Bougainville Copper Ltd. / BOC (ASX)

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

Bougainville Copper Limited

2009 is seen as the most promising year in two decades for preparatory work leading to a possible re-commencement of operations at the Panguna minesite, owned and previously operated by Bougainville Copper Limited.

With copper reserves estimated at almost 3 million tonnes and gold production in the range of 400,000 ounces per annum, Panguna remains as potentially one of the world's largest producers of both metals. Unexplored neighbouring tenements are also very prospective, and will be explored when a moratorium on exploration is lifted.

Present market values for both copper and gold are significantly higher than at the time of mine closure in 1990, the political situation on the island has stabilised, and there is considerable appetite for development being expressed by the people of Bougainville . BCL is seen by many as the preferred operator of a re-started mine, and holds a very large bank of mine data. A comprehensive Order of Magnitude study was commissioned by BCL in 2008 (See separate item), and in January 2009, an invitation was issued by the incoming President of the Autonomous Bougainville Government Mr James Tanis for BCL management representatives to visit the island.

The Board has operated a comprehensive rolling plan with the vision of returning to active exploration and profitable mining in PNG. The main focus is on gaining resolution of a taxation issue, commencing the Bougainville Copper Agreement Review, preparation in the event the exploration moratorium is lifted, communication with stakeholders, and the completion of environmental studies and a mine asset stock take.

It is expected that the Bougainville Copper Agreement re-negotiations will be actively pursued in 2009 and make significant progress. If the main stakeholders are to gain mutual economic benefit from Bougainville 's mineral potential a proper framework needs to be put in place. Variations in copper and gold prices indicate that opportunities need to be taken up without undue delay

During the year more work will be undertaken evaluating the findings of the Order of Magnitude study, and preparing for the possible lifting of the moratorium on new exploration and mining. It is intended to identify targets within the company licences and how best to manage an exploration program. That may involve entering into an exploration agreement with others. Work will also continue to ensure that the extensive mine database the company holds is able to be utilised quickly and effectively if a return to mining at Panguna is agreed.

The PNG Mineral Resources Authority (MRA) is now in operation, to act as a statutory authority managing and regulating the industry. BCL works closely with MRA, and expects that the Authority will play an active and guiding role in facilitating the Bougainville Copper Agreement re-negotiation.

A communications plan has been developed. Now that circumstances on Bougainville have changed and exploration and mining are being openly debated, the company wishes to publicly project its position on key issues affecting it.

An important component in achieving the vision will be an environmental plan that is not only based on best practice but also meets the expectations of the local community. Work will continue to identify the key issues and solutions. Access to the mine site and surrounding areas of previous operations will be welcomed, to assist the environmental assessment and future planning. The company has made known to both the Autonomous Bougainville Government and the National Government of Papua New Guinea its willingness to conduct safety and environmental audits on the island as soon as access can be facilitated.

Existing mine assets have not until now been accessible to the company, and to understand the present value of these assets and the extent to which they may be used for future mining and exploration, access to the mine site is needed. For this BCL welcomes the support expressed by local landowners and will continue to work alongside them, and give practical assistance to the processes of reconciliation and social stability. BCL welcomes the growing consensus of landowner support for resumed exploration and mining, expressed in regular dialogue with landowner leaders.

Bougainville Copper Limited (BCL) is owned 53.58% by Rio Tinto Limited . The Papua New Guinea Government owns 19.06% while public shareholders hold the remaining 27.36% of the share capital. Since the previous withdrawal of employees from the island, a small management team has operated in Port Moresby . This team is incorporated into Rio Tinto Minerals (PNG) Limited ( RTM ), a wholly owned subsidiary of Rio Tinto Limited. BCL has a management service agreement with Rio Tinto . RTM performs this agreement on behalf of Rio Tinto .

http://www.bougainville-copper.eu/pageID_8665479.html

Anil Bakaya

http://www.rnzi.com/pages/news.php?op=read&id=27445

Posted at 22:07 on 12 October, 2006 UTC

The Panguna mine landowners on the autonomous Papua New Guinea province of Bougainville have been allocated money to hold reconciliation ceremonies.

The Post Courier newspaper reports this has been an outstanding issue that has held back a review into the Bougainville Copper Agreement.

Principal landowner Lawrence Daveona said the Bougainville Autonomous Government gave 35,000 US dollars for landowning families of the late Francis Ona to reconcile their differences.

He said it would also involve reconciling with the rest of the people of Bougainville through their elected representatives and to coordinate this reconciliation program the landowners have decided to set up a Landowner’s Reconciliation Committee.

http://www.ariva.de/Trading_Bougainville…_867948_t304728

Man kann sich ja mal wieder den Spaß machen auf Basis der aktuellen Marktpreise die Reserven je Aktie zu berechnen.

Bei insgesamt rund 400 mio. Aktien und 1 Mrd. t Reserven sind das 2,5 Tonnen je Aktie. Unterstellt man 0,33% Kupfer pro Tonne bzw. 0,37g Gold/Tonne so kommt man auf 8,25 kg Kupfer/Aktie b. 0,925g Gold/Aktie. Bei aktuellen Marktpreisen von USD 1019/Oz und USD 5920/Tonne kommt man auf USD 48,84/Aktie für Kupfer und USD 30,24/Aktie für Gold. Insgesamt macht das USD 79,08/Aktie oder EUR 53,64/Aktie.

Damit werden die Reserven an der Börse mit 0,6% bewertet. Als grobe Daumenregel werden im Markt üblicherweise 8% angesetzt. Das daraus resultierende Kurspotential – allein bis zum Abschluss der Neuverhandlungen über ein neues BCA - kann sich jeder selbst ausrechnen (Silber, Moly und 7 weitere Lizenzen unberücksichtigt).

Voraussetzung dafür ist, dass es wie von Coleman auf Buka angesprochen zu Neuverhandlungen kommt. Zumindest ist mit dem Besuch in Buka ein weiterer Meilenstein gemacht. Allein die Ankündigung der Neuverhandlungen sollte jedoch dafür gut sein, dass die Aktie zum Leben erweckt wird.

Wollen wir hoffen, dass der Weg dorthin mit dem Abschluss der Versöhnungsfeiern, Wahlen der Landwoner, offizieller Aufhebung der No-Go-Zone und dem JSB bis Jahresende bereitet ist.

http://www.bougainville-copper.eu/index.html

Denen würde ich keinen Cent geben !

...............scheinen in Deutschland zu sitzen ;-)))))))))))

http://feedjit.com/stats/bouga…map/?x=86&y=33&w=160&h=94

Country Page Views for Map Area:

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Germany [53%]

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Australia [9%]

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Switzerland [6%]

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France [4%]

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Thailand [3%]

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Spain [1%]

Obwohl von den am Freitag gestarteten Versöhnungsfeiern,an denen Präsident Tanis u. PNG Miningminister Puka Temu teilnehmen noch nicht das geringste den Weg in die lokalen Zeitungen gefunden hat (seit der Schliessung des Invincible Offices in Arawa gibt's dort kein i-net mehr) steigt die Anzahl der Käufer im Orderbuch rapide an.

Mit Abschluss der Reconciliations ende des Monats könnte für Bougainville (u. BOC) eine neue Zeitrechnung beginnen ;-))))

Das hat sogar schon jemand in Singapur erkannt ;-)))

are australians blind and deaf?

Rio Tinto’s subsidiary Bougainville Copper (BOC) shares are still strongly undervalued…

…even though Bougainville’s new president Tanis supports the re-opening of the giant Panguna mine!

…even though most of the Panguna landowners call on BCL to resume mining!

…even though former freedom fighters assure security!

…even though reconciliations are already on the way in Panguna and Arawa!

…even though American Deposit Receipt (ADR) emitting banks have to stock up until January 2010 because of short selling in the past! (they are approximately 40 million shares short!)

Never within in the last 20 years Bougainville Copper had been nearer to re-open the mine, but Australian investors ignore reality! In November 2007 the share price already soared and was three times the actual exchange price! So, why not today as well? Are Australian investors blind and deaf? Bougainville Copper is still lying in the ashes – but very soon will rise! By the way: Singaporeans are not blind and deaf!

http://www.c-r.org/our-work/ac…nville/reconciliation.php

It was about 3:00 in the morning, yet I could not sleep. This in itself was not unusual – there had been many nights in the past nine years that I had lain awake, waiting for the enemy to strike. But this time it was different. The next day we would reconcile with the Rabaram Villagers from the Moitaka care centre. They were my kinsmen and I had not seen them for many years. Thoughts raced through my mind. Who would be missing? Who would bear the scars of war? How would we all react?

At the set time we met. We had been enemies until a few days ago. We said a short prayer and then the signal was given to shake the hands of the long line of brothers, cousins and uncles. I scanned the line and saw my aunt. Next to her was her son, my cousin. I continued my gaze – where was my uncle? Suddenly I felt dizzy. I fought back the tears. The custom told me that I could not run to her. Instead she held out a stick for me to shake and croaked weakly. 'Nephew I have come home alone'. Then she looked away to hide her anguish from me. My heart ached.

There was no money, no feasting, no lengthy speeches, no media, and no neutral observers. Just us. It was a day of sorrow and forgiveness, of happiness and hope. Yes, it was the day of reconciliation and unity.

In our haste we put aside the traditional rituals of chewing betel nut. What mattered was what was in our hearts. No compensation was discussed. There were no big men with special chairs. We were all the same.........

Teil II

Reconciliation between opposing groups in the Bougainville conflict has been accomplished by a mix of modern and traditional processes. Understanding of how this was achieved requires a brief consideration of the nature of traditional conflicts and conflict resolution in our society. With this purpose I will focus firstly on aspects of reconciliation in my own Nagovisi community on the southwest of Bougainville island.

Conflicts could be inherited and passed down from one generation to the next. A conflict would usually start when one of the main parties felt that the actions of the other side – murder, trespass, adultery, theft or swearing – represented a threat or injury to them. This injury would be communicated to the other side, often by a neutral party. But it was common for others to become involved and this would elevate the matter into a full-blown conflict. These other parties could be relatives or dependents, or other groups with vested interests in the outcome of the conflict. In many cases the conflict would be fanned by 'talebearers' who fed false stories to either side. Because traditional conflicts involved so many groups, traditional reconciliation was thus achieved by involving the entire community.

The manner of the dispute settlement varied according to the seriousness of the offence. Let us take one example of reconciliation that involved a death. Firstly the parties would identify a neutral and respected person. Then, before the parties could talk, the offending party would give a cooling-down payment that was passed through the neutral person. This served as a token of trust and a demonstration of the willingness of the offending party to admit guilt and pay compensation. In most cases the parties would agree to meet at a neutral location. Women did not participate at this stage. It was feared that their grief would arouse the men's emotions and lead to fighting on the spot. Furthermore, as customary landowners in a largely matrilineal society, women were protected from involvement in major disputes. Instead a woman's feelings and ideas of solutions would be conveyed through other family members.

The next stage was the payment of the compensation. This took the form of either traditional currency or a combination of money and pigs, which was then distributed amongst the clan members. This was followed by a ritual feast. The exact nature of the practices varied from place to place but in Nagovisi, it entailed chewing betel nut, mustard and lime from the same gourd and eating from the same bowl.

This was also the day that the parties would first step on each other's territory. As part of the ceremony in some areas, the parties would plant tangget plants on stone. This symbolized their promise to forget the past and remain as silent as a stone. Anyone who violated this agreement would be cursed by the stone and any tale-bearer would be punished by its strength. To ensure the consolidation of peace, a vow was taken by both parties that confirmed their commitment to long-term peace. The parties would agree that the conflict would not continue into the next generation.

An important aspect of traditional reconciliation was the lack of attention to the identification of the guilty party. Rather, it started with the admission of guilt and the willingness to pay compensation by one side and openness of the other side to forgive and accept compensation. The underlying incentive to confess or forgive was the understanding that you could be in the very same situation as your opponent in a future conflict.

Reconciliation in modern Bougainville

The nature of modern conflict on Bougainville has been shaped by the political, economic, cultural, environmental and ethnic dimensions of a society that had experienced colonialism. This is a complex system of overlapping problems. Therefore to end the war in Bougainville, we were obliged to use more complex methods than those of our forefathers. The rituals are the same but the mechanisms needed to sustain the peace are multi-faceted. At the same time, Christian principles of reconciliation have conveniently found their place in the culture and have, indeed, added a great deal to the process, through the incorporation of prayers and public acknowledgments by priests and church ministers.

There were many dimensions to the ending of the conflict between Bougainvillean leaders. The traditional spiritual beliefs of our people provided the underlying principles of Osikaiang, Sipungeta and Me'ekamui. These principles guided the efforts of the war and later became the basis of reconciliation. The first step was for every Bougainvillean to recognize him or herself as 'Osikaiang' or 'indigenous', and to understand that the only way to live together is to reconcile and reunite. The process itself was 'Sipungeta'. It demanded that holiness, peace and reconciliation must start 'from the roots'. The process moves from one's inner self to the families, then to clans and later to the nation. The spirits of the dead must also be put to rest. If this can be done our homeland can truly be 'Me'ekamui' – a holy place where the creator dwells amongst His people.

Preparations to end the fighting

By 1995 the conflict had lasted eight years. The leaders knew that if the war continued beyond the year 2000 it would involve the next generation. Our tradition compelled us to make peace or run the risk of permanent warfare. Therefore a small band of elite was trained to carry out political education and reconciliation in the territories under BRA control. The small movement grew and soon it gained recognition. On 15 November 1996, BIG President, Francis Ona, decreed that a Ministry of Political Education and Reconciliation and Internal Affairs be formed and that I, James Tanis, would lead that Ministry. This marked our preparations for the end of war and my own efforts to prepare for this were now formally recognized. We quickly trained a small band of officers. We conducted a course with all the company commanders of the BRA at Doreinang on 17-18 December 1996.

Having no formal training in conflict resolution, we developed our own home-grown methods. We began by studying the situation, identifying the interest groups and the different cases within the conflict. We then formed a reconciliation committee that was divided into two or more groups depending on the number of the major cases. The other interest groups were isolated and worked on separately. We then re-established dialogue by becoming the neutral second channel of communication and facilitated one-to-one negotiations between the parties. Finally we would secure an agreement and have the reconciliation ceremonies.

We learned a great deal. We found that in some conflicts one big ceremony would cover all the cases, whereas others required several different ceremonies. The agreement to reconcile could come at any stage of the procedure. The best reconciliation processes were the ones initiated by the main parties. When this happened, the application of the procedure was not necessary. There were also cases when other interest groups made the first move to reconcile, leaving the primary parties exposed and with no choice but to reconcile. Through our handling of many cases, we saw these simple techniques work. Soon reconciliations were beginning to roll without the assistance of the working committees.

The year of reconciliations III

At provincial level our priority was to reconcile the division within our leadership. The major breakthrough occurred on 8 January 1997, when Francis Ona and Joseph Kabui reconciled with James Sinko, Francis Ona's former deputy at Paruparu.

By now the people were weary of the economic blockade and there was considerable pressure to end the war. In April, at a meeting of the Supreme National Council, we conveyed this information to President Ona. At the meeting we divided ourselves into three main groups. The first, led by President Ona, would continue to manage the military operations and the second, led by Vice President Kabui, would lead a delegation across the border to the Solomon Islands to seek international support. I was tasked to lead the third group, to mobilise and rally the people for Bougainvillean unity.

Perhaps the turning point for all of Bougainville came when the BRA captured the Regional Member for Bougainville, Honourable John Momis during the 1997 PNG National Elections and handed him over to President Ona. On 15 June, Ona and Momis had a short and emotional reconciliation. They made a radio broadcast, appealing to all Bougainvilleans to reconcile and reunite as they had done. After this, Momis was released and was free to run for elections for the PNG National Parliament.

In June we also negotiated reconciliation between Francis Ona and a group that was branded as a cult movement. Then it was a matter of reconciling the military groups. A small BRA patrol established contact with a small resistance patrol from the same village. They opened dialogue and agreed to meet again underground. The following week we reconciled with the paramount chief at the PNG Army Care Centre.

What seemed impossible had become possible. We had succeeded in punching a hole in the wall that divided our district. Now we had to smash it down. Open reconciliation between our people took place at Pisina on 23 July 1997. The pride and dignity of the leaders and the people of my district was restored. We all decided to name 1997 'The Year of Reconciliations'.

Reconciliation of political visions for the future

The reconciliation process had to be extended across Bougainville at the political level and required extensive negotiations between different Bougainvillean groups and then between the Bougainvillean leadership and the government of Papua New Guinea. The achievements marked by the Burnham Declaration needed consolidating. In the first meeting of the newly elected Bougainville People's Congress in Arawa, leaders worked to reconcile their differing views on the future of Bougainville. But further reconciliation was needed with those outside the process. A new coalition of former enemies finally agreed a common negotiating position that ultimately led to the Bougainville Peace Agreement of August 2001. Since then, there has been a renewed focus on the ground, ensuring continued reconciliation between individuals and groups so as to enable the restoration of peace and harmony on Bougainville.

However, the benefits of peace must reach the widows and orphans, not just the elite. The institutions that we establish under the Bougainville Autonomous Government must be designed to consolidate the reconciliation that has been achieved. Those institutions must address the different aspects of reconciliation that are outlined in the Agreement.

It was September 2001. Once again I found myself walking across hills and valleys to attend a reconciliation ceremony.

The enemy clans entered the church from opposite ends. The choir sang and the procession slowly advanced. The ceremony started as a simple Catholic service. The poster on the right side read 'the victims', and on the opposite side read 'the offenders'. In between them was a Crucifix with the words 'the Prince of Peace'.

They stood there for a while. Simon, a young ex-combatant, addressed the elderly chief on the other side. He said, 'Father I killed your son, I was defending the government of PNG and your son was defending his government too. I am sorry for what I did to you and I beg your forgiveness.' The elderly chief, looking calm and dignified, replied, 'I have forgiven you. Please son, I also beg your forgiveness because when I picked up my dead son, I saw not only bullets, but also a rock stuck in his mouth and I was struck dumb by my hatred of you. You see he was the first born son of my inexperienced days. Please release me from my hatred.' Then Simon replied again, 'Father, I thank you'. The two sides chewed betel together, then ate together from the same dish. When the time came for shaking hands, the two sides held each other and wept openly. These sides were descended from the same great grandmother. The singers hummed slowly 'Jesus, have pity on me'. They concluded the ceremony by planting a tangget tree on a stone.

When the time came for me to speak, tears were clouding my eyes. I joined them and said. 'Father I too beg forgiveness because during the conflict, we leaders gave you the vision and the confidence to walk the path we walked. And in doing so you lost your first born son.'

I turned to Simon and his family and continued, ' When you killed the BRA member, I cursed you and prayed that you must be killed. For that I beg your forgiveness too.' I walked down from the stage and stood amongst the people and shook their hands. I remembered my uncle, who never made it home.

http://www.postcourier.com.pg/20091020/tuhome.htm

Wer das Landowners-Statement "We want BCL back" gelesen hat weiss dass es sich hier nur noch um eine Frage der Zeit handelt bis die Pangunamine wiedereröffnet wird.Bei der Schliessung (1989) stand der BOC Kurs bei ca.7 AUD während der Kupferpreis um die 1000 USD/T stand.Ein Riesenpotential ist also hier vorhanden.

Public servants told to perform

By WINTERFORD TOREAS

PUBLIC servants in the Autonomous Region of Bougainville have been challenged to be prepared for any unseen activities that would result from the re-opening of the Panguna copper mine.
This challenged was issued by ABG President James Tanis when he officially opened a two-day workshop on leadership management in Arawa last Tuesday.
The workshop was attended by the executive managers and other senior public servants from central and south Bougainville.
Mr Tanis said public servants especially those in Arawa should be ready to tackle the situation if the Panguna landowners decided to re-open the mine.
He however maintained that any decision regarding the re-opening of the mine will be determined by the landowners themselves.
Mr Tanis emphasised that he does not want to be seen as dictating things to the landowners and other stakeholders.
He said the decision to invite the Bougainville Copper Limited (BCL) secretary Paul Coleman into the region about a fortnight ago was done not as a landowner, but as president and the political head of the region.
Mr Tanis said that all he wanted to do is to get the landowners, the National Government, BCL and CRA to discuss issues concerning the mine.
The president said the two issues that needed to be addressed regarding the mine’s re-opening are the landowners’ compensation demand and the future of the mine.

http://www.bougainville-copper.eu/pageID_7060841.html

Anmarsch der B'viller zu den Versöhnungsfeiern welche morgen beginnen.

Dem Photo nach zu urteilen scheint ja die halbe Insel auf den Beinen zu sein.Das ist auch verständlich denn erst mit dem Abschluss der Reconciliations ist der Bürgerkrieg abgeschlossen.

The people of Panguna today attended a traditional clenching ceremony in preparation for tomorrow’s reconciliation ceremony.

The traditional ritual was to remove blood stains from former fighters in the Bougainville crisis that killed about 20,000 people and left another 40,000 people homeless.

The Panguna event was the first of three reconciliation ceremonies scheduled for the area around the former minesite.

The reconciliation was between uncles of the late chief and Panguna landowner killed at the start of the Bougainville conflict.

Those who were clenched included fighters in the conflict, Mekamui soldiers, Bougainville revolutionary fighters and those who fought alongside the PNG Defence force, the resistance fighters.

After the ceremony, ABG President, James Tanis said the ritual had united the youths of Panguna and there should be no more factions in the area.

Audio Interview mit Präsident James Tanis

"Die Zukunft der Pangunamine und das Referendum über die Unabhängigkeit von PNG sind die zentralen Themen dieses Wahlkampfes"

http://www.radioaustralianews.…01003/2857236.htm?desktop

Nominations open in PNG for Bougainville election

Liam Fox, PNG correspondent

Last Updated: 15 hours 29 minutes ago

Nominations have opened in what could be the last elections on the Papua New Guinea island of Bougainville before a referendum on independence.

Writs have been issued for the autonomous Bougainville government's second elections since a peace agreement ended a decade-long civil war in 2001.

The agreement allowed for a referendum on independence from PNG to be held sometime in the next five years.

The current ABG president James Tanis is hoping to retain his position and says the referendum will be a major issue.

"The way the vote goes will give an early indication of how the referendum might shape up," he said.

The future of the derelict Panguna copper mine, which was at the heart of the civil conflict, is also expected to an important issue during the campaign.

Voting is due to start on May 7.

http://www.bougainville.typepad.com/

http://www.bougainville.typepad.com/

Mine must be re-opened say Panguna landowners

BY ALOYSIUS LAUKAI

The Chairman of the Panguna Landowners Association, Chris Damana, has accepted a presentation from the member for Kokoda in Central Bougainville who wants to fast-track the re-opening of the Panguna copper mine.

Mr Osioco presented two kina note to Mr Damana as a token of appreciation for his drive to open the copper mine quickly to support the ABG in its effort to raise enough revenue to run its affairs.

He said that the money symbolises that the two kina collected by mothers at the Arawa market could be raised to 200 kina if the mine is opened.

The presentation followed comments by Mr Damana supporting the re-opening of the mine. He said landowners had already decided to open the mine after negotiations with BCL and the national government is completed.

He said, without Panguna, Bougainville will struggle to raise enough funds to run the ABG.

He was speaking at the campaign rally organized by the New Bougainville Party in Arawa last Friday.

Wie siehst du die zukunft dort?
Also zuerst püolitisch und dann für die Mine.
Und soll man BOC kaufen?
Bei W.O. hört man so widersprüchliche Meinungen dazu, die mich total verunsichern.
Grüßle von der Laus

@Laus

Die Unterstützung der Bevölkerung für die Wiedereröffnung der Pangunamine wird immer grösser da die politische Independance von PNG ohne wirtschaftliche Autonomie ein Ding der Unmöglichkeit ist.

Hier der Ausblick von CEO Peter Taylor anlässlich der gestrigen HV

http://www.stocknessmonster.co…item?S=BOC&E=ASX&N=335550

http://www.thenational.com.pg/?q=node/8623

BCL opens talks on Panguna

BOUGAINVILLE Copper Limited (BCL) has proposed to commit US$3 billion (K8.2 billion) to return and reopen the abandoned Panguna mine in the Autonomous Region of Bougainville (ARB).
BCL chairman Peter Taylor yesterday announced the company’s intention to return and reopen the mine during its 43rd annual general meeting in Port Moresby with shareholders and landowners.
However, Mr Taylor told shareholders and landowners that it would need to be a fair and stable mining regime that gives investors the confidence needed to commit to a project that could cost billion.
He said the World Bank initiative aimed at helping Bougainville develop capacity to manage its mining sectors continue and there was a good chance the transfer of mining powers to ARB would occur this year.
“That is an important step because, as matters currently stand, there is an expectation of transition but not certainty,” Mr Taylor said.
He was hopeful that the new Bougainville mining regime would be largely consistent with the national model to assist with smooth transition from old regime to the new.
“If mining powers can be draw down by ARB without undue delay, BCL believes that Bougainville Copper Agreement while its terms are being renegotiated, can facilitate a return to Panguna and the early generation of benefits to stakeholders.”
Mr Taylor also disclosed studies indicated that there was in fact more gold, silver and copper in the ground at Panguna that had preciously been extracted.
He said though it was important to take the time to get the new mining regime right, it was also necessary for all parties to drive the process as hard as possible so current promising signs of world’s economic growth were not missed.
It is also learnt that there are stakeholders who are prepared to commit the K8.2 billion, including Rio Tinto as well as expanding share markets.

http://news.smh.com.au/breakin…reopen-20100514-v47f.html

Panguna is in the news again:

"Villagers who shut down an Australian-run gold and copper mine in PNG's autonomous region of Bougainville during a violent civil war now want to reopen the mine.

Bougainvilleans are now voting in their second general elections to decide who will prepare the tiny Pacific island for a promised 2015 referendum on full independence from Papua New Guinea.

The massive Panguna mine in central Bougainville was what sparked the bloody decade-long guerilla war that claimed an estimated 20,000 lives. The islanders now think their secessionist future might depend on the revenue it can generate.

"Panguna is owned by the Panguna landowners, but people from all over Bougainville have died over that mine, so culturally that mine is now owned by the people of Bougainville," he said.

"There has been a growing opinion, even coming from Panguna landowners, with a basic argument saying that the bottom line for people of Bougainville is independence.

"If this mine funded PNG independence (in 1975) then it can fund Bougainville autonomy and independence," he said.

Bougainville Copper Limited (BCL) executive Paul Coleman travelled to Bougainville last year for the first time since the mine's closure for talks with President Tanis in Buka.

BCL, which is owned 53 per cent by Rio Tinto and 19 per cent by the PNG government, reported millions of tonnes of gold and copper remained in the ground at the disused mine.

Panguna Landowners Association Chairman Chris Damana - an election hopeful - said mining at was once the world's largest gold and copper mine could resume only if there was a full review of conditions for locals.

"My platform for the election is for me to represent my people of Panguna and to reopen the mine," he said.

"We want to open the mine because Bougainville needs economic development in order for Bougainville to generate independence," he said.

"But there must be a full review of the agreement. Bougainville has to benefit, not just the mining company," he said.

"We are not divided as landowners. We just want to work out how reopening will be done," he said.

Another positive sign is that the Meekamui Defence Force (MDF), headed by self-appointed general Chris Uma, has lifted a heavily armed no-go zone around the Panguna mine.

General Uma, who controlled separatist militias throughout Bougainville's central and southern regions, has made an unprecedented move to support President Tanis in the current election.

Bougainville Copper (BOC.AU), Australia's 51st largest metals/mining company by market capitalisation, hit a 52-week high of 85.0c during the day. In the last three months the stock has hit a new 52-week high once. The stock price soared 18.50c (or 28.2%) to close at 84.0c. Compared with the All Ordinaries index, which fell 142.3 points (or 3.1%) on the day, this was a relative price change of 31.3%.

Price Change %
1-day
1-month
1-year

BOC
28.2%
58.5%
12%

Metals & Mining
-3.9%
-13.4%
23.9%

All Ordinaries
-3.1%
-10.1%
19.7%

17 May, 2010 16:00:00 AEST

TECHNICAL ANALYSIS

Significant Uptrend
Price volume trend: the price soared 33.3% in the last week and 58.5% in the last month. This has been propped up by firm volume of 1.9 times average for the week and 1.98 times average for the month.
Relativities: today its percentile rank in the Australian market was 100. In the Australian market of 1,406 stocks traded today, the stock has a 6-month relative strength of 90 which means it is outperforming 90% of the market. A price rise combined with a high relative strength is a bullish signal. Also, the relative strength percentile is rising at 90 for 6 months, 95 for 3 months and 99 for 1 month.
Moving average price (MAP): the price to 200-day MAP ratio is 1.45, a bullish indicator. The stock is trading above both its MAPs at 58.0c for the 200-day MAP and 54.0c for the 50-day MAP, another bullish indicator.
Breakout: the stock traded at year high of 85.0c today. The bulls are maintaining control with price open, high, low and close exceeding yesterday's levels.
Support: the support price is hovering at the 51.50c level. Volume traded at the support price zone was 2.7 times average during the two occasions when the support price was breached. In the last one month the first low was at 51.50c on Apr 20, the second decline halted at 51.50c on Apr 19.
Resistance: resistance is apparent at 85.0c. Volume was 6.6 times average during the single occasion when the resistance price was breached in the last one month. In the last one month the high was at 85.0c on May 17.

PRICE VOLUME DYNAMICS

Volatility: the stock traded between an intraday low of 68.0c and high of 85.0c. The price range has expanded in the last two days (from 10.0c two days ago to 20.0c today) which, accompanied by a price rise, is a bullish signal. Today its volatility of 25.0% was 6.7 times its average volatility of 3.7%. A price rise on high volatility is a bullish signal.
Volume and turnover period: there were 329,916 shares worth $245,632 traded. The volume was 6.6 times average trading of 50,268 shares. The turnover rate in the 12 months to date was 3.2%.
% Discount to high: the last price is at a discount of 1.2% to the 12-month high of 85.0c.
Volume weighted price (VWP): the price is at a premium of 34.1% to the 1-month volume weighted average price of 63.0c.
Beta is 1.3.

PRICE PERFORMANCE RANK IN INDICES AND SECTORS

The stock is in 2 indices and 3 sectors.
The stock's rise went against the trend set by the following index and sectors :
Metals/Mining sector of 474 stocks traded today, which was down 293.0 points or 3.9% to 7,167.1,
All Ordinaries index of 431 stocks traded today, which was down 142.3 points or 3.1% to 4,500.7,
Total Australian Market of 1,405 stocks traded today, which was down 100.7 points or 2.7% to 3,605.2

Percentile Rank
1-day
1-month
6-months

BOC
100
99
90

Metals & Mining
31
34
50

All Ordinaries
40
45
53

RELATIVE VALUATION INDICATORS [RVI] FUNDAMENTAL ANALYSIS

Bullish Signals:
- Return on Equity of 19.8% versus sector average of 15.9% and market average of 16.0%.
- Return on Assets of 18.0% versus sector average of 7.4% and market average of 6.3%.

RELATIVE VALUATION INDICATORS [RVI] TECHNICAL ANALYSIS

Bullish Signals:
- The price soared 33.3% in the last week and 58.5% in the last month.
- This has been propped up by firm volume of 1.9 times average for the week and 1.98 times average for the month.
- In the Australian market of 1,406 stocks traded today, the stock has a 6-month relative strength of 90 which means it is beating 90% of the market.
- A price rise combined with a high relative strength is a bullish signal.
- Also, the relative strength percentile is rising at 90 for 6 months, 95 for 3 months and 99 for 1 month.
- The stock is trading above both its MAPs at 58.0c for the 200-day MAP and 54.0c for the 50-day MAP.
- In the last three months the stock has hit a new 52-week high once.
Bearish Signals:
- The 50-day MAP of 54.0c is lower than the 200-day MAP of 58.0c.
- In the last three months the stock has hit a new 52-week low once.

SHAREHOLDER RETURNS

Trailing one week: the stock fell three times (60% of the time) and rose twice (40% of the time). The volume was 1.9 times average trading of 251,340 shares. The value of $1,000 invested a week ago is $1,412 [vs $975 for the All Ordinaries index], for a capital gain of $412(or rise of 41.2%).
Trailing one month: the stock fell eight times (40% of the time), rose eight times (40% of the time), was unchanged three times (15% of the time) and was untraded once (5% of the time). The volume was 1.98 times average trading of 1,105,896 shares. The value of $1,000 invested a month ago is $1,585 [vs $901 for the All Ordinaries index], for a capital gain of $585(or rise of 58.5%).
Trailing one year: the value of $1,000 invested one year ago is $1,120 [vs $1,256 for the All Ordinaries index], for a capital gain of $120. The total return to shareholders for 1 year is 12.0%.
Trailing five years: the value of $1,000 invested five years ago is $1,292, for a capital gain of $292.

PV$1000
1-month
1-year

BOC
$1,585
$1,120

Metals & Mining
$866
$1,252

All Ordinaries
$901
$1,256

FINANCIALS

Annual Report for the year ended December 31, 2009 (year-on-year comparisons with previous corresponding period)-
Favourable Changes: total revenue up 84.65% to PGK16.7m ($US5.4m); a track record of profits in 4 of the last 5 years; Working capital to total assets up 60.98% to 12.8%; total revenue to total assets up 50.68% to 0.04.
Unfavourable Changes: current ratio down 17.88% to 19.6.
Steady: total liabilities to total assets steady at 1.0.
Major Common Size Ratios: total non-current assets to total assets down from 91.7% to 86.51%; total current assets to total assets up from 8.3% to 13.49%; cash to total assets down from 0.3% to 0.11%.

[Blockierte Grafik: http://buysellsignals.net/BuyS…_368_PVDLineBar1month.jpg]

[Blockierte Grafik: http://buysellsignals.net/BuyS…_368_PVDLineBar5years.jpg]

[Blockierte Grafik: http://buysellsignals.net/BuyS…/md_momentum_week_368.jpg]

[Blockierte Grafik: http://buysellsignals.net/BuyS…md_momentum_Month_368.jpg]

1W 1M

Source:http://www.BuySellSignals.com

http://www.solomonstarnews.com…-reopen-bougainville-mine

Tuesday, 18 May 2010 11:47

.PANGUNA, Bougainville (ABC Radio)

– Pressure is growing to reopen a controversial copper mine on Bougainville in Papua New Guinea which was at the centre of the island's violent past.

The historical hatred islanders felt towards the Australian-owned Panguna mine appears to be waning.

That hatred sparked a bloody civil war but now many believe the mine should be reopened to fund Bougainville's long-held desire for independence from PNG.

ABC’s PNG correspondent Liam Fox travelled to Panguna to file this report.

LIAM FOX: It's an eerie feeling looking down into the giant hole that was one of the world's biggest copper mines deep in the Bougainville jungle.

Scores of dump trucks are rusting away in the massive pit at the Panguna mine. The rest of the mine site is a post-apocalyptic landscape of corroding equipment, decaying buildings and scavengers cutting up scrap metal.

This was the epicentre of the civil war that gripped the island during much of the 1990s and left thousands dead from fighting, disease and malnutrition.

It was sparked by local landowners angry at the environmental impact of the mine and what they felt was the unfair distribution of royalties.

The remnants of the Bougainville Revolutionary Army, now called the Mekamui Defence Force, closed off the area to most outsiders.

But things are changing. For the first time polling booths have been allowed into the mine site so villagers can vote in elections for the Autonomous Bougainville Government or ABG.

Even foreign election observers have been allowed through the roadblock at Morgan Junction, the start of the no-go zone.

At a polling booth in the village of New Dapera Noah Toko is contesting one of the three seats set aside for ex-combatants in Bougainville's Parliament.

NOAH TOKO: You can see that a school is there and the people are here. They are trying to build up their new houses. In the war, there was none. Everybody just spread into the bush. So now we are coming back. So this is the sign of that business going right.

LIAM FOX: James Tanis is the incumbent ABG President and is hoping to retain his position. He helped convince the Mekamui Defence Force to sign a memorandum of understanding to open up Panguna.

JAMES TANIS: This is a very important sign that the peace process is working. In fact this is the most important achievement in this - on this peace process.

LIAM FOX: But this new openness could be short-lived. Mekamui's self-styled General Chris Uma says he made the agreement to open Panguna with James Tanis himself not the ABG.

If Mr Tanis is not re-elected as President, he says Panguna will be closed to the world once again.

CHRIS UMA: With no James Tanis I just walk away.

LIAM FOX: General Uma is an intimidating figure, solidly built with jagged, red-stained teeth from years of chewing betel nut. He also says he won't be giving up his weapons anytime soon.

Despite his stance, many of Panguna's traditional landowners say they now want to see the mine reopened. Chris Damana is the chairman of the Panguna Landowners Association.

CHRIS DAMANA: To enable Bougainville to get its own money, find its own funds and to run its own affairs. And we don't want to open other new mines because it's already destroyed the land.

LIAM FOX: He says a resumption of mining would depend on a new agreement being struck with Panguna's Australian owner Bougainville Copper Limited or BCL.

CHRIS DAMANA: The things that we want BCL to look on is the unpaid monies owed to Panguna landowners.

Secondly, because we are not part and parcel of that Bougainville copper agreement we want to be part of the new review of Bougainville copper agreement.

LIAM FOX: Under the Bougainville Peace Agreement that ended the civil war a referendum on independence is due to be held in the next five to ten years. One of the preconditions for the referendum is the island's economic viability.

Despite its blood-soaked history a growing number of people here see a reopened Panguna as essential to funding the island's independence from PNG.