Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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We have a delay, We have oil, We have an opportunity to buy at 3.6p and we have other prospects. Its a fantastic investment for long term investors.
GLA
Thanks Ojay, nice to be appreciated :-)
Maybe Matad should have a chat with the Justice Minister ?
https://twitter.com/khnyambaatar/status/1516065889208123405?s=12&t=oaYGtNf63SjCSgsM1zquFg
https://twitter.com/khnyambaatar/status/1515692282837667844?s=12&t=oaYGtNf63SjCSgsM1zquFg
Covid impacts on Mongolias major projects began to ease in March.
Raptor drill alone could send the share price rocketing, looks all positive to me apart from China border delay which ain't going to be for too long be realistic ppl lol they too have a economy to look after
I think it will be at least another month or two before anything happens here.
Looks like heron 1 is dependent on China border opening and raptor might replace the heron 2 and 3 .
In todays news MB will be very happy he can direct the money to exploring the raptor.
MB likes spending money not making it. Its just Ben hurdles on here since 2018.
Not a smooth ride like I expected.
Conditions in China are such that we have virtually no ability to predict our performance in China in the back half of the year.
Howard Schultz
STARBUCKS, INTERIM CEO
We are not the only ones suffering from Covid it is affecting everyone and i mean everyone. Once China wake up to the fact life has to go on otherwise a simple solution for Xi would be put down the whole population.
This is the long game we have played the opening gambits now its time to sit on what advantages you have gained and try and put pieces in place for when the end game starts. Patience is the key i think
Thanks Jimi, much appreciated.
Malcy's thoughts -
"You couldn’t make it up, the bad luck that has rained on Mike Buck and his team at MATD recently but at least is is surely transitory and that the company is doing everything they possibly can to be ready to move fast to ensure that Heron 1 will be up and producing as soon as is possible.
I have written a good deal about China’s current woes in recent blogs but in the oil price section as the lockdowns in Shanghai and more recently Beijing have concerned markets with regard to Chinese economic growth. Now we have evidence of more micro problems and to add to the Covid problems they now have social media warriors getting involved.
Despite all this I remain confident that Mike and team will overcome the problems and backed by the Government will before long get Heron 1 on stream and get the longer term programme up and running, this is no time for faint hearts…"
Anything that did not state workover is complete was going to result in a small drop in share price. Production this year is still reported as the target.
I think I’m beginning to see why we managed to get an exploitation licence when nobody else can. Great manoeuvring by MB to circumvent the local issues.
Strange some people can’t recognise the leadership in place here…..
Great RNS!
No local permit yet!
As always the last god knows how many years in advance talks and still talking!
Now MATD wants to change the law. Well done.
Every thing looks great to rampers but market says %12 down.
Last chance to get off the sinking ship.
Enjoy the free fall
From my - as always modest - POV it looks pretty much like what PatShare posted @08.41. Clearly, we all hate those red numbers. As long as PM's marketing dept. can't issue RNSs which highlight the positives that's the way things will continue to roll. And BTW: There are plenty of positives - today's RNS unfortunately missed to point them out. How unfortunate!
PM will finally get where they want to go - it's just a holding operation. Once again: Patience is needed. ATB
Jodo. We should be careful to read anything not in its entirety but to respond ive just picked out the following from todays RNS.
Block XX Exploitation Area
Petro Matad has continued to engage with local and central Government to secure all necessary permits. OK! WE DONT HAVE ALL NECESSARY PERMITS!
For issues that cannot be resolved locally, Petro Matad has sought input from central government and this strategy has resulted in progress on the long-running land issue. SO CLEARLY AS CANT BE SORTED LOCALLY CENTRAL GOVT INPUT HSAS BEEN SOUGHT ....WHICH HAS RESULTED IN "PROGRESS" I.E. NOT RESOLVED
In late April, the Cabinet of the Mongolian Government issued a resolution directing the certification of exploration and exploitation licences by the central Land Agency such that local approvals on land use are not required. THIS REFERS ONLY TO LAND USE (I.E. NOT LAND PERMITS TO STORE OR TO ACCESS).
We are advised by industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), that this will allow work on all Production Sharing Contracts (PSCs) areas to progress without land access delays. (THIS IS.MUDDY. I READ THIS AS THERE REMAINS ISSUES WITH LAND ACCESS BUT BUSINESS CAN STILL PROGRESS I.E THE COMPANY DOES NOT NEED TO HALT ACTIVITIES WHILST IT WAITS FOR THE LAND ACCESS ISSUES RO BE RREMEDIED) whilst the planned amendments to the land law that will remove the current legal ambiguities pass through parliament.
We are pushing to secure the land certificates on Block XX and V as a matter of urgency. (WEVE NOT SECURED ALL THE REQUIRED LAND CERTIFICATES).
What is the difference some may ask between "access" permission and "use" permission and "storage permission" .. well even in UK land law just because you own a garden and have the right to grow food on it you're a bit stuffed if you dont have permission or right of way over someone elses land to access it or store the food on it.
I cant say ive got my head around it all but im not reading that there are no land permit issues in this RNS.
Mr P,
If this is good RNS, then what would be bad one? Is it that at which the price would rise by 12%? Lol
Are you all right? If so know the measure in your trills dear nightingale.
Curious, and others who have identified outstanding land issues arising from the alleged Soum decision:
I take your reservations as in good faith but unless the RNS below is lying I can't see where an obstruction remains re land access and/or use (mind, I don't have much faith in companies which dismiss objectors as "a vocal minority").
"In late April, the Cabinet of the Mongolian Government issued a resolution directing the certification of exploration and exploitation licences by the central Land Agency such that local approvals on land use are not required. We are advised by industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), that this will allow work on all Production Sharing Contracts (PSCs) areas to progress without land access delays whilst the planned amendments to the land law that will remove the current legal ambiguities pass through parliament. "
Thanks for sharing Jimi
Still waiting for Hamms 3p or was it 2p seems to be 3.6p to me probably back to 4p by Monday. No meat for your sandwich ham ?
Food for thought from a poster on the other Board-
"I think there are two parts to this: Production - Heron and Exploration - Raptor.
With all the storage facilities full when shipments can restart, I have no doubt that PetroChina will be wanting to try and catch-up lost production. If Heron is brought on line it may not be so simple to keep it producing. If PetroChina can ship oil out a lot faster than they produce then this will only be a slight hold up. Even with the Govt. permit MATD need to get the locals on side - thanks for the research TGM. This might be a bit harder and take a bit longer. How long will the Covid restrictions from China remain in place? Who knows. So production this year may be a big ask.
However I think that an exploration well or possibly two could well be on the cards.
Making this a tough call.
If neither were to take place, then the price will drop - not particularly insightful- should they drill the exploration well there could be a good run up and obviously if they find oil in the quantities they hope for then it could be the moonshot.
What to do."
Nothing happening here for months, promises of this that and the other happenings from 2019 haven't changed - 2023 before we see any production. imo.
Multi bag potential from here, but when?
If Covid is the only reason we’re not starting on time then fair enough.But if incompetence is the reason I will also be annoyed.We have been promised starting by end of June.As far as I’m concerned that’s written in stone ,no excuses(except lockdown because of Covid).Lets all wait until 30th June.Lets not forget that MB has over 8 million shares!
ID78 - the world, maybe.
But MATD are stated as sharing infrastructure and logistics with PetroChina's Mongolian affiliate which surely means covid delays impact on MATD.
Good morning Jimi,
Thank you very much for your enquiry.
We continue to engage with local and central Government to secure all necessary permits.
Local officials remain reticent to discuss applications due to lobbying on social media by a vocal minority protesting against industrial activity.
This included at a recent local meeting when allegations were made about the Company’s Environmental Impact Assessment despite the fact it was prepared as per the regulations and has been approved by the Ministry of Environment.
Petro Matad continues to seek input from central government on issues that cannot be resolved locally and this strategy has resulted in progress on the long-running land issue.
For further details and an operational update please see our latest RNS released today: 05 May https://www.londonstockexchange.com/news-article/MATD/operational-update/15438197.
We appreciate your ongoing support.
Best wishes,
Petro Matad
Good RNS. Clarifies lot of speculation and confusion over last week. Lot of moving parts covering both Block XX and Block V.
Velociraptor drill this year would be great.
Heron-1 still on track this year.
Central Govt driving things forward while implementing robust Governance framework along the way during this important transition as the Mongolia Oil and Gas industry evolves.
New convincing confirmation of the absolute worthlessness of this CEO and his team. If there is no clear program of action, no risks calculation and no any progress in meeting the specific challenges facing the company, then what should such leadership do? That's right - look for and find the reasons that they couldn't control. But, they are lucky and don’t even need to look for any other reasons. Covid only is enough and can be used to cover up and justify everything. Even if it concerning only China and there are plenty of drilling contractors in nearby Russia.
Full disgrace and nothing else as loss of another year is now almost guaranteed.
I received a response this morning to my email requesting clarification to the online rumours. However it was (of course and rightly so) a reiteration of the RNS put out today.
I have no idea if the Matad Soum decision has actually officially been served on the Company. Watch and wait for an updating RNS?
Jazbo- seems like a lot of the world is moving on, unfortunately China is still struggling to get to grips with covid.