Notice to ASX
23 April 2018
Status of Exploration Licence EL 1
Bougainville Copper Limited (BCL) currently remains the holder of EL 1.
The Autonomous Bougainville Government, through officers of the Department of Mineral and Energy Resources had notified BCL in January that BCL’s application for extension of EL 1 had been refused. On 10 April 2018 BCL was granted leave by the National Court of PNG to seek a judicial review and, the decision to refuse the extension was also stayed.
Accordingly, BCL’s extension application of EL 1, lodged in May 2016, remains undecided with the consequence that EL 01 is deemed to have been extended, pending any final determination of the judicial review by the courts.
SML Osikalyang Landowners Association (SMLOLA)
The leadership dispute within a landowner association concerned with the former SML1, and certain individual landowners, remains unresolved. That matter is currently before both the PNG National and Supreme Courts and subject to mediation.
BCL is fully engaged with landowner representatives in the EL1 area and remains in dialogue with them.
Victorian Supreme Court proceedings
As mentioned in our Annual Report, BCL has also commenced proceedings in the Supreme Court of Victoria, Australia, seeking discovery of documents from RTG Mining Inc. and Central Exploration Pty Ltd relating to its relationship with SMLOLA.
BCL will continue to keep the market informed of any developments in respect of these matters.
By Order of the Board
Mark Hitchcock
Company Secretary