The weekend papers are full of news that good ol' Bougainville may re-open again. With the seemingly unstoppable China-driven commodity boom having pushed up the copper price to record levels, the reserves in the Bougainville pit are now worth about $50 billion.Its port, its access road up 30km of rugged terrain and its 200 million tonnes of prestripped ore are ready and waiting. Re-opening it would cost a mere $3 billion.
So are the shares worth a punt? Well, the horse may have already bolted as the shares, which at their lowest traded at a mere 10 cents, have recently gone up as high as $1.79. Last sale before Christmas was $1.55.
Mind you, the turnover in these shares is very thin so don't get set with a large parcel you may have trouble shifting when it's time to sell!
