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The future of the Panguna mine, page-13

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16/05/18

20:00

Post #: 33144868
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Originally posted by Danehill ↑

Sorry, do you guys just like posting for fun? Do you at all understand the situation or just blindly accept the press releases that regularly appear from BCL?

First, does anybody know what these so-called customary heads are or are you just guessing?
They are in fact 'nominees' set up originally in 1967 by BCL to overcome the diversity, remoteness & illiteracy of some of the actual land-owners. They own nothing, they have no title, they are just 'nominated representatives'.

Fast forward to 2018 & these 'customary heads' still see themselves as relevant. They aren't. The actual title holders are the relevant land-owners & they are the people who count. The only 'customary heads' who count are those that are also actual title holders.

The SMLOLA has the support of the vast majority of these actual title holders. It is my understanding that of over 360 actual title holders there are less than a handful still holding out against the SMLOLA. That is a huge majority in anyone's language.

Just read that last statement by locals that I posted. They actually said 'BCL are not welcome in our village'. How direct do you want them to be.

Second, BCL are asserting, in their court case, that the ABG has no right to overule the old Mining Act & that, because of that original Mining Act, they have a first right of refusal over EL1, the Panguna mine. That's like saying a newly elected government in Australia cannot amend, reverse or cancel legislation enacted by a previous government. That is plainly hilarious & ridiculous to any rational person.

A compromise between the Central Me'kamui JV (of which RTG is part) & BCL will not happen. Remember, it's the titled land-owners resource, they are part of the consortium & will not have a bar of BCL.

The 2 court cases are interesting but should mainly be seen as BCL throwing their shareholders funds onto a bonfire for spite. Sooner or later the major shareholders, or shareholder depending on who really has the shares (see Blackskinpla's posts), will wake up to this & fix it. Hopefully, before BCL spends everything in the kitty on legal fees rather than doing some restoration or community work in the badly effected areas.

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I will respond to this shortly but under the original topic heading which was the RTG ASX release Management Discussion and Analysis

RTG Price at posting: 11.5¢ Sentiment: None Disclosure: Not Held
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