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Some positive news. EPC 2 and EPC 3 have finally been awarded for the refinery. https://www.livemint.com/industry/energy/engineers-india-wins-consultancy-contract-for-mongolia-refinery-11666968352475.html
Assuming there are boots on the ground Spring 2023, and that the Chinese border doesn't prevent progress to badly, I'd guess the refinery could be up and running by 2026.
The Mongolian government are desperate for investment cash and revenue sources ahead of bond refinancing next year. You'd hope this would give Mike and his team some leverage in PM negotiations.
//You know what to do if you don't like it.//
Yep - filtered
Yeah b/p I know you hate to hear that "advice" - which btw comes naturally. As long as you moan and complain about PM you will get the "advice" you deserve - whether you like it or not!
You know what to do if you don't like it.
//In that case: Time to sell while you can!//
Yet another doling out advice! I wish some of you guys would just mind your own business & let me mind mine.
reasearchandhold - From what I gather we have enough to hold out until next year when the drilling season is supposed to start again, but if we are to wait much longer then another cash raise would required or more funds appropriated some way or another. The agreement might be for 20 years but our cash keeping the company afloat isn't.
Don't get me wrong, I'm still optimistic as a LTH here that we can acquire the LP and it is MB's bets interest that we do of course. He has 8 million shares himself after all. But .... what's to say a Chinese company haven't said to the GoM that if they just hold out on us they will come in and give them a better deal. It's all speculation though, we have no idea for sure what the reason is why they haven't granted the LP yet. Hopefully soon it will be resolved.
GLA
That's the thing PM doesn't inform us of all the stuff that's going on in matad soum.
I found out on facebook.
It's all there on Facebook all the info you need to see what's actually going on and not what we are told.
In that case: Time to sell while you can!
but don't forget - it's all about Risk v Rewards as FA used to say.
//Bluechipz - can't see what you mean by someone wating us out , since the Explotation Licence has already been granted for 20+ years to Matd. It the local LPermit which is the hold up//
If this drags on longer than 2023 with no income coming in & a cash raise problematic at this SP MATD may be forced to sell out at a pretty low value. It's a danger.
Bluechipz - can't see what you mean by someone wating us out , since the Explotation Licence has already been granted for 20+ years to Matd. It the local LPermit which is the hold up
I can't see any RNS confirming what you say master 82.
Please could you tell me the date of the RNS which says they took legal action against a local governor?
Ok thanks !
2019.
master82 , when did PM take the local governor to court?
But the government has been so supportive??
The only way it will be resolved is by the GoM stepping in and pulling rank or a new governor then if that's the case.
If there is a lot of money to be made for the GoM then I'm sure it will happen.
Just hopefully it will be with Matad and not another company who are just waiting us out.
The result was PM got thrown out from block 20 and land was confiscated.
If you look at the history of how PM went about dealing with the local governor . It will explain why he won't give the LP .
MB didn't get permission from local authorities and went straight in to drilling heron and then took the local governor to court.
So it's no wonder he is not going to entertain PM
//Exactly what is stopping the LP approval?//
At a guess GoM are happy to wait for the oil until they can use it themselves. No incentive just now. And without a pipeline, bringing any oil in quantity to the international market has its problems.
Exactly what is stopping the LP approval?... which factual reasons are for this?... To leave comments one needs proper factual evidence... the fact the sp is down is not good reason enough
How difficult is that if you leave some comments, at the site jimi found, telling them how disappointed you are as an investor! Telling them that Mongolian government shoukd help investors etc etc.
Evry little help may make difference.
But the question remains: How do you want to go about things in order to get the results we are all longing for?
Ojay, I did understood you. I agreed with using proper language.
You guys should appreciate that we are all together.
There is not some investors and other investors!
I t would be good if some of you guys leave some comments and have a bit of active approach rather than passive out lookers!
If Mongolia wants foreign investment then she needs to play a fair game! MATD has been spending millions in the last 10 years or so and finally found oil but unfortunately sitting on huge oil reserves for the last 3 years to get LP which hasn't been granted yet! Mongolia could be as good and prosperous as Canada and Australia but needs to be open minded and fair to investors. It is fair and understandable that the environment should be looked after but this can be achieved by mutual cooperation and not altercation. Hope the Mongolian government resolves MATD local permit as soon as possible which would encourage rather than discourage other investors. Best,
Hamm: You may have misunderstood my point. Whatever you and your colleagues do - pls make sure that it doesn't backfire on us other investors. Using harsh language typically does not help - irrespective of the permit etc. at question.