market what they're investing in.

Q: But isn't independence an inevitability?

TAYLOR: I don't know. You'll get Bougainvilleans who'll say, "We spilt blood for independence." There is an element that will say, "We don't want to be part of Papua New Guinea." But if you're an economic rationalist, you might be better off having big brother in Port Moresby bankrolling you. And even if Bougainville votes for independence, the PNG government still has to change its constitution to allow it to happen. And there's a question as whether they'll do it.

Q: You're a mine chairman with no mine. Is your daily work a constant push to restart the mine?

TAYLOR: Absolutely. On a daily basis we're talking to PNG, Bougainville and landowners. There's process to begin ethnographic surveys of the landowners around the mine site so we actually know who our constituents are. That hasn't been done. That's just one project. And we know a lot about the ore body, but it won't be the same technology as before. We'll modernise.

Q: Have you tried to negotiate directly with the intransigent ex - combatant group? What is their bottom line?

TAYLOR: They're not organised. You're dealing with individuals who have particular wants. Some want to be included in the workforce. Some want a school. A hospital. Most of what they want are not things I find unusual. If you take away the title "combatant", it's the sort of stuff you'd expect anybody who's having a major operation like this moved into their area to be asking for.

Q: This long - lasting event so close to our shores was horrific. How did it feel to be part of it?

TAYLOR: I think it took not just the company but the Australian Government by surprise. I don't think anybody saw it coming. I've thought about it many times: "How did it actually happen?" There's no simple answer. A whole lot of things aligned. I don't believe Francis Ona, the leader of the rebel group, wanted to close the mine. He wanted a bigger share. He didn't think landowners were getting a fair cut.

Q: BCL continues to trade at around 50 cents a share when the mine has been closed 24 years. That's unusual, isn't it?

TAYLOR: I think there's more justification for the BCL share price than I do a lot of other speculative companies in the mining sector who haven't even discovered anything. We know what the value of our ore body is, based on current metal prices. The punters are saying, "Well, if we can ever commercialise that, it'll be a good return."

Q: Australia has taken the view since the time of Whitlam that there should be fewer smaller states in our region that could potentially fail. Is that your understanding?

TAYLOR: I've never heard Australia say it that way but I think it's right. There's this division throughout the region, of which first nation looks after which developing nation. If you look at Australia's patch, its got some pretty terrible examples small nations: it has this dilemma with Fiji, it's still pouring money into the Solomon Islands, it's got Bougainville and other micro states which depend almost entirely on Australian and New Zealand aid. And at the political level, all these little states have one vote at the UN, which creates another dynamic: who is going to be the influential power, China or the West?

Q: How do you keep going, day to day, when the project is still so far off?

TAYLOR: This is not a job for someone who wants a result by Friday. In our industry, we take a long - term view. We have projects which can last 50 to 100 years. You don't want to be in a screaming rush, you've to get it right. And there's a pretty salutary lesson to be had from when we didn't get Bougainville right.

Q: BCL is a PNG company, though listed on the ASX for historical reasons. If I was a prospective PM, such as Tony Abbott, why would I care about the success of the reopening of this mine?

TAYLOR: There's not a cash flow to the Australian government. What there is, is PNG being closer to self-sufficiency so Australia doesn't have to keep providing aid. The idea is to make them economically sustainable, rather than keep having to hand out money. That's what's in it for Australia.

paul.toohey@news.com.au

jetzt wissen wir es auch offiziell, wo wir mit unserem a-la-long Panguna-Investment stehen. Peter Taylor formuliert seine Antworten sehr pragmatisch und realistisch, wie ich meine. Und er macht deutlich, das er die Vor-Ort-Situation in allen wichtigen Facetten (strategisch und auch taktisch operativ, lokal- und national-politisch, wirtschaftlich, administrativ, kulturell, sozial, ...) sehr gut einschätzen und beurteilen kann. Und was mich besonders freut, ist seine Offenheit und sein Talent, die Dinge beim Namen zu nennen und auf den Punkt zu bringen. Was mich angeht, die meisten seiner Positionen teile ich.

Die Richtung stimmt! Die News-Lage ist so gut wie nie. Und die ersten relevanten Vor-Ort-Gruppen auf der Insel reden miteinander und schließen politische und wirtschaftliche offizielle und inoffizielle Allianzen, wie es noch vor wenigen Jahren undenkbar war. Die Investment-Perspektiven stimmen ebenfalls weiterhin.

Und die Geschwindigkeit von diesem komplexen Prozess?
Na ja, die Unabhängigkeit ist zum Greifen nah...  und auch schon terminiert. Übernächstes Jahr beginnt der Unabhängigkeitsprozess offiziell. Dieser Termin kommt immer näher und näher. Fehlt also nur das liebe Geld. Die Zeit spielt also für die BCL-Investierten.

Und der aktuelle BCL-Aktienkurs?
hmmm...  so langsam kann man mal seinen Freunden Bescheid sagen, das hier eine Zündschnur von einem großen Fass glimmt. In zwei Jahren wird der Zug wohl schon wo anders sein.  

schon merkwürdig,  oder ?  

Bin ganz anderer Meinung. Die Unabhängigkeit ist alles andere als zum greifen nah. Man muss nur auf den Börsenkurs schauen. Der würde anders aussehen wenn auch nur ein Hauch von Optimismus existierte. Im Gegenteil: Seit mehr als zwei Jahren ist der Kurs rückläufig und hat sich inzwischen gedrittelt. Das ist nicht lustig!!!
Mit wem soll BCL verhandeln? Mit den Rebellen etwa? Mit der "autonomen" Regierung von Bougainville? Wer soll das bitte sein? Und welche "Power" hat die?
Welcher Investor der noch alle an der Klatsche hätte würde dort investieren???
Am immer weiter fallenden Börsenkurs sehen wir, das Panguna ein heißes Eisen ist, an das sich niemand ran wagt.
Die Verhandlungen werden noch Jahre so weiter gehen, ohne das es zu konkreten Ergebnissen kommt, denn ausser BCL ist niemand autorisiert und in der Lage Verträge zu schließen die irgend eine Bedeutung hätten.
Solange PNG Vertragspartner ist gelten die alten Abmachungen. Das AGB ist bis heute weder autorisiert, noch in der Lage Verträge zu erneuern. Das ist der Grund für den Stillstand. Und solange sich auf dieser Ebene nichts tut, solange braucht RT sich keine Gedanken um ein Investment auf dieser Insel zu machen.
Die Verlierer heißen:
Alle Aktionäre von BCL;
Alle Bewohner von Bougainville, der Insel;
Auch die Reste der BRA, heute Mekamui gehören nicht zu den Gewinnern. Sie blockieren bis heute jegliche Entwicklung zum Nachteil aller.
Wahrscheinlich wird das Problem am Ende wie so oft durch Korruption "gelöst", der menschliche Faktor eben.  

Peru mine slated to produce a minimum of 400,000 tonnes a year

* Glencore and Xstrata jointly account for c.7pct of global copper supply




* Glencore has other options if it fails to sell Peru mine by Aug. 2014

By Denny Thomas

HONG KONG, June 4 (Reuters) - Beijing's demand that Glencore Xstrata Plc sell a copper mine in Peru may bring rich dividends for China Inc., as two companies linked to Chinese state-backed groups are weighing rival bids for the $5 billion-plus project.

Interest from Chinese state companies in Glencore's Peruvian mine is a rare case of an asset sale forced by a government as a condition of merger approval working in favour of its own national champions, and underscores China's new-found clout in regulating global takeovers.

Chinalco Mining Corp International and Hong Kong-listed MMG Ltd, both linked to a Chinese state-owned enterprises, are considering offers for Glencore Xstrata's Las Bambas mine, according to people close to the matter, less than three months after Beijing blessed Glencore's $35 billion purchase of Xstrata.

Under the deal struck with Beijing's Ministry of Commerce in April, Glencore has three months to begin the process of selling Las Bambas, one of the group's biggest development projects, with the expectation of finding a buyer by the end of August 2014.

If the company does not get a binding sale and purchase agreement by the deadline, and have a transfer of ownership by the end of June 2015, Glencore has the option to sell other project sites.

People familiar with the matter say that Glencore intends to explore a sale and has hired BMO Capital Markets and Credit Suisse to advise on the process. No deadlines for the auction have been set, the people said.

Chinalco Mining Corp International, a unit of China's state-run aluminium group, and MMG Ltd, controlled by China's Minmetals, are in talks with banks to advise them on bids for Las Bambas, which is slated to produce a minimum of 400,000 tonnes a year.

"I'm not sure they're trying to create opportunities," said an Asia investment banker not directly involved with the deal, referring to the Chinese government. "But is it coincidental? Probably not entirely."

The Glencore-Xstrata deal closed after Glencore agreed in April to sell the Peruvian mine.

MMG is controlled by state-owned China Minmetals Corp and headquartered in Melbourne, with an Australian CEO, Andrew Michelmore. It owns copper, lead and zinc mines in Australia, Laos and Democratic Republic of Congo, and has repeatedly said it is looking for acquisitions of between $1 billion and $7 billion to help it meet a five-year target to grow into a mid-sized, global diversified miner.

An MMG spokeswoman declined to comment.

FINANCING

Chinalco Mining Corp, which raised $400 million through a Hong Kong IPO in February, is developing a copper-molybdenum-silver mine in central Peru. The company has a market value of just $1.5 billion and it would need funding from its parent or other institutions to finance any bid.

"Chinalco Mining International follows closely valuable M&A opportunities in the market," the company said in a statement. "However, at this stage, we have not made any decisions regarding the potential bidding process."

People familiar with the matter say Chinalco Mining and MMG are in talks with investment banks to pursue a bid, and that they are not the only companies interested. The two companies are yet to appoint any investment banks to advise on the deal, the sources said.

"The impression in the market is that China would love for this to end up in Chinese hands," said one person familiar with the process. "That would likely be an overhang on any process. No one wants to go in and spend the time and money to be a stalking horse for a Chinese bidder," the person said.

MMG shares fell 2.3 percent on Tuesday, while Chinalco Mining lost 0.8 percent. The benchmark Hong Kong share index was flat. Glencore shares were up 1 percent in London.

Sources declined to be identified as the sale process is confidential. A Glencore spokesman declined to comment.

At the time of the Glencore-Xstrata deal, Chinese authorities were focused on Glencore's influence over the copper market. The forced divestment reflects China's appetite for metal and the political side of the regulator's mission, as much as Glencore's own weight.

Combined, Glencore and Xstrata account for roughly 7 percent of global copper supply, and analysts and traders have estimated that Glencore controls between 10 and 14 percent of Chinese copper concentrate imports.

Xstrata approved development of Las Bambas over a four-year period in August 2010, four months before Glencore first unveiled merger plans with Xstrata. Demand for copper has since waned, with the metal's price down about 8 percent this year.  

- "Na ja, die Unabhängigkeit ist zum Greifen nah...  und auch schon  terminiert. Übernächstes Jahr beginnt der Unabhängigkeitsprozess  offiziell. Dieser Termin kommt immer näher und näher."

Deinen Optimismus @Longwilli kann ich nicht teilen. Schon gar nicht, wenn ich mir Taylors Worte bei Licht besehe.

Ich würde eher sagen: Die Unabhängigkeit wurde zwar irgendwann vorläufig terminiert. Übernächstes Jahr sollte der Unabhängigkeitsprozess eigentlich beginnen. Das übernächste Jahr kommt zwar immer näher und näher, die Unabhängigkeit steht aber, realistisch betrachtet, in den Sternen ... und man muss schon seeeehr lange Arme haben, um sie als "zum Greifen nah" zu empfinden.

 

Q: How would Bougainville's independence affect your operations?

TAYLOR: It's an important question for me as a potential investor. When I need  to raise the money for this mine, by going to banks and investors,  wanting to raise billions of dollars, they're going to say: "Tell me  about Bougainville." If Bougainville is the world's newest nation, with  no track record of managing projects, as opposed to PNG which has a long  track record, it's going to be easier to raise the money if  Bougainville doesn't go down the independence route. I wouldn't even go  to the market at this stage, because I can't tell the market what  they're investing in.

Q: But isn't independence an inevitability?

TAYLOR: I don't know. You'll get Bougainvilleans who'll say, "We spilt blood  for independence." There is an element that will say, "We don't want to  be part of Papua New Guinea." But if you're an economic rationalist, you  might be better off having big brother in Port Moresby bankrolling you.  And even if Bougainville votes for independence, the PNG government  still has to change its constitution to allow it to happen. And there's a  question as whether they'll do it.

Überzeugend klingt anders - jedenfalls in meinen Ohren ...

 

Übrigens: Jahrzehntelanges Warten bei großen, nur schwer konsensfähigen Projekten ist nicht eine Besonderheit Bougainvilles. Wie lange soll es eigentlich dauern, bis in D nach der jüngst getroffenen Einigung auf eine neue Endlagersuche für deutschen Atommüll mit einer Entscheidung zu rechnen ist??? Meines Wissens sind da die kommenden 30er Jahre im Gespräch ... gewesen - und selbst der Termin wird inzwischen wieder in Frage gestellt.

Also ... gemach, gemach, was die Erwartungen an B'villes Unabhängigkeit angeht ...

 

find ich sehr gut ausgedrückt - so sollte sich die Situation bzw. das ganze Invest für uns darstellen. Die Börse hat immer Recht - die Kurse sagen - gedrittelte Chancen, am Besten aussteigen bevor alles weg ist.

Meine Meinung ist eine andere: Ich finde die Situation, so wie sie sich uns darstellt ist eine Illusion. Wir haben hier Mitspieler, die in der Lage sind, diese unantastbare Wahrheit des nie irrenden Börsenkurses, nach Belieben* steuern zu können. Diese Mitspieler wissen: Gelingt es den Kurs zu steuern, gelingt es auch die Meinung zu steuern. Und so wie man hier mitlesen kann, klappt das selbst hier im gut informiertem Kreis auch ganz gut.

Stellt sich noch die Frage warum machen die Mitspieler das? Ja, natürlich Gewinnmaximierung - die Grundlage jedes Wirtschaftens. Hier gibt es meiner Meinung nach 2 Möglichkeiten, die laufen könnten.
1. Sicherung eines möglichst großen Anteils am Kuchen - sprich so viele Aktien wie möglich einsammeln.
2.Verminderung eines möglichen, erheblichen Verlustes, der als "Altlast" aus der Anlagestrategie einer früheren Epoche im Raum steht. Medizin hiergegen: So viele Aktien wie möglich einsammeln und sonstige Abflüsse stoppen bzw. minimieren.

1 + 2 dürften schlechter realisierbar sein, wenn die Kurse steigen. Und wenns dann mal losgeht, dann werden von einem Start bei niedrigem Niveau auch noch jede Menge Stücke abfallen von Teilnehmern, die bei Erreichen ihres Einstandkurses oder mit kleinen Gewinnen, dankend verkaufen und dann froh sein werden, dass sie aus dieser nervenzerreissenden Anlage heil raus gekommen sind....  

* @ die die gemeint sind: Verzeiht bitte, dass ich das hier so darstelle, als wäre das eine leichte Aufgabe - Ihr habt sicher auch Eure Schwierigkeiten das so hinzubekommen;o) aber der Hauptpreis in diesem Spiel ist den Einsatz und das Risiko allemal wert.

vG Tom  

- "Stellt sich noch die Frage warum machen die Mitspieler das?"

Meine kurze Antwort würde lauten: Weil sie (so es sie gibt und wer immer sie sein mögen) es können. Weil es niemanden gibt, der ihnen Paroli bietet. Weil es niemanden gibt, der nennenswert antizyklisch einkaufen will, weil der Zyklus des Stillstandes einfach kein Ende finden will und weil in keiner Weise abzusehen ist, ob und wann er irgendwann einmal ein Ende findet. Höchst ökonomisches Zeitmanagement eben! Und bestätigt werden sie (die vermeintlichen, nicht aktiven Kaufinteressenten, der Markt eben, der insofern doch wieder recht bekommt mit seinem nicht irrenden Börsenkurs) durch Taylors deutliche Worte - gibt es hier eigentlich jemanden, der sie ignorieren oder gar einfach vom Tisch fegen wollte?

If you're an economic rationalist you  might be better off having big brother in Port Moresby  bankrolling you.  And even if Bougainville votes for independence, the  PNG government  still has to change its constitution to allow it to  happen. And there's a  question as whether they'll do it.

Sorry @Tom - ich habe, jedenfalls in Börsenangelegenheiten, seit langem meine rosarote Brille verlegt und finde sie einfach nicht wieder - die vor uns liegende Zeitleiste kann ich ohnehin besser durch Klarglas erkennen ...

Nix für ungut, schöne Nacht + gute Restwoche!

 

PS: Ach ja, ohne alte Wunden aufreißen zu wollen und - zugegebenermaßen - ohne eine exakte Defintion von "the next months" parat zu haben: Do we believe that really???

"We believe that the BCL share price will  see an impressive turn-around during the next months that will soar the  share price to AUD 3 or more!" - 01.01.2013

Es gibt halt viele Väter der Gedanken - einer ist sicherlich nach wie vor der Wunsch ...

 

 

 

Axel hat aber auch keine Glaskugel und konnte nicht wissen,
dass der Preis so stark gedrückt wird.
Unter normalen Umständen wär man sicherlich bei 3 AUD.
Nicht so toll fand ich seine Ankündigung 1 Million Stück zu zukaufen, und das schlussendlich nicht umgehend durchzusetzen, was schon kursrelevant gewesen wäre.
Ich bin auf die nächste Aktionärsstruktur gespannt und hoffe, dass sich die Zahl beim nominee citicorp weiter verringert hat, nachdem immer mehr ihre Aktien eintragen lassen.
Egal ob es schnell oder langsam auf Bougainville voran geht, wenn mehr Leute kaufen und teilweise oder komplett ihre Aktien eintragen lassen würden, so müsste der automatisch steigen, Manipulation hin und her.
Viel Erfolg und gutes Durchhalten für uns alle!  

...........with $1.55bn in local mine deals

http://ramumine.wordpress.com/2013/06/05/...australian-mining-sector/

Barry Fitzgerald | The Australian

CHINA is backing up its status as the world"s biggest consumer of metals by becoming the lead financier to new Australian mines, with more than $US1.5 billion ($1.55bn) now being committed to projects Beijing wants to see developed to ensure a diverse and long-term supply of metals vital to that nation"s ongoing industrialisation and urbanisation.

While traditional financiers for Australian projects in Europe and the US have retreated from the sector, and equity markets have been closed off as a source of ready funding, China"s network of state-controlled development banks, mining companies and engineering and construction groups are taking up the slack.

ASX-listed Rex Minerals yesterday became the latest beneficiary, with the group signing a financing and engineering/construction memo of understanding under which Chinese interests will facilitate $US550 million in debt funding for the likely $US800m cost of developing its Hillside copper project on South Australia"s Yorke Peninsula.

This comes as Melbourne-based and Chinese-controlled MMG works towards finalising, by month"s end, a proposal from state-controlled China Development Bank Corp to arrange and underwrite $US1bn in financing for the $US1.5bn development of MMG"s Dugald River zinc mine in Queensland.

Rex shares shot up 13.5c, or 54 per cent, to 38.5c on news of the China agreement. But the stock remains well short of the 94c a share it commanded in November last year before concerns became entrenched about how it would finance the Hillside development in the face of deteriorating equity and commodities.

That it has been able to secure the support of Chinese interests has come as no surprise to Rex chief executive Mark Parry. He said that while there was a lot of money in the major capital markets looking to be invested, it was a trait of western world markets that "people tend to be very short-term-driven, and that any adverse news forces a sell mentality".

"But the market in China tends to be more long-term thinking. It is looking to secure offtake of critical commodities, so you get a far better hearing there," Mr Parry said.

"Hillside is like an option in the ground, one capable of generating 600 jobs in construction and in operation, plus tens of millions, if not hundreds of millions of dollars in taxes and royalties. That option can only be realised if somebody underwrites it or finances it. And at the moment, the people most likely to do that are the Chinese."

Mr Parry said that non-Chinese interest in copper — particularly in the right sort of political environment, like Hillside — was still strong, and that Rex would seek to tap that interest to provide the balance of funding for the Hillside development. Mr Parry said the China deal gave Rex greater certainty about the timing and quantum of debt funding.

The (non-binding) memorandum signed by Rex has China Nonferrous Metal Industry"s Foreign Engineering and Construction Co (NFC) taking the lead role on facilitating the $US550m in debt financing with Chinese banks. The key driver for it in the deal is the sale of mining equipment to the project. Perth-based mining engineering and construction group Arccon is the subcontractor to NFC.

Baillieu Holst told clients the memo was a start towards solving the funding puzzle for Hillside.

The signing of the engineering procurement and construction contract and financing term sheets is expected in September. Rex tips a start to construction in the first half of next year.

...die Möglichkeit von zukünftigen Kapitalmaßnahmen nicht außer Acht lassen. Die Vergangenheit hat bereits oft gezeigt, dass in Kauf genommen wird,  Aktionäre zu rasieren.

Hier ist noch Vieles offen...  

http://www.rnzi.com/pages/news.php?op=read&id=76547

Posted at 06:06 on 05 June, 2013 UTC

The police in the autonomous Papua New Guinea province of Bougainville are still to decide whether 17 Chinese workers found stripping scrap metal at the abandoned Panguna mine workshops will be charged.

The central Bougainville police commander, Inspector Herman Birengka, says the Chinese were brought in by one group of landowners who had formed a company to take the remaining scrap from the mine site.

He says other landowners have complained about the Chinese workers’ presence, while police are concerned that they do not have the required permission from the Bougainville or national governments to be there.

   “There was no proper authorisation, approval given for these people to come into Bougainville, especially in Panguna, where it is a view by people here that it is a sensitive area, for these Chinese nationals to come and work there. And it is a very big concern for people here to have the police get them out of Bougainville before things go out of hand.”

Inspector Herman Birengka says in the meantime the Chinese have been allowed to return to the mine site.

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Ich glaube nicht an eine Verschwörung zur Kursdrückerei. Der gesamte Rohstoff-und Explorersektor ist massiv unter die Räder gekommen. Wer BOC kennt ist bereits investiert, die Käufer fallen also weg. Es würde mich auch nicht wundern wenn sich bei der hier jahrelang zu lesenden Euphorie einige stark übernommen haben und nun völlig mürbe und entnervt aufgeben oder gar zwangsliquidiert werden.  

Quote: "Wer BOC kennt ist bereits investiert, die Käufer fallen also weg."

Speak for yourself! ;-)))

Also, ich und einige andere mir bekannte Personen stocken zu den aktuellen Preisen seit einiger Zeit weiter in kleinen Ordergrößen weiter auf.

Ich habe lange Zeit auch nicht an Kursdrückerei geglaubt, bin aber von der Existenz eben dieser heute absolut überzeugt.

Aber jeder wie er meint.... :-)  

Zu 1+2 wäre zu sagen:
Jeder Investor braucht ein klares Konzept seines MoneyManagements. Danach gibt es für jede Position eine maximale Größe. Ist die erreicht dann ist Schluß mit kaufen, sonst bekommt der Wert eine Übergewicht im Depot. Unterschiedliche Risiken können unterschiedliche Depotgrößen haben, wobei hohes Risiko zu kleiner Position passt und umgekehrt. Wer es anders handhabt kann Glück haben wie ein Lottogewinner, aber je öfter er solchermaßen handelt um so sicherer ist sein Totalverlust.
Ich schreibe diese Binse weil die allfälligen Aufforderungen zu kaufen - ohne das sich fundamental etwas tut - keine Auswirkung auf den Kurs haben.  

2 hochkarätige Visiten australischer Regierungsvertreter in Panguna sowie die AU u.WB. Teilnahme am letzten JSB Meeting bezeugen das Interesse der grossen Player an einer einvernehmlichen Lösung die nur in der Wiedereröffnung der Pangunamine gipfeln kann.

Neben den politischen dürften für AU vor allem auch finanzielle Erwägungen eine Rolle spielen da steigende PNG Einnahmen den Finanzierungsbedarf durch AU reduzieren.

Dass man sich im Moment noch nicht positiv zu den Independancewünschen eines Grossteils der B`viller Bevölkerung äussert ist nur logisch,schliesslich würde damit ein Präzedenzfall geschaffen sowie PNG vor den Kopf gestossen.

Mit der Wahl eines Chairmans der Landeigner, der Verabschiedung der Mining Policy durch das ABG, die Reconciliation zwischen BCL u. Lo`s und eines PNG/ABG JSB Meetings ist die Sommeragenda gut gefüllt.

Ob der Durchbruch zur BCA Review geschafft wird werden wir sehen.Klappt es so wird das ganz von selbst für neue Käuferschichten sorgen.

Kann denn überhaupt ein Chairman der Landeigner rechtsgültig gewählt werden, wenn noch nicht einmal alle LOs eingetragen sind (m.W. sind noch 2 offen) ??? Die Wahl sollte ja auf den morgigen Tag terminiert sein.... ich lass mich überraschen ....  

........... "There are six identified landowner groups, and three others, who aren't on the mine lease but the fringes of it. One of them is supposed to represent the ex - combatants. The Bougainville Government's idea is to get all nine groups to form a single united body that can then negotiate with the Bougainville Government and the national government (which owns 19 per cent of BCL). We really haven't got to the stage where everyone's put their wish - list on the table, but there is jostling. Six of the landowners groups have signed up officially. The people who aren't onside yet are the people around the Panguna area."

Panguna Chinese told to leave

By ROMULUS MASIU

BOUGAINVILLE Police have instructed the ‘Panguna Chinese’ to leave the island as soon as possible.
This is because their safety is not guaranteed as frustration is brewing from locals especially ex-combatants in Arawa and elsewhere.
“The Chinese must leave Arawa and Bougainville as soon as possible,” Arawa Police Station Commander Inspector Herman Birengka warned yesterday adding that their safety and lives are of paramount importance at the moment.
Inspector Birengka wanted their local partners to immediately see him as police is now preparing to execute their plan to get rid of all foreigners in the controversial mining site.
Inspector Birengka said they (foreigners) have violated the Bougainville Peace Agreement by just coming into the region without the knowledge of legitimate authority on the ground which is no other than the Autonomous Bougainville Government (ABG) and its police service. Even ABG’s Division of Business, Commerce Trade & Industry which regulates and control the foreigners’ business interest in the region does not know of the foreigners’ influx into Panguna. Even the Labour Department is not aware of the foreigners’ trip to Bougainville.
The no non-sense police boss has already briefed ABG President Chief Dr John Momis on the issue and current situation on the ground.
The police went through the project profile of the Chinese company Zhenyu Wang & Associates and found out that there were many loopholes in between, with some incomplete agreement and warned locals to be very careful in such deals with foreigners.
“We just want to help the locals to be very careful when dealing with such foreigners and on the same note police want to help out the foreigners by getting them out of Panguna Mine and Bougainville as much as possible.”
After thorough investigations by the police last week, they’ve found out the foreigners’ influx into Bougainville is because of arrangements with local organizations without proper processes through ABG.
“For their own good, and their safety, their lives, they must return to where they came from immediately.”
Central Bougainville veterans member Ishmael Toroama said every decision is in the hands of the police to get rid of all the foreigners’ currently in Central Bougainville, not only the Chinese. All foreigners based up in Panguna and Arawa must pack up and go home.
Police warned if Chinese or any foreigners operating in Panguna and Central Bougainville don’t want to heed orders from police will be charged and locked up.

[Go to the top]  Copyright©2012, Post-C  

Elections for a Chairman and Treasurer for SML (Speacial Mining Lease) is underway up at Dapera, Panguna.


Lee Imarco Jeffrey Clason, Lawrence Daveona, Raphael Evinu, Dr.Cyril Imako, Nick Nokke and Praxedes Teori for CHAIRMAN

Anthony Tapakau, Francis Nasinui, Angela Kabarui and Benedine Gemel Kama for TREASURER

?  

http://www.postcourier.com.pg/20130606/thhome.htm

By ROMULUS MASIU

BOUGAINVILLE police have found three out of the total 17 Chinese in Panguna don’t have work permits.
Yesterday Arawa police went through their passports and found that there are 17 Chinese Nationals instead of the 16. While all their passports, work permits and visas are in place, only three of them — who turned out to be the interpreters — have no work permit. Instead, they came armed with business visas.
Arawa Police Station Commander Inspector Herman Birengka yesterday confirmed their passports, work permits and visas were thoroughly checked and screened and all were up to date. However, only the three interpreters are likely to be further questioned and charged by police.
Inspector Birengka and his team went to Panguna yesterday and observed that the 17 Chinese were camped in the mine pit workshop, which is not fit for humans.
The police also observed the Chinese and Americans up in the Panguna Mine area are invited by the local landowner groups.
Police obtained a copy of the Contract Agreement which was signed between a local landowner company called Taviranga-A Management Limited and a Chinese multi-million entity named Zhenyu Wang & Associates which is in China. The 4 page Contract Agreement titled ‘Scrap Steel Sales Contract’ was made and entered into as of December10, 2011 by the two parties. In the Contract Agreement Taviranga-A is an organization for the development of the Panguna community and is responsible for the scrap steel on all of the communal areas in Panguna, including shopping and sports areas.
Furthermore, Taviranga-A has the authority from the Panguna Community to sell on behalf of all of the people in Panguna areas where there are multiple landowners and beneficiaries of the recovered value of the scrap sale. The local company has a distribution plan that includes and benefits all of the people of Panguna community. The term of the contract is for one year unless extended by either party.
ABG President Chief Dr John Momis who was not aware of the Chinese arrival commended Inspector Herman Birengka and his team for taking a tough stand dealing with any foreigners coming into the region. He said if the Chinese are found to be breaching Immigration or Labour law, they must be deported out of the region at once.

....mmh wenn ich mich richtig erinnere ist LD zuletzt in 2012 in Zusammenhang mit Kontakten (Strippenzieher ;-))) zu Morumbi erwähnt worden.