BOUGAINVILLE Copper shares surged on Monday on the back of rumours there could be a Papua New Guinea government “breakthrough” to help reopen the long-troubled Panguna copper-gold mine.
Panguna was the world’s fourth-largest copper mine in the months before it closed in 1989 and had produced 9 million ounces of gold and 3 million tonnes of copper from 1972.
While memories of the civil war which gripped Bougainville Island become more distant, rising copper prices have underpinned the complex effort to possibly redevelop and reopen the giant open cut mine.
On Monday, Bougainville Copper shares closed up 17%, while they have since closed down 3% to 91c yesterday after the Rio Tinto subsidiary’s replies to an ASX price query revealed it had no clue why its shares soared.
Yet Andorra-based European Shareholders of Bougainville Copper president Axel Sturm had some possible answers.
He told PNGIndustryNews.net there were unconfirmed rumours that the next Joint Supervisory Board and National Executive Council (PNG cabinet) meeting will take place on March 23-25 in Bougainville.
“It may deliver a breakthrough in re-opening the mine,” Sturm said.
“I think that there is very positive development backstage.”
The ESBC is also advocating that shareholders place put options on their Bougainville Copper shares at a high price of $A25-30 each for sale to help prevent “custody banks” from using them for “unauthorised lending to short sellers”.
The Frankfurt stock exchange has become the leading stock market for trading these shares and the preliminary Bougainville Copper annual report is expected next week.
A key and longstanding hurdle to reopening the Panguna mine is gathering the support of community landowners.
There were around 600 landowners or landowner representatives of the 1980 compensation agreement for the mine – providing plenty of scope for differences of opinion.
Rio Tinto owns around 54% of Bougainville Copper while the PNG government owns about 19%.
Source: ABC Radio Australia - Pacific Beat
Political impasse continues in PNG
Its dubbed "the land of the unexpected" and Papua New Guinea's politicians have certainly lived up to that reputation over the past few months.
Political impasse continues in PNG (Credit: ABC) Since December two men have claimed the Prime Minister's job, one with the support of parliament, the other initially backed by the courts.
Last month the division led to a brief military mutiny.
But still both Peter O'Neill and Sir Michael Somare squabble over political power.
Presenter:Sean Dorney, Australia Network's Pacific Correspondent
Speaker:Belden Namah, PNG Deputy Prime Minister; Sir Michael Somare, Supreme Court Reinstated Prime Minister; Peter O'Neill, Parliament Elected Prime Minister; Jeffery Nape, Speaker December 14th 2011; Paul Barker, Director, PNG Institute of National Affairs; Dame Carol Kidu ,PNG Opposition Leader; Sam Abal, PNG Deputy Opposition Leader; Ian Kemish, Australian High Commissioner to PNG
DORNEY:These were the guns used in the half day mutiny in Papua New Guinea in late January when disgruntled soldiers joined a retrenched Colonel in an abortive attempt to take control of the military and reinstate Sir Michael Somare as Prime Minister.
Soldiers will as of today be given amnesty. Nobody will be dealt with by the law!
DORNEY:The Deputy Prime Minister in the Government elected by the Parliament, Belden Namah, is a former soldier. He spent two-and-a-half years in prison for mutiny in the aftermath of the military revolt in 1997 that terminated the proposed use of mercenaries from Africa to try to end the Bougainville conflict. He was later given a full pardon.
NAMAH: I told the soldiers of 1st Battalion and the soldiers who were involved in the recent mutiny that it's not easy. 'You must not listen to politicians. You must not listen to self-centred people who will lure you to committing that kind of offence because at the end of the day when you are charged for mutiny you'll be left on your own. Your families will be the ones to suffer the most.' And I continued to remind them that I am a living testimony of that kind of exercise that was done.
DORNEY: It was in August last year that Sir Michael Somare's nine year old Government fell apart when he was in hospital in Singapore for months undergoing a series of major heart operations. He was in a coma when his son, Arthur, also an MP, announced his father would retire.
SOMARE: Supreme Court Reinstated Prime Minister
Arthur was thinking that I was, I was very sick. And he said there could be a possibility of my retiring early.
DORNEY:I told Sir Michael that he was looking remarkably well considering how close to death everybody thought he had been.
Yes, yes. It's a big operation, my friend. You know it! (Laughs)
DORNEY:The PNG Parliament elected Peter O'Neill as Prime Minister. But then in December the Supreme Court ruled in a split three-two decision that proper procedure had not been followed and Sir Michael remained Prime Minister. However, Prime Minister O'Neill has the overwhelming support of Parliament - a bigger majority, he says, than Australia's Prime Minister, Julia Gillard.
O'Neill:We don't have a majority of one. We have a majority of close to 50. If anyone doubts that kind of mandate all they have to do is come and visit our Parliament. So we are in charge of the executive government, we are in charge of the public service, we are in charge of the Treasuries and the Police Force and the security forces of our country. So our Government did not go out there and try to take control of government by barrel of gun. Now, Somare has done that.
DORNEY: The O'Neill Government used its numbers to dismiss Sir Michael from Parliament citing his absence from three consecutive sittings.
NAPE: Parliament having effectively removed the former Prime Minister. He is now an ordinary person.
SOMARE: Supreme Court Reinstated Prime Minister
And Mr O'Neill has a lot to answer for. He has to answer, 'Why are they doing this?' He has to answer to the people of East Sepik. First, people of East Sepik, he went and used the Parliament to put me out of the Member for East Sepik, duly elected. Nine consecutive Parliaments I have been elected to that seat. Nine Parliaments! Not one that I missed out on. Got re-elected. No. You know it! I came in '68 and I stayed put!
DORNEY: Amid rowdy scenes in Parliament, Sir Michael tried to serve the Speaker with the Supreme Court decision.
SOMARE:We are Members of Parliament. We are coming in!
NAMAH: A stranger. There is a stranger in the House. Stanger! Stranger! Stranger! (Yelling) He's a stranger. He's no longer a Member of Parliament!
SOMARE:Contempt of court. You are in contempt of court!
BARKER:The wider public support, you'd have to say, would be over the past months is with the Belden Namah/O'Neill team.
DORNEY: Paul Barker is the Director of the privately funded PNG Think-tank, the Institute of National Affairs.
BARKER: But there is a strong public sympathy for Somare and a feeling, 'Well, look, this is unfair of him, on him to be particularly removed as a Member of Parliament.' But the public doesn't want their sympathy or even their feeling that maybe he is even the rightful Prime Minister, they don't want that to go as far as seeing soldiers coming out into the streets and risking public, public safety.
DORNEY:The attempted military mutiny disturbed former Somare supporters like his Community Affairs Minister who is now the Opposition Leader, Dame Carol Kidu.
KIDU:And I said, 'Look, I'm very uncomfortable with this. I don't want to be associated with it. I'm sorry but I'm going to distance myself.'
DORNEY:One of those who had been most loyal to Sir Michael - the man he left in charge as Acting Prime Minister when he went to Singapore, Sam Abal, has quit Sir Michael's National Alliance Party.
ABAL:The party, obviously, seems to be breaking up. My relationship with the Grand Chief and Sir Michael is OK. You know, I've a good working relationship with him. And it was a bit of a sad affair for me to inform him that I will have to be going on because I cannot work with the executives and other people there.
DORNEY: Not everything is going the way of Prime Minister O'Neill's Government. One of his Ministers has just been suspended and is facing a Leadership Tribunal on charges of alleged misconduct in office. Another Minister had his house raided and the police found hundreds of rounds of ammunition. On the other side, Arthur Somare, Sir Michael's son, is also been suspended from Parliament and he, too, is also facing a Leadership Tribunal for alleged misconduct in office.
DORNEY:Sir Michael, now 76, says he had intended to retire this year but he's so angry at what has happened he's reconsidering.
SOMARE:I was looking forward to 2012 but if people think that they can easily use the Parliament numbers to get rid of me that easily, I have a second thought. Because the East Sepik people would think similar. Already they're talking in terms of getting me back in Parliament. But, as I said, we're waiting for the Court decision to take its course and we'll wait.
DORNEY: The PNG Supreme Court is dealing with a dozen cases arising from the Constitutional crisis.
BARKER:The problem is they are all going back to the Constitution as if it's a sort of complete bible which spells out every possible scenario. And, of course, it doesn't. So they're left then with judges and Parliament itself trying to adjudicate or trying to read within the words when the words are not, cannot describe and prescribe everything. So, hence, clearly the difficulty that the judges had. And the difficulty that everyone else has had. And the field day that the lawyers have had.
DORNEY: Australia's High Commissioner, Ian Kemish, has been advising Canberra that any high profile attempt to broker a resolution could have unintended consequences.
KEMISH: I'd argue that while there have been some troubling developments over the last few months these developments have also underlined some positive things about the capacity of certain key Papua New Guinean institutions - and I mean particularly the PNG Defence Force and the PNG Police to manage themselves in a mature, responsible and non political way.
BARKER:Well, PNG must be one of the only places in the world where you can have, effectively, call it what you will, a mutiny, you can have had changes, battles within the courts, all kinds of scenarios that have been fairly rough and ready and yet, where the Kina has been going up. So even when Standard and Poors reduced the credit ratings agency, the ratings for the country the Kina went on going up. So the markets, especially the investors that have been long established in PNG tend to take account of a PNG factor: certain idiosyncrasies, yes, squabbling for power, votes of no confidence. By and large, investors don't worry that much about changes of government so long as the policies don't change.
DORNEY: Papua New Guinea is due to go to the polls in the coming months for its eighth, uninterrupted democratic elections since Independence. The former Acting Prime Minister says he's expecting a record number of Independents to win.
ABAL: As you know it's more personalities than policies and so it's not really clear on how they will vote. I think there will be a lot more Independents coming out because of that confusion.
NAMAH:Sean, you have been in Papua New Guinea. How many times do the Australians, media say, 'There will be bloodshed. There will be trouble in Papua New Guinea during elections.' And how many times we have proven them wrong. And we will continue to prove them wrong.
DORNEY: For the Papua New Guinea public it seems the elections cannot come soon enough.
Source: Australian Government
Simply the best!
by Axel G. Sturm
As a subsidiary of Rio Tinto who themselves traditionally practice an extreme restrictive communications policy, Bougainville Copper Limited has always run the same way. Today, BCL’s comments in the 2011 Preliminary Final Report have to be considered as sensational. Never ever BCL made such promising statements before. Please read here, this what they disclose:
“The past year has given Bougainville Copper more reason for optimism about the future of the company than any year out of the previous twenty.
There are several activities underway that can positively assist the company in making a return to profitable operations.
The most beneficial change has been the momentum developing from the Panguna landowners and other Bougainvilleans’ focus on re-development agenda. The relationship between President John Momis, his government, and Bougainville Copper’s board and management remains cordial and engaged, including the invitation for company representatives to make further visits.
The PNG National government has publicly acknowledged the company’s ongoing rights under the Bougainville Copper Agreement (BCA). Bougainville Copper’s major shareholder, Rio Tinto, has confirmed its commitment to exploration and investment in Papua New Guinea, a commitment to the development of PNG that has been ongoing for half a century.
Several studies have been initiated that will underpin both the re-negotiation of the Bougainville Copper Agreement, and the feasibility modeling planned by the company.”
These statements make easily forget the losses that were accumulated – well of course – due to the international financial crises. Nevertheless, Bougainville Copper Limited remains a company without any debts!
Source: Bougainville Copper Limited
Preliminary Final Report 2011 Published!
BCL company secretary Paul Coleman published today the 2011 prliminary final report.
A SECURITY manager in Buka has denied receiving money from Rabaul Shipping owner Peter Sharp to free his ships.
Owner of Hasaka Security Services Gerry Sawa said allegations that he had received K300,000 from Sharp were not true.
The misinformation led to a confrontation between Sawa’s guards and ex-combatants who are holding three ships owned by Sharp.
Mr Sawa, said his security firm was engaged to provide security for the manageress of Rabaul Shipping in Buka.
He also said that rumours that Mr Sharp had purchased a new vehicle for the firm were also not true.
Mr Sawa said that his firm was engaged by Rabaul Shipping Buka purely to provide security services when Buka Police personnel upon request could not provide adequate protection for the manageress.
He said that the incident that occurred on Friday was a direct result of these speculations .
He said he had been asked by the manageress to help retrieve the Rabaul Shipping vehicle which was also being held by those that had taken over the vessels.
He said initially, he had no intention of involving himself or his security firm with matters relating to the vessels being held at the Buka Wharf but acted only after Buka Police had trouble retrieving the vehicle.
He said his attempt to retrieve the company vehicle must have sent a wrong message to ex-combatants resulting in shots being fired on Friday afternoon.
Respecting the rule of law, Mr Sawa voluntarily handed over a high powered firearm which he had in his possession to Buka Police and said that it was now up to the ex-combatants guarding the vessels to give up theirs.
He said his security firm was there to provide safety and security to the people of Bougainville and were not involved in taking bribes to provide their services to the people.
Nasioi women demand action
Under the blistering Bougainville sun, they quietly gathered outside the district local level government office.
First there was a handful, and then the numbers increased as more women took up their positions holding a large banner that read: “Mipela ol mama bilong North Nasioi Inter-Church i laikim tru bai Gavman i mekim hariap ol dispela samting: Primary School Teachers Institute, Secondary School Institute. Attention: Hon President, Hon Minister for Education.”
Women from other regions of Bougainville also gathered with their sisters demanding a decent passenger vessel for Bougainville as another request besides the demand for ABG to establish learning institutions in Bougainville.
This was the scene last Friday as women staged a peaceful march, many dressed in black as a sign of mourning for the loss of Bougainvilleans on the recent MV Rabaul Queen ferry sinking.
They presented their petition to the local members and Ministers in the ABG. The march was organised by the North Nasioi Inter-Church Women’s group who were concerned about the recent tragic sinking which claimed many lives of Bougainvillean students travelling to schools and colleges on mainland Papua New Guinea.
Among other things, the petition called for immediate establishment of teacher training institutes in Bougainville, one for primary school teachers and another one for secondary school teachers. The women also made a strong request for a university to set up in Bougainville so that students can complete their studies on the island.
The tearful mothers carried placards and chanted the “Patuai” a traditional farewell chant, and marched along the main streets of Arawa past the main market to the Marimari Church where they were received by the Minister for Primary Industry and Member for North Nasioi in the Autonomous Bougainville Government, Nicholas Darku.
Other ABG Ministers and Members there were David Sisito, Veteran Affairs Minister and Mining Minister Michael Oni.
Evelyn Banas one of the speakers said: “I think it is time to call on God because he has a message for us and I believe the ABG has got that message.”
She said there were many students who lost their lives in the tragedy. Some of these students are being orphaned as well.
She said most already orphaned here in ARB and coupled with financial problems often took the easy way out by taking the cheapest transport available to get to a place of study.
Mrs Banas also asked ABG to provide scholarship for the top students in the region.
Other women like Ludwina Dake, Mary Koren and Regina Nigu asked those who were still holding guns to get rid of them and called on the landowners to allow the government to establish schools and other institutions on the land for the good of everyone in Bougainville.
They also asked the government to immediately carryout a repatriation program for care centre residents who were initially settled by the government at Arawa.
This is so that the houses they were occupying could become available for government workers to move in once they were vacated.
Minister Darku welcomed the petition and told the women that these issues were not just for the leaders to look into.
These issues cover all of Bougainville and not just people of North Nasioi or Central Bougainville.
He asked for support to deal with them.
He added that it was quite unfortunate that this tragedy happened but has opened our eyes.
The Minister accepted the petition from the women on behalf of the ABG.
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 be between 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!
ESBC press release 20120227_GE
ESBC: Kriegserklärung an Shortseller!
“Wir sind fest entschlossen, der Kursmanipulation bei Bougainville Copper (BCL) Aktien den Garaus zu machen,” erklärte der Präsident der europäischen Aktionäre von Bougainville Copper (ESBC), Axel G. Sturm, am Montag in Andorra. “Deshalb fordern wir alle BCL Aktionäre auf, ihre Aktien zu einem hohen Preis von AUD 25 bis AUD 30 (EUR 20 bis EUR 25) zum Verkauf zu stellen. Dies wird die Lagerstellen und die Custodian Banken davon abhalten, Aktien die ihnen nicht gehören unautorisiert an Shortseller zu verleihen!”
“Leerverkäufe haben den Aktionären der Bougainville Copper Limited (Börsenkürzel BOC/BOU1) innerhalb der letzten 12 Monate massive Verluste eingefahren,” sagt Sturm, “vor allem Shortseller waren dafür verantwortlich. Die Aktie stürzte von EUR 1.50 zeitweise auf unter EUR 0.60. Und das obwohl sich die Nachrichtenlage stets verbesserte und der Startschuss zur Wiedereröffnung der Pangunamine wohl innerhalb der nächsten Monate fallen wird.“
Das Fairvalue von Bougainville Copper Aktien wird derzeit mit EUR 25 bis EUR 45 errechnet. Ein exakter Preis ist selbstverständlich abhängig von den jeweiligen Weltpreisen für Kupfer, Gold, Silber und Molybdän. Die Bougainville Copper Aktie ist wegen ihres geringen Freefloats (nur knapp 30%) sehr anfällig für Marktmanipulationen. Hauptaktionäre von Bougainville Copper Limited sind Rio Tinto (54%) und der Staat Papua Neuguinea 19% .
Lesen Sie nachstehend den Aufruf der European Shareholders (ESBC) im Wortlaut:
Stoppen Sie die Manipulation der Aktienkurse – jetzt!
Bitte helfen Sie uns! Sie haben die Macht!
Seit mehreren Monaten wurden die Kurse von Bougainville Copper Limited massiv von Leerverkäufern nach unten gedrückt: Seit Anfang 2011 immerhin um mehr als 60 Prozent! Und das obwohl die Nachrichten aus Bougainville heute besser sind, denn je sind. Die australische Börse ASX hat darauf reagiert, indem sie offensichtlich Leerverkäufe in BOC Aktien ab dem 23. August 2011 unterbunden hat.
Diese Regelung wird allerdings von U.S. amerikanischen und anderen Tradern unterlaufen und erfolgreich ausgehebelt. Hintergrund: Ein Großteil des Aktienbesitzes von Privatinvestoren liegt in Lagerstätten und erscheinen dann im Aktienregister unter sogenannten Custodian Banken und andere, von denen dann Ihre Aktien ohne Ihr Wissen gegen Gebühr für Leerverkäufe verliehen werden. Dagegen ist sogar die ASX machtlos, da dieses Geschäft in einer rechtlichen Grauzone abgewickelt wird und nur sehr schwer nachweisbar ist. Es gibt zwei Möglichkeiten, zu unterbinden, dass Ihr Aktienbesitz für unautorisierte Leerverkäufe genutzt wird. Die Erste ist ein namentlicher Eintrag in das Bougainville Copper Aktionärsregister. Die Zweite ist eine Verkaufsorder, die automatisch die Aktien für den Verleih blockiert.
Da aber der Eintrag ins Aktionärsregister von der überwiegenden Anzahl der Lagerstätten und Banken boykottiert wird, um sich so eine zusätzliche Einnahmequelle zu sichern, bleibt nur noch eine hoch limitierte Verkaufsorder als ultima ratio. Diese sollte möglichst so hoch limitiert sein, dass die Wahrscheinlichkeit eines Verkaufes des eigenen Aktienbesitzes eher unwahrscheinlich ist. Sollten allerdings Ihre Aktien dennoch bei einem Hype verkauft werden, weil einige Leerverkäufer gezwungen sind, sich unlimitiert einzudecken, haben Sie ein sensationelles Geschäft gemacht. Für Sie ist diese Aktion vollkommen risikolos. Im Gegenteil: Mit etwas Glück machen Sie sogar einen tollen Gewinn!
Bitte unterstützen Sie uns deshalb in unserem Kampf gegen unlautere Machenschaften solcher Banken ! Stellen Sie möglichst alle Ihre Aktien zu einem Preis zwischen AUD 25 und AUD 30 (das ist das derzeit höchste ASK im Orderbuch in Sydney!!!) zum Verkauf. Für europäische Investoren in Frankfurt empfehlen wir Verkaufspreise zwischen 20 EUR und 25 EUR!
Dabei ist es vollkommen unerheblich, ob Sie nun sehr wenige oder aber sehr viele BOC Aktien besitzen! Wesentlich ist nur, dass keine BOC Aktien mehr verliehen werden können und dieser spezielle Verleihmarkt ausgetrocknet wird. Einzig das zählt!
Lassen Sie sich nicht von Ihrem Broker oder Bankberater mit dem Argument abspeisen, die Order könne nicht eingestellt werden, weil sie zu weit vom derzeitig aktuellen Kurs entfernt sei. Das ist barer Unsinn! Das ASK von AUD 29.90 und AUD 30 in Sydney sind der beste Beweis! Zudem: Als Aktienbesitzer können Sie jeden Preis fordern, zu dem Sie verkaufen wollen!
Achten Sie bitte darauf, dass Ihre Verkaufsorder so lange wie möglich gültig ist und gegebenenfalls stets verlängert wird! Achten Sie bitte peinlichst darauf, dass Ihre Aktien nur limitiert zum Verkauf gestellt werden!
Das verpflichtet Sie zu nichts! Sollten Sie Ihre Aktien zu einem späteren Zeitpunkt billiger verkaufen wollen, können Sie jederzeit Ihre Verkaufsorder entsprechend abändern!
Source: ESBC Research
The share price of Bougainville Copper in Sydney soared 22.5 percent on Monday. This was shortly after ESBC President Axel G. Sturm announced an important price relevant press release for Monday evening.
Market Depth for BOUGAINVILLE COPPER as at 1:18:06 PM Monday, February 27, 2012
BOUGAINVILLE COPPER Trade Summary - Status
Last Traded 288 @ 0.98 - 12:46:17
BOUGAINVILLE COPPER Market Depth
MA to depend independence for Bougainville
By PETERSON TSERAHA
BOUGAINVILLE MPS who win a ticket to the PNG parliament under Melanesian Alliance will demand nothing more than full independence from PNG.
Former Autonomous Region of Bougainville vice president Joe Watawi announced this at the weekend.
Mr Watawi is aiming to contest the Bougainville regional seat held by Fidelis Semoso.
Mr Watawi said the MA they are now forming will be a new MA with new goals and objectives.
“Since it is the first political party involving a lot of Bougainville politicians like the current president John Momis, we will have one ultimate goal and that is independence for Bougainville.” “We will do it the professional way and get independence through politics,” Mr Watawi said.
Joining Watawi is former Bougainville education advisor Anthony Tsora for the North Bougainville seat.
Interim chairman and former PNG Shorncliffe boss Esebius Omi said MA is an original Bougainville Party and will surely have a lot of support.
In a meeting last Thursday, former members who registered showed up with their ID cards issued to them.
The membership cost K2.
Mr Tsora said the only member of MA in the National Parliament is Opposition Leader Dame Carol Kidu.
“The only existing member for MA is the Opposition Leader Dame Carol Kidu and I know for sure a lot of women will be supporting this party because it has now re-emerged and the whole of Bougainville feels that it is their party,” Mr Tsora said.
Melanesian Alliance through accurate research and observations by many political analysts will be the right party to enhance the relationship between Bougainville and Papua New Guinea, and it is the party that has involved a lot of indigenous Bougainvilleans and not only the rich and prominent ones who have money, MA is truly the grass roots party.
According to interim chairman Esebius Omi, fundraisings are already underway and the first meeting will be tomorrow.
New health plan
BOUGAINVILLE has a new health plan that will focus on developing a strong and sustainable approach to community health care.
The Bougainville Healthy Communities Program (BHCP) is an initiative of the Health Division of the Autonomous Bougainville Government (ABG), which emphasises on preventive health care.
It is funded by the New Zealand Government at more than K1.2 million through the Leprosy Mission New Zealand.
ABG First Secretary for health, Amato Sahoto said BHCP will strengthen the heath care system on a broader perspective, and provide adequate and necessary health education for villages.
“This program is cheap, and people owned and will reach out to the villages. It will educate people to practice hygiene and prevent them from getting sick.” he said.
The program started in 2005, said Mr Sahoto.
It is now in its second phase and is well established in five key districts. It will move progressively into the remaining districts of Bougainville before it ends in 2014.
Moreover, the project supports Bougainville to develop sustainable village owned and run community health programs, so villagers take responsibility for their own health and well being.
Mr Sahoto said that the program will link the villages into the formal government health
Buka locals query COE
THE people of Buka in Bougainville have raised concerns why the second arm of the Autonomous Bougainville Government - the Council of Elders (COE) has remained dormant.
These concerns were raised following the council’s failure to deliver services and implement projects in the six constituencies of Buka district.
According to Chairman of the Buka District Chairman Conference Romeo Tohiana, he said that there are insufficient funds that should assist the work of the Council of Elders.
He said COE has an annual budget of K40, 500 from the Local Level Government, however these funds still is not enough.
“With the funding we receive each year, it still cannot cater for the many established projects.
This year we have requested ABG to increase the funding because we want to carry out these projects.” he said.
Gunshots exchanged over alleged payment
REPEATED gunshots were exchanged in Buka town following disagreements over an alleged cash payment made by Rabaul Shipping owner Peter Sharp for the release of his vessels held in captive by ex-combatants.
Ex-combatants last Friday exchanged gunshots in a heated argument with a security firm owner (named) and his employees.
The ex-combatants have been holding three Queen ships, MV Solomon Queen, Kopra 1 and Kopra 2, all owned by Rabaul Shipping since the Feb 2 sinking of the Rabaul Queen with loss of lives off the coast of Finschhafen in Morobe.
Shots were fired because the combatants were angry about unconfirmed reports that Mr Sharp had allegedly paid a local security firm about K300,000 (K100,000 each ship) to secure the release of the three vessels.
While Buka police confirmed the shooting incident, they were unable to confirm if Mr Sharp had delivered the money to free his ships and crew.
However, police said the incident happened and advised that reconciliation was set for Tuesday for these two groups. Police said that the ex-combatants had demanded K350,000 from Rabaul Shipping to compensate for their grieving relatives who survived the ill-fated Rabaul Queen ordeal, many of whom are still missing.
The gunfire alarmed the population of Buka town and nearby Ieta villagers including those residing in Sohano and Kokopau vicinity and specifically the business houses.
The police confiscated a gun but it is believed more guns are being held by both parties, which is threatening the UN imposed ceasefire and peace agreements. Mr Sharp could not be reached for comments.
The gunshots have now raised a possible breach of the peace agreements signed in 2001 to stop all gunfights.
On the same day, as early as 8am, in far central Bougainville, North Nasioi women quietly gathered outside the district local level government office to petition the Government over the ferry issue and that the Autonomous Bougainville Government should seriously take the ill-fated voyage into account.
2012 election queried
PAPUA New Guinea’s 2012 election faces a deferral if the government has its way because of the controversial figures of the Electoral Roll.
But according to the Deputy Prime Minister Belden Namah, Papua New Guinea needs to prepare for Royal Visit by Prince Charles and his wife Lady Carmila.
The royal couple are expected in PNG visiting in the middle of the June Elections.
Mr Namah told Parliament last Friday that PNG does not want to be internationally embarrassed to receive the future King in the middle of the June Elections, therefore the visit warrants the deferral of the elections.
Parliamentarians have also raised the prospect of delaying the June 2012 elections, this is in addition to the government questioning the figures in the electoral commissioner’s report, tabled in parliament last Friday by Leader of Government Business Moses Maladina on behalf of Minister assisting Prime Minister Waka Goi.
The report by Electoral commissioner Andrew Trawen on poll preparations has stated that the electoral roll was about 60 percent complete, which also detailed that 40 percent of the roll was yet to be completed.
This meant that only 2.4 million of PNG’s four million eligible voters are registered.
“Preparations to date include the registration of 2.4 million eligible voters on the Preliminary Electoral Roll out of anticipated four (4) million eligible voters.
“This means the Roll is approximately 60 percent complete and covers most of the open electorates in the southern, New Guinea islands and the Mamose regions,” Mr Maladina said.
“I have since received independent reports that this is not correct,” Mr Maladina said. He said that the electoral commissioner admitted that there were some “pockets” within (the Southern, New Guinea Islands and Mamose) regions, which were still incomplete.
He also said that he had received independent reports that electoral rolls for the nation’s 89 open electorates had not been returned to many electorates.
In his report Mr Maladina read out the need for more police funding, a K25 million shortfall that police are currently seeking from the Government.
These are additional funds from the K105 million already dispatched to police for their security operations.
This also include K35 million for PNGDF, K9.6 million for Correctional Services and an additional K16 million from donors to add to the K180 million given to the Electoral Commission to prepare for the elections bringing the total of K330.5 million altogether for this whole 2012 national General Elections.
Electoral Commissioner Trawen last night maintained he would be ready to go to polls come April 27, 2012 when writs would be issued.
Unitech to open centre in Arawa
By PETERSON TSERAHA
ARAWA High School, one of the oldest schools on Bougainville, is now a secondary school and it will also be the branch for the University of Technology’s distance education program.
A memorandum of understanding between Unitech and Arawa secondary school authorities for Department of Distance Learning to be set up was signed last Wednesday.
It coincided with the official opening of the ‘four-in-one’ AusAID funded classroom.
Present at the ceremony were Chief Executive Officer for Education on Bougainville Bruno Babato; DODL director Dr Wilson Tovirika; Arawa Secondary school Principal Paul Lapun; George Mantaku, board chairman; Central Region Education director Anita Salas; Member for Central Bougainville, chiefs and other dignitaries.
Mr Mantaku said they had been asking for a long time for Arawa High to be turned into a secondary school and it now became a reality.
“A lot of developments in terms of infrastructure will still be taking place and this school will be growing, with Unitechs input now we will be a big school.” Mr. Mantaku said.
Mr Mantaku further appealed to landowners, especially in the Arawa town vicinity to make available land so developments such as chool buildings can be built on the land.
Mr Babato thanked AusAID for funding the construction of the ‘four-in-one’ classroom.
He also thanked the contractor Earth Works Limited for completing the building on time and for using the money allocated for the job wisely.
“We can really thank AusAID now for what they have done for us here in Arawa, funding a much needed asset for us, a school classroom.” Mr Babato said.
“The most important thing is that we have a really trusted contractor now I would like to thank Michael Tukaku and his company Earth works Limited for a job well done. A lot of projects on Bougainville are incomplete, luckily for Arawa high school it is a job well done.” Mr Babato said.
Unitech’s Mr Tovirika said the set up in Arawa was one of the best in the country and parents and students should take ownership of it.
School’s Mr lapun said more than 100 hundred students had so far enrolled for DODL in Arawa.
Since Mr Lapun became the head of the school, Arawa high had moved into new heights with a lot of parents and students saying it is much more convenient and easier now for them to attend school in their own area than going to Buka.
Source: PNG Attitude
My first PNG posting – struggle on Bougainville
In this second part of his PNG memoirs from the 1970s, ANDREW LESLIE PHILLIPS, now a radio station manager in the USA, recounts his first experience of being a patrol officer in Bougainville.