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Moni, well said. I agree with you.
That is very good approach. Perhaps MB should take your advice and take further action if really and truly is with us.
Thanks again
Dinger, there is no question over this resource being exploited; it will be.
There is however a serious question over who will be the beneficiary. Mongolia is mired in corruption and the difficulties being experienced by Petro Matad follow an all too frequent pattern. There are numerous instances of valuable projects facing seemingly intractable challenges - in many cases
foreign owned projects, but not exclusively.
Powerful players (politicians and others) with designs on the projects can readily find ways of preventing progress. Recruiting vocal agitators and opponents is a common theme. Through these and similar techniques pressure is exerted in order to gain control over, or involvement in, the project. Once achieved opposition to the project melts away and the projects proceed. The only way to counter such moves is to expose the corruption, where this is evident, and or secure support from the authorities of the country which represents the company, in this case the United Kingdom. The UK Embassy has a responsibility to support UK industry where it is being disadvantaged through nefarious means or treated unfairly by the host nation. Representations should be made to the relevant embassy. With application the embassy is more than capable of dealing with these challenges. With sufficient lobbying their attention can be brought to focus on the challenges faced by Petro Matad with a view to securing a resolution to the company’s problems.
Yes, it suits petrovis. They are very fast to make 20% interest on MATD! why MATD can't make money of its cash?
Why MATD staff/CEO should get paid for the last 3 years sitting/ doing nothing?
MATD is definitely deceiving shareholders and that is why they don't tell us what is happening.
Damn the lot.
D1nger makes a number of valid points. The next RNS is well overdue although do remember that MB has stated that until the local issues are resolved the ground crews will not move in. Petrovis are also in a position to shore up any financial issues as they did last year with a short term loan to get through the winter months. If I remember correctly there are also a number of high profile government ministers who hold significant shares in PM along with MB. I don't believe they will bit their noses off to spite their faces although stranger things do happen on the AIM market.
3 years was for LP? Why do you think sth will change soon?
What happened to all rubbish advanced talks ?
All porkies to say the least.
Petrovis still can own the company if leaves aim! We shareholders will get nothing. Look at ATC.
MB has barely paid 1/3 of his shares! Not saying he is ok with the situation.
There is no RNS convincing us that LP will be granted. Or tell us what is their next move.
There is no single of equipment.
Just saying you are happy with the situation and like FA reward V risk doesn't really help.
MATD should issue an RNS explain the situation.
Blue chip guys! Do they really exist? What Is their position?
The fact is when MATD/MB is hiding and avoiding the question it certainly means they aren't telling the truth and they have done sth wrong!
D1nger - as with all the other upbeat posters you seem to ignore the possibility than whenever Heron etc. starts to produce oil PM may no longer involved.
If you look at AMC (I know it's in Russia) they have massive value in nickel sitting in the ground but the investors are coming away with a few crumbs.
Our founding company and majority shareholder Petrovis, are still a major part of the oil industry in Mongolia. Mike Buck is currently sitting on a loss in his investment in Matd.
Local access will have to be granted eventually unless Mongolia wants to be paying off a loan for a refinery that will never be used.
The idea that Matd is an elaborate ruse to fleece private investors of their money is just an incredibly unreasoned argument.
The communication from Matd is exceptionally poor and their ability to achieve time targets is even worse but it still remains an incredible investment from it’s current mcap of £18m or $20m considering it’s NPV 10 is around $250m - $480m.
Happy to remain invested as long as I have a few years left on this planet.
Have a good week fellow investors.
Manro that is true. I am not giving up.
God bless,
Hamm, if to think that we have no chance, then we doom ourselves to defeat from the very beginning! For when we fight we may lose but may win too. If we don't fight, we've already lost.
Guys, what happened to the so called blue chip guys?
I wonder who was paying FA to post all the rubbish here?
Manro, I don't think we would have any chance! Look at ATC.
//it is quite conceivable that PM will go down the tubes //
Sadly I have come to the conclusion that itcould. Anyone rememberwhat happened to Xcite energy? At the time allegedly the "safest play on AIM" ?
//As it will be undeniable evidence that the PM was created specially to deceive foreign investors, and hence the chances to sue and force them to reimburse our financial losses.//
Yeah - good luck with that! It is quite conceivable that PM will go down the tubes & those of us left holding will end up with nothing. It would be egg on the face of the rampers - sort of Pyrrhic victory.
Hamm, that is hardly possible, but we must be prepared for this too. And demand an explanation, and not only from him as CEO, but also from all those crooks who, along with him, constantly deceived us and stole our money.
In other words, in this case, we will have even more grounds for active actions. As it will be undeniable evidence that the PM was created specially to deceive foreign investors, and hence the chances to sue and force them to reimburse our financial losses.
Manro, I understand and appreciate what you said, but I am worried as soon as he goes MATD leaves aim market!
"...I think he should still be there if not as CEO necessarily"
Hamm as who if not as CEO he should still be there. The CEO should be in his office doing his job, but it's clear from his zero results that he's not there. He is hired and used as a paid puppet and as such can be where he wants. The only question is whether with his consent he is used as a puppet by corrupt Mongolian officials or not. Most likely he knows and plays their dirty games of embezzling money from foreign investors. Otherwise he is an Idiot abroad. Therefore, we will not to be silent, but to shout as widely and loudly as possible about this impudent theft of our money.
Unfortunately MB loves zooming! He doesn't seem to have been in Mongolia. He is totally a stranger from the local's point of view. However I think he should still be there if not as CEO necessarily.
Dozz.
You are exactly right. Local stakeholder engagement must continue and form a corner stone of your ESG policy which Matad refer to as the way forward.
I would suggest a long hard winter in country, boots on the ground is where Mike Buck should be.
If Mike is not up for it then it’s time to resign and bring in some new blood who understands Mongolia and is willing to put in the hours in country.
Do you really think he cares to read our posts?
I wish he would.
We certainly need to have an RNS to clarify the circumstances. We have been in limbo for a long time.
If MB reads this board maybe he has filtered all his detractors? Fingers in ears, sing "La, La, La".
Adill, as mentioned and only my opinion bridges need to be built between PM and the local government or I don't think we are going anywhere and I really don't believe MB can do that. The PM Petrovis Chairperson must know this. I think by MB banging on the GOM ministers door will further antagonise the local governor. It needs to be sorted at local level
S0 Dozz. Maybe a CEO and senior management of more clearly Mongolian heritage who amplify the Petrovis parentage might help?
Yes, definitely an RNS would be be a big help at the moment. We have been kept in dark for too long.
Hamm, tbh only my opinion i cannot think of any other way that bridges can be built with the locals. I don't think MB is the type of person to do this, honestly I really hope he can, but i just can't see it. If MB is to stay I think the GOM needs to overrule the local governor, but that would totally contradict the new law they have just put out ref land and local control, donations and employing locals. Hamm I hope I am wrong.
What we really do need now though is a RNS and hopefully it can shed some light on what's going on and appease all us long suffering investors - keeping everything crossed for us all