SPECIAL MINING LEASE OSIKAIYANG LANDOWNERS ASSOCIATION INC (5-4832)
Level 2, Karoona House
Panguna Town, Panguna District
Autonomous Region of Bougainville, Papua New Guinea
5 FEBRUARY 2019
PRESS RELEASE
DETAILED PUBLIC CONSULTATION AND REVIEW IS REQUIRED – THERE HAS BEEN NONE TO DATE
The Bill for the Bougainville Advance Holdings Limited Authorization Act references an agreement between the Autonomous Bougainville Government (“ABG”) and Bougainville Advance Holdings (AROB) Limited dated 31 January 2019.
Given the ABG intends to be a shareholder in this entity, this Agreement is a public document.
In the interests of complete transparency, disclosure and the standards of governance mandated under the Bougainville Peace Agreement, the Special Mining Lease Osikaiyang Landowners Association (“SMLOLA”) and the Panguna Landowners, call on President Momis and Mr McGlinn to immediately release all agreements which document the commercial and legal arrangements between Mr McGlinn, Caballus and/or the ABG.
The SMLOLA also calls for a fair period for public consultation and review, before the proposed Bill is voted upon. We should also have the benefit of independent reviews to ensure all aspects of the proposals are carefully considered and benchmarked against best practices to ensure we retain the confidence of the international investment community, whose support is critical to the future of Bougainville.
The three Bills introduced into Parliament have the effect of conferring a monopoly on all large scale mining in Bougainville, in favour of and for the benefit of just one foreign individual, Mr McGlinn, a horse breeder from Bullsbrook outside Perth, Western Australia, a person who has never developed a mine in his life and whose professional achievements have been criticised in the press. In so doing, these Bills seeks to remove the Constitutional and other rights of Customary Owners throughout Bougainville.
The Bougainville Mining Act took seven years of work with exhaustive public consultations with the advice of many experts and Mr McGlinn is demanding we tear it up, without any disclosure or opportunity for consultation, in a matter of days.
Based on the advice of specialist mining industry experts, SMLOLA believes the Caballus proposal will destroy the mining industry in Bougainville and that is not in the National interest of Bougainville or its people. We are at a critical juncture in our history and we now need to unite and move forward with respect and integrity – which these Bills are putting at risk.
SMLOLA calls for full transparency, full disclosure and a fair opportunity for public consultation, before voting on the three McGlinn Bills.
Philip Miriori
Chairman
Lawrence Daveona
Special Advisor – Former Chairman
- Forums
- ASX - By Stock
- RTG
- detailed public consultation and review is required - there has been none to date
detailed public consultation and review is required - there has been none to date
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RTG (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.1¢ |
Change
0.001(3.33%) |
Mkt cap ! $46.65M |
Open | High | Low | Value | Volume |
3.1¢ | 3.1¢ | 3.1¢ | $9.9K | 319.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 625000 | 3.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.5¢ | 483903 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 147828 | 0.038 |
3 | 400000 | 0.036 |
2 | 100000 | 0.034 |
1 | 500000 | 0.025 |
1 | 2500000 | 0.020 |
Price($) | Vol. | No. |
---|---|---|
0.040 | 66897 | 1 |
0.042 | 500000 | 2 |
0.044 | 700000 | 2 |
0.050 | 1010000 | 3 |
0.055 | 208000 | 1 |
Last trade - 10.08am 29/11/2024 (20 minute delay) ? |
RTG (ASX) Chart |