Trading Bougainville Copper (ADRs) 867948
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Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.
See our latest analysis for Bougainville Copper
Bougainville Copper recorded just K4,008,000 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. It seems likely some shareholders believe that Bougainville Copper will find or develop a valuable new mine before too long.
As a general rule, if a company doesn't have much revenue, and it loses money, then it is a high risk investment. There is almost always a chance they will need to raise more capital, and their progress - and share price - will dictate how dilutive that is to current holders. While some companies like this go on to deliver on their plan, making good money for shareholders, many end in painful losses and eventual de-listing. Some Bougainville Copper investors have already had a taste of the sweet taste stocks like this can leave in the mouth, as they gain popularity and attract speculative capital.
Our data indicates that Bougainville Copper had K3.0m more in total liabilities than it had cash, when it last reported in June 2023. That makes it extremely high risk, in our view. So the fact that the stock is up 94% per year, over 5 years shows that high risks can lead to high rewards, sometimes. Investors must really like its potential. You can click on the image below to see (in greater detail) how Bougainville Copper's cash levels have changed over time.
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"early this year"
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JANUARY 17, 2024
Prime Minister James Marape and Bougainville President Ishmael Toroama have agreed to convene a Joint Supervisory Body Meeting early this year in Bougainville.
The two leaders met last week Friday in Port Moresby to discuss matters about the Ratification, Intergovernmental Funding arrangements, and other matters concerning the development and political future of Bougainville.
The President and Prime Minister were accompanied by the Bougainville Attorney General Ezekiel Masatt, Minister for Internal Security and Regional Member for Bougainville Peter Tsiamalili Jnr, Bougainville Affairs Minister Manasseh Makiba and the Minister for ICT and Member for South Bougainville Timothy Masiu.
On the matter of intergovernmental funding, President Toroama expressed to the Prime Minister that he was only interested in funding that was constitutionally guaranteed to Bougainville.
President Toroama made particular mention of the Restoration and Development Grant which is funding that is at the Bougainville government’s discretion and its outstanding arrears that were still owed to Bougainville.
The President told Prime Minister Marape that emphasis on intergovernmental funding for Bougainville should be on the Restoration and Development Grant and tax remittance from internal revenue as opposed to other funding that was outside of the ABG’s purview.
It has long been a tendency for Bougainville to receive only a fraction of its annual budget funds from the National Government annually despite the National Budget showing Bougainville having the largest budget out of all the provinces.
In 2023 the ABG Budget had a K100 million allocation for RDG funding and another K100 million for the Prime Minister’s annual K100 million Commitment for Bougainville.
In reality, Bougainville received only K28 million for the 2023 RDG (Funding that can be controlled by the ABG) in stark contrast to K50 million for the PM’s Commitment (funding that cannot be controlled by the ABG).
President Toroama told the Prime Minister that any funding for Bougainville that was being controlled by the National MP’s and state agencies should be catered for outside of the ABG’s Budget and procurement process.
He explained that this would give clarity on Bougainville’s actual funds that is supposed to be utilized by the National Government.
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Wer die PNG Business News verfolgt sieht, dass an vielen Stellen einiges auf einen guten Weg gebracht wird…
Ich bin da sehr zuversichtlich…!
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The first Oversight Committee (OC) meeting of 2024 will be held this week,
kicking off what will be an important year for the Panguna Mine Legacy Impact Assessment (PMLIA)
The fourth round of community dialogues, which is undertaken by local facilitators in impacted
communities to collect feedback and answer questions on the Impact Assessment will follow the OC
meeting in the coming months.
The OC meeting comes at an important juncture as the Impact Assessment nears a major milestone
with the results of the data collected during the three field campaigns, as part of Phase 1, planned
for presentation to impacted communities in mid-2024.
The PMLIA is an independent process established following a complaint from Bougainville
landowners against Rio Tinto and lodged by the Human Rights Law Centre with the OECD Australian
National Contact Point for Responsible Business Conduct in September 2020. The Complaint
concerns the impacts arising from previous mining operations at the Panguna mine site which
Bougainville Copper Limited, formerly majority-owned by Rio Tinto, used to operate.
The PMLIA process is not associated with the recent extension to the exploration licence granted to
Bougainville Copper Limited by the Autonomous Bougainville Government. The PMLIA will continue
with planned activities for 2024, including the presentation of results from the field campaigns to
communities and a final report detailing these results due this year.
Independent contractor Tetra Tech Coffey conducted these field campaigns which included
numerous site inspections by different technical experts and engagement with local communities. It
also included 425 household surveys and the collection of over 200 water samples from waterways
and drinking water sources, a collection of over 250 soil samples, and over 200 food samples. The
samples collected were sent to accredited laboratories in Australia for analysis.
Tetra Tech Coffey are spending the first half of the year analysing the data to form the Phase 1
report that identifies the impacts of the Panguna mine and the effects it has had on the surrounding
environment and the social and human rights impacts directly connected to the environmental
impacts.
Tetra Tech Coffey are scheduled to deliver a draft report to the Oversight Committee in mid-2024.
The results in the draft report will then be presented to impacted communities across select
locations to collect feedback on the findings and answer questions. Feedback will be collated from
communities, the Technical Sub-Committee and the Oversight Committee, who will review the
report and feedback and decide on the next steps. Recommendations will be made following this on
what impacts from the mine need to be addressed.
This will conclude Phase 1 of the Impact Assessment, the aim of which is to understand what the
impacts are from the Panguna Mine. Phase 2 of the Impact Assessment will look at how any
identified impacts should be remedied, and cannot be determined until after the final report has
been delivered to the Oversight Committee.
Martin Brash, the Independent Facilitator commented: “The Oversight Committee comes at an
important juncture as the Legacy Impact Assessment nears a major milestone with the findings of
the Phase 1 study due to be presented to the impacted communities by mid-year.
“The Parties to the complaint, Rio Tinto and the Human Rights Law Centre, wish to express their
appreciation to their colleagues in the OC from the Autonomous Bougainville Government, GoPNG,
Bougainville Copper Limited, and Community Leaders as well as to the OECD Australian National
Contact Point for Responsible Business Conduct (AusNCP) for their support and perseverance in
getting the Legacy Impact Assessment to the current stage and look forward to further constructive
discussions that will lay the foundation for long-term solutions for the impacted communities.”
The Legacy Impact Assessment is funded by the Panguna Legacy Assessment Company (PLAC) and is
an independent assessment of the environmental impacts caused by the mine, and the subsequent
social and human rights impacts directly connected to these environmental impacts. The Legacy
Impact Assessment is not connected to any agenda surrounding the mine re-opening or not re-
opening.
The Oversight Committee oversees the entire Panguna Mine Legacy Impact Assessment process and
includes representatives from the Autonomous Bougainville Government, the Independent State of
Papua New Guinea, landowners, clan and community leaders from the affected areas, the Human
Rights Law Centre, Rio Tinto and Bougainville Copper Limited.
ENDS
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