Bougainville Copper Limited · ASX:BOC
Bougainville Copper — Shareholder Meeting (April 2017)
22 slides from Bougainville Copper's shareholder meeting presentation, Apr 27, 2017
Slide 1: Press Release
Press Release 27 April 2017 Company Announcements Office Australian Stock Exchange Dear Sir/Madam, Annual General Meeting – 27 April 2017 Bougainville Copper Limited The attached material was presented at the Annual General meeting in Port Moresby, Papua New Guinea today. This presentation will in d
Slide 2: Chairman's Address to the Annual General Meeting
Chairman’s Address to the Annual General Meeting of Bougainville Copper Limited 27 April 2017 The Annual General Meeting is an opportunity for me as chairman to make a statement concerning the up to date affairs of the company. Copies of this statement are available here today and will be posted on
Slide 3: Staged Redevelopment Plan - Stage zero remove impediments to development
Staged Redevelopment Plan - Stage zero remove impediments to development Bougainville Copper’s staged re-development plan is available on our website. In summary the plan comprises four stages • Stage zero Removal of five impediments for development. • Stage 1 Demonstrate project viability and susta
Slide 4: Bougainville update
Bougainville update Bougainville Copper has increased engagement with Bougainville stakeholders and relationships continue to develop and strengthen. We are in the process of establishing an office in Buka. An office has been leased and the selection of the position of Manager Bougainville is being
Slide 5: Conclusion
Conclusion I have outlined the significant progress, as an independently managed PNG company, has been achieved recently in the staged development of New Panguna. The outlook is optimistic with the staged development having been embraced by Landowners, ABG and the National Government, and through th
Slide 6: Welcome to the 2017 Annual General Meeting
Bougainville Copper Limited Welcome to the 2017 Annual General Meeting
Slide 7: 2017 AGM Presentation
2017 AGM Presentation 27 April 2017
Slide 8: 2016 Financial Results – parent company
2016 Financial Results – parent company • Year ended December 31, 2016 • Loss after tax of K5.231 million (2015 K37.863 million) • Revenue from interest and dividends of K6.3 million (2015 K4.8 million) • Operating expense for the year was K11.5 million (2015 K11.3 million) • Liquid assets cash and
Slide 9: 2016/17 milestones represent outstanding progress
2016/17 milestones represent outstanding progress Outstanding progress as independently managed PNG company • Compliance and efficient transition to an independently managed PNG company • Appointment of Sir Moi Avei as Director • Preparation of proposal for staged development of New Panguna mining p
Slide 10: Rio Tinto Divestment - a new era for BCL
Rio Tinto Divestment - a new era for BCL • Changed shareholding • Board changes • Independent management • Re affirmation of vision Return to active exploration and profitable sustainable mining. The New Panguna mining project will be for the benefit of the stakeholders.
Slide 11: Bougainville Copper Board
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Slide 12: BCL's Staged Development Plan – endorsed and underway
BCL’s Staged Development Plan – endorsed and underway • Stage zero Remove impediments for development • Stage 1 Demonstrate project viability and sustained strong support to secure funding for bankable feasibility study • Stage 2 Undertake bankable feasibility study, obtain permits & approvals and s
Slide 13: BCL Chairman Presentation to ABG in Buka – 22nd February
BCL Chairman Presentation to ABG in Buka – 22nd February
Slide 14: Stage zero – Material progress being achieved
Stage zero – Material progress being achieved • ABG and Landowner formal support and commitment - President Momis” The ABG and the landowners have committed to addressing the immediate challenges to progressing the Panguna project and look forward to working in partnership with BCL” • Agreement betw
Slide 15: Joint Steering Committee (JSC) – a major milestone
Joint Steering Committee (JSC) – a major milestone • In April President Momis and Prime Minister O’Neill agreed to the establishment of the JSC – ‘to manage sovereign risk and take meaningful steps to start feasibility work’ • JSC will have joint representation from the Landowners, ABG and National
Slide 16: 1990/91 Landowner Compensation – successful
1990/91 Landowner Compensation – successful • Comprehensive and rigorous process jointly managed by ABG and BCL • Wide distribution involving 2123 payments • Community have validated payments before release • Total payments of K14.5 million, 65% complete and due to be finalised by Q3 2017 • ABG and
Slide 17: Compensation Community forum photos
Compensation Community forum photos
Slide 18: Bougainville Update
Bougainville Update • BCL continues to develop and strengthen relationships with frequent engagements • Establishing a Buka office and recruiting Manager Bougainville • Broad community support evidenced • Outspoken BCL detractors the most vocal have competing interest in our Panguna mineral rights •
Slide 19: Bougainville Copper Foundation
Bougainville Copper Foundation • BCF is a not for profit subsidiary of BCL • In 2016 funded over 100 tertiary scholarships for Bougainville students • Budget for 2017 is K860,000 for 96 scholarships • Review of BCF activities planned for 2017
Slide 20: Governance
Governance • Developed a set of new company policies as an independently managed company • BCL complies with these policies • Company’s compliance with ASX Corporate Governance Principles and Recommendations is contained in the annual report
Slide 21: Safety and Risk Management
Safety and Risk Management • BCL believes that a safe and healthy workforce is essential to business success and sustainability • BCL is committed to achieving zero harm • No reportable injuries in 2016 • BCL undertakes regular risk assessments to identify and manage risks and opportunities facing t
Slide 22: Conclusion
Conclusion • Significant progress in the staged development of the New Panguna mining project • Optimistic outlook – staged development has been embraced by Landowners, ABG and the PNG government. Formation of the JSC a major mile stone • Conscious of the challenges ahead in demonstrating an attract
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