Petromin Holdings Limited, the government owned mining company who recently pulled out of Tolukuma Gold Mine in Goilala has very recently sold its interests (TGM) to Asidokona Mining Resources Pte Ltd.

Asidokona, according to online publications is a Singapore company, registered in July 2015.
AsidokonaPetromin Holdings Limited has sold TGM to Asidokona on a “Purchase Sale Agreement” basis.

Definition – What does Purchase and Sale Agreement (PSA) mean?
The Purchase and Sale Agreement (PSA) is the agreement that finalizes all terms and conditions in the buying/selling of a company as originally stipulated in the letter of intent (LOI). When the shares of a company are bought/sold, the PSA is a Share Purchase Agreement or “SPA”. When only the assets of a company are bought/sold, then the PSA is an Asset Purchase Agreement or “APA”. This final document is binding, and is usually completed after all buyer and seller due diligence has been finalized, as neither side can turn back once the agreement is finalized and executed.


Now, we have a new twist in this Petromin-Asidokona saga.
Reports from TGM has confirmed that YLA Chairman who was jailed and sent to Bomana recently for multiple offense, has been “bailed” out and was flown into TGM this morning.

Reading in between lines, this act is no brainier. This is primarily done to fast track the sale agreement signing between Petromin and Asidokona. As the Chairman, George Gusi will facilitate and endorse the Landowners support and approve that this deal be confirmed and done with the sooner, the better.

Now, legally, has George Gusi – the convicted villain – been bailed out? Is he entitled to bail application? If he is entitled to bail, then who bailed him out? When was he bailed out? Or if he is not bailed out then on what circumstances is George been taken out of prison?

Only on medical grounds, a prisoner can be brought out of prison. Apart from that, no other grounds will legally be right. Or is this notion wrong?

When a public office holder is jailed for breaking the laws, does his rights, privileges, powers and authorities automatically gets stripped off him/her?

If that is the case then how come Petromin Holdings and Asidokona seem to engaged and recognize a law breaker in George Gusi as the Chairman of YLA?

Does such recognition qualifies these two entities of been guilty of breaking the laws of this land?

The Petromin-Asidokona deal seem be take  a fast lane approach in sealing the deal before anything legitimate is said and done about this.

There seem to be more questions about this deal then answers. And this in itself deserves a lot of publicity in Papua New Guinea’s main stream media. Sadly, PNG Media has turned a big blind eye and deaf ears to this since this news was broken.

God Bless Papua New Guinea

Break Down


“Sacking to ‘defeat and frustrate’ case September 29,2015, 01:13 am”


ANTI-corruption team headed by Sam Koim has branded the sacking of two senior police officers as a means to frustrate and defeat the current court cases against Prime Minister Peter O’Neill.

Chief Inspector Timothy Gitua and Assistant Commissioner of Police Thomas Eluh were sacked yesterday on separate disciplinary charges.

Police Commissioner Gari Baki defended the sackings, saying that the termination of their services had nothing to do with the investigations into the Prime Minister.

“These are completely isolated incidents and have nothing to do with the investigations. These are issues caused by their own conduct.

“This is an internal disciplinary process, therefore Mr Koim has to be very careful with what he says,” Mr Baki said. He said Mr Eluh’s sacking was related to insubordination to former Police Commissioner Geoffrey Vaki while Mr Gitua was discharged for using unnecessary force at a night club while under the influence of alcohol.

In a news conference earlier yesterday, chairman of Investigation Task Force Sweep Sam Koim claimed that the two officers were sacked under circumstances not isolated to the current cases pending in court relating to the arrest warrant against Mr O’Neill.

“In the grand scheme of things that are, we have been observing for over a period of more than one year, are things that have been calculated to defeat and frustrate the ongoing cases that we have had,” Mr Koim said.

There were four high profile cases that were listed by Mr Koim whereby either or both Mr Eluh and Mr Gitua are involved in. These cases are ongoing with some major trials next month.

Mr Koim also mentioned multiple unsuccessful attempts previously made to remove the two senior officers, Chief Superintendent Mathew Damaru and others.

He also touched on the travel ban on Greg Egan and Terry Lambert, legal representatives of Mr Damaru and Mr Gitua, from entering the country. He said that Justice Nicholas Kirriwom on August 28 dismissed an application for the removal of these lawyers, stating that Mr Gitua and Mr Damaru were policemen performing duties in the interest of the country.



Press Release by Sam Koim, LLB Chairman Task Force Sweep.

Two veterans of the Police Force have been unceremoniously terminated in circumstances not isolated to the current cases pending in court relating to the Arrest Warrant against Prime Minister Peter O’Neill.

Chief Inspector Timothy Gitua and Assistant Commissioner of Police Thomas Eluh who are two of the officers at the forefront of the investigations against PM O’Neill had been terminated. These are two officers who have been serving the Royal Constabulary with distinction for many years.
“We believe that the two officers had been vindictively penalised by the Commissioner of Police and his deputy.” We have reason to believe that this decision, though not surprising, is not an isolated act but one that, in the whole scheme of things, is tailored and coordinated to frustrate and defeat the pending court cases against the PM.

Although we do not question the Commissioner’s powers to take disciplinary actions, we believe that the timing and circumstances under which the decisions are made is highly questionable:-

• The two officers are involved in the criminal and related civil cases against the PM,

• Many unsuccessful attempts were made previously to remove the two officers, Chief Superintendent Mathew Damaru and others.

• Lawyers representing PM & Co previously objected vigorously for Messrs Damaru and Gitua to be included as parties in PM’s arrest warrant related proceedings.

• Not too long ago, Lawyers representing PM & Co made yet another unsuccessful attempt to remove our lawyers from acting for Messrs Damaru and Gitua. On 28th August 2015, Justice Kirriwom dismissed the application, stating amongst others, that Messrs Damaru and Gitua were policemen performing their duty in the interest of the country.

• On 8th September, about 7 working days after the unsuccessful attempt in Court, our lawyers, Messrs Gregory Egan and Terence Lambert were banned from entry.

• Less than three weeks after, the two police officers are terminated.

We have turned the anti-corruption temperature on. Our cases are getting closer to completion and hence some people are feeling very uncomfortable.

We are seeking legal advice on this matter on the appropriate course of action to take



The National Alliance Party convened its first formal caucus meeting on Saturday (26/9/15). The meeting was called by four party members led by former Attorney General Kerenga Kua and Grand Chief Sir Michael Somare to discuss the concerns about the state of the economy and whether it was in the Party’s best interest to stay in Government going into 2017 National Elections.

Political insiders confirmed that Pruaitch met with Prime Minister Peter O’Neill the day before he agreed to the meeting. It was alleged Prime Minister put to Pruaitch in no uncertain terms if he fails to get NA’s house in order they would be sacked from his Government. Senior Ministers close to the Prime Minister were openly boasting on the eve of the meeting Pruaitch would sack both Somare and Kua from NA.

The meeting was convened around mid-day and attended by the full 14 Members of NA. The motion was moved and seconded whether it was in the best interest to stay in Government. Each member then express their view, most opposing it raising fears of losing their Ministry and being in the Opposition would affect their chances of re-election. A vote was called and in the end motion was defeated 10-4. Four in favor of the motion were Grand Chief, Kerenga Kua, Jim Kas (Madang Governor) and Wera Mori (Chuave Open).

My post analysis being it is clear that the Leader of NA Party has close ties to Prime Minister confirmed by the fact in 2008 when he was suspended following his referral to the Leadership Tribunal he handed his Ministry of Finance & Treasury to Peter O’Neill. It is convention that when a Member of Parliament is forced to step down the Ministry is kept within his Party. However due to the close personal friendship between Pruaitch and O’Neill, for the first time in PNG’s short political history Pruaitch instead entrusted the country’s top ministry with his close friend Peter O’Neill. Even during the impasse when NA was cannibalised and their Party Leader and then Grand Chief Prime Minister position stolen from him by O’Neill, Pruaitch never came out public in the defense of Somare nor criticize O’Neill for it. In short he was caught between a rock and a hard place loyalty to his long time friend or his Party Leader.

The fact four members of NA more notably the Country’s Founding Father and three time Prime Minister has supported a motion for NA to leave Government under Peter O’Neill definitely raises eyebrows in political circles. While Prime Minister would have hoped for an outcome resulting in Somare and Kua being kicked out of his Government there was no way other Sepik MP’s would be foolish enough to facilitate such a move. It would have been evident to them that while leaving the Government would make their re-election more difficult, kicking out Somare would be political suicide. Furthermore Pruatich real political value lies in his position of being the Leader of the country’s second largest political party his best position is for NA to remain intact affording him more political prominence and special attention from the Prime Minister.

Further the sacking of NA from Government would have immediately started the process of a change unraveling of the Governments coalition partners and his own Party.

In my view it wasn’t the smartest political move for NA to leave Government, right now the issue isn’t the Government but rather the man in charge of it. It is far more difficult to convince your team mates to leave their club (Government) and play against them in the opposition than it is to just lobby to change the captain of the team.

However it was the more noble and sensible position to take but the realty is that Members of Parliament today are no longer as honorable or credible as they were in the time of independence. Ministers of Government are paid K120,000 per annum asking them to risk the comfort of their position that comes with great perks and privileges including the prestige and sacrifice it for the interest of the people and country is no easy task.

The best outcome for the NA party is that it remains intact. Any difference of opinion was put on the floor and each afforded the right to express their view before putting it to a vote. The final result accepted by the members to stay with the Government. Perhaps the result would have been far more different had the motion been the need to change the Prime Minister.

It was interesting to read today’s post courier report failed to raise any of the above issues. While some are have dispelled recent rumors take it from me there is certainly interesting times ahead.

source/Author: Bryan Krammer, Social Media.



I have said this before and I will keep saying this.

Anyone who operate TGM has legal clearance to mine Gold across all of Goilala. Any here, anytime, anyhow.

Regardless of what you as the principal LO of whichever place in Goilala say.

So people. Wake Up. Please Wake Up. And pay particular attention to Asidokona and Petromin deal that’s been negotiated right now.

Kosipe Catholic Mission (47)

The MOA for TGM has never been reviewed. The Chairman position of YLA of TGM seem a very hard and complex issue to address. Petromin Holding’s ignorance to work with our duly elected MP for Goilala Honorable William Samb are some crucial issues we need to be very careful of.

It seems there is a lot of secrecy about how Petromin is doing its business in TGM. Why is that so?

TGM business is Every living, able, thinking, capable, concern Goilalas business.

Get involved now. Or Get Dissolved for ever.


By: Gwen Della Rea

The Member for Goilala, says he and local landowners will be asking Petromin to explain if it had sold off the Tolukuma Gold Mine to a new company.

Who owns Asidokona?
Who owns Asidokona?

William Samb told NBC News, he is not aware of reports posted on Facebook, that Tolukuma had been sold off to Asidokona Mining Resources, under a sales purchase agreement.

Mr. Samb says, he and local landowners were not included in the process nor the agreement, but understands that the purchase agreement will be signed by Petromin and Asidokona soon.

N-B-C News understands the Tolukuma Gold Mine Memorandum of Agreement was never reviewed after its operation ceased this year.

Source: NBC New Group on FB by Caspar Calvin.


‎Tolukuma Gold Mines in the hinterlands of Central Province is rumored to have been sold out to a new player – Asi Dokoma.

This deal is been sanctioned under a “Sales Purchase Agreement” between Petromin Holdings and Asi Dokona.

Petromin Holdings recently abandoned TGM on the initial basis as “no gold deposits” and later changed their reason to “return on investment too uneconomical”.

Petromin Holdings placed TGM on “Care Maintenance” and laid of 90% of the local workforce. Petromin Holdings has not kept it’s side of the bargain and have not paid off all employees as expected and is legally accepted.

While all these was going on, the LOs were kept in the dark. No one knew what was going on.

The political leaders of the District weren’t looped in on this arrangement nor was there a proper awareness done to educate all stake holders in this issue.

Rumor had it that a new operator was already been courted as a replacement for Petromin, but no one knew it was going to be Asi Dokona. Who are these Asi Dokona folks?

Where are they based? What is their expertise in the mining sector? Do they have a track record in Mining?

While Asi Dokona and Petromin seen to get on the roll with signing off deals, regarding someone else’s gold, the ignorant LOs from Tolokuma and deaf and dumb political leaders shut their eyes, ears, mouths and minds out and playing a “invisible” role. It’s a known fact the TGM MOA has never been reviewed.

It is also a known fact that George Gusi – the incumbent LO Chairman – is under some legal battle trying to save face.

So legally, there is no LO Chairman to facilitate any agreement for and on behalf of the LandOwners.

Add onto this, are the political heads of Goilala supposed to be a part of this dealing? If they are then it’s OK.

However how come no news about such deals has made it to the public domain? Is such media black out sanction by the political heads of Goilala?

Honorable William Samb. Are you a party to this Asi Dokona-Petromin over TGM deal?

Petromin has screwed Goilala people inhumanly and for Petromin to facilitate this deal only confirms the fact that Goilala people will be screwed yet again.