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Mullins58: There was 435 shares of the post, 735 likes, 142 comments - keeping in mind Matad district has a population density of 0.11 people per square kilometer. Anyway, for me I'm happier now that I think I understand what the problem is, I was more concerned before when there was no progress and I didn't understand why. At least the lack of progress with the permits is starting to make sense.
One posting on Facebook , not much of a concern
Atb
The ????? ????? text is "Petro Matad" in Mongolian text, the bill board obviously can't cope with the slavic characters...
Seems there is a fair amount of local opposition to Petro Matad, I done some searching on facebook posts for ????? ????? (Petro Matad) and narrowed the search to "Posts" and the date to "2022" and up popped a photo of a lady holding a sign which said "Oil 20th Field is Protesting" in Mongolian and "STOP PETROMATAD" in English... Date of posting was 22nd April, e.g. a couple of days ago!
Judging from the other posts the lady made this also applies to PetroChina... I guess it's becoming clearer to me why progress is so slow to get those permits, local government is probably getting a hard time from the local environmental groups and is holding back the permits as a result... However,
I take comfort from the fact that the Mongolian refinery will be coming online soon and central government will be keen to get the oil flowing to ensure this is well-supplied... Therefore I expect they will be under pressure to change the law to prevent regional administrations from throwing a spanner into the works for oil exploration and production... After all why spend billions on a refinery if you don't have the crude oil to use it?
BTW, If anybody wants to see the posting search in facebook for "????? ?????" and filter the search to "Posts" and the dates to "2022".
Implementation of mineral sector legislation, problems and solutions ”is being held today in Tsetserleg, Arkhangai aimag. 22/4/22
The meeting was opened by B.Tuvshinjargal, Deputy Chairman of MRPAM
During today's discussion, MRPAM presented a report on "Current situation of the mineral resources sector, challenges and solutions".
B.TUVSHINJARGAL, DEPUTY CHAIRMAN OF MRPAM: COMMON LOCAL ISSUES WHEN LICENSE OWNER ACTIVITIES
• Exploration license holders are required to seek the input of local people when conducting exploration work.
• Requires a social responsibility agreement with a very high investment.
• Failure to monitor and approve environmental management plans not to enter into land and water use agreements due to opposition from local communities, party groups, and civil society organizations;
Aimag Governor D.Batjargal presented a report on "Current situation of the mining sector in Arkhangai aimag" at the discussion on the implementation of the legislation in the mineral resources sector, CHALLENGES and SOLUTIONS organized in Arkhangai aimag. At the end of the report, he made suggestions for further action. These include:
-Improve the quality and quantity of rehabilitation
- Improve electronic communication between local, licensed and government agencies
-Ensure operational transparency
-Establish advanced security technology and electronic control system for licensed companies
- Implement mining closure and post-mining planning
- Regularly inform citizens about the legal environment of the sector's activities at all levels of government
- Involve local governments in operational field monitoring of mineral exploration
Part 2 of the discussion
Discussions are taking place on the topic of environmental rehabilitation barriers, local cooperation agreements, and issues facing stakeholders. The discussion was moderated by U. Ulaanbaatar, Senior Specialist, Mineral Exploration Department. GANBAATAR is working.
As of Arkhangai aimag, 20 MINING, 11 EXPLORATION and 3 COMMON MINERAL licenses are registered
Do not underestimate the environmentalists. Mongolia is likely to suffer hugely from global warming snd environmental issues are taken very seriously. I for one applaud the board for also looking at sustainable green growth options as part of its vision for the future of the Company
https://montsame.mn/en/read/295372
A Captain sensible fan ?
You've got to have a dream otherwise how you gonna have a dream come true!! GLA
How often do your dreams come true?
Likewise. I wouldn't have forgiven myself if news lands on Monday and I hadn't topped up before when I had the chance.
Fingers crossed it won't be long to wait now. GLA and have a great weekend fellow Matadors and LTH.
Last quick buy before the weekend, hoping for good things shortly. GLA
Kicked in which is Very Bullish.
Get tuck in....
About time also.
We pushed to 9.15p after Exploitation licence was granted last year. We moving to next level hopefully very soon. May could be a huge month here in terms of re-rate if DQE update comes in next week. 15p - 20p would come fast i tell ya.
Master82: How do you find those posts? Or can you post them please.
Definitely something going on. 3 days of posts on Facebook regarding petro matad
Looks like the sellers have bought back in ;-0 Weird swing!
I don't understand why people are selling at this point.
Looks like some activities will take place. Even if 1 well is put on production.
It's nice little earning for MATD.
Got to be some FOMO later on today
agreed once fully operational 50p will be the minimum id say... a multi multi bagger!
Thanks Master82. Interesting posts. It doesn't sound like the locals are overly-thrilled about PetroMatad or PetroChina both. I guess it comes down to the needs of the many, we need the Mongolian Central Government to clamp down on this NIMBY mindset and streamline the permitting process.
These guys are all inviromentalists.
They don't like mining or oil companies.
Its good to get info from them though.
With all the buys outweighing the sells I wonder are they expecting news to be imminently announced. Reading them Facebook posts I get the impression that they don't sound particularly keen for it, hope I'm wrong. GLA
master82 I stand corrected thanks for your input all sounds intriguing let's hope something materializes in way of an RNS and get this show on the road to success. GLA
You have to translate previous posts and comments . They are talking about petro matad.