Trading Bougainville Copper (ADRs) 867948

http://hotcopper.com.au/...p?fid=1&tid=1899523&msgid=11086083

Yes the bot is loading the base at 65cps

But have you noticed the big consisent bid at 64.5 that keeps refreshing it self.

Maybe they are the same entity-sell a few at 65 /buy more a little lower-wouldnt surprise me if they are actually net buying.Large buys at 65 maybe just crosses to attract interest/scare sellers.

Seen it heaps of times in the market.

IMHO DYOR please.

Today: 06-Dec-2012
Time        Price Volume Value
  10:18:44    0.6500    10,000     6,500                    §
  10:18:44    0.6500    15,000     9,750                    §
  10:18:44    0.6500    15,000     9,750                    §
  10:18:44    0.6500    15,000     9,750                    §
  10:18:44    0.6500    15,000     9,750                    §
  10:18:44    0.6500    15,000     9,750                    §
  10:18:44    0.6500    15,000§9,750  

 

....Large buys at 65 maybe just crosses to attract interest/scare sellers....
das hat schon was.  ;D)))))))  

http://www.bnamericas.com/news/metals/...e-in-2013-cochilco/331472244

he average price of copper in 2013 will range between US$3.5/lb and US$3.6/lb, according to the VP of Chile's state copper commission Cochilco, Andrés Mac-Lean.

"The price of copper today is around US$3.60/lb and it will end the year with the same average, and the expectation for next year is that this price will be maintained," Mac-Lean said.

Despite the international backdrop and the European crisis, China is expected to continue growing at above 7.5% and the supply-demand tightness will continue, albeit to a lesser extent, according to the executive.

"Even though we are seeing an unstable global panorama, we are also seeing that China is not falling substantially which, means it will meet its growth target of 7.5% and will be close to 8%. Therefore, copper demand will continue to be strong," Mac-Lean said.

For 2013, Cochilco is estimating a copper supply-demand deficit of 100,000t. This year, the deficit will be around 220,000t.

OK Bougainville is not exactly PNG but the situation in the article below would have to bode well for BOC being given the nod to negotiate the reopening of Panguna.

http://www.abc.net.au/news/2012-12-06/...aty/4413548?section=business

PNG correspondent Liam Fox
Posted 45 minutes ago
The governments of Australia and Papua New Guinea have developed an Economic Cooperation Treaty, as part of a move to shift the focus of the bilateral relationship from aid to trade.

At a ministerial forum in Port Moresby the two foreign ministers Bob Carr and Rimbink Pato initialled an Economic Cooperation Treaty.

Once ratified it will commit the countries to work on trade, investment and business cooperation.

Mr Pato says it will involve a review of PNG's immigration laws to create special short-term work visas for Australians.

The PNG government will also open a consulate in Cairns in Queensland to process visas.

Senator Carr urged Australian businesses to take note of the Treaty and start partnering with businesses in PNG.

Posted by riverbend at 6:50 PM
A Message from Rene Pogel, BCL's Employee Relations Manager:


AFTER years of reporting "there has been no production since 15th May 1989", things may appear to be improving for Bougainville Copper following the election of a new autonomous government last year and recent meetings with the PNG Government discussing the possible resurrection of the massive Panguna copper-gold mine. If you are interested in re-applying for your former position with BCL, please email me now. But hurry as there is STIFF competition for the jobs!!!

Posted by riverbend at 6:27 PM
November 7, 2012  

 

Continuing on the specifics of the Mine, it is the most practical way forward. What are the Pros and Cons. Start with the Cons - it will be a bigger hole in the ground - not by much - continued ore body development is basic digging further down, it will not expand "out". Pros? 1. significant training and employment for a lot of Bougainvilleans, both directly, and in the supporting industries (Leo Hannett once commissioned an analysis that said that for every job directly with BCL, there were up to 9 in supporting services). 2. recommissioning of Infrastructure - power, roads, medical, port facilities, 3. Real Revenue - ABG Currently works with about K120M a year of which all but about K10M is handouts from Ausaid, GovPNG etc, and that clearly isn't enough. Economic modelling based on the previous BCA and new copper/gold prices, would see a direct revenue stream within the island of around K600M a year. The Panguna landowners have magnanimously agreed in principle that around half of that should go to "Greater bougainville". Even that is significantly more than they are operating with at the moment, and it doesn't include the potential tax revenue, which would still be going to Waigani. By having a serious and achievable plan for independence, and ergo, drawdown of financial powers, i.e. developing autonomous finance and taxation structure within AROB, as a precursor to independence, this figure would jump higher... I would (and have) suggested, that a reasonable chunk of this money is then put into a sovereign wealth fund, with appropriate international governance (Not that we don't trust ABG or PNG politicians with big buckets of money). That would grow at an accelerated rate, and by the time that the nominal end of the orebody is achieved, would be well and truly self-sustaining. By way of comparision - North Sea Oil, much of the revenue was split between norway and the UK. They UK spent theirs - Norway established a Sovereign Wealth Fund. It is now at point, where every adult in Norway could stop working and live off a comfortable government pension for the rest of their life, and this is not even eating into the principal of the SWF just the interest.. This could be Bougainville in 25-30 years time (or we could see similar procrastination and antagonism, as we have for the last 20 years).

..........ist der Autor?

.....der junge Quodling

diesen essay müsste man mal als Flugblätter auf Bougainville verteilen !!  

.. oder über Radio Newdown verlesen..  

 

Rosalyn Albaniel-Evara | Post Courier

PRIME Minister Peter O’Neill has reaffirmed his government’s commitment to investors by ensuring their investments are secure and successful.

Mr O’Neill gave this assurance while officiating during the commissioning of the Ramu Nickel project at Basamuk, in Madang’s Raicoast District yesterday.

Mr O’Neill said he had also given this same undertaking when he addressed the Mining and Petroleum Conference in Sydney.

“During this event the government had given a clear assurance, firmly committing the government to maintaining investor confidence to ensure that all investment including those from China are secure,” he said.

“We will work with the landowners and citizens of this country to ensure that this project is a success.”

Mr O’Neill said this was a very significant occasion because the Ramu Nickel project would become the fifth largest nickel mine in the world and would bring with it great benefits to the people of PNG.

He acknowledged that it had been a long and very challenging road to get the project to where it is today and took the opportunity to thank the developers, Ramu NiCo (MCC) Limited and its partners for their commitment and perseverance.

“This is the first major investment by China in PNG and its success will give a clear example on how the partnership between our two countries can work,” Mr O’Neill said.

He said over the past 36 years, PNG had enjoyed a good diplomatic and bilateral relationship with China.

He said this investment in Ramu Nickel would undoubtedly raise the level of trade and investment between the two countries and thanked the Chinese Government for its commitment to this project.

Mr O’Neil also acknowleged the presence of Grand Chief Sir Michael Somare and thanked him also for his hand in the project.

China’s Ambassasor to PNG, Qiu Bohua, said the multi-million kina project would carry PNG-China economic co-operation to a brand new era.

He said the $US1.6billion project was designed to produce more than 33,000 tons of nickel and 2300 tons of cobalt a year, placing PNG as the host of the 5th largest nickel laterite mine in the world.

Ambassador Bohua said the mine had brought to PNG much more than a world class mine.

During the construction phase, the developers purchased K500m worth of goods and services from local suppliers.

It also provided spin off opportunities worth over K200m to landowner companies and provided employment to more than 3000 PNG nationals.

Ambassador Bohua said over the next 20 years, the project would continue to empower PNG’s economy and the well-being of the local community.

He said MCC’s estimations were that the project would generate more than US$1billion in the form of tax royalties and equity distributions during its operations and more employment opportunities.

The event was attended by a huge delegation of officials both from the Government and private sectors of both countries.

The ceremony was capped off with the setting off of firecrackers before guests were ushered down to the wharf for their journey back to Madang.
ramunickel | December 7, 2012 at 4:51 pm | Tags: Chinese mining, Highlands Pacific, MCC, Papua New Guinea, Ramu nickel mine | Categories: Mine construction, Papua New Guinea | URL: http://wp.me/pMvf7-1VM  

Wird bei den Bouggys jetzt eifrig diskutiert.;-)))))))))

Besonders interessant dazu die Meinung von Tim warum RT/BOC  seit nunmehr fast 25 Jahren in PNG die Stellung halten.

Wenn diese "Gerüchte" stimmen u. darauf deuten P.Ts Aeusserungen (to start explorations) hin,so dürfte der zu erwartende BIGBOCBANG alles bisher dagewesene übertreffen ;-)))))

Details dazu im FoB

061212 BOUGAINVILLE SPECIAL

By Aloysius Laukai


The ABG President Chief JOHN MOMIS today called on the people of Bougainville to realize that Bougainville is so special and has that exclusive right by law to establish its own
government.

Speaking on his weekly radio Programme on New Dawn FM, President said as such he wants all Bougainvilleans to see that they are all part of this one team Bougainville.

Chief JOHN MOMIS said that all Bougainvilleans have to do their part in whatever activity they are in to contribute towards the common good for the region.

He warned if the people are divided and few individuals continue to destabilize the good work of the people the future of Bougainville is being threatened.

And if that happens it’s the people of Bougainville who will be ridiculed by the world for not utilizing the unique opportunity that the Papua New Guinea constitution had guaranteed them.

He called on the people to forget their differences and work together to build a better and prosperous Bougainville.

Ends

ein Hinweis aufs leere Orderbuch?  

PNGIndustryNews.net - Bad cop Chan

In a wide-ranging speech to the 12th PNG Mining and Petroleum Investment Conference in Sydney this week, O’Neill told a record 1350 registered delegates: “The undertaking I give you today is this, there will be no drastic or radical change to the laws that exist today – and there will certainly be no immediate change.”

In sharp contrast, Chan promised significant legislative changes in the coming year, including changes to the Mining Act, the Mining (Safety) Act and Offshore Mining Policy.

Chan’s presentation, which set the program for the 2nd day of the conference back by almost an hour, gave mining company representatives a bit of an adrenalin rush when he said there were proposals for a mine closure plan to be submitted when a company applied for an exploration tenement.

The actual text suggested, more plausibly, that a mine closure plan would be required when an application was made for a mining lease.

It was not the only occasion the Mining Minister went off script. On the first occasion he quickly corrected himself after his reference to the O’Neill-Namah Government resulted in uncomfortable laughter breaking out among the audience.

In his introduction the Minister said mining had been the largest contributor to the PNG economy “for well over ten years”. Maybe it was too hard to reflect back to the early days of independence when the Bougainville copper mine was a portent force in the PNG economy as the only major resource venture at the time.

One of the oddest plans put forward by the Minister was a suggestion that the revised mining policy would limit to ten the number of exploration licences “that any one person can hold at any one time”, while at the same time increasing the licence term from two years to five years.

The maximum area for an exploration lease will also be reduced by half from the current allowance of 250 sq km or 750 sub-blocks.

These are indeed groundbreaking ideas that could only stifle the all-important exploration sector. Unless this exercise becomes retrospective, which is unlikely because that would probably be illegal, it is largely academic since most worthwhile lease areas throughout the country are already accounted for.

Virtually all countries with any history of mineral exploration generally are more concerned with expenditure levels, and adequate activity, rather than the size of the lease areas granted.

For example, a recent release of mineral exploration acreage in South Australia provided for a number of leases that exceeded 1,000 sq km.

Minister Chan appears inclined to take a prescriptive approach to future exploration activity. Socioeconomic and environmental impact assessments would be made a requirement at the exploration phase, when explorers will have little awareness of the nature and scale of mineralisation they may discover.

In his address PNG’s Minister for Petroleum and Energy, William Duma, was highly optimistic about the future for the oil and gas industry. He said total gas reserves could amount to 60 trillion cubic feet or more and provide the basis for LNG exports as well as creation of a domestic industry.

He hoped companies like InterOil, Talisman, Horizon and Eaglewood Energy develop discovered resources “quickly without further delays within the next three years”.

Mr Duma also acknowledged that the government had an “abysmal” track record when it came to delivering on Memorandum of Agreements signed between the government and landowner groups.

To counter this, he said, there were plans to set up Expenditure Implementation Committees for each petroleum project to manage MoA funds as well as project implementation in these areas, an initiative that would be welcome news to the petroleum industry.

Mr Duma also announced that a Cabinet submission would be made in the New Year on the establishment of a Petroleum and Energy Authority that, he said, had been tailored to meet the requirements of both government and industry.

The government, he said, was concerned about companies that warehouse the license interests and would adopt a “use it or lose it” policy.

Industry leaders have indicated there have been minimal exchanges between government and industry on the proposed Petroleum and Energy Authority or the legislation that will be amended for the mining sector.

Prime Minister O’Neill, in reiterating plans for a wide-ranging review of the resource sector, inclusive of a corporate tax review, said this exercise was not just for “window dressing purposes…(as it) must be more than just very welcome contributors to the budget bottom line.

“They have to be imposed in a way that does not act as a significant disincentive to investment, and international competitiveness. We must have a modern and competitive resource tax regime,” O’Neill said.

Other key messages delivered by the PNG Prime Minister included a strong case that political stability will be further strengthened in the country; that he has begun in earnest the fight against corruption and that the government was committed to ensuring the continuation of strong economic growth.  

Quellle: Radio New Dawn in Bougainville
08.12.2012


PRESIDENT SEES THE FUTURE
By Aloysius Laukai

The ABG President says that Bougainville is ready to move into the development mode and no one will be left behind.
He told New Dawn FM last night that like the advent when Christians are preparing for the birth of Christ Bougainvilleans should also be preparing for referendum and start working towards what happens after the referendum.
The Chief said that all Bougainvilleans must work towards achieving this goal individually and in the end the collective work from all citizens will bring big results.
President Momis also called on others who are not contributing to the process to join the team be part of the winning team  

..........Ministerial Forum

http://www.investinaustralia.com/news/...ralia-ministerial-forum-12c3

.................18. The MINFOR welcomed the effort by PNG in strengthening relationship with the Autonomous Bougainville Government. Both Governments agree that Bougainville is an integral part of PNG, further agreeing that all external donor assistance to Bougainville should be done in consultation with relevant agencies, noting the core role of the Secretary’s Committee on Bougainville....................

http://asopa.typepad.com/asopa_people/2012/12/...pa-mining-story.html

Morumbi, Michael Aite & the Avaipa mining story

LEONARD FONG ROKA | Supported by the Jeff Febi Writing Fellowship

Lindsay SempleCANADA-BASED BUSINESSMAN Lindsay Semple (pictured) is no new face on Bougainville.

During the formative years of the Autonomous Bougainville Government (ABG) he was in the province with his own company, Invincible Resources.

This is when he created the controversial Bougainville Resources Development Corporation (BRDC) which would own 70% of the island’s resources.

But this time, he has come with a new face, Morumbi Resources Inc. But it’s not so new because it has the same people clearing the path for Lindsay Semple: former Bougainville Revolutionary Army leader, Sam Kauona, and PNG Highlander and PNGDF soldier turned businessman, Philip Dari.

The attraction for these opportunists goes back to Bougainville Copper Limited (BCL) days. Since the 1980s there had been a moratorium on exploration in Bougainville with the exception of the Special Mining Lease (SML) on which the mine is located.

As the crisis was erupting, the moratorium was extended over the whole island, and this has never been changed. So dangerous fools are now running after this opportunity, or perhaps mirage.

In the search for landowner approval, Sam Kauona and Philip Dari, have developed relationships and registered complicated landowner companies with the Isina, Kompani, Avaipa, Atamo, Kawasia, Karato and Korovi people.

Michael AiteIn the Avaipa area, Sam Kauona connected with Michael Aite (pictured). Aite had been a government community affairs officer since the 1970s and, by the time of the peace process, he and Sam Kauona were members of the Bougainville Peoples’ Congress (BPC) a political party led by the late President Joseph Kabui.

During the early days of the ABG - Invincible Resources relationship it was said that Lindsay Semple gave K20 million as a free gift to the people of Bougainville which was squandered within the perimeters of the BPC-controlled Bougainville administration.

But, to the surprise of the people, Morumbi Resources Inc is now running after this ‘free gift’.

According to most Avaipa people, Michael Aite and Sam Kauona have formalised many things about mining in the Mainoki section of Avaipa - specifically Mt Sugarloaf locally known as Katavi.

The pair covered a large area from Katavi to the head of the Asimana River in their potential mining block. This is the whole mountain backbone of the Crown Prince Range behind Avaipa and nearly the size of the Panguna special mining lease. The intention is that it be explored and mined by Morumbi Resources Inc.

Without formally meeting the people in June 2012, Sam Kauona and Michael Aite had some locals from Siuema village clear a jungle land patch for an exploration camp in the mountains of Siuema near the head of the Asimana River. This sent shockwaves across Avaipa.

Later on Lindsay Semple and Sam Kauona visited Siuema to formalise agreements for land use in the exploration area. According to informants, the visit was unheralded so errand boys were ordered to fetch the chiefs to sign documents they knew nothing about.

On the next visit (still in June) came Semple and the New Guinean, Philip Dari, to formally sign agreements to give the go-ahead for Avaipa exploration.

But to the surprise of the gathering, Lindsay Semple asked the meeting to sign an agreement he said was to do with assistance to agricultural development in the Avaipa area.

A row broke out but the people were calmed and the paper was signed in the belief this was an agricultural development assistance agreement. Locals claim they are yet to receive a copy.

Weeks after the signing the paper with Semple and Dari, the people were told what they had signed was an agreement for the exploration and mining of their mountains by Morumbi Resources, for which Aite was the agent on the ground.

Michael Aite’s committees were also surprised because they had been informed by Aite that they were working for an agriculture-oriented development project.

Aite was soon summoned to an all-Avaipa meeting in Paruparu to sort out the problem. The meeting was told the mining proposals by Morumbi were to reciprocate the K20 million given to Bougainville by Lindsay Semple.

According to Aite, his master Semple borrowed the K20 million from a Russian source as a loan and gave it to the ABG. Now the financier was running after the money and the government of Bougainville ought to repay it.

Since the ABG has no money, mining was the only way to help repay the loan as agreed by the ABG under the leadership of the late Joseph Kabui.

The gathering hit back, saying the K20 million, as all Bougainville knows, was said by Semple to be a ‘free gift’ to the people.

Aite was told he had no right ushering Semple, Dari and Kauona into Avaipa because he was not a chief.

There was no policy giving people like Aite and Kauona approval to drag foreigners into Bougainville.

To the people of Avaipa, where the late President was a citizen, Semple and Kauona are considered to be responsible for his death because of “their selfish hunger for money”. Many harsh words were said about them and Philip Dari.

Later Aite was asked: “Have you people compensated the late President Joseph Kabui for killing him?”

Aite said nothing but broke into tears as his nephew rushed into the meeting with a tomahawk to behead him, but was stopped.

The meeting told Aite not to invite “the three rascals” into Avaipa for, if he does, he will rot in the Crown Prince Range with Semple.

So far, the Morumbi Resources team has been absent from the Avaipa because of the threat.

The people will not soon offer a welcome to any operations by Morumbi.

ein riesiger Umsatz heute
(oder haben die es verpennt, dass die neue Woche heute mit dem Montag wieder begann???)
... und alle hübschen "Türmchens" so um die 64 Cent stehen ungefähr noch genau so da wie gestern Abend.