Trading Bougainville Copper (ADRs) 867948

Wer will denen den 4 Mrd. zahlen, ich meine aber rauszuhören das das die Investitionen beinhaltet und keine Barzahlung darstellt. Frage mich sowieso ob überhaupt jemand in der aktuellen Situation bereit ist 4 Mrd. zu investieren,für alle anderen ausser BCL ist die Investition ja noch bedeutend höher,auf Grund fehlender Explorationsdaten. Aktuell ist Bewegung drin, das ist gut, man hat sich offiziell für BCL entschieden, BCL braucht aber Rechtssicherheit,wie auch immer die in PNG aussieht.
Wenn die noch 1 Jahr warten wird wahrscheinlich nicht mal mehr BCL/RT investieren.
Und die Chinesen haben dann ganz andere Probleme.  

Der Kursrückgang der letzten 18 Monate bis auf 0,6-0,7 AUD war imho rational auf den gesunkenen Goldpreis und das stocken der Verhandlungen zuzurückzuführen.

Soweit so gut. Aber welches Asset hat BOC denn aktuell - nix bis auf ein Cash- bzw. Aktienkonto. Die Verlängerung der Minenlizenz wurde von PNG bisher nicht vorgenommen - also ist BOC ein Aktienmantel mit Cash, einzigartigen Explorerdaten von Panguna und einer einzigartigen historischen Verpflechtung vor Ort.

Gerad die letzten beiden "immateriellen" Assets versetzten BOC in eine gute Lage für die Verhandlungen. Defakto gibt es aber aktuell keine Minenlizenz bzw. es droht sogar die Übertragung an die Landowner.

Besser als hier wird es nicht auf den Punkt gebracht: "Daveona has told Business Advantage PNG that the landowners’ would be seeking to obtain the licence for the mine area itself, believing Rio Tinto subsidiary Bougainville Copper Limited’s rights to the mine have expired."

Das wird durch die Kapitalmärkte einfach seit 6-8 Monaten nachvollzogen - es gibt keinen Kursdrücker. Die Bewertung wird einfach den aktuell realen Assets angeglichen!!!"

Wenn die Lizenz tatsächlich direkt an die Landowner gehen würde, hätte BOC keinerlei Garantie, dass sie der künftige Vertragspartner wären. Damit ist die aktuelle Assetsituatio deutlich schlechter als vor 24 Monaten...  

wie passt das denn dann mit der Aussage zusammen das sie nur mit BCL die Mine wiedereröffnen wollen,und wo soll dann die Kompensation herkommen.
Die einzige Erklärung ist für mich das sie von PNG unabhängig sein wollen,vergessen aber ihr ABG und Momis,alles nur Geschwaffel  

"Taylor said prime minister Peter O’Neill had confirmed in parliament that BCL had, by right of the Bougainville Copper Agreement (BCA), permits to operate at Panguna for a further 21 years from 2011."  

Aus meiner Sicht sehe ich das so. Die Landowners meinen , sie wären die neuen Minenbesitzer und sind daher im Goldrausch. Fakt ist, dass kein potenter Miningkonzern die Mine übernehmen könnte, da BCL nach geschriebenen internationalem  Recht die Lizenzen verlängert bekommen hat. Das ganze wird sich in den nächsten Monaten klären, wenn die LO`s wieder auf dem Boden der Vernunft angekommen sind. BCL hat hier keine Konkurrenz von ausländischen Gesellschaften. ( Die haben auch eine Rechtsabteilung) Natürlich wird der Kurs gedrückt. Das sieht man doch seit einem Jahr, wenn man die Umsätze verfolgt. Ich vermute hinter der Kursdrückerei RIO/BCL , da ja noch 19 Mio. shares übertragen werden , bei Unabhängigkeit .  

kleine Korrektur...

Anteil 19% = 76,430,809 shares, zu übertragen...  

.......wird von einigen missverstanden.Betrachten sollte man die Forderung dieses Gesamtbetrags (10 Billion PNGK) im Kontext mit der geplanten Restlaufzeit der Mine (21 Jahre)

http://www.buysellsignals.net/bcllandowners/Newsletter.do

As per the old BCA, Landowners received an average of K340,000 per annum in the period 1972 to 1989. As per the New Deal Landowners will receive a whopping K576 Million per annum, an increase of 1694 times. The ABG will receive benefits of K848 million per annum compared with K6.37 million per annum between 1972-89, a rise of 133 times on a higher base.

Ist der "New Deal" in Form der BCA Review erst ausgehandelt, so spielt es für BCL keine Rolle mehr ob die Ressourcen PNG, dem ABG oder den Landowners gehören.

alles ist getan um die Mine zu eröffnen und keiner braucht Kupfer,Gold und Silber :-(((  

Gold und silber werden die nächsten 1-2 Jahre wieder richtig steigen.
Warum schreibe ich in den nächsten Tagen.  

K 576 million sind ca. US-$ 244 Mio d.h. bei einer Minen-Laufzeit von 21 Jahren wären dass dann U$ 5,12 Mrd für die Landowner ( d.h. Kompensation von US-$ 4 Mrd. wäre abgedeckt, sofern Daveona diese nicht noch On-Top möchte....)  

....im 707

Auch lesenswert

http://goldseiten.de/artikel/...oldaktien-fuer-Querdenker-Teil-2.html

 

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New post on Papua New Guinea Mine Watch


Panguna: Pariu optimistic
by ramunickel
Aloysius Laukai | New Dawn



An executive member of the Panguna landowners Association, Chief Michael Pariu says that the issue of reopening the Panguna Copper and Gold mine depends on the people of Bougainville and not the landowners alone.

He told New Dawn FM in Arawa this morning that Panguna was critical to the survival of the region however the people must decide the future and the regional forums were one sure way of getting the information from all sectors of the communities.

He said that although discussions are being made on the issue it will take time for the mine to start up.

Mr. Pariu said they are open to any new company who may have interest but want to talk to BCL first as the first company because they have outstanding issues with the people of Bougainville.

Mr. Pariu is attending the Regional Forum on Panguna Negotiations for the Wakunai,Kieta and Panguna districts. 

The forum which started today will end on Tuesday afternoon.

ramunickel | June 24, 2013 at 1:41 pm | Tags: Bougainville, Landholders, Panguna, Papua New Guinea, Rio Tinto | Categories: Papua New Guinea | URL: http://wp.me/pMvf7-2oW
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http://www.postcourier.com.pg/20130624/mohome.htm

By WINTERFORD TOREAS

THE mountainous area of Aita in the Wakunai District of Central Bougainville is renowned as an area where the cultivation of marijuana is ripe. Most of the drug sold throughout Bougainville comes from here.
Youths, from mountainous villages like Asitai, in the upper Aita area, have revealed that they have resorted to the growing and selling of marijuana because they claim to have been neglected by the government for a very long time.
While revealing their plight to the Post-Courier last weekend, Asitai villager, Clement Kaipas said the government has failed to fund developmental projects in the area leaving youths with no other way to make money except by engaging in this illegal business activity.
“The only project that was given to us is a Lukas Sawmill given by Sam Akoitai in 1998 during his term as the Central Bougainville MP. After that we have never received anything.
“Though we had written many submissions to our current MP Jimmy Miringtoro for projects to bring development into our area, we have never been given anything, never and never. This is his sixth year as our MP but we are still waiting,” Mr Kaipas said.
“The main need for us now is the construction of a road linking us with the main highway. At the moment we have to walk more than eight hours from our village before arriving at the main road. Any building material or store goods that we bought from either Buka or Arawa have to be carried from the main road all the way up to our village.
“Even though we are planting garden foods like taro, sweet potato, peanut, round cabbages and other vegetables, many people have given up carrying the produce to the main road to catch a PMV to the nearest market, either in Buka or Arawa to sell these product.
“Because of the long distance we have to walk, we never carry much food resulting in us only earning about K20 from the sale of garden produce. As a result our people, especially the youths, have decided to cultivate marijuana because they see that it is easy to carry while at the same time they will earn more money than those selling round cabbage, peanut and sweet potatoes and other garden food,” added Mr Kaipas.
Kaipas said Mr Miringtoro had promised them during the campaign period last year that he will be funding the construction of the road to their village as a matter of priority.
However, the upper Aita people are keeping their fingers crossed and waiting for funding to be given to construct the road.
Kaipas’ call was backed by another community leader from the Asitai area.
Chief Daniel Irario said if a proper road network is constructed, vehicles will be able to drive all the way to their village and transport all their produce back to the market.
Chief Irario added that this will then distract the youths from cultivating marijuana as their mothers and wives will now be able to transport their garden produce to market easily.
But if no assistance is given, Mr Miringtoro will again be like other previous leaders who made empty promises of helping the upper Aita people.  

Laut der Market Rule 19.1.7 der ASX ist es Unternehmen nicht gestattet, Short Selling zu betreiben, wenn die Marktkapitalisierung unter 100 Mio AUD fällt.

Was ist eigentlich mit den ADR´s passiert, nachdem das Programm eingestellt wurde? Wurden diese ion Originale getauscht, bekamen die Besitzer Barabfindungen? Wer von euch hatte denn zum Schluss noch ADR´s in seinem Depot? Hatten die Inhaber ein Wahlrecht?  

Montag, 24. Juni 2013 07:15

Goldminenbetreiber berichten, dass sie wegen des Wertverlustes von Gold und Silber gezwungen wären, Kapital zu beschaffen oder die Fördertätigkeiten einzustellen.

Das auf Afrika fokussierte Unternehmen Avocet Mining teilte am Montag mit, dass es 15 Millionen Dollar beschaffen müsse, um ein Darlehen an die Hauptaktionäre zurückzuzahlen. Dies, nachdem die Minen wegen des Preisrückgangs nicht mehr in der Lage seien, die erforderliche Summe zu generieren.

Der in Südafrika ansässige Goldproduzent Harmony Gold verkündete, dass er von der Abschreibung auf seine Hidden Valley-Mine in Papua-Neuguinea ausgehe. Er wolle die Investoren Ende Juli über die Höhe der Wertminderung informieren.

Grösster Einbruch in drei Jahrzehnten

In Australien stellten zwei Goldminen den Betrieb ein, nachdem ihre jeweiligen Eigentümer, Tanami Gold und Focus Minerals, bekanntgaben, dass die Produktion zu den momentanen Goldpreisen nicht mehr profitabel sei.

Der starke Preissturz im vergangenen April gilt als der grösste Einbruch des Edelmetallpreises in den vergangenen drei Jahrzehnten. Er hatte zur Folge, dass 15 Prozent der weltweiten Minen heute nicht mehr gewinnbringend sind, der Goldhändler- und -verwahrer BullionVault berichtet.  

..............as their responsible government will equally distribute benefits from any development like Mining if Panguna is re-opened to all its people in the future.

http://bougainville.typepad.com/newdawn/2013/06/...atolls-for-sh.html

Arawa Forum "successful"
by ramunickel
Aloysius Laukai | New Dawn



The 4th Regional Forum on Panguna Negotiations ended last night with every stakeholders putting their views on the future of the Panguna Copper mine. 

Despite the different views from all sectors of the community, the overall result of the forum was successful.

The fourth Regional Forum on Panguna negotiations in Arawa was for the Kieta and Wakunai districts and all participated fully at the forum.

The forum has for the first time in the short history of Bougainville created the environment conducive for real constructive discussions by all stakeholders.

The ABG President John Momis attended full time the two days forum in Arawa officially opening the forum on Monday morning and also officially closing the forum late last night. 

According to the President the forum achieved its aim that is to make sure all stake holders present their views on the future of Panguna and Bougainville.

He noted comments made by the President of Mekamui Unity Government on where his people will be located if the government is very strong on reopening the mine. 

ABG President commented that the ABG must find ways now to accommodate the Mekamui and the Tonu group through its COE system of government. 

He said that empowering the people is the way forward for Bougainville and he does not want to see one group forced out of the way. 

The ABG President thanked the people of Central Bougainville for participating at this very important forum.

ramunickel | June 26, 2013 at 9:55 am |  

Bougainville Cross road.
26 jun. 2013 01:13
By Aloysius Laukai
The ABG New Dawn.
The ABG President DR. JOHN MOMIS says that Bougainville is at the crossroad and what happens from here will depend entirely on the will for the region to raise its own funds.
He was speaking at the Opening of the 4th Regional Forum on Panguna Negotiations in Arawa yesterday.
President MOMIS said that Bougainville can dream about gaining Independence but Independence and Economy go hand in hand.
AND how things are going on Bougainville does not have the funds to support the Autonomous Bougainville Government which is the only vehicle that will take the people to decide their future status through this referendum.
He told the Arawa forum that Bougainville Independent already as it was already exercising the power of Autonomy BUT will have to look after Defence and Currency after the referendum.
ABG President said that for the ABG to raise enough funds to sustain Autonomy and Independence the PANGUNA mine must be re-opened under the proposed Policy on mining which will be tabled at the ABG House at the September session of parliament.
The meeting will end today and the team will continue with the 5th Forum to be held at the Boleuko Community hall in Bana.
All other speakers and presenters supported the move by the ABG to fast track the reopening of the Panguna Copper mine with BCL as the first company they would like to approach.
Meanwhile the President of the MEKAMUI UNITY Government in Panguna, PHILIP MIRIORI said that their group is ooposed to reopening of the Panguna mine.
He told the gathering that BCL had no money to restart the Copper and Gold mine.

Ends  

» NEW DAWN ON BOUGAINVILLE
KAUONA/MOMIS JOINT STATEMENT By Aloysius Laukai Two
New Dawn FM
26 jun. 2013 01:13 more »

Two Bougainville leaders last night made a joint statement that they were happy and are now committed to work together a team to progress the Bougainville Mining Policy in the best interest of the people of Bougainville based on the sacrifices of the ten year conflict on Bougainville.

The two leaders in the past were in loggerheads over differences they had concerning the draft mining policy for Bougainville.

SAM KAUONA with his Bougainville Resources Owners did not agree on Section 23 of the Bougainville Mining Policy which stated that the Landowners owned 50% from their resources whilst the Autonomous Bougainville Government owned the other half on behalf of other Bougainvilleans who were not resource owners.

And just recently the ABG and the Bougainville Resources owners and Ex combatants through a series of consultations agreed to change rights vested to the people of Bougainville.

The bill is yet to be finalized through a series of forums and consultations with all stakeholders on Bougainville before it is presented to the ABG for final approval.

The two Bougainville leaders last night announced that this was a breakthrough and it favours the people of Bougainville.

New Dawn FM understands that drafting instructions has been given to the Lawyers to incorporate the changes before it goes back to public scrutiny again.

And it will be passed once all Bougainvilleans are happy with it.

This legislation has been controversial because Natural Resources including Minerals and Oil gives power to the economy.

ends  

Bana Forum opens 

by ramunickel
Aloysius Laukai | New Dawn



The 5th Regional Forum on Panguna Negotiations was officially opened by the ABG President John Moois at the Boleukp Community Hall in the Bana district this morning. 

This special meeting was programmed to also gauge the view of the people of Bolave Constituency who are directly affected by the wastes from the Panguna copper mine which used to dump all the wastes on the river system and unto the sea in South West Bougainville.

Although the mine has been closed for more than two decades the damage has been done and the people of Bolave continue to live with these problems and the reopening of the Panguna mine will heavily affect them.

In his opening remarks, the local ABG member for Bolave, Lawrence Wakai said that he has been against the opening of the mine in the past, however he had to change his stand to support the reopening because he realised that the ABG needed funds to fast track a lot of activities it wants to do for Bougainville. 

He said that he was also happy that the ABG has developed its own policy on mining which addresses a lot of these past grievances which started the Bougainville conflict.

The forum will end tomorrow afternoon.

ramunickel | June 26, 2013 at 4:16 pm | Tags: Bougainville, Environmental damage, John Momis, Panguna, Rio Tinto, riverine tailings  

 

Exposed: Pro-Mine Bougainville Leader Paid by Foreign Lobbyists
by ramunickel
PNGExposed blog

The ‘new’ Panguna Landowners Association, led by its Chairman, Lawrence Daveona – a Port Moresby based businessman and civil servant – is holding itself out as the true representative body for landowners on Bougainville. And, to that end, the association has put itself in the box-seat to negotiate the mine’s reopening [1] with Bougainville Copper Limited (BCL).

But there is more to this political coup than meets the eye. PNGexposed can confirm that the group’s Chairman, Mr Daveona, has received thousands of kina in payments from the European Shareholders of Bougainville Copper (ESBC), a body set up by BCL’s European investors to lobby for the mine’s reopening.

These payments have been made by ESBC’s President, Axel G Sturm. According to The Australian, Mr Sturm is “possibly the company’s largest individual shareholder”. He has been agitating for the mine’s reopening from his home in the Principality of Andorra, a notorious tax-haven and secrecy jurisdiction (there is no evidence though that Mr Sturm is involved in any illegal activity).

Receipts and reports viewed by PNGexposed show that Daveona received numerous payments by ESBC between 2009-2011, ranging from K1,000 to K4,650 in value (see Appendix A). Some  payments are simply labelled ‘Project Funding’ and ‘ESBC Activities in Panguna’, while another was evidently made to purchase a laptop for James Tanis, Bougainville’s former President, who has now come out in support of the mine’s reopening. [2]

In 2008 the ESBC’s President, Mr Sturm, claimed to be “deeply impressed by Lawrence Daveona. He is the ideal mediator in this sensitive issue [mine reopening]. He has our [ESBC] confidence and our full support as well”. [3]


Axel G Sturm with Lawrence Daveona, Michael Pariu, Chris Damana and Severinus Ampaoi – Davoena, Pariu and Ampaoi strongly supported, and profited from, Rio Tinto/BCL during the 1980s and once again lead efforts to reopen the mine today.

We have also discovered evidence that Daveona, evidently on behalf of landowners, took K5000 from BCL to fund the reconciliation process between different landowner groups – a process viewed as a ‘fundamental condition precedent’ [4] for the mine’s reopening.
These payments – in particular the ESBC money – raise serious concerns over whether Mr Daveona’s leadership role has been compromised by personal pecuniary interests.


Axel G Sturm with Sam Akatoi another Bougainvillean ‘leader’ supporting Rio Tinto’s return.

But there is more! Daveona was allegedly sacked in December last year as Acting Deputy Clerk of PNG’s Parliament (Daveona has lived in Port Moresby since the early 1990s). According to a Post-Courier report [5], “alcohol, vehicles and other resources have been provided by Parliament for Fraud Squad officers to carry out investigations against certain senior officers of the Parliamentary services”. It is claimed by the Acting Clerk of Parliament, Simon Ila, that his Deputy, Mr Daveona, was responsible for this inappropriate conduct.

It is perhaps not surprising then that Daveona was one of the targets of Francis Ona and Perpetua Serero as they attempted to clear out the rot from the landowning community during the late 1980s. At the time Daveona was a manager at the Bougainville Development Corporation (BDC), and a Secretary/Director of the Roads Mine Tailings Lease Trust Fund (RMTLTF) – a body set up to administer certain mine compensation payments.

The BDC was controlled by a number of rich nationals. When the conflict kicked off, and Francis Ona called for a more equitable distribution of wealth and resources, the BDC it appears were happy to assist the PNGDF slaughter their own brothers and sisters on Bougainville, flying and maintaining the infamous Iroquois helicopters supplied by Australia. By Daveona’s own admission: “Heli Bougainville was a subsidiary company of Bougainville Development Corporation (BDC) the very company I was also a subsidiary company manager of another one of its companies namely, Wear Resistant Material (PNG) Pty. Ltd at the start of the crisis in 1988. We the employees of BDC at that time knew this [that the PNGDF were using Heli Bougainville pilots] and it was business as usual for BDC”. [6]

The helicopter-gunships flown by Heli Bougainville dropped grenades onto villages, and dumped murdered civilians into the ocean – not exactly “business as usual”.

Daveona’s tenure at the RMTLF was also plagued by suspicions. Dr Henry Okole, a Senior Researcher in Governance and Institutional Matters at the National Research Institute, claims:

First, there was a complaint that formal membership of the RMTLTF, including the right to attend meetings and appoint the executive, had been artificially restricted to a small minority of the titleholders in the lease area, while the rest of the landowners had no control over its operation. Secondly, although many ordinary PLA members were aware of the business activities of the RMTLTF, some of our informants claimed that the management had failed to produce a financial report to notify them of the present financial standing of the fund. Thirdly, there was discontent over the recruitment of a Filipino as a general manager of the fund. This man was alleged to be in receipt of an annual salary of K12,000. There were claims that the PLA members were not notified of his recruitment, and there was clearly some resentment at the size of his reported salary. Finally, there were allegations that the whole operation of the RMTLTF, like that of the PLA itself, had come to be geared to the personal gain of the board members. For instance, sponsorship of students to higher education institutions was said to have been monopolised by the board members. There were also rumours that the fund had begun to operate as an integral part of the Bougainville Development Corporation – a move described by the some of our informants as ‘greedy’ and ‘self-benefiting’.

Lawrence Daveona has been, for many years, [7] an advocate of BCL’s return to Bougainville –this support is so overt that on Daveona’s website the following image appears when the heading “Our Future” [8] is clicked:


BCL Chairman and Secretary enjoying the finer things in life.

To date Daveona’s support for BCL has been couched in largely benevolent terms, for the greater good of ‘his’ people. But in light of these payments, and other serious allegations, it would appear fair to ask whether other material motivations inform Daveona’s call for BCL’s return?

And how many other ‘leaders’, we wonder, are also taking payments from those associated with BCL, or have lucrative ‘business contracts’ lined up for BCL’s return – more than a few we bet!

Appendix A



References

1. http://www.postcourier.com.pg/20130611/news.htm
2. http://ramumine.wordpress.com/2013/05/07/...-on-bougainvilles-future/
3. http://www.bougainville-copper.eu/informations-2008-2.html
4. http://www.postcourier.com.pg/20110328/news09.htm
5. http://www.postcourier.com.pg/20121214/news14.htm
6. http://www.bougainville-copper.eu/news-july-2011.html
7. http://www.postcourier.com.pg/20070228/business03.htm
8. http://panguna-landowners.org/bcllandowners/jsp/BCLPeopleFuture.jsp
ramunickel | June 26, 2013 at 2:47 pm |  

A representative of land owners around the Panguna mine in Papua New Guinea’s Bougainville says there is strong support for the re-opening of the controversial mine.

An executive of the Panguna Landowners Association, Chief Michael Pariu, was speaking after the latest government organised forum to canvas the people’s views on the mine re-opening.

He says groups from the districts of Wakunai, Kieta and Panguna, including former combatants, have agreed that a re-opening is necessary to lift the Bougainville economy.

“We are financially handicapped to run the affairs of Bougainville, the affairs of community service and also the affairs of affected landowners. So, a reason - clear and loud - voted for everywhere in Bougainville that we are in Bougainville in desperate need of finance. So that is why a re-opening of Panguna mine is what everyone is expecting now.” Chief Michael Pariu.

He says issues of ’bel kol’ or compensation, and reconciliation and rehabilitation will still need to be finalised beforehand by the company, Bougainville Copper Limited, and the Papua New Guinea and Australian governments.

One last forum is to held in Panguna next week.  

http://ramumine.wordpress.com/2013/06/26/arawa-forum-successful/

Aloysius Laukai | New Dawn



The 4th Regional Forum on Panguna Negotiations ended last night with every stakeholders putting their views on the future of the Panguna Copper mine. 

Despite the different views from all sectors of the community, the overall result of the forum was successful.

The fourth Regional Forum on Panguna negotiations in Arawa was for the Kieta and Wakunai districts and all participated fully at the forum.

The forum has for the first time in the short history of Bougainville created the environment conducive for real constructive discussions by all stakeholders.

The ABG President John Momis attended full time the two days forum in Arawa officially opening the forum on Monday morning and also officially closing the forum late last night. 

According to the President the forum achieved its aim that is to make sure all stake holders present their views on the future of Panguna and Bougainville.

He noted comments made by the President of Mekamui Unity Government on where his people will be located if the government is very strong on reopening the mine. 

ABG President commented that the ABG must find ways now to accommodate the Mekamui and the Tonu group through its COE system of government. 

He said that empowering the people is the way forward for Bougainville and he does not want to see one group forced out of the way. 

The ABG President thanked the people of Central Bougainville for participating at this very important forum.