# BOC - Bougainville Copper



## canny (5 April 2005)

*BOC - What the!*

Something is driving it nuts - speeding ticket likely? They had one in January too. 
Anyone any ideas? Porper?


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## Porper (5 April 2005)

*Re: BOC - What the!*



			
				canny said:
			
		

> Something is driving it nuts - speeding ticket likely? They had one in January too.
> Anyone any ideas? Porper?




No idea whatsoever Canny, I don't even know what they do.It was purely my first attempt at picking a share through charting, which I know next to nothing about, so definately beginners luck.Damn, wish I'd bought some though.


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## canny (5 April 2005)

*Re: BOC - What the!*



			
				Porper said:
			
		

> No idea whatsoever Canny, I don't even know what they do.It was purely my first attempt at picking a share through charting, which I know next to nothing about, so definately beginners luck.Damn, wish I'd bought some though.




Can't believe you didn't own any!
You said you're in NEO and NMS - so that would really have topped it off! I said I liked it, but I wasn't on either, and now think it's too high to enter unless we get the news of whatever has driven it up.
Certainly a bit sus with no ann.
Well done on the charting pick though!


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## GreatPig (5 April 2005)

*Re: BOC - What the!*

Well my trading system picked it up on 16th March, and I added it to the portfolio then for 65 cents. It's now $1.35.

A pity I'm still only paper trading my mechanical system. 

Cheers,
GP


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## ghotib (5 April 2005)

*Re: BOC - What the!*

This is Bougainville Copper right? I saw some press that the current spike is driven by speculation and/or rumour that the mine will re-open. Haven't followed it up at all, but my feeling is that, even if re-opening is close, there'll be a long road from re-open to profitability and I'd expect traders to take profits and run real soon now. 

But I don't follow mining stocks so what do I know?

Ghoti (sounding more like an old codger every day)


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## RichKid (6 April 2005)

*Re: BOC - What the!*

Porper and a few of us have been following BOC as a charting exercise so if you want to do that (charting discussion for ed purposes) pay the thread a visit: https://www.aussiestockforums.com/forums/showthread.php?p=9830#post9830

We'll be checking out different charts from time to time if we have time. We're all beginners so it's a case of the blind leading the blind sometimes...


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## hector (18 October 2007)

BOC went for a run today - up 16c to close $1.15. No news or announcements and no clues from reading their annual report. Does anyone know what's up?


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## panem (1 November 2007)

hector said:


> BOC went for a run today - up 16c to close $1.15. No news or announcements and no clues from reading their annual report. Does anyone know what's up?




Germany is buying like HELL.

This stock is undergoing a massive talking at stock forums over there.


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## panem (1 November 2007)

THIS is going on in Europe:

(Let's say: Germany)

http://www.sturmpr.com/pageID_3389294.html

At this point I can not say, if this is a fraud, ramping or a honest group.

But those numbers named in the "analysis" are very strange...


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## hector (1 November 2007)

Thanks panem - I will double my profit target and hold for longer!

Are you as bullish on uranium stocks as you were 6 months ago?

Cheers

hector


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## So_Cynical (3 February 2008)

Quarterly report Dec07....Directors Report there has been no 
production since 5th May 1989.

Nice market cap for a company thats done nothing for almost 19 years. :sheep:

Market Cap:	340,903,125
Issued Shares:	401,062,500

52-wk High	1.9400
52-wk Low	0.7050


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## Judd (3 February 2008)

So_Cynical said:


> Quarterly report Dec07....Directors Report there has been no
> production since 5th May 1989.
> 
> Nice market cap for a company thats done nothing for almost 19 years. :sheep:
> ...






And why do you think it has a market capitilisation?  If I read the 2005 annual report correctly, it shifted all its cash to invest in Australian companies mainly through listed investment companies such as AFI and the like.  Hell, they need the dividends from those investments in order to pay the directors something and to write off previous losses!


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## So_Cynical (3 February 2008)

Got the info from here...

http://markets.smh.com.au/apps/qt/quote.ac?section=summary&sy=smh&code=BOC#tabs

Spose they must still have a cap...there listed and must be doing something???

Cant just sit around for 19 years collecting directors fees for a closed mine....can they?


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## Judd (3 February 2008)

So_Cynical said:


> Spose they must still have a cap...there listed and must be doing something???
> 
> Cant just sit around for 19 years collecting directors fees for a closed mine....can they?




Yep, they surely can.

And I got my information from here. 

http://www.bougainvillecopper.com.pg/

Their market cap is probably due to their investments of the cash that they held, not the value of the mine as they cannot get in there to do a proper evaluation of it.


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## kirtdog (29 December 2008)

any info on BOCs future??? are the mines going to reopen?? share prices are hitting almost a 4 year low.. may be the time to jump on board..


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## oldblue (29 December 2008)

kirtdog said:


> any info on BOCs future??? are the mines going to reopen?? share prices are hitting almost a 4 year low.. may be the time to jump on board..




I'd be wanting to see a much healthier copper price than currently before getting too excited.
It needs a convergence of favourable political factors and metal prices before anything happens, IMO.


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## kirtdog (30 December 2008)

up 13% today argh i hope it goes back down i nearly bought some yesterday...  just bounced to 25% to but will go back down...


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## oldblue (28 December 2010)

No posts for two years!

Looking rather more promising now!

http://www.theaustralian.com.au/bus...-and-copper-mine/story-e6frg8zx-1225976819323


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## nekro (18 July 2011)

Battle intensifies over Bougainville copper
 The Australian, 16.7.2011

www.bougainville-copper.eu

Claims that Rio Tinto funded the civil war and fostered atrocities on Bougainville are being resurrected as a hurdle to the reopening there of the copper mine, whose proven reserves are worth at least $50 billion.

Today the opposition to the mine is strongest overseas, especially among Australia's trade unions and non-government organisations. The Australian Greens have also joined the attacks. This is happening just as the reopening, after a full renegotiation of the terms, is winning overwhelming support on impoverished Bougainville; more than 97 per cent support it, according to Bougainville president John Momis.

The day after SBS One's Dateline program about Bougainville was broadcast on June 26, the Bougainville Copper Ltd share price slumped 18 per cent.

German investor Axel Sturm, possibly the company's largest individual shareholder, said "confidence in BCL, which is equated with confidence in Bougainville and its people, has been severely damaged. Months of re-polishing Bougainville's image [have] been spoiled within a few hours."

The program hinged on a 10-year-old affidavit signed while he was in opposition by Papua New Guinea's prime minister Michael Somare, whose family announced this week that he will retire because he is seriously ill in a Singapore hospital.
Somare, who was foreign minister as Bougainville lurched into civil war, signed the affidavit that claimed "the actions taken by PNG to reopen the mine were not done for any public benefit except derivatively as the money the government made in its joint venture with BCL would trickle down to benefit the PNG citizenry".

The mine provided the PNG government with about 20 per cent of its annual income when it was forced to close 22 years ago.

Somare signed the affidavit that said that Rio "controlled the government" of which he was a part. It said: "BCL was directly involved in the military operations on Bougainville, and it played an active part. It supplied helicopters, which were used as gunships, the pilots, troop transportation, fuel, and troop barracks. It knew bloodshed was likely to occur because it instructed the government of PNG to reopen the mine 'by whatever means necessary'."
It said that although BCL participated in "the atrocities", "no provision in the peace agreement addresses or resolves any civil liability or international law claim, which I understand are the issues in this litigation".

However, Rabbie Namaliu, the prime minister during the first four years of the conflict, told Inquirer that the Iroquois helicopters used by the PNG army were deployed under an agreement he signed with Australia's then-prime minister Bob Hawke in Canberra.
Nicole Allmann, now living in Queensland and who watched the SBS program, said: "The four Iroquois helicopters that were given to the PNG Defence Force by Australia were operated, maintained and crewed by Heli Bougainville for the PNGDF. "I worked for Heli Bougainville during the crisis and did all of the invoicing. I invoiced the PNG Defence Force for this and not BCL."
Namaliu said that "under the state of emergency laws, the controller can command access to any logistics support he requires".

By the time the government deployed troops, BCL's staff had left Bougainville leaving vehicles behind, some of which were commandeered. "To suggest that Rio did it deliberately is factually wrong. When I heard about those claims, I thought the whole thing was rather unfair. And Sir Michael is not in a position to make any response."

But after the SBS program Western Australian Greens Senator Scott Ludlam demanded: "Rio Tinto must reveal the full extent of its involvement in the Bougainville war. And the Australian government must also explain its own role, and what it knew about the role of BCL. It's time for the whole truth behind it to be known."
Ludlam claimed that the war drove half of the population from their homes, and that "the conflict claimed 15,000 lives". This total remains guesswork, although many did die who would have survived sickness before the war. Many additional deaths also occurred on mainland PNG because of the impact on health care of the sudden loss of government income.

A report in Socialist Alternative earlier this year said "it is a sign of the madness of capitalism that Rio Tinto did not close down BCL". The publication praised union efforts at the Rio Tinto annual meeting in Melbourne last year to oppose the mine's reopening. The union members included "a delegation of miners from Hunter Valley, maritime workers from the Victorian branch of the MUA", and the CFMEU (Mining and Energy section). It said that "if you wondered why socialists say Australia is the major imperialist power in this region, here's your answer", the Bougainville conflict.

The BCL executive chairman Peter Taylor, who is also now president of the Australia PNG Business Council, denied the allegations made in the affidavit signed by Somare. He recently led a business delegation to Bougainville, in what was the first visit to the island by a BCL chairman for more than 20 years.

Somare's affidavit is being used in a class action initiated a decade ago in California, being conducted by the famous contingency fee lawyer Steve Berman. This action, another barrier to reopening the mine, has already been struck out once, but has been reintroduced because it has become a crucial test case for the extraterritorial reach of US courts.
Its original US connection was that it was backed by Alexis Holyweek Sarei, a former Catholic priest and diplomat who married an American former nun, Claire. He said that if he returned to PNG from California, where he was living, he risked "grave harm". But he did return, and a year ago was elected to the Bougainville parliament, which strongly backs the reopening. He is one of the 20 people named in the action.

Lawrence Daveona, an executive member of the Panguna Landowners Association that represents the people who own the mine site, has declared the association's full support of the moves to renegotiate the Bougainville Copper Agreement, and its opposition to the court case. The case, which accuses Rio Tinto -- 53.58 per cent owner of BCL, with 19.06 per cent owned by the PNG government and 27.36 per cent by other shareholders -- of war crimes, was set up by US lawyer Paul Stocker, now 87, a friend of Somare who once lived in PNG.

Stocker has said: "I can't think of anything (Rio) did that wouldn't make Adolf Hitler happy." The case claims Bougainvilleans who worked for the mine, "all of whom were black", operated in "slave-like" conditions.

Mekere Morauta, PNG prime minister when the class action was filed, said at the time that even if successful if would not be enforceable in PNG because of the Compensation Act there.

Bougainvilleans will vote within four years on whether they want to split from PNG. This heightens the stakes for the reopening of the mine, with Bougainville wishing to secure the lion's share of the revenues, and also possibly some or all of PNG's equity.

The determination of BCL to reopen the mine itself, underlined by chairman Taylor, creates a formidable obstacle to potential competitors. China is the likely buyer of most of the mine product, and Chinese interests have been associated with Bougainville. Momis was formerly PNG's ambassador to China.


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## nekro (7 September 2011)

06.09.2011
Source: ESBC Research / Bloomberg

www.Bougainville-copper.eu

Rio Tinto's Palabora Sell-Off Inspires Investors Worldwide!



Rio Tinto's unexpected sale of its asset Palabora Mining Co. (South Africa) seems having fired investor fantasies in Bougainville Copper Limited (BCL). BCL shares soared 10 percent today in Sydney and even 17 percent in Francfurt at 11am local time. Bougainville Copper's fair value is AUD 30 to AUD 40 per share once the Panguna mine is re-opened.



Palabora is producing 80,000 metric tonnes of copper. BCL will produce 510.25 M pounds of copper or 232,000 metric tonnes of copper plus 631,000 ounces of gold worth some USD1.2 billion, silver plus molybdenum. Palabora has a known mile life of 5 years; BCL has 14 years. Palabora is worth USD700 million. BCL is worth some USD400 million.



In so far Bougainville Copper Limitied is actually an extremely undervalued, solid and promising investment !







Rio, Anglo Aim to Sell $700 Million Holding in Copper Producer Palabora
By Jesse Riseborough and Jana Marais



Sep 5, 2011 Rio Tinto Group and Anglo American Plc (AAL), which together own about three-quarters of Palabora Mining Co., said they plan to sell their entire holdings in the South African miner as it no longer fits their investment objectives.


Palabora’s main asset, a mine that produces copper and magnetite, “is no longer of a sufficient scale” for either Rio or Anglo, and a sale process for their stakes has started, the companies said today. Rio holds about 58 percent of Palabora and London-based Anglo almost 17 percent. Their combined holding is valued at about $700 million based on the closing price of Palabora stock in Johannesburg trading today.

The Palabora operation accounted for 8 percent of Rio’s mined copper output in the first half of this year, according to Liberum Capital Ltd. The Phalaborwa, Limpopo province-based company is South Africa’s only producer of refined copper, with output of about 80,000 metric tons annually.

Mining is scheduled to end at Palabora’s operation in early 2016, while a study to extend the mine’s life to 2030 is under way, Rio said. The company, which has been an investor since Palabora Mining was incorporated in 1956, declined to estimate the cost of prolonging the production period, in an e-mailed response to queries.

“Rio Tinto is no longer the natural owner of Palabora due to the limited opportunity to significantly expand copper mining,” Andrew Harding, chief executive officer of Rio’s copper unit, said in a statement.

‘Solid Future’
“We believe Palabora has a solid future under an owner who can develop the magnetite business alongside the existing copper and vermiculite operations,” Harding said.

Palabora Mining’s copper smelter would need investment to ensure it complies with emissions legislation due in 2016. Rio declined to estimate the cost of this, in its e-mailed response to questions.

Palabora has advanced 44 percent in the last 12 months, giving it a market value of 6.74 billion rand ($945 million.) The stock declined 2.3 percent to close at 139.51 rand today. The balance of is shares are held by private investors.

Rio Tinto, the world’s second-largest mining company, fell 5.1 percent to 3,488.5 pence at the close of London trading today. Anglo American dropped 3.6 percent to 2,368.5 pence.

To contact the reporters on this story: Jesse Riseborough in London at jriseborough@bloomberg.net; Jana Marais in Johannesburg at jmarais@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net
.


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## nekro (7 February 2012)

*Panguna’s European shareholders upbeat*

http://www.bougainville-copper.eu/news-february-2012-1.html

07.02.2012

Source: Post-Courier

*Panguna’s European shareholders upbeat*

THE European shareholders of the Bougainville copper mine (ESBC) are predicting a high level share price this year despite “volatile markets”.

ESBC head Axel Sturm said yesterday in a statement this is because Bougainville and the PNG Government expect positive developments and good investment strategies all through the year.

“The real value of the Bougainville Copper share price can certainly be assessed in a more realistic way. This means that at the first sign of good news the stock will possibly hit the high levels from last year, or even surpass them,” Mr Sturm said. 

“Since January 2011 the share price of Bougainville copper has gone downhill. 

“Up until today the stock has lost about 75 percent of its worth and is currently quoted at a level not seen since the discontinuation of the ADR (American Deposit Receipt) programme. Australians were hit particularly hard. 

“Europeans, Americans and owners of Singapore Dollars were less affected because of the increasing strength of the Aussie dollar. The so-called euro crisis and the announcement of the huge debt burden of the United States have shaken the financial centers of the world to the bone. Contradictory messages about the future demand of copper in China and home-made political power plays in PNG have added to further volatile markets. 

“The 2012 has started with all imaginable negative factors already priced in; however, investors should not forget to include all positive developments of the recent months into their investment strategies.

He said the upcoming joint supervisory board meeting in Buka and the subsequent National Executive Council meeting in Arawa will also help to give additional attention to Bougainville. 

ABG President Momis has announced the impending visit to Panguna of a high-level delegation headed by Prime Minister Peter O’Neill. 

This also suggests that additional steps towards the reopening of the Panguna mine will be discussed and decided, Mr Sturm said.

“Presumably, in this context, the first official visit of John Momis to Panguna will also take place,” Mr Sturm said. “It can further be assumed that this will also mark the beginning of the review of the Bougainville Copper Agreement, as was announced by ABG Vice President, Patrick Nisira a few weeks ago. After years of deliberations, the Panguna landowners have drafted a ‘new deal’, one that is likely to accelerate the reopening of the mine. 

“Thereafter, representatives of Bougainville Copper probably make first visits in order to take stock of Panguna. Consequently, the opening of a Bougainville Copper representative office at Arawa would be on top of the agenda. As a logical conclusion from the above hard facts, the following can be summarised, the real value of the Bougainville share price can certainly be assessed in a more realistic way. 

“This means that at the first sign of good news the stock will possibly hit the high levels from last year, or even surpass them. 

From today’s perspective (AUD 0.74 on 02.03.2012) it appears that a doubling of the current price is a sure shot and a scenario of tripling or even quadrupling is not unrealistic.”

07.02.2012

Source: Post-Courier


*Bougainville hardliners to stand by O’Neill on his trip to Aropa*

FORMER BOUGAINVILLE hardliners want Prime Minister Peter O’Neill to be the first PNG leader to land at the Aropa Airport after its closure in 1989.

Mr O’Neill and his full Cabinet are expected in Arawa at the end of this month to convene the Joint Supervisory Body Meeting followed by the Cabinet (NEC) meeting. Solomon Islands Prime Minister Gordon Darcy Lilo is also expected to attend this first time ever high level meeting in Arawa with the PNG counterparts.

Sam Kauona, former renowned rebel commander and now businessman, has assured PNG Government, specifically Mr O’Neill and his deputy Belden Namah that security at the meeting would be 100 percent provided and that more than 100 former commanders of central and south stand ready to receive the Cabinet at the Aropa Airport later this month.

Prime Minister O’Neill yesterday welcomed the announcement by Mr Kauona and thanked the leaders of Bougainville for a possible way forward in the re-opening of the Aropa Airport. 

Mr O’Neill yesterday said that Prime Minister of Solomon Islands was also expected to attend the meeting.

He said that preparations for the meeting was already underway and the Government was ready to travel to Bougainville to further show his government’s commitment for the region. 

Mr O’Neill said that despite the country now going through disasters Bougainville still stands as one of the major agendas for his government.

ABG president John Momis could not be reached for comment as he is in Lae.


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## nekro (27 February 2012)

*Re: BOC  +22,5%*

JSB & NEC Meetings about the reopening of the Panguna mine set 
probably the 23-25 March in Arawa


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## nekro (27 February 2012)

There is a JSB meeting and NEC meeting scheduled about March 23-25 for the first time in 22 years in Arawa

The focus in the next three weeks needs to be to make the JSB and NEC meeting in Arawa a historic meeting which will go down in history as something in which Mr Momis and Mr Peter O'Neill were able to build the road map to prosperity for Bougainville.  This fact needs to be communicated by as many people as possible to both the leaders [bottom up approach of communicating to leadership]. Let them seize that opportunity and do everything possible in the next 3 weeks to make that vision a reality.


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## nekro (27 February 2012)

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


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## nekro (28 February 2012)

ESBC Press Release

http://www.bougainville-copper.eu/news-february-2012-2.html


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## nekro (7 May 2012)

*Re: BOC - Bougainvilleans take rights over resources*

07.05.2012

Source: Post-Courier


Bougainvilleans take rights over resources

By PETERSON TSERAHA


BOUGAINVILLE has once again created history by taking ownership of their natural resources.

Five resource owner companies; Isina Resources Holdings, Pakasiapan Resources Ltd, Avaipa Resources Ltd, Baunapa Resources Ltd and Eruupia Resources Ltd have all signed Partnership Agreements with Morumbi Resources of Canada with a 15 percent carried interest.

Vice Chairman of Isina Resources Holdings and former Bougainville Revolutionary Army General Sam Kauona took time to explain how it will work in Bougainville so foreign investors could understand.

"Morumbi Resources of Canada is my partner and they are registered on the Toronto stock Exchange,” he said.

Isina Resources Holdings and the other four Landowner Companies behind Morumbi have to make everything condusive for investors to have faith in Morumbi Resources on the public market on its PNG and Bougainville operations.

“The proceeds of the market will be used for exploration and other social impact projects on the island.”

Once we get our Exploration Licences, each Landowner company will be given additional shares"." Morumbi Resources is our Partner but we become shareholders in our partnership", Mr Kauna said.

He said the Bougainville Government will adopt and honour the current Moratorium on the Island for the best interest of Bougainville people.

“Section 23 of our Constitution gives us the ultimate rights of resources ownership and the resource owner company will be the only company that will apply for exploration licence". Mr Kauona said.

The former BRA General stated that, the landowner owner companies will decide who their foreign partner will be and the moratorium will only be lifted in respective areas where resource owner companies decide to do exploration in their areas.

Isina Resource Holdings limited have already registered its exploration activity with the Autonomous Bougainville Governnment (ABG) two months ago,and are waiting for their exploration license. There will be a paradaa, (lifting of local moratorium) at the end of this month in Isina area and exploration will start.

Three other resource owner companies are working on their exploration registration papers and will submit to the Bougainville Mining Department by the end of this month. They too will lift their moratorium on their time and call. The ABG has to have it's tax policies and legislation in place.

Link Provided: www.bougainville-copper.eu/news-may-2012-2.html


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## nekro (23 July 2012)

*RIO-BOC*

A big opportunity for First-Moovers -)))

july 23, 2012 · 12:55 pm

Bougainville Landowners speak out on latest moves with Rio Tinto mine

http://ramumine.wordpress.com/2012/...peak-out-on-latest-moves-with-rio-tinto-mine/


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## nekro (20 August 2012)

http://www.businessday.com.au/business/miners-tap-resources-the-melanesian-way-20120817-24dry.html

August 18, 2012

Brian Robins

Exploiting PNG's mineral wealth takes long negotiation and the full co-operation of the local landowners, writes Brian Robins.

For long-time expat Australian Lindsay Semple, who has been kicking around Bougainville for a few years now, it was the deal of a lifetime.

Semple had allegedly paid 20 million kina ($9 million) to the Autonomous Bougainville President, Joseph Kabui, to win exploration access to 70 per cent of Bougainville, but Kabui's death in 2008 derailed this.

Recently, Semple claims he cut another deal with the Autonomous Bougainville government, which he has backed into a Canadian-listed minnow, Morumbi Resources, where he has been appointed the executive. But the Bougainville government says otherwise.

Welcome to the world of doing business in Papua New Guinea, where fact and fiction can sometimes seem to merge.

Notwithstanding Semple's manoeuvring on Bougainville, Bougainville Copper has been making solid, if quiet, progress to resurrect its long-idled Panguna copper mine, while across the country work is moving ahead on the Mount Kare gold deposit.

Ring a bell? It was found by CRA, a Rio Tinto forerunner, in the late 1980s when the then exploration manager discovered a gold nugget while digging the toilet for an exploration camp in the highlands. That find triggered a gold rush by the local villagers in early 1988, which ultimately forced CRA to abandon the area as the locals ran riot.

Exploration work has proceeded in fits and starts since and, while there is little doubt about the economics of the gold deposit, the key is winning - and sustaining - the support of warring local villagers for a mine.

There is an unusual symbiosis between Mount Kare and the Bougainville copper mine, since it was also in 1988 that Bougainville Copper, which is also controlled by Rio, suffered the first of a series of explosions that led to the closure of what was then one of the largest copper mines in the world. Those explosions, of the power pylons leading to the mine, were the start of the insurrection that led to the mine closure by mid-1989.

For Stephen Promnitz, formerly with Kingsgate Consolidated and who now runs Indochine Mining, which is trying to develop the Mount Kare deposit, PNG presents few new challenges since he cut his teeth as a geologist at Mount Kare. ''With the newly elected government, PNG is in a de-risking phase,'' Promnitz said of the political risk in the country, after the recent changes in Port Moresby.

Indochine is finalising its pre-feasibility study for a prospective $120 to $150 million mine project and has hired a Melanesian Fijian, George Niumataiwalu, to help win over local landowners. He is credited with taking the Hidden Valley resource to a completed project for its owners, Harmony and Newcrest Mining.

At Mount Kare, a 1.8 million ounce resource grading an average 1.9 grams of gold a tonne, including a 700,000 high grade zone at 3.7 grams a tonne, developing a modest-sized mine producing 100,000 to 150,000 ounces a year over an initial seven- to eight-year mine life would appear straightforward. With any luck, it will be the first step in a larger operation.

As Niumataiwalu has put it when talking to the Mount Kare landowners of the present gold resource: ''We don't know if we have the ear, the leg or the hindquarters, but we are looking for a big pig.''

Niumataiwalu is keen to pursue the ''Melanesian way'' with any development of the Mount Kare resource - working with local villagers to ensure they are supportive as the mine plans proceed - to try and avoid any last minute surprises that could derail the project and stall it for another 25 years.

The Melanesian way is also getting a workout with Semple for his plans on Bougainville where, for Rio Tinto, a resumption of mining may not be simple, since opposition remains deeply entrenched in some quarters.

Last month, senior managers at Bougainville Copper met landowner groups with a stake in the Panguna mine area for a further round of meetings, and they remain optimistic of winning and maintaining broad support for a resumption of operations.

At the same time, the Bougainville government is trying to corral all the landowner groups to sit at the table to cut a deal with Bougainville Copper, although it is far from clear what the position of Rio, with its dominant 70 per cent stake in the copper company, will be to any proposal to resume mining.

Work to redefine the size of the ore body as a precursor to any mine development work is under way, and last month the head of Rio's copper division, Jean-Sebastien Jacques, joined the Bougainville Copper board. But with an estimated $3 billion price tag, any progress in resuming mining will be slow and will need more than just the backing of the central government to get off the ground.

Bougainville Copper is saying nothing publicly at present as it waits for landowner groups to reach some unity with the Bougainville and central governments on a resumption of mining - a process that could happen quickly, or could be several months away, at best.

But the political risk to any large project on Bougainville cannot be underestimated since the Autonomous Bougainville Government still plans to hold a referendum on secession by 2020 which, if it were to proceed, would scuttle any prospects for a resumption of mining any time this decade, and beyond.


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## frugal.rock (17 December 2019)

So, the above has happened.
Referendum done and dusted.
Bougainville is set to be the newest country in the world.
PNG government will hand over it's share of Panguna mine back to the locals.
I heard reports of 3 billion yesterday to get it up and running again.
Up 100% in  one day.
ABC reporting 6 billion tonight.
There's a rumour that there going to change the spelling of the name of the country in memory of the previous miner's to 'Bogandills' 
Beware the machetes.
Heads will roll if the locals get poison leachate in their drinking water again. The adults could have known better, children suffered and died.
Irresponsible mining practices really piss me off.


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## frugal.rock (18 January 2021)

Forgot all about this....
Not sure why the price is moving?
5 & 10 year charts.


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## frugal.rock (13 February 2022)

Well hello.
A little past the 1 year anniversary.
Spotted this shortly after it paused trading at around 33% up.

Should've put a bloody alert on it now eh?!

From the please explain.

3. We have answered No to question 1 and provide the following: 

We understand the article published relates to resolutions passed during a Panguna landowner summit that was supported by the ABG. The landowners appear to have agreed to work cooperatively with the ABG to reopen the Panguna Mine.  
According to the article the resolutions were endorsed by the chiefs of the five major Panguna clans and the ABG will now work with landowners to facilitate a process towards reopening. 
If the article is a fair representation of the events, then this would appear to  
demonstrate unity amongst the landowners and, would also boost confidence in the Autonomous Region of Bougainville as it pursues economic independence.

BOC was not involved in the landowner summit nor was it referenced in the ABG  article. 
There is no change in the status of the shareholdings of the Autonomous  Bougainville Government (ABG) and Papua New Guinea Government (GovPNG)  shareholdings in BOC. The GovPNG’s commitment to transfer their shares to the  
ABG remains pending and both Governments continue to hold 36.4% each, of the shares in BOC. 

The Judicial Review of the ABG’s decision not to renew the Exploration licence over Panguna remains in process and we anticipate proceedings to commence in the first quarter of 2022.

I guess holders are feeling a little fuzzy wuzzy. 🤗

3 year chart


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## divs4ever (14 February 2022)

NOT to renew the exploration licence  ??

 wouldn't  that be just a hint of a dark cloud 

 ( i assume there is a limit to the resources  currently defined and mined )


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## greggles (21 December 2022)

BOC up 20% today and I have no idea why. Someone is nibbling away and there doesn't seem to be many sellers at these levels.

After reading a few announcements there doesn't seem to be much going on with this company apart from their attempts to get the Bougainville Copper mine in PNG re-opened.






No idea what is going on here. It's more interesting to watch paint dry to be honest.


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## Garpal Gumnut (21 December 2022)

Aren't the chappies in Boganvil in bed with the Chinese cousins. 

Perhaps the buying is not such a surprise. 

gg


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## greggles (21 December 2022)

Garpal Gumnut said:


> Aren't the chappies in Boganvil in bed with the Chinese cousins.
> 
> Perhaps the buying is not such a surprise.
> 
> gg




China wants all the goodies beneath the surface of Bougainville Island, but the locals aren't having it. I don't blame them. You can't trust authoritarian governments. If they treat their own people like cattle, how do you think they will treat non-Chinese? If they pollute their own country, they will do much worse to yours.









						China had invested a lot in Bougainville Island, but the island is shutting its door for it
					

Many villages on Malaita had developed strong ties with Taipei, and often expressed displeasure with the island’s embracement of China.




					tfiglobalnews.com


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