Todd Lewis
Listing Compliance Adviser
ASX Limited
525 Collins Street
Melbourne VIC 3000
AUSTRALIA
Via email:
Dear Todd
Bougainville Copper Limited (BOC) Price Query ODIN46800
We acknowledge your letter dated 11 February 2022 noting:
A. The change in the price of BOC’s securities from a low of $0.455 to a high of $0.550 today.
B. The significant increase in the volume of BOC’s securities traded from 10 February 2022 to 11 February 2022.
C. The article published on the Autonomous Bougainville Government website entitled ‘Panguna Landowners and ABG agree to reopen Panguna Mine’ dated 11 February 2022.
In response to your questions, we advise:
1. No, BOC is not aware of any information that has not been announced to the market which could explain the recent trading in its securities.
2. Not Applicable as the answer to question 1. was No.
3. We have answered No to question 1 and provide the following:
We understand the article published relates to resolutions passed during a Panguna landowner summit that was supported by the ABG. The landowners appear to have agreed to work cooperatively with the ABG to reopen the Panguna Mine.
According to the article the resolutions were endorsed by the chiefs of the five major Panguna clans and the ABG will now work with landowners to facilitate a process towards reopening.
If the article is a fair representation of the events, then this would appear to demonstrate unity amongst the landowners and, would also boost confidence in the Autonomous Region of Bougainville as it pursues economic independence.
BOC was not involved in the landowner summit nor was it referenced in the ABG article.
There is no change in the status of the shareholdings of the Autonomous Bougainville Government (ABG) and Papua New Guinea Government (GovPNG) shareholdings in BOC. The GovPNG’s commitment to transfer their shares to the ABG remains pending and both Governments continue to hold 36.4% each, of the shares in BOC.
The Judicial Review of the ABG’s decision not to renew the Exploration licence over Panguna remains in process and we anticipate proceedings to commence in the first quarter of 2022.
4. BOC remains compliant with the listing rules, and in particular, Listing Rule 3.1.
5. BOC’s response to this information request has been authorised and approved in accordance to our published continuous disclosure policy.
Yours sincerely
Bougainville Copper Limited
Mark Hitchcock
Company Secretary