BOUGAINVILLE (852652)

AS A company that's listed in Johannesburg, Harmony Gold has not been getting much public, or media, attention in Papua New Guinea. But that is about to change in a big way. By Brian Gomez


From an almost innocuous entry in February 2003 when it took over the Australian Stock Exchange-listed Abelle Ltd, which was then working on development of PNG's Hidden Valley silver-gold deposit, Harmony has been making big headway.

Hidden Valley should begin production of silver and gold in November next year after a development costing some $US278 million, producing the equivalent of 285,000 ounces annually.

Harmony has obtained a $US31 million facility from Westpac PNG for the purchase of its mining fleet, and the company says that it expects non-citizen employment at the mine to be less than 5% within four years.

It has signed a contract with the government utility PNG Power for supply of hydropower from the Yonki Dam commencing in January 2009, but will also own diesel generators capable of providing 100% back-up.

Since its entry, Harmony has become very enthusiastic about PNG's minerals potential and the prospectivity within the three areas it is exploring â?" Morobe-Hidden Valley (1226 square kilometres), Wafi Golpu (960sq.km) and Morobe Coast (2069sq.km).

This enthusiasm is expressed quite simply on Harmony's website, which states: "The mineral prospectivity of PNG is considered among the highest in the world and Harmony's landholding is one of the best in PNG."

To back up this view Harmony has six exploration teams working out of six camps with pre-feasibility studies underway on the Wafi gold deposit and the adjoining Golpu porphyry copper-gold deposit.

The most recent upgrade in February showed that Golpu contains 163 million tonnes averaging 1.1% copper, 0.6 grams per tonne gold and 132 parts per million molybdenum for contained copper totalling 3.9 billion pounds, 2.96 million ounces of gold and 47 million pounds of molybdenum.

Contained gold at Wafi amounts to 6.52Moz.

The company has also outlined a 1sq.km geochemical anomaly, Biamena, where trenching at Moa Creek has yielded 35m at 3.3gpt gold. There is optimism this may develop into a new ore body, only 10km south of Wafi.

It is understood Harmony has held some preliminary discussions with Korean and Japanese copper smelters on the possibility of jointly developing Golpu, where a decline is expected to be built in the first quarter of next year for further testing of the ore body.

It is possible Wafi could be developed into a new gold mine by the end of the decade, with Golpu coming onstream possibly two or three years later.

This would make Harmony a major force in gold mining in Papua New Guinea, possibly with production of around 1Moz annually from its three core projects.

On present indications Lihir Gold will by then be producing more than 1Moz annually from its lone ore body, while Barrick's Porgera could be producing around 600,000oz a year.

Unless new reserves are proven up, the big Ok Tedi copper-gold project would be in shut down mode at this stage.

Around the time Golpu is likely to be brought into production, another medium-scale copper-gold deposit could also be developed by Frontier Resources at Kodu, near Port Moresby.

Clearly PNG will remain a major force in global gold production in the coming decade as traditional gold producing nations such as South Africa, Australia and the United States continue to lower their profiles.

Click here to read the rest of today's news stories.

 

Was ist da los??  

 

http://www.postcourier.com.pg/20070608/frhome.htm

500 Kg sind rd.15000 Oz oder 10 Mio USD,kann der B'ville Wirtschaft nur guttun ;-)))


Illegal gold trade

MORE than 500 kilograms of gold has been smuggled out of the Autonomous Region of Bougainville.
And the responsible authorities in Bougainville claim they cannot do anything about it because the mining powers are still vested in the Papua New Guinea Government.
Prominent Bougainville leaders are allegedly involved in the gold smuggling scandal. Gold is being taken out through air and sea services, including through Gizo in Solomon Islands.
Bougainville police yesterday said they had not received any formal reports or complaints on the alleged smuggling but confirmed such an activity was being carried out.
On Wednesday night, a reporter was part of a three-way conversation about a dealer who had seven kilograms of gold dust ready to be sold to a Port Moresby-based prominent Bougainvillean yesterday through Air Niugini. The dealer said he had been trying to contact another dealer in Port Moresby but could not because he did not have enough Telikad units to call.
It appeared the dealer and the reporter know people in Port Moresby who buy gold from Buka, Arawa and Bougainville as a whole.
??there is gold dust and gold nuggets that we are dealing with here. You must know that Bougainville people are panning for gold, it?s alluvial gold.
?There is lead oxide absorption impurities and there are other techniques like acids, there is hydrochloric and sulphuric acids being used here and that is why it is difficult for one to understand how they are being taken out of the region,? the executive told the Post-Courier.
Yesterday, Bougain-ville business executive Thomas Rabanz said the issue of gold smuggling was one of the main agenda items in the Bougainville Business Association meeting in Buka on Wednesday. Concerns were raised for the ABG hierarchy to immediately and urgently act, based on the Constitution which stipulates all resources are owned by the people and come up with a strategy to ?stop this nonsense?.
 

BOUGAINVILLE: Election authorities express confidence.

Papua New Guinea national election authorities on Bougainville are confident of a trouble free election in the autonomous region. Provincial Returning Officer for Bougainville, Reitama Taravaru says there's an overwhelming sense of co-operation towards the elections throughout the province. He says even the Mekamui controlled no-go zones on Bougainville, where there had initially been some doubts, are participating in the elections. A total of 39 candidates have been nominated to contest the three open electorates and one regional seat on Bougainville. Mr Taravaru was speaking to Sam Seke about his outlook on the conduct of the PNG national elections on Bougainville.
 

Mit NORTHERN PERU COPPER sichern Sie sich eine solide 50%-Chance bis Ende dieses Jahres!Das kanadische Rohstoffunternehmen profitiert wie kaum ein zweites von der anhaltenden Kupferhausse, die auch weiterhin maßgeblich von der Nachfrage Chinas unter Dampf gehalten wird. Die LME Lagerbestände befinden sich auf dem tiefsten Stand
seit November 2006, kein Wunder also, dass Kupfer weiter auf dem Vormarsch ist. NORTHERN PERU COPPER sitzt aktuell auf einer In Situ-Ressource von rund neun Milliarden Pounds Kupfer, was einem Wert von USD 30.6 Mrd. entspricht. In dem im Norden Perus gelegenen Galeno-Projekt sind nach einer Machbarkeitsstudie Investitionen von USD 976 Mio. nötig um jährlich 144 000 Tonnen Kupfer zu operativen Kosten von USD 0.51 je Pfund zu produzieren. Bei einem Umsatz von USD 1.08 Mrd. errechnet sich daraus ein Rohertrag von USD 919 Mio.! Der Börsenwert des Unternehmens
liegt aktuell lediglich bei rund USD 200 Mio.! Kein Wunder, dass das US Investmenthaus Raymond James NORTHERN PERU COPPER für deutlich unterbewertet hält und ein Kursziel von CAD 17 ausflaggt.
Derzeit notiert die Aktie an der Toronto Stock Exchange bei CAD 10.95. Kaufen!

BOC hat allein in der Panguna-Mine Ressourcen von rd. 6 Mia Pounds Kupfer was somit  einem Wert von ca 20 Mia USD entspricht.(Gold,Silber Molybdän + 7 zusätzliche Lizenzen nicht einmal eingerechnet).Die Investitionskosten dürften bei Wiedereröffnung unter den bei Northern Peru Copper benötigten 1 MIA USD liegen,die Produktion mit 180000 Tonnen wäre jedoch rd 25% höher.
Zum Vergleich
http://www.northernperu.com/s/Home.asp
http://www.bcl.com.pg/  

von der NPC Homepage
MAY 2007
SHARES EXERCISE ISSUED + OUTSTANDING 29,312,442  
WORKING CAPITAL CAD 5.0 M
macht eine MKP. von 210 Mio. Euro

nur zur Info:
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Northern Peru Copper Corp. (the "Company") (TSX:NOC) has today entered into an agreement with a syndicate of underwriters led by Raymond James Ltd. and including Salman Partners Inc. and Canaccord Capital Corp. (the "Underwriters"), under which the Underwriters have agreed to buy on a private placement basis 2,000,000 common shares from the Company at a price of $8.40 per common share. Closing is expected to occur on or about May 15, 2007

jetzt BOC:

SHARES EXERCISE ISSUED + OUTSTANDING 401 Mio.Stk
WORKING CAPITAL CAD 142 Mio.!!!
macht eine MKP. von 220 Mio. Euro
plus mehr Lizenzen,plus billigere Produkion

Habe schon einen Schrecken bekommen das es noch ein so unterbewertetes Unternehmen gibt.So bleibt BOC aber einzigartig.Jetzt rechnet mal wenn Raymond James für NPC 17 CAD ausruft,was BOC dann wert ist. :-).Wir müßten uns jetzt schon verdoppeln.  

http://www.scoop.co.nz/stories/WO0706/S00108.htm

Illegal gold trade
Saturday, 9 June 2007, 1:43 pm
Press Release: Sturm PR  

The European Shareholders of Bougainville Copper

Nur das einfügen scheint nicht ganz geklappt zu haben ;-)))  

Press Release 2007-06-08





Refering to the following article that has been published in the Post Courier (Port Moresby/PNG) on June 8th, 2007 :



News
Weekend Edition Fri - Sun   08th  - 10th June , 2007


Illegal gold trade

MORE than 500 kilograms of gold has been smuggled out of the Autonomous Region of Bougainville.
And the responsible authorities in Bougainville claim they cannot do anything about it because the mining powers are still vested in the Papua New Guinea Government.
Prominent Bougainville leaders are allegedly involved in the gold smuggling scandal. Gold is being taken out through air and sea services, including through Gizo in Solomon Islands.
Bougainville police yesterday said they had not received any formal reports or complaints on the alleged smuggling but confirmed such an activity was being carried out.
On Wednesday night, a reporter was part of a three-way conversation about a dealer who had seven kilograms of gold dust ready to be sold to a Port Moresby-based prominent Bougainvillean yesterday through Air Niugini. The dealer said he had been trying to contact another dealer in Port Moresby but could not because he did not have enough Telikad units to call.
It appeared the dealer and the reporter know people in Port Moresby who buy gold from Buka, Arawa and Bougainville as a whole.
??there is gold dust and gold nuggets that we are dealing with here. You must know that Bougainville people are panning for gold, it?s alluvial gold.
?There is lead oxide absorption impurities and there are other techniques like acids, there is hydrochloric and sulphuric acids being used here and that is why it is difficult for one to understand how they are being taken out of the region,? the executive told the Post-Courier.
Yesterday, Bougainville business executive Thomas Rabanz said the issue of gold smuggling was one of the main agenda items in the Bougainville Business Association meeting in Buka on Wednesday. Concerns were raised for the ABG hierarchy to immediately and urgently act, based on the Constitution which stipulates all resources are owned by the people and come up with a strategy to ?stop this nonsense?.





Statement



Bougainville: K30 million Thieves Must Be Brought to Justice!





The European Shareholders of Bougainville Copper (ESBC) declared that they were absolutely not amused to read about the robbery of 500 kilograms of gold from Bougainville?s resources. ?We demand an unreserved investigation of that scandal,? said ESBC-Spokesman Mr Axel G. Sturm on Friday in Andorra. ?We expect that President Joseph Kabui - hopefully in cooperation with the police officers just arriving from Australia and New Zealand - will soon shed light on this shameful incident. We are very much upset because we imagine the good that could have been done for the Bougainvillean people with such the enormous amount of K30 million instead of filling the pockets of a few. For that we demand that those criminals are brought to justice where they should face a severe penalty!?



The ESBC would also like to know if there were indications that the recently implanted Canadian Invincible Resources is involved in that affair. Further the European Shareholders pointed out in their statement that only a fast re-opening of the Panguna mine by a big and experienced company like BCL can guarantee regular and controlled mining: ?Uncontrolled mining,? said Mr Sturm, ?always involves a danger to nature and may cause environmental damage that could not be repaired. We hope that all parties concerned in mining in Bougainville are aware of the seriousness of the actual situation and that they will soon get together and work on a solution for Bougainville that will avoid criminal activities like this in the future.?





Principality of Andorra, June 8th, 2007  



 

Hallo,
wer kann der Bevölkerung und speziell den Landeignern um Panguna beibringen, dass mit den gestohlenen 500 kg Gold bei weitem nicht das Geld erzielt werden kann, das bei Betrieb der Panguna Mine als Royalty anfallen würde. Und das ohne eine Schaufel oder sonstiges Werkzeug in die Hände nehmen zu müssen.
Auch das ruhige Gewissen der Allgemeinheit gegenüber ( kein Diebstahl und Steuereinnahmen für Bougainville und PNG) sollte schon Grund genug sein, endlich BOC eine Wiedereröffnung zu ermöglichen. Der Geldregen würde für ganz Bougainville eine Chance sein.
Tschüss
Gertschi
 

die haben gar kein interesse daran die mine wieder zu eröffnen, dann  würde ja diese private einnahmequelle wegfallen.  

Du sagst es, es hat hier nur noch keiner kapiert !

Mann ignoriert einfach diese Meldung,

für so etwas ist die Ignortaste aber nicht gedacht ! 

@ Sturm wieso sind bei Dir 500 Kg Gold nur die Hälfte wert???

Da merkt man, dass Du dich noch nicht lange mit Rohstoffwerten beschäftigst.

Also fassen wir zusammen, es gibt (welch eine Überraschung) immer noch Inselbewohner, die etwas gegen eine Ausbeutung durch BOC haben.

 

Saludos gehe in den Pool

 

#9855 von BOCandorra 08.06.07 13:10:34    Beitrag Nr.: 29.703.291  Dieses Posting:   versenden |  melden |  drucken |  Antwort schreiben |	BOUGAINVILLE COPPER LTD. (ADRS)
Folgende Antwort bezieht sich auf Beitrag Nr.: 29.702.189 von mani40 am 08.06.07 12:00:00 Lieber mani40 ! Du hast natürlich vollkommen Recht. Jedoch bedenke bitte, dass 500 kg Gold - wäre es Feingold - in etwa 10 Millionen US-Dollar entsprächen - wenn ich mich nicht verrechnet habe. Im Rohzustand wie hier schätze ich den Wert immer noch auf ungefähr 5 Millionen US-Dollar. Und das wären - wenn ich mich nicht irre - weit mehr als ein Jahrehaushalt des ABG.

.

__________________________________________________

Wieso soll Gold im Rohzustand nur die Hälfte wert sein?? 

 

Der Mann hat wirklich Ahnung!

 

 

Gold hat im Urzustand nur eine durchschnittliche Reinheit von 18-22 ct.Logisch dass ein Käufer dafür nicht den 24ct Unzenpreis bezahlt,es fallen schliesslich auch noch Raffineriekosten an,ganz abgesehen davon dass Abzockerfirmen wie Invincible die Landeigner noch dazu über den Tisch zu ziehen versuchen.

Ubrigens gab es schon immer Bewohner,welche nach Gold schürften,schliesslich gibt es ausser im Norden auf der ganzen Insel goldhaltiges Gestein.Auch zu BOC Zeiten wurden auf die Erlöse der Goldfunde der div Landeignerclans keine Steuern bezahlt,das ist also nichts Neues.

Den PC Artikel dahingehend zu interpretiert dass die Landeigner gegen Mining seien zeugt von Unkenntnis der wahren Sachlage.Vielmehr sollte man sich fragen wer den Artikel lanciert hat u. warum gerade JETZT. ;-)))

Kontakte hinter den Kulissen können dabei ganz hilfreich sein ;-)))  

Posting von Rentnerdasein ausgeblendet. Sie können Ihre Deny-Liste einmalig deaktivieren oder bearbeiten.

Es bleibt spannend.
Mal schaun was der Juni noch so bringt.......
NEWs = Volumen
Keine NEWs = Kein Volumen . . .. .  

http://www.postcourier.com.pg/20070612/tuhome.htm

BCL shareholders condemn theft

The European Shareholders of Bougainville Copper (ESBC) declared that they were absolutely not amused to read about the robbery of 500 kilograms of gold from Bougainville?s resources.
?We demand an unreserved investigation of that scandal,? said ESBC spokesman Axel G. Sturm on Friday in Andorra.
?We expect that President Joseph Kabui -? hopefully in co-operation with the police officers just arriving from Australia and New Zealand ? will soon shed light on this shameful incident.?
Mr Sturm said that the shareholders were upset because imagined the good that could have been done for the Bougainvillean people with such an enormous amount of K30 million instead of filling the pockets of a few.
?For that we demand that those criminals are brought to justice where they should face a severe penalty,? he said.
Further the European Shareholders said in a statement that only a fast re-opening of the Panguna mine by a big and experienced company like Bougainville Copper Limited could guarantee regular and controlled mining on Bougainville.  

Dear Axel:

This is an excellent low cost PR campaign which will be highly effective in:
- instilling fear amongst the ignorant and powerful ABG leaders who have
some wicked designs over the BOC leases
- slowly building public support in Bougainville for mine reopening

You now need to plan your next press release. A weekly press release if it
gets published in the Post Courier would be very helpful to the overall
cause.

Keep up the good work!
 

 

Das ist eine sehr gute Stellungnahme von Axel im P. C. zu den letzten Vorgängen - findet meine volle Zustimmung in Form und Inhalt. Chapeau + danke!

 

Axel,



Your comments are very much appreciated. The problem is that ABG is not out there monitoring the situation and it is a pity.



BCL reps are (Paul & John) visiting the ABG Acting Chief Administrator and Mr Steven Burein next week. This is the first ever proactive step that BCL has taken after the last AGM. Let's us wish them Good Luck.

 

Was bitte ist bei dir der Unterschied zwischen 500 Kg Gold und 500 Kg Feingold????

Bin schon auf Deine Antwort gespannt, vielleicht lerne ich ja noch etwas. 

Unter Deinen Aspekt werde ich wohl in Zukunft die Geschäftsberichte anders interpretieren müssen.

Dort berichten die Gesellschaften auch immer sie haben xxx tonnen Gold gefördert.

Da muss ich dann die Hälfte abziehen,    

mann ihr seit mir vielleicht so selbsternannte Spezialisten.

 Komisch ist nur, dass solch ein geschriebener, offensichtlicher Blödsinn, scheinbar nur mir auffällt.

Naja, bin eben schon zu lange im Geschäft.

Kopfschütteln

 

 

Kurs 0,90 AUD 0,56 ? 0,7580 USD VOL 139K Trades 17

Im Vorfeld der Gespräche ABG-BOC macht Kabui Druck auf PNG um die Mining Power zu übertragen ;-)))

http://www.postcourier.com.pg/20070613/wehome.htm

ABG may opt to use own powers

THE National Government is breaching the Bougainville Peace Agreement (BPA) when it is delaying the transfer of mining powers to the Autonomous Bougainville Government says ABG President Joseph Kabui.
Under Section 7 (a) of the BPA and Section 297 of the Bougainville Constitution and also in Part 14 of the PNG National Constitution it states ?that both Governments (PNG and ABG) shall agree on the transfer of whatever powers and functions which the ABG will be ready for ?in this case the mining and petroleum powers which the ABG asked to be drawn down?.
The ABG advised the PNG Government on the drawdown of these powers in June last year but the PNG Government is yet to respond.
Because of the delay on the PNG Government?s part, the ABG will not hesitate to implement its own mining policies and legislations which they already had in place.
Mr Kabui said he had a good discussion with Chief Secretary to Government Isaac Lupari and Mr Lupari assured the ABG that the process of transferring mining, petroleum and gas powers would be addressed immediately.
Mr Lupari did not respond to questions sent to him yesterday.
President Kabui said he was confident that the mining powers would be transferred soon. Mr Kabui returned from Australia where he met with lawyers from US based Berman and Hagan, Melbourne based Gordon aad Slater and PNG based Narokobi lawyers who are taking part in the class action law suit in the US courts on behalf of the Bougainvilleans.
ABG Mining Minister Mathias Salas and ABG principal legal adviser Kapeatu Puaria accompanied the president to Australia.
The purpose of the trip was for the lawyers to brief Mr Kabui and his delegation on the court case as well as get views on where the ABG stood on the case.
Mr Kabui told the lawyers that he acknowledged what they were doing but the ABG would distance itself from the case as the ABG was not a party to the case.
He said the legal case would be looked at carefully and the Bougainville Executive Council will also be briefed about it then the president can comment on the case. Mr Kabui said the ABG was ?still shopping around? for possible mining companies to go into Bougainville and they also wanted a company that would properly address environment issues and tangible benefits to the landowners, the ABG and the people of Bougainville.
He said the ABG would not also go to the Bougainville Copper Agreement review when Bougainville Copper Limited was insisting for the 1967 agreement on the Panguna mine to be reviewed.
He said any review on the Panguna mine would be on a ?clean sheet? as the Autonomous Bougainville Government was not a party to that (1967) agreement and if BCL wanted to review the 1967 agreement, the Panguna mine could remain shut for many years. ?We want to talk mining with a company that will listen to us and give back to the landowners and the people of Bougainville,? he said.

 

http://www.postcourier.com.pg/20070614/thhome.htm

Talks promised for B?ville mining

CHIEF Secretary Isaac Lupari has assured the Autonomous Region of Bougainville that he will call a meeting on the drawdown of mining powers to the Autonomous Bougainville Government.
ABG President Joseph Kabui said after returning from Cairns early this week, he had met with Mr Lupari to discuss the issue of the drawdown of mining powers to the ABG.
He said Mr Lupari had assured him that he would be calling a meeting this week to deal with this issue.
?After returning from Australia, I had some discussions with the Chief Secretary regarding the drawdown of mining powers to the Autonomous Bougainville government.
?Mr Lupari has assured me that as of this week he will be calling a meeting to address this issue,? Mr Kabui said.
?It is very pleasing that Mr Lupari is very concerned with this issue.
?He has assured me that he will try to address it quickly because it is part of the agreement between the national government and ABG,? Mr Kabui said.
During their discussions, Mr Kabui said he also discussed with Mr Lupari the issue of the heavy equipment that the Japanese Government was willing to fund for the people of Bougainville.
?We also discussed about the heavy equipment machineries that the Japanese Government is willing to fund for the people of Bougainville.
?This equipment, when delivered, will greatly help in maintaining our roads.
?Mr Lupari said he would take this matter up with the Department of Planning and Implementation, which is responsible for any dealings to do with donor fundings,? Mr Kabui said.
The president said the Japanese government was willing to provide the funds for the machineries.
However, they were waiting for the Planning and Implementation Department to give them the greenlight to buy the machineries to be delivered to the people of Bougainville.  

Viel wichtiger als die japanische Entwicklungshilfe erscheint mir dass Lupari noch diese Woche??? ein Meeting zur übergabe der Mining Power ans ABG terminieren will.

Wie jeder weiss kann man Kabui nicht gerade als BOC Freund bezeichnen,im Gegensatz zu Sam Akoitai.Nach seinen Besuchen bei den Anwälten machte er klar dass die "courts case" in USA die Privatangelegenheit einiger B'viller ist u. nicht vom ABG initiiert ist.

Gleichzeitig hat er klar gemacht dass das ABG nicht an marginalen änderungen am BCA interessiert ist sondern eine komplette Neuverhandlung will,welche die B'viller deutlich mehr am BOC Gewinn partizipieren lassen sollte als das bis 89 der Fall war..Nachdem er rd. 2 Jahre im Amt ist versucht er jetzt PNG unter Druck zu setzen,die Mining Power schnellstens ans ABG zu übertragen."THE National Government is breaching the Bougainville Peace Agreement (BPA) when it is delaying the transfer of mining powers to the Autonomous Bougainville Government"  ansonsten " the ABG will not hesitate to implement its own mining policies and legislations which they already had in place." Das scheint wohl die Voraussetzung zu sein damit die mit BOC terminierten Gespräche nächste Woche sofort in konkrete Verhandlungen übergehen können.
Den Aussies gefällts.Kurs 0,90 (0,5686? Vol 36K BID/ASK 0,90/0,935 VOL 49K/14K  

Wer genau ist denn nächste Woche bei den Verhandlungen dabei? BOC und ABG sind gesetzt, ist auch jemand von PNG dabei, bspw. Akotai? Der könnte doch sinnvollerweise den Oberaufpasser spielen, dass alles in geregelten Bahnen abläuft. Denn wenn PNG erst mal die mining powers an AGB übergeben hat, können die doch grundsätzlich machen, was sie wollen...