Home > Corruption, Land, Logging, mining, Papua New Guinea > Companies circle Bougainville like vultures – waiting for the natural resource bonanza

Companies circle Bougainville like vultures – waiting for the natural resource bonanza

In what seems a relentless cycle of resource companies lining up to take a bite out of Bougainville, on Monday Nevis Capital Corporation purchased a 50% stake in Tall J (PNG) Ltd (see the announcement below).

Tall J, is currently owned by Stephen Strauss, whose was the subject of a expose published via the MicroKhan blog in 2011, which includes a detailed response from Strauss himself (see below).

According to the company press release Tall J has rights to pristine Bougainville forest with timber valued at $1.3 billion, in addition to mineral exploration rights over 255,000 acres of land.

So what do we know about this company who has evidently purchased a large chunk of Bougainville? Not much. It has one subsidiary, registered in, gulp, Costa Rica, which focuses on the online gaming industry. From one swindling industry to another, it would seem.

And the company’s website hardly inspires confidence, either. http://www.neviscapcorp.com/

But as long as government economic policy hinges on the mirage of resource fuelled riches, companies like these will come sniffing for a quick buck; because like at the casino, the house always wins!

 

Nevis Announces Investment In Bougainville Development, LLC

July 21, 2014

Nevis Capital Corporation (OTC: OCEE), is pleased to announce that they have signed a final agreement with Bougainville Development, LLC, a Mississippi Limited Liability Company, to acquire a 50% ownership of Bougainville Development in an all stock transaction consisting of Nevis common stock. The principal asset of Bougainville is a wholly owned subsidiary, Tall J (PNG) Ltd. of Papua, New Guinea, that has the contractual rights with the Papua Government to harvest the timber and to explore and develop the underlying minerals on 255,000 acres in Section 1645. Bougainville has a current investment in excess of $4,000,000 USD in this project. Mr. Stephen Strauss, BD Director, estimates that production should commence within 12-15 months for delivery of finished materials to Asian markets. Surveys from ITTO estimate that this tract contains approximately 2.5 million cubic meters of timber valued at $1.3 Billion at current prices, generating estimated revenues of $37 Million annually over a 35 year production and reforestation cycle. The Papua Government has endorsed the economic growth and development of their natural resources. Exxon Mobil has recently invested $19 Billion in Papua, NG, building one of the largest Liquid Natural Gas (LNG) projects in the world which began shipments in May with anticipated annual revenues of $7.2 billion. Nevis Capital expects the operational profits from this investment, the previously announced US producing oil and gas investment and expansions thereof, the Macau Live Online Gaming investment, and initiatives to acquire interests in profitable Medical Marijuana ancillary product producers to rapidly increase shareholder value for this development stage holding company.

———————————————————————-

Brendan Koerner – MicroKhan Blog, 8 July 2011

Okay, then, so what is the Tall J Foundation? Records are spotty, indeed—I couldn’t find a corporate listing in the United States. This forum post from 2010 suggests that Tall J has been soliciting investors for some time now, with a fantastic promise of 500 percent returns. If the poster is to be believed, the company’s director is one Stephen M. Strauss, with addresses in both Texas and Olive Branch, Mississippi. I got another pop on that exact name through a recent SEC case, in which a Stephen M. Strauss stands accused of orchestrating a pump-and-dump stock scheme while head of the Chilmark Entertainment Group.

Coincidence? Well, Chilmark was headquartered in Southhaven, Miss., just a stone’s throw from Olive Branch, so I’m thinking the answer is “no.”

The only other easily accessible trace of Tall J is this LinkedIn listing for one James Blackmore. But I can find no connection between Blackmore and Strauss—at least not yet.

The bottom line is that it seems that a tiny, shady-seeming investment concern actually appears to be wreaking genuine havoc on the Bougainville peace process. That immediately made me think of such infamous 19th-century filibusters as William Walker, who fomented great chaos in Latin America in the service of making fortunes. This is why private interests really shouldn’t be permitted to assume roles that might destabilize shaky governments; corporate self-interest is typically more at odds with international order than diplomatic self-interest.

http://www.microkhan.com/2011/07/08/the-new-filibusters/

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  1. July 28, 2014 at 12:05 pm

    Dear Mr. Koerner

    I have given a full clarification to the Post Courier about the press release, but as i had to correct the information from the last negative blog that you put our about us, i wanted the facts to be accurate.

    Did you also see the fact that Nevis just named a very prestigious businessman as Chairman of the Board. They are a holding company, a place for small startups to raise capital. They are organized to be successful. Besides our company, they have oil wells, the online gaming site and have other companies that they will incubate and assist with their growth.

    In order to accept investment in Bougainville when we first started in 2009, we had to have a US company. That company is Bougainville Development, LLC. We entered into an agreement with a group from New Ireland in 2013 for a timber project on New Ireland. Since our investors are already invested for the $4m USD we wasted in Bougainville, we did not change the name of our company.

    We have no intent nor any plans to come to Bougainville. The people of Bougainville are wonderful and i have met many good solid people on the island. I came to Panguna because Edwin Moses and Phillip Takaung asked me to help. I did the best that i could and in return i have been villified, cheated by partners, had equipment vandalized, stolen and destroyed.

    Our company will not be the operators in New Ireland, we are working to bring the right investment with the right people and to help them work with the Papua New Guinea government and the Forestry Authority to produce what we think could be a great project that will produce much needed employment and resources for the Investor Landowner Groups for decades to come. Besides building roads, schools and creating a good tax base, the operators will only use the latest sustainable forestry techniques and technology and only ship sawnwood not logs.

    This would have been a great project to bring to Bougainville however its not the right time or the right political climate for foreign investment (especially from US investors) to try and do something good for the people. Bougainville needs a leader and until a clear vision is articulated by that leader and agreed to by the people it won’t change. The negativity that exudes from your blog is endemic in your country, not based on facts but based on innuendo, claims, etc. There is no due process, no need for facts, just yell the loudest and get as many people as you can to do the same.

    Lastly, i appreciate your research into what you think you found and what facts are there. Tall J Foundation was a company that we started back in early 2009. The partner that started it was guy named Stewart Sytner. Stewart took the money that was supposed to go towards buying a gold license and put the license in his own company name and immediately was removed from the company. Tall J (PNG) Ltd is the PNG registered company that we formed to do business in PNG (in compliance with the laws for foreign investment).

    The SEC documents that you found were related to me, I sold my company in October of 2006 to a company IBIE that had a plan for doing palm oil in the South American country of Guyana. We agreed that the closing of the purchase would be in January of 2007. In November of 2006, IBIE management asked me to put our a series of 6 press releases. I issued the press releases based on their direction with their information. I knew nothing about Guyana or Palm Oil at that time. We did a reverse split of the stock (made the per share value higher) and put out the press release. The stock did go up based on the press releases. A month after the last press release came out, i sold less than 10% of the stock that i owned. Only sale that we did. The price of the stock stayed the same from that point through the close of the sale and stayed the same price for all of 2007. The SEC investigated and the agreements that IBIE had fell through in early 2008. As the CEO at the time of the press releases, i was deemed the responsible party. The interesting part of this whole process is the person who was the President of IBIE was the same Stewart Sytner that Mr. Momis keeps accusing of being in our company and who we removed in early 2010. So fact checks are very important. If you are to be taken seriously as a blogger, then you have to do your due diligence and get your facts. I am not hiding, i am not shady nor do i work in the shadows.

    The last year we were in Panguna (2013) we spent 1 million kina in goods, services and labor. That was more than the Australian government, the PNG government, the ABG and Meekamui government spent combined in the Panguna region. People in Panguna and Arawa definitely benefited from our efforts. So continue your blog, chase people away that want to help and you will end up with the Chinese.

    newirelanddevelopment.com

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