Bougainville Copper Limited · ASX:BOC
Bougainville Copper — Shareholder Meeting (May 2018)
16 slides from Bougainville Copper's shareholder meeting presentation, May 2018
Slide 1: Annual General Meeting 2017
Annual General Meeting 2017 (q BOUGAINVILLE COPPER LIMITED
Slide 2: Slide 2
Slide 3: Overview: Key Milestones
Overview Key Milestones ✓Hired Bougainville manager and local project team ✓Opened office in Buka ✓First board meeting in Bougainville in over 27 years ✓New board appointments ✓Settlement of 1990/91 landowner compensation
Slide 4: Notable Challenges
Notable Challenges ➢Competitors undermining BCL position ➢Decision not to grant extension of EL1 ➢Ongoing court proceedings – Judicial Review ➢Mining reservation over tenement area
Slide 5: Financial Results
Financial Results Year Ended December 31, 2017 ❑Loss after tax K7.30m – (budgeted K15.2 m) ❑Income K7.63m – (includes sale of investments) ❑Operating expenses K14.83m – (2016: K11.52m) ❑Company remains debt free
Slide 6: Liquid and Total Assets
Liquid and Total Assets ❑Investments K119.02m (Australian listed equities) ❑‘Available for sale assets’ – K12.00m ❑Cash and equivalents K2.51m ❑Total assets K136.56m
Slide 7: Tenure – Exploration Licence (EL1)
Tenure – Exploration Licence (EL1) • Applied for extension (July 2016) • Renewal application obligations met (January 2017) • Mining Warden’s Hearing (December 2017) • Decision not to grant extension (January 2018) • Judicial Review process (Ongoing) ➢ Rights held until matter determined
Slide 8: Community Engagement
Community Engagement ❑ Bougainville Chocolate Festival ❑ National Boxing Championships
Slide 9: Bougainville Update
Bougainville Update ❑Referendum an increasing focus ❑Maintaining social harmony – factor in EL1 decision ❑The ABG explores economic opportunities ❑Panguna redevelopment can help realise potential ❑BCL committed to positive/constructive engagement
Slide 10: Bougainville Copper Board
Bougainville Copper Board ➢ August 2017: Landmark board meeting in Bougainville ➢ October 2017: Melchior Togolo and Peter Graham appointed ➢ November 2017: Chairman Robert Burns advises of decision to retire ➢ February 2018: Mr Togolo accepts nomination of Chairman
Slide 11: Shareholding
Shareholding ❑State of PNG and ABG equal largest shareholders (each with 36.4%) ❑PNG Prime Minister proposed to gift 17.4% to Bougainville people ❑Final status of 17.4% yet to be resolved
Slide 12: 1990/91 Landowner Compensation
1990/91 Landowner Compensation ✓Comprehensive process followed ✓Excellent progress during 2017 ✓2,123 payments totalling K14.6 million to landowners and families ✓96% of payments now made
Slide 13: Bougainville Copper Foundation (BCF)
Bougainville Copper Foundation (BCF) ❑Wholly-owned subsidiary of BCL ❑Sponsor 15 new students in 2018 ❑ 34 existing students continuing ❑BCF has limited liquid assets – supported through BCL loan account
Slide 14: Governance and Health and Safety
Governance • ASX compliance statement in Annual Report • Charters and policies on web site • Remuneration and Nominations Committee formed Health and Safety • Strong emphasis on workplace risk management o ie travel planning and incident reporting
Slide 15: Conclusion & Looking Ahead
Conclusion & Looking Ahead ❑Further challenges ahead ❑Pursue tenure in shareholder interest ❑Committed to constructive engagement ❑Persist for the right reasons ✓ Promote BCL as most credible developer of Panguna Shareholder updates will be posted on web site and via ASX
Slide 16: Questions
Questions