Trading Bougainville Copper (ADRs) 867948

http://www.thenational.com.pg/092408/nation31.php

Arawa stakeholders form tourism body
By AUGUSTINE KINNA
STAKEHOLDERS in Arawa, Central Bougainville, are working together to revive the tourism industry in the region.
According to deputy chairperson Josephine Harepa, an office had been set up and they were now working around the clock to get business off the ground.
“We have formed an association and proposed to call it the Central District Tourism Association,” Mrs Harepa said.
She said the association would meet this week to deliberate on vital issues on how best they could revive the industry in their area.
She said registration and work on the framework of the constitution was underway and they would be carrying out awareness programme on the association and were also planning to extend the business to north and south of the island.
“Bougainville has big potential in tourism and with such an industry in place, it could help boost the economy of the region,” she said.
Mrs Harepa also said there was high interest among youths to revive the tourism and hospitality industry as indicated by the number of youths seeking training in hospitality and tourism.
“A lot of youths in the region are interested in the industry as they see tourism is a business that they can easily tap into,” she said.  

....schon eine Pangunaminenbesichtigung mit Roadblockhüpfen unter Kreuzfeuer angeboten :-))))))))))  

http://www.pacificmagazine.net/news/2008/09/26/...t-floating-brothels

Die Sankamap ist das vom ABG angeschaffte Schrottschiff von den Philipinnen um den Transportverkehr zwischen den Inseln zu stärken ;-))))))))))))

Officials are concerned that some ships abandoned by Papua New Guinea provincial governments in Rabaul Harbor are being used as brothels, and others are an environmental hazard, the Post-Courier reports.

The newspaper reports that there are at least four ships in Rabaul Harbor that have been abandoned.

They are the MV Elle Tanya owned by the West New Britain Provincial Government, and MV Paul Tohian and MV Beaumaris owned by the New Ireland Provincial Government.

The MV Sankamap previously owned by the Autonomous Region of Bougainville Government was also a concern but was bought by a Rabaul businessman last year and there are now talks of the ship being brought to the dry docks in Port Moresby for maintenance, the Post-Courier reports.

Area residents say the MV Paul Tohian and MV Beaumaris, despite listing, are being used as brothels to service Asian fishermen who dock in Rabaul to buy provisions.

The Rabaul Urban Local Level Government is also concerned that the abandoned ships could sink, and cause fuel spills that would result in environmental damage to the region.  

http://www.postcourier.com.pg/20080926/frhome.htm

READING debate on autonomy, it is amazing to note the kind of intense argument this issue has already created among ordinary citizens.
I would like to support Eddie Nakat of New Ireland with his views (Post Courier, August 6 against one Jacob Sekewa on this contentious issue.
I think Sekewa is quick with his comments that PNG may become disintegrated and politically divided if provinces are given autonomy.
There has not been a precedent that could lead us to believe that autonomy is bad for PNG.
The Autonomous Region of Bougainivlle has a few years of implementing this concept after the national government granted the municipal autonomy in 2001. For the region, it has been at war for 10 years until it was granted autonomous government. This may be the same for the other 18 provinces if they are given the same opportunity to prove themselves.
Moreover, people’s attitude would be one of the influential factors in determining the success of autonomy for a province.
In PNG, we are faced with development challenges and problems, simply because we have an attitude problem.
It is the major hindrance to development, which directly contributes to corruption, greed, and law and order issues affecting the country’s progress.
In other words, autonomy will be a failed concept for a province if its people attitudes do not match the spirit and intention of having an autonomous government.
As far as I am concerned, a country’s development success is not only determined by its natural resources endowment (PNG’s case) but by its intellectual and well-behave human resource.
Taking Singapore as an example, it has no natural resources but relies on its law abiding, hardworking and intellectual human resources to develop the nation. The human resources that behave and focus on giving something back to the country without greed and corruption is something NG is lacking. In the end, attitude plays significant role here for a nation’s advancement.
I believe autonomy will be good for all provinces, if people can change their attitude to embrace autonomy as the means to improving individual province strive for socio-economic and political development, thus contributing to the overall development of this beautiful country.  

Invincible closed AU trading at Arawa. I think they are in decline

Wenn die bis jetzt vom ABG favorisierte Invincible Resources ihre Goldraffinerie in Arawa geschlossen hat???
so kann es dazu nur 2 Gründe geben.

- Kein Landeigner ist mehr bereit sein geschürftes Gold unter Preis an Invincible zu verkaufen oder

- Der Wiederstand im ABG ist so gross geworden dass die Invincible Befürworter zwischenzeitlich in die      Minderheit geraten sind. Auch dürfte es für Inv. bedeutend schwerer geworden sein die nötigen Mittel für eine  Exploration aufzutreiben (nachdem die "Roadshow" ein Schlag ins Wasser war) . Angeblich für die Exploration über die nächsten 3 Jahre vorgesehene Mittel waren 20 Mio USD.

- Nachdem sich die PNG Justiz den Invincible/ABG Deal vorgenommen hat könnte natürlich auch Semple  zu der Einsicht gekommen sein dass der Deal gecancelt wird und seine Zelte auf Bougainville vorzeitig abbrechen.

- Da passt es natürlich ausgezeichnet wenn die im November zu veröffentlichende Hatch Studie die BCL Alternativen aufzeigen wird. ;-))))))))))))))))))  

Nekro - hab mal ne Frage zu einem alten Thema:

Ist eigentlich eine Einigung erzielt worden, wer die Kosten der Reconciliations übernimmt?

Weißt schon, die Sache mit den Schweinchen.

Gibts dazu Infos?

Gruß Tom

 

und laufend finden welche statt.Lawrence ist dazu auch vor Ort,er geht davon aus dass alle bis Jahresende reconciliiert haben.(Insgesamt geht es um ca. 200 von diesen Feiern).

Sie werden von Simon Pentai organisiert,u. zu einem grossen Teil von BOC finanziert.

Das Geld wird jeweils in Raten u. nach strenger Kontrolle an Jimmy Miringtoro den MP von Mittel-Bougainville übergeben.Es handelt sich dabei echt um peanuts,so gibt es z. B. Anfragen von 200 Kina (50€) um den Transport zu finanzieren.

Einige Landeigner haben ihre Versöhnungsfeiern auch schon auf privater Basis durchgeführt.Durch den "Scrapmetaldeal",bei dem die Landeigner die alten BCL Anlagen verschrotten kommt immer mehr Cash in die Panguna Area u. Umgebung.  

http://www.pacificmagazine.net/news/2008/09/29/...uality-in-melanesia

Interessant an dieser Meldung ist dass die noch von Kabui als Parlamentssprecherin wegen ihrem Wiederstand gegen den Invincible Deal abgesetzte Francesca Semoso anscheinend wieder in ihre Funktion eingesetzt wurde........Deputy Speaker of Parliament Francesca Semoso and Minister the Honorable Laura Ampa from the Autonomous Bougainville Government

Workshop Details Goals For Gender Equality In Melanesia
A Sub-Regional Workshop on Special Measures for Women, focusing on Melanesia, was held in Port Moresby, Papua New Guinea last week. This is the official outcome statement of the workshop, which was sponsored by the Pacific Islands Forum Secretariat:

In 2004 the leaders of the Pacific Islands Forum called for action to address the low levels of women in decision-making, within the framework of the Forum’s Pacific Plan and consistent with the Pacific Platform for Action on gender equality. In April 2006 a “Pacific Regional Workshop on Advancing Women’s Representation in Parliament” was held in Rarotonga, Cook Islands. One outcome of that workshop was agreement that the Forum Secretariat, with international and regional partners, would initiate and coordinate sub-regional workshops on special measures and electoral reforms to promote the political representation of women.

2. The first such sub-regional workshop, focused on Melanesian countries, was convened in Port Moresby from 25-26 September 2008. The Workshop was convened by the Pacific Islands Forum Secretariat in partnership with the Department of Community Development, Government of Papua New Guinea, the Secretariat of the Pacific Community (SPC), the United Nations Development Fund for Women (UNIFEM), the United Nations Development Programme Pacific Centre (UNDP PC), the International Development Law Organization (IDLO), the Inter-Parliamentary Union (IPU), and with support from the Australian Agency for International Development (AusAID) and PNG Sustainable Development Program Limited (PNGSDP).

3. The Workshop was opened by the Right Honorable Grand Chief Sir Michael Somare, Prime Minister of Papua New Guinea, and was attended by the Honorable Dame Carol Kidu, Minister for Community Development from Papua New Guinea, Deputy Speaker of Parliament Francesca Semoso and Minister the Honorable Laura Ampa from the Autonomous Bougainville Government, along with current and former parliamentarians, senior officials and civil society representatives from Fiji, Papua New Guinea, Solomon Islands and Vanuatu. Supporting partners, international organizations and selected experts also participated in the workshop.

The Workshop

4. Opening the Workshop, Prime Minister Sir Michael Somare voiced his strong support for the advancement of women in public life, including increasing women’s representation in parliament. The Prime Minister emphasized the shared responsibility of men, women, members of the legislature and voters in working together to change perceptions and recognize the need for both genders to be represented in parliament and public life, in order for Pacific nations to realize their full potential in the global environment. He said that custom could no longer be used as an excuse to justify the exclusion of women from politics, when Pacific countries aspired to embrace many western ideals and concepts. The Prime Minister noted options currently under discussion in Papua New Guinea for increasing the low representation of women in parliament, including activation of the provisions in PNG’s Constitution for appointed seats, and/or introducing reserved seats for women; and expressed his support for continued work toward the implementation of such measures.

5. Participants considered and discussed the low level of women’s representation in Parliaments in the Pacific region by global standards, and analysis of the reasons for women’s lack of success in recent Melanesian elections. The Workshop noted a large number of factors including institutional, cultural and financial, which constrain women from political success. The Workshop discussed the reasons why special measures were needed and justified, noting in particular participating countries’ international and regional commitments to gender equality, as well as the very practical reasons women should be proportionally represented in parliaments, including fair representation, and the valuable perspectives and priorities on crucial social issues offered by women.

6. The Workshop examined the technical and legal options available for special measures to increase women’s representation. Participants recognized that differences between countries such as their respective electoral systems and the strength of their political parties, have an effect on the choice and potential effectiveness of special measures.

7. During the Workshop, each delegation provided information on the situation in its country, actions presently underway to increase women’s political participation, and remaining challenges. Examples of special measures already in place in the region were examined, including reserved seats for women in the Motu-Koita Assembly in Central Province and the Autonomous Region of Bougainville in Papua New Guinea, and party quotas in Australia. Participants were also advised about special measures presently under consideration in Melanesia, including utilizing constitutional provisions allowing for nominated seats in the national parliament in PNG, and a submission to introduce reserved seats for women as part of the constitutional reform process in Solomon Islands.

Key Outcomes

8. In discussing special measures in their countries, Workshop participants recognized that it is essential that such measures be owned, led, and supported by the women and men of each country, drawing on regional and international assistance where needed.

9. The Workshop further emphasized that strategies to increase women’s representation in parliaments must be holistic and comprehensive. As such, participants identified some key considerations relevant to all four countries in developing strategies for special measures, including:

• The importance of increasing knowledge about political, electoral, parliamentary and legal issues among those working towards women’s representation, in order to develop and implement fully informed and effective strategies, and participate in political discussions on an equal level with their male counterparts;

• The importance of working with men and including men in advocacy, education and strategy to increase women’s representation;

• The need for a united purpose and strategy among woman candidates, national women’s machineries, women’s groups and NGOs, in order to maximize impact;

• The need for greater attention to education of voters at the community level, both women and men, to raise understanding of political issues in general, gender issues, and the importance and value of women’s participation in public life;

• The need for further study of the psychology of voting and voting patterns in Melanesian countries in order to comprehensively understand voter behavior and inform strategy;

• The great importance of mobilizing financial resources to enable women to campaign effectively for election;

• The relevance of broader measures to combat corruption in politics and elections, in order to ensure that electoral competition is fair and transparent.

10. With these considerations in mind, each delegation commenced work to develop a national strategy for identifying and implementing appropriate special measures to increase the representation of women in Parliament:

A. Fiji identified that a coalition of government agencies, women’s machinery and NGOs should work together on both short- and long-term strategies to achieve the goal of a minimum of 30 percent of women in Parliament:

* In the short term, working towards making quotas mandatory through legislation, while at the same time lobbying political parties to adopt and implement voluntary quotas for women in their party manifestos, and lobbying for the appointment of more women to the upper house of Parliament;

* implementing the “gender elections cycle” presently being developed in cooperation with the Office of the Supervisor of Elections;
- a long-term approach to promote constitutional amendments to entrench party quotas in the lower house of the Parliament, as appropriate to the electoral system.

B. Papua New Guinea also identified short- and longer-term approaches:

* In the short term, working to implement the existing NEC (Cabinet) decisions on special measures. This means promoting amendment to the Organic Law on Integrity of Political Parties, to remove the ability of members in nominated seats to participate in motions of no confidence to block budget bills. This would remove a present blockage to NEC endorsing the activation of constitutional provisions to appoint women to 3 seats in Parliament;

* Working to put in place an Organic Law on Gender Equity, or reserved seats legislation of some sort to provide for the election of women to reserved seats in parliament, ready for the 2012 elections. The number and distribution of such reserved seats would require further consideration and discussion;

* As a longer term goal, encouraging a broader review of the electoral and political system in PNG;

* In addition, PNG proposed that a study be conducted to document the establishment of reserved seats for women and the experiences of women in the Autonomous Bougainville Government, for the information and reference of others in PNG and the region.

C. Solomon Islands noted its present circumstances including the Constitutional and electoral reform processes underway. In that context, Solomon Islands identified a series of actions to be taken following the Workshop, including reporting back to the Office of the Prime Minister, head of the National Peace Council, Ministry of Women’s Affairs, the Electoral Commission, and the general public through forums and media awareness, involving RAMSI where appropriate. Solomon Islands proposed the production of a simple report on options for special measures in Solomon Islands, which could be translated into the main languages of Solomon Islands for wide consultation. Possibilities to be canvassed may include the ten reserved seats to be elected by both women and men already proposed, split constituencies and other options.

D. Vanuatu favored the introduction of reserved seats in parliament for women, to be elected by both women and men. Options include introducing a reserved seat for women for each province and municipality, or reserving a set number of seats for women in each multi-member constituency: the specifics of the number of such seats and their distribution should be a matter for further public consultation. Vanuatu emphasized the importance of educating ni-Vanuatu voters to fully understand and support such measures, through mass media and voter education programmes by Government and NGOs. Other key elements of Vanuatu’s strategy included building networks, identifying and working with male champions, lobbying and working through political parties and members of parliament, research, and obtaining technical assistance where necessary. Once public support was secured, necessary constitutional and/or legislative amendments should be clarified and pursued.

Finally, Vanuatu noted that each of its provincial governments included 4 appointed seats, one of which was for women, and these should be filled immediately following the November 2008 provincial government elections.

11. Participants expressed their appreciation for the support from regional and international partners for the Workshop and the ongoing efforts to increase women’s political participation in Melanesia. The Workshop requested that donors and partners continue to provide technical and other assistance as appropriate for the further development and implementation of their strategies.  

http://www.postcourier.com.pg/20080929/mohome.htm

THERE is no such thing as short cuts to getting public funds for projects that are supposed to benefit everyone, Member for North Bougainville Michael Ogio said during a meeting this month.
Mr Ogio met with the Council of Elders chairmen and other leaders at the Hani’s Inn conference room in Buka and told them that everyone should have a taste of the funds. Before funds can be allocated, project proposals must be submitted and go through screening and approval by the screening committee. He made his stand clear in the meeting and made those comments after some constituencies realised that they had missed out on the allocation for funds for projects proposed.
Seven projects for a number of constituencies have had money allocated and one of the most outstanding and unique projects was the Carerets fishing project, including a multifunctional vessel for the islanders, which should also perform the task of transportation. Meanwhile, Mr Ogio has appealed to the Council of Elders chairmen in his electorate to have some understanding and not to get emotional but to work in partnership and co-operate with him to enable distribution of services to flow smoothly.
ABG Member for Peit and Tonsu constituencies, Lawrence Belle, has also appealed to the member to be balanced in the allocation of the project funding because most of his people on the west coast of Buka do not have access to Buka town.
Mr Belle said bad road conditions and location of the villages in his area were preventing development. “My people are in desperate need of the basic services and I want this fact to be considered in the next project budget allocation,” Mr Belle said.  

http://www.thenational.com.pg/092908/nation7.php

Nachdem Invincible seine Goldraffinerie in Arawa schon geschlossen hat sollte sich die PNG Justiz nach Erhalt der Vertragscopy mit dem BRDC Deal beschäftigen.Wird der Deal gecancelt so bleibt für B' ville einzig und alleine die BCL Option ;-)))))))

BRDC deal affects B’ville future, says Pisi

By AUGUSTINE KINNA

MEMBER for Ioro in the Autonomous Bougainville Government (ABG), Benedict Pisi, said the Bougainville Resources Development Corporation (BRDC) agreement had affected the convening of the joint supervisory body (JSB) meeting between the National Government and the ABG.
Mr Pisi said this in the House of Representatives after noticing that the JSB meeting had not been conducted since the establishment of the BRDC.
He said that according to media reports, the National Government had not been provided a copy of the signed BRDC agreement.
Mr Pisi said the issue had prompted the National Government to protest by indefinitely suspending the JSB meeting which was a threat to the political future of Bougainville.
He said the BRDC issue seriously threatened the political future of Bougainville if the National Government was not fully aware of the signed agreement, its structure and the operations of the initiative.
“The BRDC deal can be a threat to the peace agreement as well as the referendum of independence for Bougainville if we, leaders, are not careful of our actions,” he added.
Mr Pisi said the House of Representatives voted overwhelmingly by 29 against five to endorse the agreement signed between the ABG and the BRDC.
He asked the authorities responsible to clarify as to why the National Government was not given a copy of the signed BRDC agreement.
Responding to Mr Pisi’s concerns, acting ABG president John Tabinaman said there was nothing to stop the ABG from providing a copy of the agreement to the National Government.
Mr Tabinaman said a Bougainville ministerial committee, led by ABG Minister for Trade and Industry Joseph Watawi, had travelled to Port Moresby to present the document.
He said it was unfortunate the National Government did not make time available to meet and discuss the issue with the ministerial committee.
“The BRDC is an initiative of Bougainville and is also an initiative which Bougainville leaders see as a launching pad to the economic recovery of the region,” Mr Tabinaman said.
He said the BRDC was an issue for Bougainville and the people should not see it as a mining company.
Mr Watawi said the BRDC was purely a commercial entity to help businesses in the region.  

http://www.postcourier.com.pg/20080930/tuhome.htm

BOUGAINVILLE now seems to be a claim industry because a lot of claims have been attended to without being properly analysed, Leitana Nehan Women’s Development Agency Helen Hakena said.
This had led to huge sums of money ending in the wrong hands, she said.
Mrs Hakena said this after the Bougainville Reconciliation Committee gave away K10,000 to the “victim” who was actually the perpetrator but after some hours ended up being the victim while the original victims ended up being the perpetrators.
Meanwhile, a family in Ieta village on Buka Island ended up paying 50 pigs, 50 strings of shell money and K5000 to a family from Kieta in Central Bougainville.
According to the mother of the Ieta family, the claims were unrealistic as her family members were victims of the man involved in the first place.Her husband and sons retaliated after being assaulted and verbally abused for almost three hours inside Kenny’s hall, the popular dancing hall in Buka town.
The man who was the original perpetrator later ended up being the victim in one of the Buka hospital wards with just a swollen face but could not be treated due to the high alcohol content in his blood. He ended up being admitted to hospital for a bit longer before he was treated.
After all the hassles, a reconciliation ceremony, involving the chiefs from Kieta and Ieta, was held and the family which were the original victims ended up being the perpetrator who had to pay K5000 with 50 pigs and 50 strings of shell money in response to the compensation claim.
The situation is now under control but the final stage of the reconciliation ceremony is yet to be completed.
Meanwhile, the parties involved are trying their best to maintain a good relationship between them until the final stage of the reconciliation is completed  

...window

Während RIO in AU 11,5% verloren hat hält sich BCL bei 0,98 AUD 0,556 € unverändert.Trotzdem ist die BOC Bewertung vergleichbar eines Juniorexplorers immer noch echt ein Witz.Nachgewiesene Reserven (nur Pangunamine) von 80 USD pro Share oder 32 Mia USD steht eine aktuelle Marketcap von gerade mal 392 Mio AUD (319 Mio USD) gegenüber.Zum aktuellen Kurs bekommt  man also BOC für unter 1% des Wertes der Pangunareserven.

Eine über 20 Jahre erwiesene Profitabilität,ca. 20 cts Cash pro Share,eine durch Strasse Hafen,u. Flughafen erschlossene Mine,Unterstützung der Wiedereröffnung sowohl durch PNG Präsident Somare als auch Rio Tinto,Weltbank und Landeigner heben BOC von allen Explorern deutlich ab.

Die Unterbewertung ist wohl ein Grund dafür dass BOC den aktuellen Rohstoff Downmove der letzten Tage im Moment ohne Kursverluste überstanden hat.

Nach Hatchstudienveröffentlichung und Präsidentenwahl auf Bougainville sollten wieder deutliche Kurssteigerungen drin sein.


http://network.nationalpost.com/np/blogs/...-out-the-window-quot.aspx

Artikel aus der Financial Post

Junior resource valuations being thrown out the window

Valuations in the junior resource space are being thrown out the window as the markets crumble to a degree perhaps not seen ever before, says John Lee, portfolio manager with Mau Capital Management LLC.

"What we are witnessing is unraveling systemic risk, debt implosion in its full view except the scale is grandeur than 1930," he says.

He said the main difference between today and 1930 is that the U.S. dollar is not anchored, adding that U.S. dollars will be pumped in to stabilize the system. "Maybe not through the [U.S. bailout] bill but they will be through other means." he says


Mr. Lee adds that the liquidity crunch is sparing very few sectors right now, including his specialty, the junior resource sector. He says junior resource shares are now trading back to levels of $300 gold and $40 oil.


"With a number of junior stocks I know trading below cash value, in the medium to long term those stocks represent great investment. However, I don't know if today is the climatic bottom," he adds.

Die Werte im Junior Ressourcen Bereich und die Märkte zerbröseln zu einem Grad, den ich nie zuvor gesehen habe, sagte John Lee, Potfolio Manager von Mau Capital Management LLC.

"Was wir miterleben ist enträtseltes System Risiko, Schuldenimplosion in vollen Umfang, der größer ist als 1930."

Er sagte, dass der Hauptunterschied zwischen heute und 1930 ist, dass der Dollar nicht verankert ist, fügte aber hinzu, dass US Dollars in den Markt gepumpt werden  um das System zu stabilisieren. Möglicherweise nicht durch das US Notfallprogramm,aber es wird durch andere Hilfsmittel geschehen.

Herr Lee fügte hinzu, dass der Liquiditätscrash ein paar Sektoren ausnimmt, inkludiert seine Spezialität, den Junior Ressourcen Sektor. Er sagt, dass Junior Ressourcen Aktien auf einen Niveau handeln, wo Gold 300 USD und Öl 40 USD war.

"Mit einer Anzahl von Junior Ressourcen Aktien, die ich kenne, die unter Ihren Bargeldwert handeln. Diese repräsentieren auf mittlere oder längere Sichen eine großartige Investitionsmöglichkeit, Wie auch immer, ich weiß nicht ob wir heute schon den Boden gesehen haben," sagte er.  

Mit den Wahlen zum neuen Präsidenten wird es ernst,die Kandidatenliste sollte ende Oct. stehen und die Wahlen dann ende Nov. stattfinden.Zu dem Zeitpunkt müsste dann auch die Hatch Studie publiziert werden.Wenn alles klappt könnten wir uns dann auf die Weihnachtsbescheerung freuen ;-)))

http://www.thenational.com.pg/100108/nation31.php

Pihei to oversee B’ville by-election
THE Bougainville Executive Council(BEC) yesterday appointed Mathias Pihei as the acting Bougainville Electoral Commissioner.
This was announced by the acting president of the Autonomous Bougainville Government John Tabinaman.
The BEC, under the Bougainville Senior Appointments (Process and Acting Appointments) Act 2008, was empowered to appoint a person to act in the office of that Bougainville Constitutional office-holder for a period not exceeding six months.
The Bougainville Senior Appointments (Process and Acting Appointments) Act 2008 was approved by the House of Representatives on Sept 10.
“The BEC’s appointment of Mr Pihei as the acting Bougainville Electoral Commissioner is timely because of the urgency to conduct the by-election of the president and member for Ramu constituency,” Mr Tabinaman said.
He said funding for the by-election had been secured.
However, Mr Tabinaman said the funding allocation does not include funds for the Bougainville Police Service personnel.
“The police service would be playing a vital role in ensuring that the by-election is conducted peacefully, without any problem and therefore funds to cater for them must be sorted out,” Mr Tabinaman said.
He added that a directive was issued yesterday to the acting Bougainville Electoral Commissioner to secure K535,600 from internal funding sources to cover for the cost of the Boungaville Police Service personnel who would be involved in the by- election.
Mr Tabinaman said the Bougainville Election Act 2007 would be applied to conduct the by-elections.
He further explained that the appointment of Mr Pihei was a part time appointment until the Bougainville Senior Appointments Committee appointed the Bougainville Electoral Commissioner.  

http://www.thenational.com.pg/100108/nation31.php

By AUGUSTINE KINNA
PREPARATORY work for next year’s Autonomous Bougainville Government (ABG) budget started with the presentation of the 2009 Budget framework and strategy to the Bougainville Executive Council (BEC) yesterday by the ABG minister for Finance and Treasury, Mathias Salas.
According to acting president John Tabinaman, the BEC has endorsed the contents of the framework and strategy, indicative budget ceiling and timetable for the 2009 ABG Budget and directed the Bougainville administration to finalise the 2009 papers.
Mr Tabinaman said the budget framework and strategy was the key document establishing the broad principles, economic and fiscal parameters that guide the formulation of the ABG budget.
He said the BEC had approved the formation of a Ministerial Budget Priorities Committee to draw up a fair budget.
The members of the committee included the vice-president, minister for Finance and Treasury, minister for Planning, minister for Local Level Government and the minister for Works.
He said the chairperson of the Budget Priorities Committee would be the minister for Finance and Treasury.
Meanwhile, the Bougainville administration was directed yesterday by the BEC to secure an additional K4 million for the construction of the ABG office complex.
Mr Tabinaman said the BEC was briefed on the status of the office complex since the design and model of the building were handed over to the ABG for final comments.
“The ABG complex will accommodate the office of the president and vice-president, Bougainville executive room, the office of the speaker, deputy speaker, clerk of parliamentary services, offices and conference room for parliament committees, a debating chamber, and the library,” he said.
Mr Tabinaman said the main function room and the VIP function room were also included in the design  

Peter Koven, Financial Post  Published: Tuesday, September 30, 2008



The TSX composite index's metals and mining group plunged a staggering 12.8% yesterday as investors panicked about the economy and liquidated positions. And it was copper, a metal that has outperformed its peers, that led the way down.

Copper, often called "Dr. Copper" because of its ability to forecast the future state of the economy, dropped 5.5% to close at US$2.91 a pound, the first time it fell below US$3 a pound all year. And the major copper stocks fell anywhere from 14% ( Teck Cominco Ltd.) to 23% ( Equinox Minerals Ltd.), continuing a trend in which they badly underperform the metal.

They were the biggest decliners in a massive sell-off of all base metal stocks. That more than offset gains in some gold stocks, which tend to perform well amid economic turmoil.

And with the possible liquidation of a major metals-investing hedge fund around the corner, the situation could soon get worse for junior miners, which have been hit harder than anyone in recent months. While metals such as nickel

and zinc have fallen sharply this year because of weakening supply-demandfundamentals, copper has performed better because of low global inventories and continuing strong demand from China.

But that meant little yesterday as funds looked to sell almost anything.

"There's a huge number of hedge funds that are under significant pressure and they're just fire-selling whatever they have," said Derek White, executive vice-president of copper producer Quadra Mining Ltd. "If you happen to be in a company that's liquid or that they can sell, I think there's a lot of pressure to continue to do that."

One possible liquidation that has the junior mining world worried is the special situations fund of Londonbased RAB Capital PLC.

The US$923-million hedge fund is one of the biggest investors in many companies on the TSX Venture Exchange. It has lost most of its value this year, and investors recently voted on whether to liquidate the fund or lock in money for three years. The results of the vote are available this morning.

Copper metal is falling amid fears of a prolonged global recession and shrinking demand.

John Hughes, an analyst at Desjardins Securities, said concerns about European banking failures are also putting pressure on copper and other metals that trade "at home" on the London Metals Exchange.

He said the stocks are performing especially poorly because their costs are rising very fast and putting pressure on margins. "Even in the case of copper, we don't need to get below a dollar a pound before [mines] begin to lose money," he said.

However, experts also said yesterday that the supply-demand fundamentals of copper remain very sound, and that investors will recall that fact once the panic selling ends -- whenever that is.

"A lot of people say there's still a couple of months of financial disaster to happen. And that's likely to push commodity prices down," Mr. White said.

 

www.postcourier.com.pg/20081001/wehome.htm

PAPUA New Guinea is watching the world’s financial meltdown closely, Acting Prime Minister Patrick Pruaitch told the Post-Courier yesterday.

He said PNG was lucky because its economy was not subject to credit borrowing, also operating on hard cash.

In the United States, it has been reported that investment in financial companies may be all but at a standstill in the near term, as investors become even more averse to risk after US lawmakers on Monday rejected a $700 billion bailout plan for the financial sector.

The move will also make valuing financial debt even more impossible than it has become in recent weeks, as bank failures and acquisitions send some debt values soaring and leave others essentially worthless.

The House of Representatives rejected a Wall Street bailout bill that would have authorised the Treasury Department to spend up to $700 billion to buy soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets.

Mr Pruaitch, who is also the Treasury Minister said: “Our economy is not subject to credit borrowing. We are operating on hard cash at the moment but we are watching this very closely. We still have K3.3 billion sitting in trust accounts which will take us three to four to use up … if an when anything happens these money can bail us out.

“We are watching closely what is happening now. We are watching what is happening around the world. Although it will have some effect on our economy but we have strategies in place if and when we are hit by it. We have the Medium Term Fiscal Strategy, it will underpin taking necessary steps and we’ve got sufficient cash at the bank to back us up.”

He said PNG Government was watching closely with local Government and top financial experts on standby for anything.

LOCAL PNG financial and mining experts have warned that while PNG’s economy is not directly related to the US and the country is protected, our Government should have a rescue package for the investors.

Several financial and mining institutions spoke on behalf of the private sector responding to questions about whether PNG was protected or insulated from the imminent recession or depression overseas regarding the US credit crisis.

Nambawan Super boss Leon Buskens said yesterday: “While we are insulated as our country’s investors do not have any material exposure in the sub-prime market, a prolonged and unresolved rescue package and reforms will affect us as this will trigger a general spiral downturn in spending and buyer/investor confidence in the world economy.

“I think we should all be hoping that the $US700 billion rescue package will be settled by the USA government soon. I think the ‘do nothing’ option will have a significant snowball effect and will greatly affect the world and also by spilling over in putting back the current world agenda in fighting poverty, climate change, and the ongoing food crises. The world as one community will be watching what the US and other advanced economies do now.

‘The price of oil has a correlation with the LNG project. I think if it goes below $US40 a barrel then the project may not be viable in its current form. While oil dropped this morning to $US95, it may not drop below the $US40 mark. Still at this time there are now more nervous and panicky people. I just noted that the Bolivian President addressed the UN in New York last week and blamed privatisation policies for the current crises.”

Nautilus Mining boss Mel Togolo however said that in order to minimise the impact of the US financial crisis, it was advisable that any budget surplus PNG has, should be directed towards creating a strong productive base (for example, infrastructure development) rather than consumption. “PNG is not insulated and must therefore take precautionary actions and be proactive,” Mr Togolo said.

“There are certain features that could help PNG prepare itself to minimise the financial meltdown in the US.

“PNG’s economy is not directly related to the US. Our major trading partner is Australia and some of the Asian economies. Australia’s economy is strong and quite buoyant, and has the potential to ride out the US financial crisis but may not totally avoid its impact.

“Most of the Asian economies have weathered previous financial crises better than most. By such associations, PNG could be able to withstand the global pressure. PNG’s economy is small but commodity based and while the Northern American stocks are moving south, commodity prices (copper, gold, cocoa, oil palm) are increasing as a result of higher global demand.’’
 

RTE Stuttgart -

www.rohstoffe-go.de

- BHP Billiton, weltgrößte Minengesellschaft, verlor in diesem Quartal 27 Prozent, damit der schlechteste Stand seit 1987. Das ist der größte Verlust an der Börse Sydney seit 21 Jahren für das Unternehmen. Rio Tinto, drittgrößte Minengesellschaft, fiel auf den niedrigsten Stand seit 17. August 2007. Der CRB Index (19 Rohstoffe) fiel um 5,9 Prozent, das ist der größte Rückgang seit 1956. Vom Rekordhoch am 3. Juli stürzte der CRB um 28 Prozent ab. "Das Vermögen wird in Bargeld umgewandelt, die Finanzkrise killt die globale Wachstumsstory", so Robbert Van Batenburg, Researchchef von Louis Capital Markets. Der globale Bedarf an Rohstoffen bleibt aber unverändert. "Jeder muß täglich essen, braucht Energie und Material um Häuser zu bauen", so Richard Elman, Vorstandsvorsitzender der in Hong Kong ansässigen Noble Group.
 

......Ablehnung von BHP-Offerte

http://www.undervalued-shares.com/de/club/...A2-EBD4-D9469224B4C9CE25

02.10.2008, 09:55 Uhr

MELBOURNE (AWP International) - Trotz der aktuellen Marktturbulenzen lehnt der britisch-australische Minenkonzern Rio Tinto die Übernahmeofferte des Wettbewerbers BHP Billiton ab. "Die aktuelle Situation hat keinen Einfluss auf die Zurückweisung des vorläufigen Angebots", sagte Vorstandschef Tom Albanese am Donnerstag. Rio Tinto brauche nicht grösser zu werden nur um der Grösse willen. "Wir haben die Grösse, die Stärke und die Ausdauer, um solch einen Sturm leicht alleine zu überstehen."

Die anhaltende Finanzkrise schürt die Sorge, dass auch die Nachfrage nach Rohstoffen nachlassen könnte. Der Kupferpreis sackte am Mittwoch bereits auf den tiefsten Stand seit anderthalb Jahren. Albanese setzt aber vor allem auf China, wo seiner Ansicht nach der Einfluss der Finanzkrise vergleichsweise begrenzt ist. Durch die hohe Nachfrage aus der Volksrepublik rechne er auch 2009 mit überdurchschnittlichen Rohstoffpreisen.

BHP Billiton will Rio Tinto für 114 Milliarden Dollar übernehmen. Am Donnerstag hatte die australische Kartellbehörde einen Zusammenschluss der beiden Rohstoffkonzerne abgesegnet. Offen ist noch die Zustimmung der EU-Kommission, die Bedenken gegen den Deal hat. Durch eine Übernahme würde ein weltweit führender Minenkonzern entstehen, der aus Sicht der EU-Kommission die Preise beeinflussen könnte. Mitte Januar wird mit der EU-Entscheidung gerechnet.
 

http://biz.yahoo.com/zacks/081001/14995.html?.v=1

Zacks.com
BHP Inches Closer to Rio
Wednesday October 1, 9:55 am ET
By Mark Vickery


The hostile takeover bid by BHP Billiton (NYSE: BHP - News) to acquire mining-giant rival Rio Tinto (NYSE: RTP - News) just got a step closer.  Australia, the headquarters for BHP Billiton and Rio Tinto, Ltd. (an RTP subsidiary), has approved the merger, which has sent Australian shares of Rio Tinto to jump 12%.  This morning, RTP is up another 3.8% so far on the NYSE.

Rio Tinto had rejected an earlier offer from BHP, but this was prior to the U.S. financial market descending into crisis.  Now, world-wide conglomerates are looking toward each other in order to secure their long-term support.

Zacks senior equities analyst Mario Ricchio covers both companies.  In his latest RTP report, he reiterated his Hold recommendation with this comment: 'Cost pressures due to ongoing supply constraints are adversely impacting Rio's margins and profitability.'  

About the possible merger between BHP and RTP, he said this: 'Notwithstanding the associated anti-trust issues, we believe a potential merger between BHP and Rio Tinto can deliver synergy benefits and offset rising operating costs, which have been trending upwards.  

http://www.thenational.com.pg/100308/nation31.php

By WALLACE KIALA
FOUR tour operators from Europe have been in the country for the past two weeks to visit some of PNG’s tourist destinations and market these local tourist spots to their European clients and holiday makers.
The four representing tour operating agencies in Europe were from Belgium, Germany and Switzerland and visited Kokopo, Rabaul, Madang and Mt. Hagen.
They were accompanied by the PNG Tourism product manager based in Germany, Meike Lang.
Their trip to PNG was part of their tourist and holiday destinations products targeting Australia, New Zealand and the Pacific.
“We came to PNG to see what opportunities your country can offer to European tourists and to get more tourists to come here and visit the many beautiful local places of PNG,” said Dominic Eckard, who heads Dreamtime Tours based in Switzerland.
Their meeting yesterday with PNG tourism industry partners and local tour operators was organised by the Tourism Promotion Authority (TPA).
They shared ideas and exchanged tour products offered in each country.
Most of them commented that PNG had excellent diversity with different cultures and landscapes such as volcanoes and high mountain ranges and beautiful coastlines.
They said, with visits like what they had done in the past two weeks it could boost PNG world tourism market.
Although this was the second time the group had been in PNG, Heidi Flamand from Aussie Tours in Belgium said the visit was to familiarise themselves with PNG and get their tourists to visit more destinations in PNG.
“Our tourists would definitely want to see PNG,” Ms Flamand said.
TPA’s industry partners and local tour operators at the workshop yesterday were Air Niugini, Ecotourism Melanesia, Airlines PNG, Tropic Tours, Kokoda Trekking, Holiday Inn, Crowne Plaza, Hideaway Hotel and Loloata Island Resort.
 

.....released

http://solomonstarnews.com/...d=3889&change=71&changeown=79&Itemid=26

Bekanntgabe des neuen Präsidenten Bougainvilles voraussichtlich am 22 Dezember.

Kommt es wie erwartet zur Wahl eines PRO BCL Kandidaten,so sollte man spätestens dann investiert sein. ;-)

Bougainville (RNZI) - Papua New Guinea’s autonomous Bougainville region will have a new president by Christmas.


The PNG electoral commission says a by-election will decide who replaces former president Joseph Kabui who died from a heart attack in June this year.

Bougainville acting electoral commissioner Mathias Pihei says nominations close on November 7th with polling starting on November 30th and running until December 12th.

The vote count is expected to be completed by December 22.  

Not for publication as yet, as they haven't opened up to allow for nominations yet, but the likely candidates are ...

5 mögliche  Kandidaten,von denen 3 PRO BCL sind,darunter auch unser Favorit ;-)))))))))))

The last two are "in Invincible's Pocket", according to all reports.

Da Axel bis Montag abend abwerden ist wird die Liste den ESBC Mitgliedern dann erst zugestellt.

Wer nicht so lange warten will:BM  

Die momentane Situation scheint mehr als günstig zum Einstieg bzw. massiven Aufstocken der Position. Fast alle Vorzeichen stehen auf grün. Die Zukunft ist bereits angekommen - nur es hat noch keiner bzw. nur ganz wenige bemerkt. Diejenigen Anleger, die bereits bis zur Halskrause investiert sind werden sich sicher fragen, ob man auf Kredit auch noch investieren sollte - nein - sie werden sich fragen, wieviel an Kredit ist möglich, um dieses einmalige Invest und dessen einmalige Rendite voll bzw. am vollsten auszuschöpfen. Die Banken werten die Sicherheit vom Invest nur mit 20%. Dies erscheint mager, aber selbst angeblich sichere Titel werden auch nicht besser beliehen.

Gibts hierzu Meinungen bzw. Erfahrungen?
 

das ist natürlich ein sehr heikles Thema, sollte man eigentlich nicht machen, kann sehr gefährlich werden, man sieht gerade wie schnell aus vermeindlich sicheren Werte über Nacht PennyStocks werden!

Die Banken werden in den letzten Tagen mehr als genug Briefe an Kunden verschickt haben, die ihr Depot beliehen haben und wo die Deckung mit einem Male nicht mehr ausreichte.

Muß aber gestehen, die Versuchung ist schon groß, trotz der Zinsen gute Gewinne einzustreichen.

Hab mich getraut, aber nur einen kleineren Betrag, wie heißt es so schön Gier frist Hirn!!!

Jetzt kann es aber langsam mal wieder etwas hoch gehen, die Umsätze sind ja auch mehr als mager, und das an allen Börsen!

Wie seht Ihr denn so die Entwicklung, die Ampeln stehen auf Grün > die Studie kommt im Nov. der Präsident ist gewählt im Dez., alle sind versöhnt und haben sich lieb, da muss doch auch mal der Kurs anspringen!!!

Ich gebe mal einen Tipp ab für Ende 2008 >> 2 €

Wie seht ihr das?  

........I think SAM AKOITAI is the man for this shorter period of time because;
1) He's got the Political background;
2)He's got a know how of what's happening within the Haus Tambaran Political Arena & ;
3)He's got a Mining Ministerial background.And as you's all aware that we do have our own Mining dramas in our region, the AUTONOMOUS REGION OF BOUGAINVILLE of course.

Als Ex-PNG Miningminister und Ex-BCL Mitarbeiter hat sich Sam Akoitai schon mehrmals öffentlich für die Wiedereröffnung der Pangunamine stark gemacht.In einem Interview hat er BCL,im Gegensatz zu den Chinesen als leuchtendes Beispiel dargestellt.

Sam ist unserer Einladung gefolgt und hat uns anlässlich der HV 08 im Hotel besucht.

http://www.bougainville-copper.eu/pageID_5766937_1.html  (Photo 16,18,) und uns seinem Nachfolger als PNG Mining Minister Dr.Puka Temu (Photo 33) empfohlen.

Wenn er als Präsident kandidiert und gewählt wird kann man sicher sein dass die Wiedereröffnung mit Volldampf betrieben wird.

Dann sollten die 2 € kein Problem sein,ob es allerdings sooo schnell gehen wird steht auf einem anderen Blatt.;-))