informations de presse 2012
27.02.2012
Source: ESBC Press Release
ESBC press release 20120227_EN
ESBC declare war on short selling!
“We want to stop fraudulent manipulation in BOC/BOU1 shares,” said the President of the European Shareholders of Bougainville Copper (ESBC), Axel G. Sturm, on Monday in Andorra. “Therefore we ask all shareholders of Bougainville Copper (BCL) to put their shares at a high price (AUD 25 to AUD 30) for sale! This will prevent custody banks from using these shares for un-authorized lending to short sellers!”
“Short selling generated huge losses in Bougainville Copper shares within the last year”, says Mr. Sturm, “As a result of short selling the share price plunged under AUD 1 since January 2011. This happened although all news flow from Bougainville had been very positive during that period. The green light for re-opening our Panguna mine is a question of a couple of months only. “
Bougainville Copper shares are supposed to have a fair value of AUD 30 to AUD 50. The exact price – of course – depends on the actual market prices of copper, gold, silver and molybdenum. On the other hand BCL is highly vulnerable to market manipulation: Less than 30 percent of BCL are in free float. (the international mining giant Rio Tinto owns 54 percent and the state of Papua New Guinea 19 percent http://www.buysellsignals.net/BuySellSignals/report/Australia/Stock/Daily/Html/deskboard/368.html).
Please find out more about the European shareholder’s (ESBC) claim in the text below:
Stop Share Price Manipulation - now!
Please support us! You’ve got the Power!
For several months now the share price of Bougainville Copper Limited (BOC/BOU1) has been pushed down heavily by short sellers: Since the beginning of 2011 it has been more than 60 percent after all! This is despite the fact that today’s news flow from Bougainville is more promising than ever. The Australian Securities Exchange ASX has reacted to this by improving short selling rules. Since August 23rd, 2011 no more short selling in BOC shares was reported.
This “ban”, however, is undermined by U.S. and other traders and successfully circumvented. Background: A majority of the stocks held by private investors is deposited with custodian banks. They register those shares in the share register (under so-called custodian banks) who then lend on our shares for short sales against a fee without the owner’s knowledge.
In this context even the ASX is powerless because this business is conducted in a semi-legal but grey area and therefore very difficult to prove. There are only two ways to prevent that our shares will be used for unauthorized short selling. The first is a nominated entry in the Bougainville Copper register. The second is a sell order that will block the shares for on- lending.
However, since the entry into the register of shareholders is boycotted by the overwhelming number of custodians in order to maintain this revenue stream, the last resort that remains is to place a sell order with an extraordinary high limit. This limit should be as high as possible so that the probability of an actual sale is highly unlikely. However, should your shares get sold at a hype, because some short sellers are forced to cover themselves (unlimited), you would have made a sensational deal. For you, this action is entirely without risk. On the contrary, with a bit of luck you are set to make a very nice profit!
Please support us in our fight against such improper dealings of those banks! If possible put up all your shares for sale at a price between AUD 25 and AUD 30 (which is currently the highest ASK in the Sydney order book!). For European investors (Frankfurt) sale prices should bebetween EUR 20 and EUR 25!
It is completely irrelevant whether you hold very few or a fair number of BOC shares! It is essential that no more BOC shares will be lent on and subsequently that particular market will dry up. This is all that counts!
Do not be put off by your broker or banker, arguing that the order could not be executed because the price is too far off the current actual price. This is nonsense! The ASK of AUD 29.90 and AUD 30 in Sydney are the best proof! In addition: As a stock owner, you can demand any price you would be prepared to sell at!
Please ensure that your sell order is valid for as long as possible and will be extended continuously! Please make absolutely sure that your shares will be put up as a “limited sell order”!
This does not commit you to anything! Should you wish to sell your shares for a lower price at a later date, you can always change your sell order accordingly!
25.01.2012
Source: ESBC
ESBC press release 20120125
ESBC President Lauds Landowners!
“This proposal sounds interesting”, said the President of the European Shareholders of Bougainville Copper (ESBC), Axel G. Sturm, on Wednesday in Andorra. “I consider it as truly fair as it is not at a disadvantage of anybody. Herewith the Landowners have really done a great job. Hopefully they will finally install their umbrella body so that the negotiations will start soon! The ESBC welcome the Panguna landowners as future fellow shareholders in our company.”
Only the landowner’s claim to repeal the still existing BCA sounds a bit harsh, said Mr. Sturm: “The ESBC will not accept that the actual legal situation will be changed unless a new deal is signed. Our company is linked to Bougainville for more than four decades. Therefore we will not allow any intermediate nor legal non binding position. We also will not accept that Bougainville Copper (BCL) to be represented by only one representative in future negotiations while all other groups - National Government, ABG and landowners - have two representatives.”
