The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Where are we up to?
We were told "soon". (Although we were also told "1-3 months" back end of 2022).
Where the funds were and how much didn't really seem to matter as the deal appeared imminent, but nearly two months on and no news it starts to matter!
We know we are funded up to July. We know there was some left over from the fund raise last year, but we don't know how much the compensation funds from our own accounts are or if they are attracting interest.
Be good to know! We are due an AGM rns, so maybe an update then.
The main question is why is PM taken on a ride.
There has to be more to the story than the local governor holding the LP Up.
MB needs to come clean to the share holders.
5 years is very long time.. other companies have come after PM and found gas and have started producing...
The real problem is with MB
.
Lots of unanswered but legitimate questions. How much of our funds and where is it currently?
Important v urgent.
Doc. Heron IS of national importance, as the oil is primarily intended for the refinery for national use. Its just not urgent as the refinery is not built.
So, is it of national importance? Yes
Is it Urgent? No
Researchandhold said //BP is like a stain on humanity//
And HOW MUCH IS IT in total?
Aeschylus.
"So I'm wondering if the Finance Ministry is unwilling to agree to this meaning payment will have to take the orthodox route? "
You may well be right, in which case if PM has paid the money as stated in their RNS, where is the money, who has control of the money and is it receiving interest whilst, possibly, sitting in a deposit account.
“Despite WOS's frequent assertions to the contrary…”
Quite. The proof is in the pudding, as they say. We still have no oil from Heron, what is supposedly of “national importance”. Clearly, it is not that important.
On a reread of the last RNS, I really do wonder if the payment method proposed is the stumbling block? Due to historical fraud and corruption any whiff of (or accusation of) financial irregularities could potentially be political suicide, particularly in a run up to an election. So I'm wondering if the Finance Ministry is unwilling to agree to this meaning payment will have to take the orthodox route?
"Under the legislation, the compensation payments should be made from the State budget but recognizing that this could be a very slow process, the Company offered and the industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) accepted that Petro Matad would make these payments. The money has been paid into the appropriate MRPAM account and is awaiting transfer to Dornod Province once the Ministry of Finance gives approval for this to go ahead"
Researchandhold said //BP is like a stain on humanity//
Despite WOS's frequent assertions to the contrary it's looking like the MG aren't bothered about selling Heron oil to the Chinese for short term revenue & may well delay things until the refinery is ready. I'm beginning to think "no PM oil sales in 2024" may be a good prediction!
That’s five years worth of oil they’ve now kept for there refinery, I’ve always said that’s there objective. I would say they’ve nearly run out of excuses now, but they appear as soon as one disappears.
Next two months news is crucial or we are going to see sub 2p.
On the other hand surely 12p plus if we finally look to get it out the ground.
JTB. You provided a link to the Mining Journal that had an article outlining the reason why Mongolia needs internal oil supply. There was a question pushed back by a MATAD shareholder which has gone unanswered. See question below:
Why are you not mentioning Petro Matad who discovered oil in 2019 in field XX in Matad Soum, next to Petro China's fields, but are still trying to get that oil out of the ground 5 years later. How do you think you are going to feed that oil refinery if companies like Petro Matad are treated like this. Do you really think you will get foreign investment in the oil industry when everyone can see what is happening with Petro Matad. Why is there only Petro Matad interested in applying for new licenses. Why don't you mention this in your interview
The MATAD shareholder is right on point. Why no mention about the Heron oil strike that has sat in the ground for 5 years?
Aeschylus, "this too shall pass". GLA
Https://www-dornod-gov-mn.translate.goog/n/2401?_x_tr_sl=mn&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Man on left of photo, look at his right sleeve!!! i can see the LP sticking out!!!
Header say all and did not even bother to read posts of agitators yesterday - I just focus on actual INVESTMENT!
Funding "sufficient until at least end of July 2024" - official RNS.
Can it be possible need some before?Of course. Is this likely? Probably not. Why did it happen before? New Renewable company set up & New Blocks tender which needed extra funds - now new block process put on hold & Renewable project not at capex stage.
This use company analysis of Information & not BB hysteria which often is just for individual selfish reason.
Company do NOT need to RNS market for cash transfer from MRPAM and think this already done (imo).
When RNS come it will be ganechanging for company and holders of shares - some maybe benefit from this wait to pick up bargain price share but think lot will also be caught with very fast price rise on RNS.
Have no interest in name calling which lot of agitators rely on (even when they really looking to buy). Investment case is there.
Header say all and successful investor is patient and can build up holding because of excellent Risk v reward of MATD - gambler will always be running around fir years to play the snake & ladder with markets.
Analyse Investment & make own wise decision 🦉
They needed some cash for Christmas and new years - retail obviously got all excited and it pumped as they had hoped. Now some are left holding the bags.
Their 'soon' probably means another 5months
Why no signature yet???,
Because Mongolia's importers make huge profits from cheap Russian oil and gas and share it with the higher officials controlling this imports.
Besides, who needs a formal signature when the Mongolian government has been providing tremendous support to the company from the very first day of appointing a large-caliber and infinitely devoted CEO-slacker ...🤣🤣🤣
I think even Marcus Aurelius would be cussing by now
I wouldn’t say you’re that negative, Ojay?! You’ve had a couple recently but then I think MATD would test the patience of a Saint.
Why no signature yet??? https://www.mongolianminingjournal.com/a/73343
At least the house was insured I presume!!! Nothing here if it burns down lol
"Nope you just assume everything."
A bit like you assuming we haven't been patient?
Nicetomichu: Looks like you're very much interested in what's going on.
Why don't you come back "in a while"?
Nope you just assume everything. Im just not here everyday living on the board.
Looking in here for first time in a while as this seems to be heading back to my latest target top up price of 3p and I see Mr WOS is again up Dawns Crack... and he say:
'' let traders pull hair & other things out because of my posts Lol ''
Pull finger out too, Sir ?...... But Mr WOS say other thingS, Sir.. maybe other thing like when go out to buy more shoes... again and again, Sir?
They know what's coming....
Ah, Symph. You must be a previous MATD poster who got banned and had to set up a new account? ;)