I encourage all BCL investors to read this impressive Open Letter in the link below. Not only because it is extremely important, but more because it perfectly shows what a sad person President Momis has become. He has completely lost touch with his own people and wants to push through his draft mining policy that is full of hidden agenda's and personal interest.
A lot happened this past week on Bougainville and I can assure you that this Open Letter was just part of it. It now appears that Momis doesn't even have the full support from his own cabinet ministers anymore.
Despite his frequent media appearances the majority of the people and members of Parliament don't want to follow his model, but instead the model described in the Open Letter. This is why his draft mining policy will not be put up for vote in Parliament now.
This is a remarkable U-Turn and to me it shows Momis has lost this battle. The mining policy will be completely re-written and pass Parliament in June.
The implications will be enormous. Several mining licenses will be granted within months and the island can finally seize the opportunity and develop its world class resources. How this will impact a re-opening of Panguna I don't know.
Momis does not want to be remembered as a stubborn fool, so he will have to do what is best for the island and its people. After that, the old and sick President can finally retire peacefully......
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