Sunday, October 07, 2007
Papua New Guinea Stocks
Here is some interesting trivia about Papua New Guinea:
1. It is a member of the Commonwealth of Nations.
2. Remains of humans 50,000 years old were found on the island.
3. 72% of exports come from oil, copper, and gold.
4. 85% of employment comes from agriculture.
5. The the current Prime Minister Sir Michael Somare continues to privatize government assets.
6. It has an inflation rate of zero.
7. It has more languages than any other country (820).
It is hard to believe that Papua New Guinea as a center of capitalism but there are several publicly traded stocks from the country.
Bougainville Copper Limited (BOCOY.PK) was a former producer of copper concentrate, gold and silver from their Panguna mine at Bougainville, Papua New Guinea. They are now operating as an investment company. 53.58% of their shares are owned by Rio Tinto Limited and 19.06% by the Papua New Guinea Government. Their net profit margin and operating margin is 33.18% and their return on average equity is 0.83% for the latest quarter.
Lihir Gold Ltd. (LIHR), which trades on NASDAQ, explores for, mines and processes gold on the island of Lihir in the New Ireland province of Papua New Guinea. The forward P/E is 31.57 and the PEG is 2.94.
Oil Search Limited (OISHY.PK) explores and produces oil and gas in Papua New Guinea, Yemen, Egypt and Australia. Their operating margin is 42.39% and the return on average equity is 6.97%.
New Guinea Gold (NGUGF.PK) mines and processes for gold at its Sinivit gold mine in Papua New Guinea. They generated negative earnings of one cent per share.
To see articles on other stocks from countries around the world, check out WallStreetNewsNetwork.com.
Author does not own any of the above.
By Fred Fuld at Stockerblog.com
Posted by Stockerblog at 1:08 AM