The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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So he had some verbal assurance from a government official that the land permit would be fixed in 1-3 months. That was back in October? Also said the drill bit will hit the ground for Velociraptor end Q1 early Q2? Come back in March and see whats what? Merry Christmas all Shareholders and hopefully a Happy New Year? (Fingers Crossed)
Let's see how markets take it tomorrow.
MB wants to do lots of things and changed his plan from bringing heron 1,2 and 3 online to self fund the company to chasing wildcat drills.
He is best at blowing money and not making money.
1) Well Funded - Over £6M in the bank and well covered for operations
2) Land Access - Special Designation should be "fixed within the next 1-3 months" as confirmed by the Minister of Mines in Oct, hence anytime within the next approx 6 weeks.
Some detail there - the previous delays have been due to the Govt looking to resolve the issue at local level and in line with new legislation introduced in 2017. They've now moved away from that position and are involving themselves directly, hence the Mining Minister's comments. Mike Buck, being in direct contact with relevant parties, expects it to be anytime now.
3) Timeframe for Heron - Chinese workers back from holidays in March/ April but many will be staying the Winter in Mongolia, so a good chance to get the Heron Workover commenced as soon as the Special Designation comes through, anticipated within the next 6 weeks.
Velociraptor - potentially "transformational" for the company AND country. $1.5-2M, high impact / low cost well. All permits & equipment in place, FULLY FUNDED and ready to drill in late Q1 2023 (or early Q2 latest).
4) Contracts with drilling contractors on very favourable terms to Petro Matad, as per the presentation.
5) Renewables - Advanced stage discussions for an advantageous JV deal, with talks expected to be concluded very shortly.
6) DQE deal well advanced and highly advantageous for major scaling up and realization of Petro Matad's potential, with massive shareholder value by extension.
Everyone should listen to the presentation themselves, if only to confirm the above points independently and circumvent the angst that many are going to now feel, having sat out and continued with their quite sillly commentary on the CEO living abroad, being corruppt or whatever inane fantasies they involve themselves with.
The points discussed in the presentation are the hard investment details that the investment should be assessed on and not the ramblings of 'BB pirates'.
Petro Matad now have a massive 2023 set up, with multiple Newsflow items and very major shareholder appreciation built into that.
Make your own choices based on the hard investment case.
Regards.
*Note: Mike Buck stated we were WELL FUNDED for Heron Workover AND Velociraptor, many of the expenses already having been covered with £6M STILL LEFT after that expenditure!
It may not be worth speaking negatively, but I did not find anything positive in this presentation either. Moreover, the questions asked by this Donald are not at all the ones that we sent and were waiting for the answer from MB. In general, nothing new or significant that could change my mood or attitude towards him as an ineffective CEO for the better.
Wasn’t able to watch the presentation but £6m doesn’t go far in this world, if that is indeed all we have left!
Hmmmm... 6 mill bucks left in the bank (I hope he meant gdp), a lot of plans based on a 20% cos and hope for a sign off for spl on Heron with a at 1-3 months period albeit offered back in Oct and we are now in Dec. Still talking the talk at this stage imo but Im sure we will get there!
Well after watching MB presentation I feel my confidence for this is finally returning. Fingers crossed we hit the ground running March next year . Good luck all
Looks like 6mill left enough to bring heron1 and raptor trend .
Money will be required soon.
Watch here - https://www.lse.co.uk/events/
Sorry should've been more specific, I meant that it shouldn't affect PM to much,. I read an article yesterday from the Mongolian mining journal about it. Hence my comment about corruption further up the chain but definitely feels like we are being held to ransom. GLA
Jimi - yes it was ETT a state owned entity and 10 criminal charges had already been brought against the govenment officials 2 years ago. Protesters wanted names.
Shouldn't think so but does highlight Mongolia's corruption on levels further up the chain. Waiting now for webinar, I hope it's less painful than my ingrowing toenail op I had earlier today ;+)) GLA
Let's hope that this will not affect PM's business!
https://www.wandsworthguardian.co.uk/news/national/23173205.mongolians-protest-alleged-theft-coal-sold-china/
Why do you think the SP is at 2.2p and not many big buys . It's mickymouse money being traded.
No point trying to blame others for trying to bring price down.
It doesn't work that way.
More like we are being manipulated and taken for a ride.
Just wait and see a big raise or whatever MB can get hold off.
Definitely a raise is on its way hence the price hike.
We will find out how much cash he has left in the bank.
Money needed for heron 1,2 and 3
Velociraptor
Green energy
And few more holidays next year
Hey you, iamrich if you're so incredibly smart, could you tell us what our lies are? And aren't you afraid that we are now going to take you up and drag you to court for slandering us?
We are a British company operating through the LSE. We are not a Mongolian company (as far as i understand) so no they cannot just take over our shares. If they want our company they are welcome to buy our shares and would suggest we start at 50p per share and work up wards from there. Now what is more possible is rescinding our license to exploit but cannot see the point of this having just issued it and now given us permission to explore the Raptor area. However there is the future and who knows what a Mongolian government will do in the future and MB does not have a crystal ball and neither do we.
And then there are the lessons of history when Stalin and the Russian State tried to nationalise the oil fields of Baku and realised they did not have the skill sets and ended up producing 10% of what they were doing before hand. And some how a MG that cannot sort out Special Permits is unlikely to know too much about oil production and giving to PC i really do not see as being an alternative.
Thanks to you too, Hamm.
Let’s hope that our questions will be will be announced and MB will respond to them. But to be honest I doubt both.
And if so and any further delay of LP, then we have to continue our efforts and exercise fully our rights as co-owners of the company.
I wish you and all other critical investors enjoy a beautiful sunny day, which hopefully does not turn into a disappointing evening after the presentation.
My questions to MB would be would you please take legal action against some of the posters like hamm manro and master for posting lies and manipulating the share price for their little trades
1. Why have you(MB) been say MG has been supportive while waiting 3 years and no result yet?
2. How certain are you(MB) that LP will be granted for 2023?
3. Where have you(MB) been in the last 3 years? Will you be in Mongolia or will you be zooming again?
4. How much money is left in the kitty?
5. Why MATD hasn't been present in any Mongolian exhibition?
6. Would MATD take further action if MG for any reason wouldn't grand special land access?
7. Would it be possible MG nationaliz MATD?
8. would it be possible MATD leave AIM market?
Thanks Manro and master
I will add also.
If there is huge support from Mongolian Government, which Mike Buck constantly and on all of RNS or his presentations talks about, then why he was unable to get Land permit during 4 years of being CEO? Does he realise that by doing so he constantly misled investors not only for one year, but for all 4 years of his tenure, and that this turned out not just into "frustration" as he is very softly mentioned in RNS, but huge financial losses for investors?
And since Make Buck reiterates that "We are hopeful that we are now reaching a new phase in the process with central government recognising that it needs to bring this access issue to an end through direct action", two more questions arise:
1. Can he to achieve this before the opening of the drilling season in Mongolia, or will it result in new losses of time and money?
2. Is he now in his office in Ulaanbaatar and has directly involved in this or will do it virtually from Singapore, Italy or anywhere else on the planet?
Dear all,
CEO Mike Buck is presenting at our Natural Resources live webinar on Tuesday Dec 6 starting at 6 pm. Those questions which get to us early are most likely to be answered, and we would be grateful to take your questions now and put them to the CEO on the night. Thanks in advance! Just use the following link: https://www.surveymonkey.co.uk/r/CQ8S28M
These are the questions that need answering this evening.
How much cash left.
How are all the Activities in 2023 going to be financed
When is LP likely to be granted or special status.
Time frame for paperwork for the use of PC facilities
Any tanker/contractor to get oil from Heron to PC facilities .
Does heron need testing and time frame for testing.
When are JV papers likely to be signed
Time frame for rig contract or rig availability .
Lot need answering
The route to land access will be via the Special Designation, going through MRPAM / MMHI.
There's continued focus on BB chats about local sentiment but Petro Matad's interactions there are more a courtesy that has to be seen to be undertaken.
The company statements seem pretty unequivocal on that but it's a talking point for the chat board in the meantime.
With the massive potential / low cost Velociraptor drill now also on the mix, along with Heron production, tge Special Designation permission & DQE partnership, all to look forward to for a sustained price recovery back into double figures.
I dont expect (or want) that in the next few days but would prefer to see what I expect will be a bear inevitable progression back to those levels.
We're much better placed than the previous run to 9p on the EL issuance.
Mike Bucks presentation today via LSE should attract greater focus on the MATD stock and I expect we'll see a large influx of new investors for Velociraptor itself let alone anything else.
Those who want to wait can wait. Those taking early positions for the major rise expected over the coming weeks will do so.
Everyone to their own investment decisions.
Have a good day all
They've not done it yet in Dornod community - the offer is in place dependant on land access.