Trading Bougainville Copper (ADRs) 867948

... is its mining data, which Momis agrees would be ‘useless if we took away the exploration licence’.

Da wir momentan bei einem Kurs sind der den Beteiligungen und Cash in etwa entsprechen,
sollte also Momis zufolge zumindest ein doppelt so hoher Kurs gerechtfertigt sein!

 

....bzgl. des initiierten Aktientransfers kann es eigentlich keine einsame Entscheidung durch den Präsi. geben. Sein Wort hat Gewicht aber andere haben auch ein gewichtiges Wort  mitzureden.
Es ist vielleicht mal an der Zeit das die Politik der Wirtschaft hilft.

Nach allem was wir so in der Vergangenheit gelernt haben  erwarte ich eine Mehrheit für die Durchführung wie von PNG angedacht weil sie bei allem für und wieder die rational beste aller Möglichkeiten für Bougainville und das pro mining ist. :-)

 

Und Herr ONeill ist so freundlich und schließt sich gleich an, und beantwortet die Frage, die Ihn betraf. Vielen Dank dann auch.

O'Neill stresses benefits in PNG link for Bougainville

Papua New Guinea Prime Minister Peter O'Neill says Bougainville does not need independence but more government support to rebuild its infrastructure.

The National newspaper reports him telling parliament this week, during a debate reviewing the National Co-ordination Office of Bougainville Affairs, that his government is already helping the province's infrastructure.

Bougainville is due to hold a vote on possible independence in 2019 and the government has to tell the people they would be better off remaining as part of PNG.

He says the likelihood of a country with a population of 200,000 surviving is very limited because its economy may not be strong enough.

Mr O'Neill says this is what Bougainvilleans need to know and his government has to win their confidence by ensuring it does deliver.

He listed the services, in health and education, that his government is responsible for putting in place in recent years, and the infrastructure, such as road sealing, that it has done.

http://www.radionz.co.nz/international/...n-png-link-for-bougainville
 

Ein Witz. Bei 1€ kaufen alle wie wild und jetzt wo es politisch ans Eingemachte geht, kauft in Deutschland kaum jemand. Für nur 13000€ bekommt man jetzt 130.000 Aktien.
Die Masse kauft erst wieder, wenn der Kurs wieder bei 0,30-0,50 steht.
War ja den gesamten Minen im Frühjahr 2016 auch so.  

.. will have their share diluted—particularly the 17 per cent if it goes to landowners.
‘The landowners (oder dann shareholder) may end up with nothing.

Also ich verstehe die Argumentation von Momis nicht:

Klar, ein Investor will Anteile. Dies führt aber auch am Anteil vom ABG zur Verwässerung.
Ob nun mit oder ohne die 17 Prozent der Landowners. Oder denkt Momis die Anteile
vom ABG werden nicht verwässert ?
Wenn diese 17Prozent nachher nichts mehr Wert sind, dann seine 36Prozent auch nicht
mehr und seine 53Prozent ebenso nicht.
Momis will anscheinend die Mehrheit behalten, der Investor soll bezahlen und erhält
ebenfalls einen großen Anteil. Und die Kleinaktionäre werden enteignet oder was?

Also wollen nur mal hoffen, das PNG oder die LO die 17Prozent auf keinen Fall ans ABG geben.


 

Die meisten sind vermutlich eingedeckt, wie ich und warten auf den grossen Schlag.
Bei 1 Euro kaufen diejenigen, die bei 5o Cent verkauft haben.  

Alle warten und nicken dabei ein. Reiben sich ploetzlic h erstaunt die Augen, weil die Landowner das Anbebot eines Investors fuer 1 Euro, oder 2  Euro oder 3 Euro oder... angenommen haben.  

Man wird doch wohl noch träumen duerfen  

Hab grad von der mitaktionärin erfahren, dass es es morgen doch mit der vorgezogenen Eröffnungsfeier klappt. Wann geht's denn los?  

K.E durch X neue Aktien mit ausschluss des Bezugsrecht für Privat bzw Kleinaleger....passiert ständig und ist absolut legal.  

......falls die K.E mehr als 10% des G.K. beträgt müssen nach geltendem Gesetz (weltweit!!??) aber die Privatanleger mit Bezugsrecht an der K.E beteiligt werden......aber man kann es drehen und kehren wie man will....der "Gewinner" ist in der Regel nur der der auch neue Aktien zukauft bzw neuer Grossinvestor, wenn man nicht zukauft ist der verwässerungs Effekt nicht zu umgehen.......ausserdem!!! die A.G kann neue Aktien auf den Markt bringen....wir müssen per Bezugsrecht (falls vorhanden) zukaufen......aber die A.G. brauch ihre eigenen "neuen" Aktien nicht zu "kaufen" bzw zu zahlen.....deswegen ensteht auch für die A.G keinen "Schaden" nach der K.E.  

....für einen neuen Investorneue/neue Investoren ist Rechtssicherheit/Nachhaltigkeit und die Sicherheit das kein Kapital verbrannt wird Voraussetzung.Gar keine Frage. Dazu wird auf jedem Fall die Akzeptanz zum Vorhaben, der betroffenen Bevölkerung gebraucht. Auch keine Frage.
Dabei ist die Entscheidung PNG`s den Aktienanteil zu verteilen bestimmt eine gute Entscheidung.
Jetzt muß aber aufgepasst werden das hier an dieser Stelle kein neuer Ärger entsteht sonst würde doch diese Entscheidung wieder ad Absurdum und das mühsam zum laufen gebrachte Projekt  abgewürgt werden.
Was jetzt unbedingt nötig ist, ist doch  Vertrauen schaffen Versprechungen einhalten und das kann mit BCL auf der einen Seite noch am ehesten geschehen.

PNG muß seine Einnahmen stabilisieren bzw. erhöhen und zwar dringendst.
PNG hält bekanntlich noch seinen   Aktienanteil. Und dann noch das ABG.

Wie würden denn mit der Option Verwässerung nur diese zwei grossen Shareholder + Bougainvillian´s/ Landowner zurechtkommen ?? Ich habe da meine Zweifel.  

https://bougainvillenews.files.wordpress.com/2016/08/panguna.jpg  

........(b)call on Rio Tinto and Australien, and PNG gouvernements (responsible for approval of the establishing and the conditions under which the panguna mine operated) to contribute to a fund to meet the costs of dealing with panguna mine enviromental social and other impacts.........

....ist schon beruhigend das keine irrwitzigen Summen festgeschrieben wurden. Ich sehe hier wird doch eindeutig eine Brücke gebaut  über die alle gehen könnten (vorausgesetzt: wenn sie wollen) :-)  

Bougainville Mining News: Rio Tinto exit from Bougainville and Panguna landowners
by bougnews
Panguna



Until Rio Tinto announced its decision to exit Bougainville, extensive consultations over the past 6 years helped develop broad consensus amongst Panguna lease landowner communities, the wider Bougainville community, and the ABG on working towards re-opening the Panguna mine, with majority Rio Tinto owned BCL as the mine operator.

Significant new issues now arise because of the way that Rio Tinto has decided to exit Bougainville. This note deals with some key issues arising from:

Rio Tinto dividing its 53.8% equity between ABG (36.4%) and PNG (17.4%),
the Prime Minister announcing that the 17.4% PNG received from Rio should be transferred to ‘landowners and the people of Bougainville’, but retained by PNG until agreement on how it should be distributed;
Rio Tinto deciding it is not responsible in any way for Panguna legacy issues
Value of the Shares in BCL The only way the shares will ever have significant value is if three condition are met:

1) A new and technically qualified developer must agree to participate;

2) That developer must be able to provide the approximately K20 billion needed to re-open the mine;

3) The mine needs to be re-built and operate profitably. Because of the need for the K20 billion investment, the percentages of all existing shareholder will be diluted to very little if the mine re-opens.

In that case, the real value for landowners will not come from those existing shares, but instead from the guarantees in the Bougainville Mining Act for mine lease landowners to share in mine benefits through: free equity; royalties; and preference in employment and business opportunities.

What is Happening with the 17.4% Now Held by PNG?

Many major uncertainties exist here. In particular:

The NEC decision of 4th August only approved ‘in principle’ transfer ‘to the landowners and the People of Bougainville including the Panguna Mine landowners’. In Parliament on 18 August the Prime Minister is reported (in Post Courier, August 19) to have said that it is ‘up to the landowners, the people and the government to decide on the percentage allocations’. The PNG Government will continue to be ‘custodian’ until ‘landowners, the people and ABG resolve their differences’.

Determining a monetary value for the BCL shares is difficult. It can be measured in various ways. When PNG was considering buying the 53.8% from Rio, it was discussing a price of $100 million. Informal information suggests this was a reasonable valuation. However, Rio’s exit, its divesting of its shares in BCL, the growing uncertainty about ownership of the 17.4%, and the overall reduced certainty about the future of Panguna all makes the BCL shares less valuable.

The main value that exists in BCL involves:

1) money and securities (about K135 million, some of it already committed); 2) Panguna drilling and exploration data ‘translated’ by BCL into a modern mine planning program; 3) the exploration licence over the former Panguna SML area granted under the ABG Mining Act.



What is meant by ‘the landowners’ and ‘the Panguna Landowners’? how shares would be held by landowners (e.g. as individuals, as clan groups, as representative association), and how distribution/allocation between them will be decided.

Suggestions are being made that the 17.4% will be the compensation for legacy issues. Minister Lera has been reported to say the goal is for landowners to become millionaires.But the value of the shares is uncertain, and undoubtedly quite low, and it is very uncertain who the shares might be transferred to or when they might be transferred. Without the mine re-opening, there will be very little if any money from the shares for the landowners.Even more important is the fact that even if the shares are transferred, that will do nothing to meet the huge expense involved in dealing with environmental damage and the impacts experienced by relocated village communities.

Dealing with Environmental Damage and Impacts of Relocated Villages

In the seven weeks since Rio Tinto first advised the ABG of its decision to exit from Bougainville, the ABG has already initiated steps to get action and funding in relation to the terrible problems caused by the mine and by Rio Tinto failing to accept responsibility for the damage done. In particular, we have acted to:

At this stage, the ABG is aiming to see Rio Tinto, and the Australian and PNG Governments commit significant funds to a Trust Fund to meet the costs of action in relation to mine legacy issues.

Bougainville, and the mine-lease landowners, cannot wait to see if a new developer can be found, and the mine actually re-opens. The earliest possible action is needed in relation to issues such as chemical stock-piles, the breaches to the Tailings levy banks and the flooding of neighboring areas, the damage to the Kawerong and Jaba rivers, and the conditions in which relocated village communities live.

Can the 17.4% be a Basis for Compensation for Mine Legacy Issues?

So no one knows what proportion of the 17.4% shares would go where, and how long it would take, under the Prime Minister’s proposals.

create international awareness of injustice and breaches of human rights;
get high level advice about action taken, in relation to these problems; and
obtain legal advice about possible legal action against Rio Tinto.(a) Awareness: (b) High Level Advice:
The ABG has made direct approaches to numerous organisations seeking advice and assistance. They include:

Much more work is needed to create media awareness. But international awareness can also be contributed by other action and contacts.

Getting international community awareness of the issues involved is a first major step towards putting pressure on Rio Tinto.

After we supplied a senior Australian journalist with extensive information on the issues, he interviewed the President and wrote a major article published in the main Sunday newspapers in Sydney, Melbourne and Canberra on 21 August. Several stories appeared in The Australian newspaper after the Prime Minister’s announcement about transferring shares to landowners and the people   of Bougainville.

Numerous stories have been broadcast on Radio Australia and Radio NZ International. In July story was broadcast on Australian ABC TV news. The resident ABC journalist is planning a 4 day visit to Bougainville to develop a major television story for Australia. A journalist from The Australian newspaper is also planning a visit to Bougainville.

The United National Environment Program;

Human rights and corporate social responsibility monitoring organisations, including:
Human Rights Watch;
Amnesty International;
International Alert;

Shift (a US-based organization that monitors the UN Guiding Principles on Business and Human Rights);
Some NGOs and consultancy organisations that deal with corporate social responsibility and businesses and human rights;
The German-based Catholic Church development organization, Misereor, in relation to business and human rights issues (a focus of that organization).
Initial legal advice has been obtained from Professor James Otto (mining lawyer and mining economist who assisted the ABG develop its mining policy and mining law). A senior officer in Misereor with experience in corporate social responsibility and human rights has this week provided additional contacts with lawyers who work in this field in Germany and the United Kingdom, and these lawyers will be contacted in the coming days. The initial suggestions are that court action should be initiated, and the various options will be evaluated.



It includes dealing direct with groups of ethical investors with a view to persuading them to withdraw investment from Rio Tinto in protest at their treatment of Bougainville. The aim is to make Rio concerned that their share price will fall if they fail to act fairly in relation to Bougainville. Similarly, we have been advised to enter discussions with organisations that maintain indexes of corporate social responsibility and corporate performance in relation to human rights. Reduced ranking in such indexes can also result in share prices dropping.

We are still in the early stages of obtaining advice and sorting through the information and suggestions being received  

Sunday
28 August 2016
                
§

                    §
US officials in talks over Bougainville poll
Friday, 26 August 2016

UNITED States diplomatic officials visited Bougainville this week “to meet with partners of ongoing US government support in the region”.

Catherine Ebert-Gray, centre, rear, with Susan Brems meeting women leaders in Bougainville

The diplomats were Catherine Ebert-Gray (US ambassador to Papua New Guinea) and Dr Susan Brems, who is the US Agency for International Development for the Pacific Islands.

During their visit, Ebert-Gray and Brems met with representatives of the Autonomous Region of Bougainville Government and other official organisations to learn about ongoing preparations for the elections and the referendum.

The governments of PNG and the ABG recently agreed on a target date of June 15, 2019, for an independence referendum to determine the status of Bougainville, as set out in the Bougainville Peace Agreement.

“The US government and Papua New Guinea are strong partners in achieving sustainable and inclusive economic growth in the country. We are committed to working with the people of Bougainville to prepare for upcoming electoral events that are open, transparent and peaceful,” Ebert-Gray said.

To support these events, the US government, through USAID, launched the Peaceful and Inclusive Elections and Referendum (PIER) project in February 2015.

The PIER project, implemented in partnership with the International Foundation for Electoral Systems, is increasing awareness of, and supporting preparation for, electoral processes. USAID, through the PIER project, provides technical assistance and training to referendum and election administration officials, and promotes women’s participation in politics, decision-making bodies, and conflict mitigation.

Ebert-Gray and Brems also consulted with women leaders from civil society organisations. The women had participated in USAID-supported advocacy and communication training, and the meeting served as an opportunity for them to share how USAID can further support their contributions to reconciliation and peacebuilding.

At the meeting, Brems said: “Women are proven to be effective peacemakers, community leaders, and champions of civil and human rights. We continue to work with our partners to unlock the potential of women to inspire and lead development in their communities.”

While in PNG, Brems also led the signing of a new project assistance agreement between the US and PNG that grants $1.5 million from USAID to strengthen Papua New Guinea’s environmental resilience. The agreement is aligned with Papua New Guinea’s priorities to conserve biodiversity, improve its management of natural resources, and adapt to climate change

 

Jetzt langsam einsteigen ....geht wieder los.
38 Millionen Euro Cash +Bohrergebnisse+SMLease+Landowners geben ihre 17% ans ABG+ endgültiger Wille der finanziellen Unabhängigkeit

Panguna dispute: Bougainville threatens to cancel Bougainville Copper licence over mining row.

Eric Tlozek | ABC News | 31 August 2016

The Autonomous Region of Bougainville is engaged in a new struggle with the Papua New Guinean Government over the ownership of the island's controversial Panguna copper mine.

PNG's Prime Minister wants to give landowners on the island a minority shareholding in Bougainville Copper Limited (BCL), the company which operated the mine.

This would prevent the Bougainville Government from having a controlling share.

Bougainville's President has responded by threatening to cancel the Australian-listed company's exploration licence.

BCL holds the only exploration licence over the large copper deposits around the former Panguna mine, and also holds valuable drilling data that any company wanting to mine the area would need.

Bougainville's President John Momis said that would count for little if the PNG Government refused to hand over a controlling interest in the company.

"The ABG (Autonomous Bougainville Government) will have no option but to cancel Bougainville Copper Limited's licence, and when that happens, then you'll have a lose-lose deal," he said.

The PNG Government has long held 19 per cent of the BCL shares.

Mining giant Rio Tinto had 53 per cent, and recently decided to get rid of its interest.

It gave the Bougainville Government 36 per cent and the PNG Government an extra 17 per cent to give both parties an equal shareholding.

But on August 17, Papua New Guinea's Prime Minister Peter O'Neill announced the national Government would give the extra 17 per cent to unspecified landowners of the mine area.

"We have given our shares to the landowners," he said.

"The ABG will keep theirs, we will keep 19 per cent, [and] 17.4 per cent that was gifted to us by Rio Tinto will be now given to the landowners and the people of Bougainville."

The decision infuriated the Bougainville Government, which has passed its own Mining Act and taken responsibility for the complex negotiations with the various landowner groups and former combatants in the conflict.

Mr Momis said landowner groups were rejecting the Government's offer of share ownership because it would lead to further disputes.

"We've been dealing with them and their representatives unanimously resolved that 17 per cent should go to the ABG," he said.

'It's a political move': ABG Minister

Part of the peace agreement to end the Bougainville crisis was the promise of a referendum on Bougainville's independence, which is scheduled for 2019.

But many people in Bougainville think the province would need the revenue from a restarted Panguna mine if it was to secede.

Bougainville's Mining Minister Robin Wilson said the Prime Minister's handling of the shares could be designed to weaken the case for independence.

"I think it's a political move and I've been suspecting all along that there is this kind of thinking in the national Government that if Bougainvilleans take over Panguna mine on their own, it will boost their chances of getting independence," he said.

Bougainville's threat to cancel BCL's exploration licence would not just affect its own shareholding and the national Government's stake; 27 per cent of the shares are owned by smaller investors, and the decision would dramatically affect the value of their holding.

"We're quite aware of the sensitivities around the shareholding and the directors are continuing to act for the benefit of all the shareholders, including the minority shareholders," Mark Hitchcock, company secretary of BCL, said.

Mr Hitchcock said the company was talking to both governments and was waiting for more detail about their plans.

"There's still more to be known about just how that will work," he said.

"We're sort of still business as usual and getting the things done that need to be done now, including the transition from the Rio Tinto services agreement, which will make Bougainville Copper a truly independent PNG company."

There is still a large resource under the ground at Panguna, but the Bougainville Government estimates it will cost about $8 billion to restart the mine and provide the environmental management the site badly needs  

http://www.radionz.co.nz/international/...ille-prepare-for-referendum

http://www.radionz.co.nz/international/programmes/...-in-bougainville

Bougainville
Uma alleges breach of peace agreement

THE Me’ekamui hardliner Chris Uma has laid a formal complaint with the Bougainville Police Service to immediately arrest executives of the Me’ekamui Government of Unity and the Autonomous Bougainville Government officers for alleged breach of the Bougainville Peace Agreement.

Mr Uma, who is the chief of Panguna landowner clan where the Bougainville Copper Limited mine is located, claimed that the action of the Me’ekamui Government of Unity executives and ABG officers in openly discussing the re-opening of the Panguna mine and taking money from BCL have broken the principle of the accord.

“There is no provision in the Bougainville Peace Agreement that gives power to even Bougainville President John Momis to bring the Bougainville Copper Limited agenda forward unless for selfish motives by people around him,” Mr Uma said in a statement.

“I have laid an official complaint under the law for Bougainville Police Service to charge these people named and will also appeal to the Prime Minister to censor the action of President Momis and the Autonomous Bougainville Government,” Mr Uma said, adding that he wants to place on record that Me’ekamui remained under his leadership and their stand was distance itself from the Bougainville Government.

“There is no Me’ekamui Government of National Unity and we have no knowledge of such organisation,” Mr Uma said adding that any foreign company or government dealing with Philip Miriori, Moses Pipiro and the ABG officials should start legal action on their own as they are trying to take advantage of the suffering of Bougainville people.

Mr Uma said the future of the mine could not be debated or talked about and as principal landowner, he has not authorised or mandated the Bougainville Government or President Momis to discuss the mine issues, including BCL shares.

He said the Me’ekamui council of chiefs only recognised Prime Minister Peter O’Neill as a true leader of the people who recognised the suffering and hardships of the people of Bougainville.

Mr Uma warned all leaders and media to exercise responsibility by reporting transparently and unbiased news particularly on sensitive issues like BCL or Panguna Mine.

He said that Panguna mine remained closed indefinitely and road block remained. Any matter on the future will now be directed to his delegates Lawrence Daveona on phone 70090727 and John Jaintong on phone 71886293, he added

 

Die innerpolitischen Verhältnisse auf der Insel sind nach wie vor chaotisch. Solange nicht endlich eine echte Reconcelation mit den Landownern in Panguna stattfindet und die Machtverhältnisse geklärt sind, gibt es keine Fortschritte und kein Investor  legt gerne Geld in einem Krisengebiet an. Rio Tinto hat vor dieser Situation die Waffen gestreckt.
Der Vorschlag PNG Shares an die Landowner zu verteilen, war ein guter Schritt, die Lage zu entschärfen.
Jetzt erscheint es so, dass Momis von Compensation  nichts wissen will. Damit wurden wir wieder "zurueck auf Start" versetzt.  

......ja der Weg ist erfolgversprechend.

.....zurück auf Start versetzt.......?

Ich will Momis mal sehen wenn er durch blockieren taktieren und ausbremsen seine eigene Agenda bzgl. Referendum und echter Autonomie ins Abseits führt.
Von aussen betrachtet sieht das ganz stark nach einer gehörigen Portion Altersstarsinn aus.
Sollte diese Hypothese wirklich zutreffen wird  es nicht mehr lange so weitergehen können. ;-))
Schwer zu verstehen sind auch die vorgebrachten Argumente das nur eine Übertragung der shares an das ABG und eine Beteiligung der Bürger nur über  mining act .................

“The Act also guarantees landowners 5% equity (free carry) in the mining operating company. That will be worth much more than the PM’s 17.4% because re-opening will cost K20 billion, dramatically diluting all existing equity. Our Act guarantees a valuable share in the fully funded mine. The PNG 17.4% gives a small minority shareholding in a company now worth very little.

......der richtige Weg ist. Warum denn nicht beides z.Bsp.? wenn wir hier nur über Geld sprechen. ;-))

Der  tiefere Grund wird verschwiegen so scheint es.( oder ist es tatsächlich wieder nur Unfähigkeit auf Veränderungen zu reagieren??? ) 

 

 

Was steht denn da? Bei mir funzt der Link leider nicht...