BOC 6.00% 47.0¢ bougainville copper limited

Buy BOC - if you have forever

  1. 3,185 Posts.
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    I am very disappointed with this stock.
    Awesome resource. ABG need Panguna to go ahead. Bougainvillian people need Panguna to restart. Copper and gold prices going ballistic. Every reason to buy and hold.
    Except...
    PNG is still in control. Politicians form ABG and PNG quoted in local newspapers that PNG will hand over its BOC shareholding to ABG by the end of May. Sure. Which year? Clearly it wasn't the year 2024. No reason published as yet. Why not?
    PNG politicians are mostly in favour of granting independence to Bougainville. Well, publicly they are. I doubt that PNG wants to give up Panguna mine nor to grant independence.
    I held BOC for a long time waiting for the wheels to get in motion. ABG cannot realistically progress Panguna until they get the BOC shares from PNG. This hasn't happened when it should have. Will it ever happen? Is PNG withholding doing so, in order to haggle for a different deal - where PNG gets a cut? Who knows with these PNG politicians. I don't trust them a bit.
    Anyway, the time frame is terrible. Best case is production will start in 2030. But that is the best case. Notwithstanding a Top Ten Mining company will have to be invited in, which will imo dilute BOC's share of future profits immensely. A Top Ten mining company will not take on a multi billion dollar low grade mine without guaranteeing a very decent profit for themselves. And as quoted in an earlier post from a speech by presumably a BOC spokesperson - an option is the do a small scale startup by high grading a section of the deposit. That is foolhardy imo and not investable to outsiders.
    I have lost money on BOC. At the current SP of 50 cents so have many others I would imagine. I do not have an investment timeframe of forever, so I am out!
 
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