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Ascendant Resources Inc T.ASND

Alternate Symbol(s):  ASDRF

Ascendant Resources Inc. is a Canada-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada volcanogenic massive sulphide (VMS) project located on the prolific Iberian Pyrite Belt (IPB) in Portugal. The Lagoa Salgada Project is located within the north-western section of the prolific Iberian Pyrite Belt in Portugal, approximately 80 kilometers (km) southeast of Lisbon and is accessible by national highways and roads. The Project is comprised of a single exploration permit covering an area of approximately 7,209 hectares. The Project represents an early-stage, potentially high-grade, polymetallic zinc-lead-copper exploration opportunity in a low risk, established and prolific jurisdiction. The Lagoa Salgada project comprises two known deposits: Venda Nova North and South. The Project represents a low-cost entry opportunity to gain exposure to a known, high-grade VMS deposit.


TSX:ASND - Post by User

Bullboard Posts
Comment by DDiscoveryon Apr 24, 2013 9:52am
81 Views
Post# 21294081

RE: Momis responds to criticism of Mining law

RE: Momis responds to criticism of Mining law

This is an article from the Australian Regan who drafted Momis' mining policy. It is clearly dead wrong and once again sponsored by the deeply frustrated European shareholders of BCL. Let's tackle the deliberately false accusations and twisted facts one by one:

 

1. An investigation is underway this week on Bougainville by the Public Accounts Committee into Momis as to his dealings with two Chinese groups. It is widely believed among the islanders that he signed secret deals with them on mining concessions. Momis is of Chinese descent and was born on New Britain island. He never was and certainly won't ever by viewed by the people as a true Bougainvillian.

 

2. Momis made a huge mistake by claiming in the Regan draft mining policy that the ABG and the landowners will JOINTLY own the land and it's natural resources. He seems to deliberately forget that section 23 of the Constitution is their culture, it is not about the mining or the product of minerals from their lands. They are willing to give ALL Bougainvillians unfettered accessto their minerals as long as THEY  retain title and invite their partners.

 

3. The chiefs and ex-combattants created the current system and will see to it that any Bougainville Mining Policy without section 23 embedded as the foundation statement is not acceptable. This is not just a threat, they will fight for this until the bitter end if necessary. The fact that Momis refuses to acknowledge this shows that he isn't a real Bougainvillian. Not by birth and certainly not by spirit.

 

4. It is a cheap lie and a serious twist of facts that the Mining Policy proposed by the landowners and ex-combattants will not share the proceeds of mining operations with all the Bougainvillians (see also point 2). The Regan/Momis policy doesn't even mention the terms and conditions for the operator, the resource owner and the Government. What king of Act is that? Landowners must have equity from the start and must be involved.

 

5. The Regan article demonstrates how transparant the Morumbi process has been. Morumbi has made no secrets about the MoU's, signed by the way by broad representative groups of landowners. In the case of Karato for example the MoU was signed off by not less than 44 directors, each one representing their clan and subclan. Momis on the other hand signed secret deals with Chinese groups that have not been made available. This will not be forgotten and Momis will be confronted with it during the upcoming big consultation forums in Bana and Arawa.

 

6. All of a sudden Momis has invited dialogue, but this is a coward's act as there have been five respectfully written formal requests for meetings by representative groups from Central Bougainville to discuss the Regan policy and he has refused or cancelled all five.

 

Nobody is going to hand us what some geo's are saying is a cluster of ore bodies that may be akin to Grassberg. The battle is ongoing, this is the stress test of our model. Momis will have to give in and compromise. Does he want to be remembered as the President who tried to outsmart the Bougainville population with a disastrous mining polica based on bad foreign advice and secret deals with the Chinese? It would for sure ignite a new civil war.

 

Long & strong on Morumbi !!!

 

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