Hi all
I am prompted to post some interesting facts and links because those who are new to Bougainville Copper Limited (BCL) via Hot Copper might find them useful.
I am a private Australian investor who has taken a large (for me) punt on the future of Bougainville, and as I see it that will require that the mine re-open. Years ago, prior to the crisis, I visited Bougainville (and the mine) several times through my work as an Engineer.
Compared to several years ago when I first made my investment there has been a great deal of progress made towards a re-start of the mine. The local stakeholder negotiating groups have been created as legal entities and regular meetings are held to discuss early-stage issues with BCL, ABG, PNG and local stakeholders
Yes, there are still some loud negative voices and complications from local political factions and outsiders of dubious character who seem to pop up occasionally, but as I see it there is positive progress. If nothing else, these loud criticisms bring to light the issues needing to be worked through
A few recent facts which seem to indicate that in the near future there will be some “good news” stories coming out:--
• The BCL AGM will be held in Port Moresby on 5th May ( ie the Board Of Directors of BCL will be in town)
• President Momis of Autonomous Bougainville Government (ABG) has announced that the Bel Kol between Landowners and BCL has been approved for 12th May. (the following week)
• BCL has stated that they will open an office in Arawa this year.
• The Office of Panguna Negotiations has been set up within legal boundaries as required by the Bougainville Constitution and has also been instrumental in securing the K5 million per year support grants for the next five years for negotiations from the ABG.
• From Post Courier (PNG newspaper) dated 4th February 2014
“I want to re-open Aropa Airport in 3 months’ time” he said. “ ….. because I will return to Bougainville after 3 months to officially open Aropa Airport after 22 years of it being closed” Mr O’Neill said. ( ie … 3 months from 4th Feb is …wait for it … early in May (Mr O’Neill is the President of PNG))
So it is fair to say that there is momentum building and May will be a “big” month for BCL
There is a website run by a group called “European Shareholders Of Bougainville Copper” which has a news page … note that it is changed monthly … currently the March site is
http://www.bougainville-copper.eu/news-march-2014.html
There is another German-based site which is the equivalent of Hot Copper, but in German.
You can use Google Translate to get the gist of what is being said … they also have snippets of news.
http://www.ariva.de/forum/Trading-Bougainville-Copper-ADRs-867948-304728?page=729
I hope you find this useful
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