Reviewing the latest developments on Bougainville and in PNG,...

Reviewing the latest developments on Bougainville and in PNG, chances that the next JSB meeting currently schedule for the 17th Oct will offer a breakthrough are better than ever.
In March 2012, PNG was in the middle of a crucial election campaign including the political crises hitting fever pitch in the political battle between O'Neill and Somare. Also, the chosen location for the previously planned JSB, Arawa, was a terrible choice given the lack of an adequate infrastructure, e.g. accomadations etc. The cancellation of the JSB back then was almost inevitable. Since then, the situation on the ground has dramatically changed to the better.

Today, O'Neil has one the election and is frmly at the helm of the PNG government. He expressed firm support on mining in general, has promised full support to the ABG government and has funded the Bougainville government with a long overdue 100mn Kina.

A permanent ABG office in POM responsible for future JSB meetings and the road to independence has opened. Delegations of various parties have visited Buka preparing this month´s JSB meeting.

For the first time in 23 years, a direct meeting between BCL and the Panguna landowners organisation has taken place in Buka, and locals have been commissioned to build on official BCL office in Arawa/Panguna.

The existing BCL leases have already been formally renewed by PM O´Neill.

BCL CEO Peter Taylor at this year´s AGM stated that BCL is "Ready to Go".

Reconciliation meetings between ABG president Momis and landowners have taken place and more reconciliations are ongoing.

There has been a meeting between O´Neill and GG Ian Kemish after his visit to Panguna.

Meekamui forces have offered support w.r.t. security issues in Southern Bougainville.

All 4 national MPs from Bougainville have expressed their desire and willingness to work closely together to represent Bougainville´s best interest in PNG and to ensure growth to the island.

The World Bank recently confirmed that Bougainville´s MRA has been successfully set up and that it is now fully operational.

In a major move, majority shareholder Rio Tinto has installed Jean-Sebastien Jacques to BCLs Board of Directors. Jacques is Rio Tinto´s most senior executive and head of its global copper division. He is proven expert in (re)starting new mine operations.

We strongly believe that the currently depressed share price is a result of price manipulations by JPM, who are most likely well short in BCL due to their former ADR program (in BCL shares). Since a small and short-lived increase in the share price proceeding the anticipated JSB meeting on March, the share price has fallen by roughly 30%. This, in our opinion, represents a great buying opportunity, with the next JSB meeting only days away. Chances for a major and long-lasting breakthrough have never been higher. Oct 17th could be the day, when the JSB kickstarts a new chapter in the history of the island of Bougainville and Bougainville Copper!