The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
In think MB made it clear legal action is in the tool bag but a decision of last (not first) resort.
Also I believe this has taken over 5 years for Magnai so for PM to go to court i would seriously rethink this because it would be more delays
Roxy, yes Magnai Trade LLC is one who are a similar company to Petrovis. They took him to court and I believe after initially losing the case Magnai appealed and won and now they are suing the governor for compensation which I believe they have won, just waiting as always in Mongolia
Cyber do we know if this so called guvnor has caused delays and obstacles to other companies ?
I only ask because this may not be his first .
That also says a lot about him
Yeah the SPL can wait for now, we just need that land use approval which is progressing still can't see it take more then a month now must be close to any day now,
The provincial guvnor can delay for so long sooner or later central government will be what's your problem and he will be breaching something some where and forced to sign it off or central government just pases with out him, it will get done buck has done the only one good thing and that's follow the rules which will pay off at the end
And in addition, yhe local soum can grant a 2025 land permit Once LP signed off for 2024 and the locals start to receive revenues from Petro Matad, the benefits should finally become apparent to them.
Cybertron ;
"Guys, once we get landuse agreement done I'm sure it doesn't matter if special purpose takes another 6 months does it ? "
That's right I believe. The District land access sign off is needed to commence immediately this year, however the Special Purpose agreement currently being stalled by the governor would only be necessary so as avoid PM having to apply with the District authorities in future years starting from 2025.
I don't think that Hamm has this clear in his head. The SP tripartite agreement being signed by the third and final party will only be necessary for 2025.
Roxy perhaps this may help a little https://lehmanlaw.mn/blog/tag/land-law/
Thanks ..... "My Little Head Turner-flapper friend". ... oh and as well Ms. Hamm thx for your unput", all is good info and ad's to the clarity we are all in effort to confirm.
G-Backs'
100% agree investor. He responded to me say his bank account agrees with him, but yet he didnt short, so that means he didnt make any money. Not sure how his bank account agrees with him lol
I honestly think hes some 40 year old working at mcds while living in his mums basement
Cyber, let's hope we get lucky and get land access.
Enjoy your bank holiday.
Hamm bet you forget tomorrow and ask the same questions again,
Thanks WOS.
Guys, have a lovely beautiful evening.
Mr Buck say company who start legal action in 2018 are still in legal process BUT to be fair think this will be more clear & shorter for Petro Matad - they have Cabinet Approval and overlap issue clear in PSC signing date v Provincial council overlap status.
Mr Hamm - I apologise if you feel i respond to you in unfair way. I understand current situation in my way & very confident of local permission timeline BEFORE election & Central Govt order AFTER election.
Both will give us plenty of time for 2024 Drilling Season with preparation with contractors all proceeding.
Will be a good year for Petro Matad & holders. 🦉
I'd like to hear from some of the knowledgeable posters here whether any form of legal action would make the situation much worse.
Thanks in advance.
You are right in saying MB is studying legal options but if we we were to progress in that direction it will be be adding fuel to the fire already started by the governor and this could get totally messy and no doubt definitely more delays .
This will sort itself out time and space given if left to Central MG and they will have get a land use agreement even if the governor has reservations.
Guys, once we get landuse agreement done I'm sure it doesn't matter if special purpose takes another 6 months does it,
Soon or later it will have to be done, central government wil be asking the guvnor why he isn't signing the paper with out reason,
Reckon once we get land use and elections are done we will get special purpose few months later
Mike Buck has said legal action is in his tool box, so he'll use IF the diplomacy route dries up.
Guys please.
I haven't said MB should take legal action right now.
MB said himself for the first time that matd is studying/reviewing legal action options.
What I am saying is that a deadline given to Mongolian government and regional governor may be better option. That makes look petromatad means business and they take MB more seriously.
Doc, Wehther it is personal or not he wouldn't say it would, would he?
Doc, let's say it is personal then if MB goes, should it be ok?
Doc, what is your take if MB gives the governor a deadline and if not met take further action?
TIA
Hamm they are already talking to MG all the time. There is a difference in the way MG wants to handle this with PM and how the Guvnor wants it done. That's the dilemma. A legal action now could invoke more delays and create a hostile situation.
“Mr Buck mention that they communicate with Governor many time - nothing personal with Petro Matad.”
Personally, I don’t believe that. I think it is personal for the governor and he’s clearly doing everything he can to stop MATD.
Guys, I appreciate your replies. Wos, please no need to call names.
It is not just me that think there isn't a clear reason that the governor is avoiding to sign.
Wos, I never said MATD/MB should start legal actions right away. What I said was completely different. You know exactly what I said. In fact since you aren't giving straight answer make me more anxious! I still appreciate your posts regardless.
A clear strategy, in this case a deadline to MG/LG would be a clear message that this time petromatad means business.
Mr Buck mention that they communicate with Governor many time - nothing personal with Petro Matad.
Issue with Petro China like Mr Aesychlus say and think all can understand no one like this sort of rule breaking BUT he say main thing is 95% of Mongol oil production come from Dornod - governor try to send message to Central Govt they want bugger share.
Mr Buck say he is like this with ALL mineral / oil company in province at moment.
Petro Matad have clear EIA position for Ecology protection & work close with local & Provincial level (with Petrovis support).
If they start Legal Action like you suggest Mr Hamm (I thank Bhudda you do not run company) all activity stop IMMEDIATELY until legal action decision.
You can see this is madness sir when we are so close & expect to be opetstinalbthis season - if you know this you do not need to ask same again YES?
🦉
Landuse agreement still progressing, typo bloody phone