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China Covid lockdowns another concern, but then again nothing will happen here for years anyway, and certainly not now it’s winter and China is in lockdown, what a mess if MB needs to come to market for more money it’s goi g to be brutal for all holders here
Because Ost says so!
Something must be fishy to tell the truth.
Beacuase you don't sue a country, you work with them to a achieve a mutually beneficial partnership. Protected by law.
Well if that’s the case why isn’t MB taking legal action, or is he happy to just collect his huge salary for the next few years of nothing happening
That is the point! How come 5 guys can stop LP granting!
There must some sort of unwillingness in MG!
MATD should speak up and not hiding.
Lambo are you serious? There is 5 people who don't want to extract the oil and thays hardly "huge"
Like any growing economy you are always going to have a vocal minority who try to drum up opposition to any form of development, normally funded by large not for profits with ulterior motives.
It's a sad fact of doing business in this "woke" world we live in.
The government wouldn't be spending 1 billion ++ to build a refinery for yak poo so, the reality is the country need MATD to be successful and producing oil asap to provide revenue, jobs, assist the local people and be a good corporate partner. It's quite clearly articulated in the Government's plan for the country and backed up by the money they are borrowing, to build an OIL REFINERY!
Keep trying though, it's entertaining whilst we wait for the license to be issued. Which will happen real soon and you and the lol brigade can crawl off to another board.
Best
Ost
Thanks for reminding about the filter Hamm. I have just filtered this primitive troll.
You must be out of your mind to think that MATD should move out of Mongolia after spending years and millions of money.
MATD needs push the government more and speak. The last attempt of MATD should be taking legal action against Mongolian government asking for full refund for failing to secure LP. MG can't just charging the oil/mining companies knowing that the local permit cannot be granted.
Just like local people in the UK don’t want fracking companies to drill for oil, the Mongolian people don’t want oil companies such as matd drilling for oil on their land! The opposition is huge I very much doubt the government will go against the will of the people and the people say get out of our country your not pumping oil on our land!! As Iv said the best bet now is for matd to cut their losses and leave Mongolian imo and start again in a different country who actually allow oil production
I am like a bad penny keep turning up!
But you should have known by now that there is an option called filter.
If you really believed in MATD, you would be quiet and keep buying while the share price is down!
Isn't it that you believe we can bring the share price down? And we have been doing that. Why don't keep buying?
At the end of the day we are helping you guys.
Still damn silence from MATD/MB is only a very BAD NEWS.
Damn the lot.
Manro amd Hamm, you guys love a good pretend chat. Why don't you start your own thread called baseless speculation . It would be riveting reading ??
This happens for the simple reason - the vast majority of investors do not understand at all that they have some rights, not to mention that they are co-owners of the company. And if so, then who will reckon with the opinion of those who are not only unable to defend their rights, but even do not realize that have them.
As long as I understand the board hasn't been honest yet and will not be in the future. They treat shareholders as outsiders and never been level with us. Fact.
@Jimithebrush.... thanks, interesting article ... I do agree with your assessment of it. Good luck!
Interesting article. Mongolia have recently opened their new airport in UB, with the aim of becoming an international hub. The loan on this needs repaying and this can only be achieved if Mongolia can become energy independent and thus a cheap refuelling stop. Along with the refinery, Mongolia has bet heavily on becoming an oil producer. It won't be long before this political pressure resolves the land access issue.
Email, I think this may help answer your question, my take is this law you refer to is for the supply of petroleum products from other entities but I think once these governmental issues regarding land access are sorted then if and when PM start producing then it could have an effect on them. Will need Google translate to read the article. GLA
https://www.mongolianminingjournal.com/a/72326
unfortunately with Russia desperate for customers and selling off a highly discounted prices it 's likely the anti-oil drilling protesters might well have the upper hand... It looks like Matd's destiny is tied up with Putin's war
""Draft Law on Amendments to the Law on Petroleum Products /Submitted by the Government on November 29, 2021, first discussion/..."""
Would you say this is the draft law amendments which concern us directly?
What I don't understand is why there's no news about the equipment.
He said few weeks in his last interview. That was months ago.
Sorry it was at the border.
Can he organise anything right.
Where the hell has he blown this 10million
lambo - we have heard your view on the future share price a few times now, no need to repeat, it's boring!
Can see this below 1p by year end, so much opposition to PM I can see this been a long drawn out legal battle that could go on for years
I agree the $64k question is the cash flow both literally and metaphorically. We have not heard a word on the cash flow well because we have just not heard a word. If i am right i remember hearing sometime ago that the management was on half wages and i am assuming they still are as i have not heard anything to say they are back on full wages and i would hope that would slow the drain the other is that Petrovis, our senior partner, might lend us some more if they knew that something was due to start shortly. Otherwise would appear to have f******d ourselves by allowing the share price to drop to such a level that a share raise would be massive at a very low price. At the moment we just have to wait and be patient it is quite frankly out of our hands but then is it ever in the hands of a few shareholders.
Excellent post Ibiza (Wednesday 15.28). I have a few additional points:
The timeline for completion and start-up of the refinery must surely be slipping and adversely affected by continuing lockdowns in China and border closure on procurement of materials and available workforce.
Oil production, mainly from PetroChina’s blocks, has been falling year on year. Thus, unless significant domestic production
developed and brought onstream well in advance of refinery start-up or supplemented by crude oil imports railed in from Russia, the refinery may not be operationally nor economically viable at low throughput levels, particularly given the winter conditions.
Post the Soviet satellite era, successive Mongolian Governments have been keen to attract Western investment and expertise. However, being surrounded by Russia and China and given the current geopolitical situation, Mongolia is unlikely to attract Western interests, particularly for its oil sector. In the circumstances, the authorities should appreciate PM’s predicament.
The Mongolian government has its problems, but ironically the situation in China may be buying them some time to resolve issues; but this will be of little comfort to Petro Matad with its very limited financial resources to see the company through to a successful outcome.
the full one hour of discussion was on fb as well. These local reps were so much against PM, dont know why. However the good news is that they eventually agreed they can do nothing legally as the central government requested the block 20 land area to be state special purpose. This discussion held in Sept so hope some progress since then. The land law discussion was postponed till next friday. Parliament members were generally supportive of the change in the law. Seems things are now in right direction. Just need little bit speed.
I don’t recall investing in any other stock where the CEO/mgt team are so quiet. The SP has virtually halved in two months, why not come out to at least try and defend the SP? They could learn a thing or two from POW.LN. RNS’s on an almost weekly basis and regular webinars from the CEO.
For the first time I’m now considering selling my admittedly tiny holding and putting the money to work elsewhere.