revue de presse 2012
22.03.2012
Source: Island Business
Reopening of Bougainville mine will pay off shareholders
Papua New Guinea must change into a “land of the expected” European Shareholders of Bougainville Copper Ltd (BCL) president Axel Sturm said yesterday.
BUKA, PNG Papua New Guinea must change into a “land of the expected” European Shareholders of Bougainville Copper Ltd (BCL) president Axel Sturm said yesterday. And he unsurprisingly believes significant government investment into reopening the Panguna mine will pay off. While there has been uncertainty over whether the Panguna mine will ever reopen since it closed down in 1989 before the subsequent civil war, ESBC is concerned that BCL shares are becoming prey to short sellers due to the recent political instability in PNG. “It has a new Prime Minister (Peter O’Neill) elected by an overwhelming majority in Parliament while an old stubborn prime minister [Sir Michael Somare] cannot accept having been ousted,” Sturm said. “Unfortunately, the new prime minister’s Deputy (Belden Namah) contributes to this situation by making irritating statements from time to time. “This fires foreign investors’ confusion.” PNG’s parliament has passed the long-heralded sovereign wealth fund designed to safely manage windfall government revenues from the PNG LNG project, especially through offshore investments to avoid causing even more local inflation. But Sturm said that Sovereign Wealth Fund investment into PNG industries would be a great signal to investors worldwide. In what would also lift his own share portfolio, Mr Sturm would like to see the PNG government increase its stake in BCL (about 19%) and even buy more shares to give the Autonomous Bougainville government its first stake. “I imagine if PNG/ABG hold up to 25 % or even more in BCL, both would be keen to increase their stake’s value by fast-tracking the reopening [of] the Panguna mine,” Mr Sturm said. “A strong investment in BCL shares by PNG would be understood by investors as PNG’s commitment to a better economic future. “Investors are watching out for security of their investment – uncertainty is poison. “Certainty is strongly needed now,” he added. The Frankfurt Stock Exchange has become the leading stock market for trading BCL shares which are also Australian Securities Exchange-listed. 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. 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. Rio Tinto owns around 54% of BCL.
21.03.2012
Source: Post-Courier
Reopening of mine will pay off shareholders
PAPUA New Guinea must change into a “land of the expected” European Shareholders of Bougainville Copper Ltd (BCL) president Axel Sturm said yesterday.
And he unsurprisingly believes significant government investment into reopening the Panguna mine will pay off.
While there has been uncertainty over whether the Panguna mine will ever reopen since it closed down in 1989 before the subsequent civil war, ESBC is concerned that BCL shares are becoming prey to short sellers due to the recent political instability in PNG.
“It has a new Prime Minister (Peter O’Neill) elected by an overwhelming majority in Parliament while an old stubborn prime minister [Sir Michael Somare] cannot accept having been ousted,” Sturm said.
“Unfortunately, the new prime minister’s Deputy (Belden Namah) contributes to this situation by making irritating statements from time to time.
“This fires foreign investors’ confusion.”
PNG’s parliament has passed the long-heralded sovereign wealth fund designed to safely manage windfall government revenues from the PNG LNG project, especially through offshore investments to avoid causing even more local inflation.
But Sturm said that Sovereign Wealth Fund investment into PNG industries would be a great signal to investors worldwide.
In what would also lift his own share portfolio, Mr Sturm would like to see the PNG government increase its stake in BCL (about 19%) and even buy more shares to give the Autonomous Bougainville government its first stake.
“I imagine if PNG/ABG hold up to 25 % or even more in BCL, both would be keen to increase their stake’s value by fast-tracking the reopening [of] the Panguna mine,” Mr Sturm said.
“A strong investment in BCL shares by PNG would be understood by investors as PNG’s commitment to a better economic future.
“Investors are watching out for security of their investment – uncertainty is poison.
“Certainty is strongly needed now,” he added.
The Frankfurt Stock Exchange has become the leading stock market for trading BCL shares which are also Australian Securities Exchange-listed.
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.
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.
Rio Tinto owns around 54% of BCL.
14.03.2012
Source: PNGindustrynews
| Uncertainty is poison: Sturm |
 |
by Blair Price
Wednesday, 14 March 2012
EUROPEAN Shareholders of Bougainville Copper president Axel Sturm says Papua New Guinea must change into a “land of the expected” and unsurprisingly, he believes significant government investment into reopening the Panguna mine will pay off.  | | | | European Shareholders of Bougainville Copper president Axel Sturm |
While there has been uncertainty over whether the Panguna mine will ever reopen since it closed down in 1989 before the subsequent civil war, ESBC is concerned that Bougainville Copper shares are becoming prey to short sellers due to the recent political instability in PNG.
“It has a new Prime Minister [Peter O’Neill] elected by an overwhelming majority in Parliament while an old stubborn prime minister [Sir Michael Somare] cannot accept having been ousted,” Sturm said.
“Unfortunately, the new prime minister’s Deputy [Belden Namah] contributes to this situation by making irritating statements from time to time.
“This fires foreign investors’ confusion.”
PNG’s parliament has passed the long-heralded sovereign wealth fund designed to safely manage windfall government revenues from the PNG LNG project – especially through offshore investments to avoid causing even more local inflation.
But Sturm told PNGIndustryNews.net that SWF investment into PNG industries would be a great signal to investors worldwide.
In what would also lift his own share portfolio, Sturm would like to see the PNG government increase its stake in Bougainville Copper (about 19%) and even buy more shares to give the Autonomous Bougainville government its first stake.
“I imagine if PNG/ABG hold up to 25 per cent or even more in Bougainville Copper, both would be keen to increase their stake’s value by fast-tracking the reopening [of] the Panguna mine,” Sturm said.
“A strong investment in Bougainville Copper shares by PNG would be understood by investors as PNG’s commitment to a better economic future.
“Investors are watching out for security of their investment – uncertainty is poison.
“Certainty is strongly needed now.”
The Frankfurt Stock Exchange has become the leading stock market for trading Bougainville Copper shares which are also Australian Securities Exchange-listed.
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.
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.
Rio Tinto owns around 54% of Bougainville Copper. |
07.03.2012
Source: Radio New Dawn on Bougainville
Site on
By Aloysius Laukai
Our site came live again thanks to the European Shareholders of BCL who assisted us with the payment of our accounts.
The management and staff of New Dawn Fm on Bougainville do appreciate your contribution when we can not do it from Bougainville due to technical difficulties.
We will update this site again.
Our viewers have been asking why the has not been updated for some time now.
Thanks to Axel Sturm
01.03.2012
Source: Post-Courier
European BCL shareholders to stop short-selling of shares
THE European shareholders of the Bougainville Copper (ESBC) have sent out a warning to declare war on short selling of shares in the Bougainville Copper Limited.
President of the ESBC, Axel Sturm, sent out the warning from Andorra yesterday.
“We want to stop fraudulent manipulation in BOC/BOU1 shares,” Sturm said.
Bougainville Copper shares are supposed to have a fair value of A$30 to A$50 (K66.83 to K111.38). 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 per cent of BCL are in free float (the international mining giant Rio Tinto owns 54 per cent and the state of Papua New Guinea 19 per cent).
For several months now the share price of BCL (BOC/BOU1) has been pushed down heavily by short sellers,” Mr Sturm said.
“Since the beginning of 2011 it has been more than 60 per cent after all”
He said 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.
“Therefore we ask all shareholders BCL to put their shares at a high price (A$25 to A$30) for sale,” he said.
“This will prevent custody banks from using these shares for un-authorized lending to short sellers.
“Short selling generated huge losses in Bougainville Copper shares within the last year.
“As a result of short selling the share price plunged under A$ 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.”
He said that this “ban”, however, is undermined by U.S. and other traders and successfully circumvented.
Giving its background, Mr. Sturm said 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 Australian Stock Exchange is powerless because this business is conducted in a semi-legal but grey area and therefore very difficult to prove,” he said.
“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.”
01.03.2012
Source: PNG Attitude
European shareholders war on BCL short selling
THE EUROPEAN SHAREHOLDERS of Bougainville Copper (ESBC) have asked all shareholders in Bougainville Copper (BCL) to pitch their shares at a high price ($25-30) to prevent custody banks from using them for unauthorised lending to short sellers.
“We want to stop fraudulent manipulation in [Bougainville Copper] shares,” says ESBC President Axel G. Sturm.
“Short selling generated huge losses in Bougainville Copper shares within the last year”, he said.
“As a result the share price plunged under $1 since January 2011. This happened although all news flowing 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,” he stated optimistically.
According to Mr Sturm, who is based in Andorra, Bougainville Copper shares are supposed to have a fair value of $30-50.
“The exact price – of course – depends on the actual market prices of copper, gold, silver and molybdenum,” he said.
“On the other hand BCL is highly vulnerable to market manipulation: less than 30 percent is in free float (the international mining giant Rio Tinto owns 54% and the state of Papua New Guinea 19%.”
29.02.2012
Source: PNGindustrynews
Another Bougainville rumour spree
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%.
07.02.2012
Source: Post-Courier
Panguna’s European shareholders upbeat
THE European shareholders of the Bougainville copper mine (ESBC) are predicting a high level share price this year despite “volatile markets”.
ESBC head Axel Sturm said yesterday in a statement this is because Bougainville and the PNG Government expect positive developments and good investment strategies all through the year.
“The real value of the Bougainville Copper share price can certainly be assessed in a more realistic way. This means that at the first sign of good news the stock will possibly hit the high levels from last year, or even surpass them,” Mr Sturm said.
“Since January 2011 the share price of Bougainville copper has gone downhill.
“Up until today the stock has lost about 75 percent of its worth and is currently quoted at a level not seen since the discontinuation of the ADR (American Deposit Receipt) programme. Australians were hit particularly hard.
“Europeans, Americans and owners of Singapore Dollars were less affected because of the increasing strength of the Aussie dollar. The so-called euro crisis and the announcement of the huge debt burden of the United States have shaken the financial centers of the world to the bone. Contradictory messages about the future demand of copper in China and home-made political power plays in PNG have added to further volatile markets.
“The 2012 has started with all imaginable negative factors already priced in; however, investors should not forget to include all positive developments of the recent months into their investment strategies.
He said the upcoming joint supervisory board meeting in Buka and the subsequent National Executive Council meeting in Arawa will also help to give additional attention to Bougainville.
ABG President Momis has announced the impending visit to Panguna of a high-level delegation headed by Prime Minister Peter O’Neill.
This also suggests that additional steps towards the reopening of the Panguna mine will be discussed and decided, Mr Sturm said.
“Presumably, in this context, the first official visit of John Momis to Panguna will also take place,” Mr Sturm said. “It can further be assumed that this will also mark the beginning of the review of the Bougainville Copper Agreement, as was announced by ABG Vice President, Patrick Nisira a few weeks ago. After years of deliberations, the Panguna landowners have drafted a ‘new deal’, one that is likely to accelerate the reopening of the mine.
“Thereafter, representatives of Bougainville Copper probably make first visits in order to take stock of Panguna. Consequently, the opening of a Bougainville Copper representative office at Arawa would be on top of the agenda. As a logical conclusion from the above hard facts, the following can be summarised, the real value of the Bougainville share price can certainly be assessed in a more realistic way.
“This means that at the first sign of good news the stock will possibly hit the high levels from last year, or even surpass them.
From today’s perspective (AUD 0.74 on 02.03.2012) it appears that a doubling of the current price is a sure shot and a scenario of tripling or even quadrupling is not unrealistic.”
