Bougainville Copper Emerging from the Ashes
The stock markets all over the world were extremely down on Monday while the stocks of Bougainville Copper (BCL) impressed by soaring more than 8 percent at the Frankfurt (Germany) stock exchange.
Background: Swen Lorenz, a well-known European analyst, had surprised the investor's public with a detailed in-depth-report (http://undervalued-shares.com) on the Rio-Tinto subsidiary that, until now, remained closed for nearly 20 years due to severe local unrest in the concerned Panguna district of the tropical island Bougainville (Papua New Guinea).
The so-called Panguna mine and seven other leases are owned by BCL (Rio Tinto 53.8%) and is supposed to be re-opened within the next three years after enduring intensive negotiations.
The Andorra based President of the European Shareholders of Bougainville Copper (ESBC), Mr. Axel G. Sturm, pointed out that Mr. Lorenz' analyses are very correct: "BCL is like a Phoenix reborn from the ashes!
The fair value of BCL shares is round about 30 AU$ once the mining is producing again." The ESBC-members expect the BCL shares rising up to five AU$ in a first step within the next six months. And Swen Lorenz compares BCL with Katanga Mining Limited in his report. Those shares rose in Toronto from 4 CA$ in April 2006 to 26 CA$ in August 2007.
17.12.2007 SCOOP (New Zealand)
Outstanding report on Bougainville Copper Limited
13.11.2007 THE NATIONAL (Port Moresby/PNG)
Cater for B’ville women: ESBC
THE European shareholders of Bougainville copper (ESBC) declared its solidarity to support Bougainvillean women with their claim they expressed in a meeting with representatives of the World Bank in Bougainville recently.
“For us, there is no question that the women must be included in decision-making on Bougainville,” ESBC president Axel G Sturm said last week.
“We consider the role of women as a pole of peace on the island.
“We agree totally that the actual problems in transportation, telecommunication, health service and education have to be resolved as soon as possible with the involvement of women in the decision-making,” he said.
Mr Sturm underlined that it was very important to destroy all guns on the island.
“But remember that there is also one other major weapon that has not been mentioned,” Mr Sturm said.
“The name of this weapon is corruption. Only if the people of Bougainville would learn that they must stand together and work together without taking profit for one person or one family only, they would be able to overcome the actual economic and social crisis.
“The re-opening of the Panguna mine would be a great step forward to a better future for all.
“All Bougainvilleans have to be realistic. Only agriculture will not pay the enormous amounts of money that are needed to bring a better future and work to the people of Bougainville,” he said.
“In fact new roads, hospitals, schools, public transport, telecommunication and a lot of other things that are needed to be paid with the income generated by Bougainville Copper Ltd,” he added.
06.11.2007 DOW JONES NEWSWIRES
INTERVIEW: Bougainville Copper Mine Long Way Off
By Elisabeth Behrmann
SYDNEY (Dow Jones)--Discussions to restart mining at Bougainville Copper Ltd.'s (BOC.AU) Panguna mine in Papua New Guinea are ongoing, but a resumption of mining activity on the autonomous island is still a long way off, the company secretary said this week.
"Discussions have been going on for a long time, but the mine is still a no-go zone," Paul Coleman told Dow Jones Newswires in a telephone interview, responding to press reports that the ongoing dialogue with the Papua New Guinea and autonomous Bougainville governments could soon lead to a formal renegotiation of the Bougainville Copper Agreement, which covered royalties and land access.
Anglo-Australian miner Rio Tinto Ltd. (RIO.AU) shut the Panguna operation in 1989 following attacks on infrastructure and after dissatisfaction among workers from the local population over royalty payments spiraled into open warfare on Bougainvill e Island, which resulted in the area becoming an autonomous zone.
Since talk of progress for Bougainville Copper hit the market, its share price has doubled to A$1.80, adding over 30% in the space of three trading days from late October to Nov. 1.
"Our discussions are focusing on general mining concepts, and while there is continual dialogue, it's difficult to talk about a restart of the mine. It's still a long way before any restart to mining activity," said Coleman.
Panguna produced about 180,000 metric tons of copper annually and at the time ranked as the world's third largest copper mine, but there has been no resumption of exploration or mining as site access is still off-limits despite the formation of an autonomous island government.
Rio Tinto owns 53.85% of the company, valued at A$603 million, and the Papua New Guinea government another 19.9%. The European Shareholders of Bougainville Copper, a group of individual private investors, is also pushing for a restart of the mine.
The capital cost to restart the mine is pegged around US$1.2 billion.
Mining contributes around 50% to Papua New Guinea 's exports, with petroleum and gas adding another 25%. Other companies active in the country include Lihir Gold Ltd. (LGG.T) and Barrick Gold Corp. (ABX).
04.09.2007 SCOOP (New Zealand)
Panguna: Now It Is Time for a Welcome-Zone!
In a short statement on Monday the president of the European Shareholders of Bougainville Copper (ESBC), Mr Axel G. Sturm said in France: “We are very satisfied, after years of agony, the Panguna district will become revitalized now.
The European friends of the Bougainville people and the investors in Bougainville Copper Ltd (BCL) will keep an eye on the future politics of BCL.
We want that the suffering of the people comes to an end and that everybody soon will live in prosperity with work and healthcare for all. Especially the fact that weapons will disappear now from the region makes me very happy.
If ABG-president Joseph Kabui succeeds in transforming Bougainville into a prosperous and secure country he will enter in history as a great leader.
BCL and the European Shareholders will do their very best that Bougainville will become one of the nicest places in the world to stay in. So let us stand together and work on a better Bougainville.
Remember: BCL is the best brand for the island that will soon been known all over the world for peace, prosperity and intelligent politics. Now, after the roadblocks are lifted, it is time that the ABG, the Me’ekamui and the landowners declare Panguna a welcome-zone.”
In Frankfurt Bougainville Copper Ltd. rose 12 percent to 0,55 € today!
30.08.2007 SCOOP (New Zealand)
Ladies and Gentlemen,
it's a great pleasure for me to announce that the famous European analyst, Mr. Swen Lorenz, just published a in-depth-report on Bougainville Copper Limited. You can find his analyses here: http://www.undervalued-shares.com/
On 95 pages Mr. Lorenz analyses the true value of one of the biggest copper, gold and silver assets of the world. The share price of Bougainville Copper doubled within the last 6 months and is supposed to rise further in the next weeks.
The European Shareholders expect even a share price of 30,00 AUD (20,00 €) in 5 years from now.
The actual price per share is 1,44 AUD (0,88 €) in Sydney.
Please read that outstanding report attentively.
With best regards
Axel G. Sturm
Principality of Andorra, December 17th, 2007