Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The Economist on China's zero covid policy ...
https://www.economist.com/finance-and-economics/2022/05/07/chinas-erratic-policies-are-terrifying-investors
IFC, a member of the World Bank Group, is the world's largest private development agency, focusing on the private sector in emerging markets. In fiscal 2021, IFC set a record $ 31.5 billion for private companies and financial institutions in developing countries, highlighting the role of the private sector in eradicating extreme poverty and providing incentives for inclusive growth in countries struggling with the pandemic.
I wish it were that simple grab a couple of Jerry cans shove a bit of oil in it and cart it down the road. Somehow i doubt it.
For heaven's sake MB how hard can it be . Drill the hole . Stick the nodding donkey in place and extract the black stuff . Stick it in a container and take it away to be sold. Not rocket science. Get on with the job in hand else pass the baton on to someone hungrier to get the job done .
They hope that this initiative will strengthen mutual trust between investors and local communities and give a clear impetus to the sustainable and inclusive development of Mongolia's mining sector. With the way Mongolia's processes work I hope it's sooner rather than later. I don't think we are mile's away but I believe once the borders are open then it's game on but again we know how long these things can drag on. AIMHO. GLA
Thank you for this Jimi but i am just a bit confused was anything decided or was it just a talking shop with nothing really said discussed or resolved. Do you think it has moved us any nearer or are still miles away or at least appear miles away. Or once China open up we can move forward or will we still have this issue over rights permits and licenses.
Empty promises definitely comes from MB.
He said in 2018 .
We will be doing 4 well exploration. Delivered 2
2019 again 4 well exploration. Delivered 3
He even said there was enough money to do 4 wells in 2019 but God knows where the money went and thus we had a 10mill raise.
So far not a good cv at PM ..MB .
HE needs to get his backside there and sort the issues out. He is a paid a CEO so it's his responsibility to do the job to very good standards and not blame it on this and that situation.
2018/2019 no covid restrictions and he still messed up.
Ojay .well im still slogging it out here but my patience is beyond. Empty promises month on month we go by with nothing.
Personally I can't see heron 2 or 3 this year. Might be better to just wait till we get these issues sorted and get a rig.
Knowing MB he will be chasing and wasting money on exploration .
master82,
This management and its CEO not just incompetent. They are f...g crooks, constantly laying and misleading investors.
All these years this scoundrel was only busy making empty promises, knowing perfectly well that he would not be able to fulfill them. Isn't he, who promise to drill Heron yet a last year, while till now land access is not sorted? Even covid that he constantly tries to hide behind did not even become a fig leaf for him. I have no doubt that with such a CEO there will be no drilling this year, and the next year will be as disastrous as all its previous years.
Horsers: You're right - you probably won't get to see that type of RNS. Instead, you may get an RNS along the following lines:
"PM are extremely happy to inform that most of the doom sayers have jumped ship and that the investors who have been sticking with us during all these difficult years will finally be heavily rewarded. Congratulations!"
I wonder whether we will ever get an RNS that starts with 'MATD are please to provide the following update ........'
It just never happens what a total shambles this share has become
Makes me wonder now the meeting has been held if the necessary documents and information needed to progress through the relevant people or departments may accelerate the process so we can get on with the job and maybe start production sooner rather than later and hopefully China open the borders so we can crack on and see an appreciation of the share price to match. One lives in hope. GLA
That's exactly what I am trying to say. How can other companies not be affected by covid and lockdown or land access .
Elixir have been constantly working for the past few years no hiccups there..
MB mentioned in one his interview we will be there as soon as weather is good. But still no sign of the rig or even a rig contract.
Personally this year will be wasted and SP will be down due to this incompetent management team.
Better to come back here once the land access is sorted and rig is mobilised.
Good post Jimi.... but apparently we don't need to engage the community anymore. Community engagement has been surpassed by legislation have yoi not heard? Apparently we can build access roads across the other people's lands, sending multiple trucks a day over them, without their permission. Its all implied in the use permit... who knew!
5 May 2022
OPERATIONS UPDATE
HIGHLIGHTS
• Tim-2 well drilled
• Yangir-4 appraisal well recently spudded
• Bulag Suuj-1S exploration well due to spud later this week
Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an update on the coal bed
methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX Coal
CBM Production Sharing Contract (PSC).
The Company has recently finished drilling the Tim-2 appraisal well – a follow on from the successful
Tim-1S exploration well drilled earlier this year. Tim-2 logged drilled to a total depth of 1,020 metres
– the deepest well Elixir has drilled in Mongolia to date. It logged 3 metres of coal and 5 metres of
silty coal. Localized faulting is attributed for the decrease in coal thickness from Tim-1, and Elixir will
now integrate the Tim-2 results with geological mapping, age dating and potentially new seismic to
better define this coal bearing sub-basin.
Newly hired drilling contractor Ellecohr LLC has recently spudded its first well for Elixir, Yangir-4, an
appraisal well in the previously identified coal bearing Yangir sub-basin.
The Top Diamond Drilling LLC rig which drilled Tim-2 has now mobilized to a new potential sub-basin
in the West of the PSC (see map below) and will spud the Bulag Suuj -1 well imminently.
https://wcsecure.weblink.com.au/clients/elixirenergy/v2/headline.aspx?headlineid=61090634
As part of Mongolia's Vision 2050 long-term development policy, the government aims to develop transparent and accountable mining. Mining and heavy industry play a key role in the recovery policy to accelerate economic development. Increasing access to information and building trust at the local level is an important component in the successful implementation of long- and medium-term policies. The International Finance Corporation's Transparency for Development program works with government agencies, mining companies, and civil society organizations to improve current practices in the disclosure of mining information in the form of open data and to strengthen the digital and analytical capacity of data processors.
As part of the program, a multi-stakeholder discussion on “Mining and Community: Trust-Building Data” was held today at the Shangri-La Hotel. The purpose of the forum is to raise awareness of the use and disclosure of open data, which is important for the people of the mining region, and to guide and stimulate multi-stakeholder dialogue on the needs of local communities related to mining revenue management, society, the environment and governance. The organizers of the discussion emphasized that
Rufat Alimardanov, Resident Representative of the International Finance Corporation in Mongolia, O.Batnairamdal, Deputy Minister of Mining and Heavy Industry, and B.Delgermaa, Transparency Coordinator for Development, Mongolia, opened the discussion. “Sharing data and information with local people and communities is crucial for citizens to be recognized and successful. In addition, Mongolia has an important role to play in attracting long-term investment and expanding based on the principles of sustainable and inclusive development, ”said Deputy Minister O.Batnairamdal in his report.
The International Finance Corporation (IFC) has also signed a Memorandum of Understanding (MoU) with the Ministry of Mines to promote e-learning and skills development for citizens and government officials to support the development of mining communities and increase the use of mining data. Through this MoU, IFC will provide technical assistance to the Ministry of Mines to learn best practices in open data, thus meeting the information needs of local communities in the mining sector and the effective use of existing data by relevant local officials, citizens and civil society organizations. The electronic ability is enhanced. IFC's support is part of the Transparency International Development Program.
IFC Mongolia Country Representative Rufat Alimardanov said, “Experience in ensuring effective transparency and using data and information is essential to help all stakeholders reap the benefits of investment in the mining sector. In particular, it allows local communities to better understand the positive effects of the mining sector, such as job creation and supply opportunities for local businesses, and the potential environmental and social risks
master82: We will be waiting on the surface equipment being fabricated then shipped in any event. The land certificate issue could get dealt with in parallel with that. There is no reason to believe the land certificate issue will not get dealt with the in same method as the land use issue, e.g. any problems and some discussion with the central government can sort the problem out in the worst case.
Regarding the surface equipment, I would guess (obviously I can't know but would suspect) that they have ordered the surface equipment from Chinese suppliers due to proximity and cost, if this is the case that bodes well for delivery times as China is reputed for doing things fast and economically (to be diplomatic about it).
I'm also optimistic that the designs for the tank(s), pump and generator are standard design (see below photo showing duplicate equipment designs across wells), which should further reduce delivery times.
https://news.mn/wp-content/archive1/english/photo/2013/4/643d260c00cd8633/4bd515b3ff8c085big.jpg
It would not surprise me if the delivery period for the aforementioned items is measured in weeks rather than months if ordered from Chinese suppliers, it looks like some of the items could even be "off-the-shelf" or available for rent
https://www.alibaba.com/product-detail/High-efficiency-rocking-machine-donkey-pump_244222975.html?spm=a2700.pc_countrysearch.main07.187.43b85e63CCMAm7
I have personally not written off 2022 for MATD for getting Heron-1 online as equipment delivery times could well be much lower than expected for Western O&G projects,
All in my humble opinion / do your own research
Funny how some of the blatant rampers (10p in May, 30-40p this year) seem to have gone awfully quiet!
We are still waiting for the land certificate. So until we have that nothing can happen.
From RNS
We are pushing to secure the land certificates on Block XX and V as a matter of urgency. We will follow a similar strategy with the central Government if required to ensure there is no impact on our already completed environmental permitting.
Use does not imply access and egress. Assume it if you want though...
I am invested but understand the issues. I am assuming the Company does too, even if some on this board dont.
curiouser - Lets ask the Board to attach copies of all legal documents mentioned in an RNS to each RNS, including the full Exploitation Licence, Production Sharing Contracts (PSCs) etc etc.
Use implies ingress & egress :- otherwise we'll all open up solicitors office in Mongolia to check on them. Some times you have to trust your Board or sell up.
A simple discussion of when no access to priperty
https://www.co-oplegalservices.co.uk/media-centre/articles-jan-apr-2017/access-rights-when-buying-property/
No USE does NOT include access and egress! Thats the whole point.
Even in english law although i can apply for and be granted use (or change of use e.g. from residential to business use), but if someone owns the access to my property then clearly and absolutely that issue is NOT resolved by a USE decision.
Basic land law this. See easements/rights of way