Exepreneur’s Post

There are 6600 mines on care in SA. That's means the assets are parked. Why - the Mineral Rights left SA. Eg. The Marshall Town Syndicate - a consolidation of MR 567 - left SA for R1000. Historically - the buildings in JHb - the City - was estab by the African City Property Trust( UK 1890) - acquired by Glazer 1949. Silent in history is the acquisition of Central Mining & Investment Corp UK - Rand Mines 1958 - by Glazer - which was the ", manager of the TVL Land Co & TVL Consolidated Land Co - both reg around 1914& 1917. Glazer also acquired all the BSA Chartered Co, s - 1950-60 ( 5) - which owned millions of sq miles of Mineral Rights in SADC. Glazer nuked 1984 - Estate ( Glazer Will Trust) finalised for a mere R240.m in Nov 05. Simply - SARS ( BIU) ( 2005-08) - let all the assets out the back door. Dubbed the Rogue Unit - later exonorated - the SA Gov let all the assets out. Why? Collateral Trades offshore. Who was Finance Minister & CEO of SARS 2005-08? Going forward - you have to reconcile the past - because it all comes down to Grand Fraud. Add Water pollution ( downstream) from mines on care & a century of Mining. Every major Mineral Co has externalised 2006-08 - the last to leave was Lonhro via Sillwater Sybanye - a legacy acquired by Glazer 1957. That sums up the mess

SHARE PURCHASE PLAN OFFER WITH ATTACHING JMEI CREDITS West Australian-based explorer E79 Gold Mines Limited is pleased to offer each E79 Gold shareholder, who is registered at 5:00pm (WST) on 27 May 2024 in Australia or New Zealand, an offer to subscribe to a Share Purchase Plan (SPP) for additional shares in E79 Gold at $0.035 per share. The SPP is intended to raise up to $750,000 with funds raised to be used to towards exploration at the newly acquired Mountain Home Copper-Gold Project in the Northern Territory, exploration programs on the Jungar Flats Project in the Murchison and the South Laverton Project, and for working capital purposes. In June 2023, E79 Gold was successful in in its application for participation in the Federal Government’s Junior Minerals Exploration Incentive (JMEI) scheme for the 2023/2024 income year. The Company has received an allocation of up to $1,200,000 in tax credits which may be distributed to eligible investors. E79 Gold remains well funded for its exploration activities. However, E79 Gold are also aware of the potential benefits that tax credits from the JMEI can provide for our Shareholders. By participating in the SPP, you may be able to take advantage of these credits, while also providing funding for further exploration programs for E79 Gold. These tax credits are anticipated to be approximately 1.05 cents per SPP Share and provides Eligible Shareholders with a very attractive effective discount on the subscription share price when the tax credit is included

Shares in Bougainville Copper Limited (ASX: BOC) surged by 64.3% to A$0.575, their largest intraday gain since February 2022, following a five-year extension granted for its exploration license in the Panguna copper-gold project on Bougainville Island in the South Pacific. The Panguna mine, once operated by Rio Tinto (ASX: RIO), closed in 1989 due to civil unrest and conflicts, with concerns about mine revenue and pollution. A peace agreement in 2001 and a 2019 referendum on independence paved the way for its potential revival. While Rio Tinto divested its stake in 2016, estimates suggest it could cost $5-6 billion and 7–8 years to rebuild and fully operate the mine, which still holds substantial copper and gold reserves. Bougainville Copper's stock closed at A$0.80, marking a 128% increase and its highest level since November 2023. We, too, had to Google where in the world this was — very close to Papua New Guinea. A bit of a mining revival in the region, and we love to see it. Want to Learn More? #TheNextBigRush

𝗣𝗿𝗶𝗺𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗠𝗮𝗿𝗮𝗽𝗲 𝗨𝗿𝗴𝗲𝘀 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗔𝗰𝘁𝗶𝗼𝗻 𝗼𝗻 𝗪𝗮𝗳𝗶-𝗚𝗼𝗹𝗽𝘂 𝗠𝗶𝗻𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝘁𝗼 𝗨𝗻𝗹𝗼𝗰𝗸 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 Read the full story here:https://lnkd.in/gv5_r9sU Prime Minister Hon. James Marape has underscored the urgency of finalising the Mine Development Contract (MDC) and issuing the Special Mining Lease (SML) for the Wafi-Golpu Mine in Morobe Province, stressing that time is running out to get this critical project off the ground. During a high-level meeting with the State Negotiating Team, Joint Venture Partners Newmont and Harmony, Deputy Prime Minister Hon. John Rosso, and Mining Minister Hon. Wake Goi, Prime Minister Marape emphasised the importance of immediate action. “Time is ticking away. As a nation, we have collectively agreed that the Wafi-Golpu project must move forward—on terms that are in line with our laws and policies, especially those that ensure the State and Papua New Guinea secure 55 percent of the project’s economic benefits. I am pleased that the Framework Memorandum of Understanding (MoU), which was signed in 2023, honors this commitment. The project contains over 12 million ounces of gold and three million tonnes of copper. It is a significant undertaking expected to extend beyond 60 years. However, we have agreed to a 40-year lease, contingent on the joint venture partners commencing the project within two years of the SML issuance,” the Prime Minister stated. Reflecting on past delays, Prime Minister Marape lamented the significant time lost due to legal proceedings and reiterated that further delays were no longer an option. “I want to make it absolutely clear: we cannot afford to lose any more time. The Wafi-Golpu project must advance without further delay. This is a project of national importance, and moving forward on key milestones is critical to the country’s economic progress. The Prime Minister set a firm deadline, stating that the MDC and SML for Wafi-Golpu must be finalised before the 2024 Papua New Guinea Investment Week, which is scheduled to take place in Sydney, Australia, from December 6-11. “The Framework MoU signed in 2023 is our roadmap, and it is time to act,” he added. Prime Minister Marape also highlighted the need to respect the patience of landowners and the Morobe Provincial Government, represented by Governor Hon. Luther Wenge, who have waited for years to see the project begin. “We cannot continue to hold them in suspense. Delaying any further will only invite frustration and discontent from landowners and local authorities,” Prime Minister Marape warned. Key provisions under the Framework MoU include: The State and Papua New Guinea receiving 55 percent of the project’s economic returns.

On the anniversary of Brumadinho’s dam failure, we remember the 270 lives lost and the devastating consequences to the community and region below. Since that day. Ongoing reparations continue, new standards were developed, a lot (A LOT!) of work throughout industry to collaborate and refine/define/update guides and conformance requirements, even more work by all owners to review their own facilities to identify and address risks, and as reported below, commitment to raising the bar in protecting lives. All throughout these efforts, we’ve been supporting the professional network with contributions and collaborations on risk and tailings educational workshops and course developments, sharing knowledge in the ways we know best, developing our “all-in-one” dam/tailings management governance platform, and running site-specific risk workshops with teams. If you need some help, give us a ring! #tailingsmanagement #riskreduction #safetyculture #governance

The brutal reality of mining approvals and investment - you don't know until you know. While these sorts of protections are good for society in terms of reducing local impact, they have negative effects on local jobs and supply chains. The reality is: there's no such thing as a free lunch or a zero impact mine. There's especially no such thing as a zero risk mine. When we seek to reduce the risk of impact to zero, we ramp up the difficulty level for miners and investors from "very hard" to "go offshore". There's no easy answers here, and I wont pretend I have them. We need metal, we need coal (whatever your sentiment, we need coal in Australia to at least bridge us into the green tomorrow) and we need to reduce the impact of mining. If everyone was willing to pay $5k for a clean phone, and no one bought cheaper phones made with dirty metal, we'd have an easy answer - only clean, minimal impact mines would survive, and all dirty mines would die, and only negligible impact mines would get approved. Of course with prices that high we'd probably also really kick off deep sea mining and space mining... #mining #ESG

Issue 2, 2024 IS OUT NOW!! Read it here: https://lnkd.in/gff_H9av The first half of the year is almost gone – which signals another issue of your PNG Business News, which once again is full to the brim of the most important developments in Papua New Guinea’s business and resources sectors. Inside our 136 pages for Issue 2 2024 is our commentator Michael McWalter’s thoughts on the need for a National Petroleum Data Centre. He explains the important responsibility to care for the vast amount of petroleum data submitted to the government by companies operating in the country, which leads off our stories on page 10. On the mining front, Ok Tedi Mining Limited passes another milestone with a record production in the first quarter of the year. The firm dug out over 26,000 tonnes of copper – over 60 percent higher than in Q1 2023 -- with almost no time lost to injury. You can find this cover story on page 64. We also look at St Barbara Limited’s plans for the next 10 years of the Simberi gold and silver mine after its expansion concept study, as its CEO Andrew Strelein explains in the story on page 56. Our new reporter Roselyn Erehe also writes on the developments on the Autonomous Bougainville Government, as its President Ishmael Toroama recently signed a joint resolution with PNG Prime Minister Hon. James Marape to operationalize the Peace Agreement both parties signed earlier. The leaders are confident the deal will lead to prosperity for both sides; for more detail, turn to page 36. This and many more stories on business, mining, oil and gas, agriculture, tourism, finance, and companies are in this mega-issue available free of charge online and through our partners across PNG. Grab a copy and leaf through your PNG Business News today! Thank you to our advertising partners: Westpac PNG, Moni Plus, Quest Exploration Drilling (PNG) Limited, Credit Corporation (PNG) Limited, Swire Shipping, Bishop Brothers Engineering Ltd, PNG CR Service Company, NGIP AGMARK LTD., JCB, PNG Forest Products Ltd., Atlas Steel - PNG, Aspen Medical, International SOS, Consort Express Lines, Remington Technology , Datec (PNG) Limited , Datec PNG Limited , EastWest Transport, Ela Motors PNG, Port Moresby Electrical - PME, Express Freight Management, Blue Water Shipping, EagleXP, PNG DATACO LIMITED, SGS, nasfund, AG Investment Limited, Markham Culverts Limited and Trans Niugini Tours

Congratulations on the federal government extending its 15% mineral exploration tax credit for investors in flow-through shares for another year. The extension is expected to provide $65 million in support for exploration. In 2021, it helped 300 companies to raise equity by issuing eligible flow-through shares to more than 12,400 investors. Ottawa also offers the separate 30% critical minerals exploration tax credit applying to a list of 31 minerals deemed important for the energy transition such as battery metals. It was introduced two years ago and can’t be used on top of the 15% exploration tax credit. #mining #mines #exploration #prospecting #ores #minerals #investment #funding AME - Association for Mineral Exploration Keerit Jutla #lithium #criticalminerals #ev #building #buildings #construction #steel #energy Mining Association of Canada Mining Association of BC Ontario Mining Association Prospectors & Developers Association of Canada (PDAC) BC Regional Mining Alliance CIM | Canadian Institute of Mining, Metallurgy and Petroleum The Northern Miner Canadian Association of Petroleum Producers (CAPP) Canadian Energy Executive Association Saskatchewan Mining Association Canadian Fuels Association - Association canadienne des carburants Canadian Natural Resources Limited (CNRL) Canadian Manufacturers & Exporters Canadian Hydrogen and Fuel Cell Association (CHFCA) Manitoba Prospectors and Developers Association (MPDA) The Mining Association of Manitoba Inc. Canadian Gas Association Canadian Heavy Oil Association NWT & NU Chamber of Mines Canadian Mineral Processors CMP BC/YK

RESOURCE NEWS: Porgera Restart Status PRESS RELEASE ❗ ❗ ❗ New Porgera Limited (NPL) is pleased to announce that the restart of Porgera is progressing well and is on track. First gold production is expected to be achieved in Q1 2024, as planned, subject to the Highlands Highway continuing to remain open and no further vandalism of project infrastructure. NPL General Manager, Chad Coulin, acknowledged the tremendous effort made by the NPL workforce and the support of the regulator, the Mineral Resources Authority, to restart the Porgera mine in compliance with the laws of Papua New Guinea (PNG). Following completion under the Porgera Project Commencement Agreement (PPCA) on 22 December 2023, the NPL team has stepped up and delivered outstandingly towards getting back into full production in Q3 as required by the PPCA. The critical path to full production is re-standing or replacing relevant towers along the Hides Transmission Line. In 2024 for the Porgera mine operations, there will be a spend of K2.7B (US$749m) (est.), which is divided between K1.6B (US$442m) of direct operating costs (including K613m (US$174m) that will be capitalized prior to restart) and K1.1B (US$308m) of capital. The expected export revenue from Porgera gold sales in 2024 is K1.8B (US$504m) which will assist in boosting PNG’s foreign exchange reserves. Expenditure on PNG sourced goods and services is estimated to be over K600m during 2024. Over 3,000 Papua New Guineans will be employed by NPL by the end of 2024 with a payroll for the year of K150m (US$42.6m). Royalties, which will be paid to landowners and the Enga Provincial Government, and 0.5% production levy to Mineral Resources Authority will amount to K63.4m (US$18m). Withholding taxes and custom duties payable to the National Government are estimated to be K28.2m (US$8m) for 2024. NPL has already commenced payment of K4.6m in outstanding compensation fees for the period that Porgera was in Care & Maintenance and will shortly commence negotiation of the long term compensation agreements with landholder agents. The sharing and division of project benefits such as equity and royalties among stakeholders, will be agreed at the Government managed Development Forum process and be recorded in a Porgera Project Community Development Agreement that NPL will be a party to. Under the Community Development Agreement, NPL will contribute through the Tax Credit Scheme to relevant infrastructure projects in the areas of health, education, roads and law and order. Law and order continues to be a challenge and NPL calls for all stakeholders to support restart operations by contributing to peace in the valley with no further vandalism of critical infrastructure. #PorgeraMine #NewPorgeraLimited