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Would another couple of months make that much difference to your decision, as you say, you would only lose 2.5k if you sold, and it is only a loss if you do sell, personally I would wait to see how things develop and then re-evaluate the situation, set yourself a time limit and if nothing has materialised then decide, good luck to you whatever you decide. GLA
Well SYFP - wouldn't like to see you go; I'm probably not the only BB reader who appreciats your posts. Advice and inspirational too? Looks like you'd like to get reasons for NOT jumping ship. You'll have to figure that one out on your own.
At the current SP levels I (as a LTH for a bit more than 10 years - and in the red) can't come up with a prudent argument for selling below acquisition cost. Only if I had a crystal ball which would tell me that oil prices would slip even more than we've seen in the last couple of days (and would remain there for many years) or that PM would not be granted an exploitation license this year I would sympathize with the notion of selling. However, nobody knows what's coming. Personally, I believe PM's business will eventually come good. I keep on saying that it may take longer than any short term investor is willing to wait. Tough luck for short termers - I am willing to wait.
Conclusio: I wouldn't sell. Selling opportunities will be plentiful if you are willing to wait.
With the uncertainty across the world of the value of oil without a market, I'm toying with the idea of selling my shares cutting my losses, (lose around 2.5k) any inspirational advice to stick with it? Thankyou in advance.
The first week of June will mark my 10 years since I first invested in MATD. My gut feel on licence was May even though I hoped would come earlier as I couldn't bear to think about waiting 5 months in 2020. May is just around the corner parliament is back sitting and hopefully we are up soon in their agenda. In 10 Years I have never been more confident that we will see some serious price action whether it is 2020 or 21 I think Mike will set us up to succeed. Big buying numbers slowly happening not in big numbers but analyse the last 3 weeks and you can see we are forming a good base.
Further to the statement earlier today it has also been noted that the chairman of the committee PDPA KH Bolochuluun had been approached several times and not one single issue had been addressed let alone resolved, that's why the lawsuit has been filed. Gives a little more insight I suppose, food for thought. Hope this helps. GLA
Petertee, I'm not very well versed on the politics of Mongolia to be honest, but I remember posting a while back that Matd seemed to be having similar issues, but it does show that issues like this seem to be a common thing. So hopefully Mr Buck will have things in hand, so all we can do at present is be a little more patient and see what developments arrive via RNS'S. I, like many others await with bated breath. Stay safe and GLA.
At the request of MRPAM, the court hearing on whether to revoke the A license of the Matad soum center was postponed 2020/04/22
At the request of MRPAM, In Zuunbulag, the capital of Matad soum, Dornod aimag, the Talin Jiguur company has acquired an A coal license. By the decision of the Head of the Cadastre Department of the Mineral Resources and Petroleum Authority on December 28, 2018, the soum center is ready to be excavated at any time. The Matad soum authorities have repeatedly called for the revocation of the A license, as this has affected the legitimate interests of Matad soum residents and disrupted the normal functioning of government agencies. U.Khurelsukh, Prime Minister of Mongolia, U.Enkhtuvshin, Deputy Prime Minister, A.Sukhbat, Minister of Mining and Heavy Industry, N.Tserenbat, Minister of Nature, Environment and Tourism, Kh.Kherlen, Head of MRPAM, Member of Parliament, I have repeatedly approached the chairman of the committee, Kh. Therefore, the head of the soum's CRH has filed a lawsuit in the Administrative Court of First Instance. The trial was scheduled for yesterday, but was postponed until May 6 at the request of MRPAM. Update from previous post. GLA
Mongolia Investing Nearly $1 Billion To Develop Downstream CapabilitiesOilPrice.comIn addition to saving as much as $1 billion a year in import costs, the new refinery could help boost Mongolia's GDP by 10 percent, according to statements from the Cabinet. Initial projections put the facility's turnover at $1.2 billion per year, with ...and more
A court hearing on whether to revoke the A license of the Matad soum center will be held today 2020/04/20
A court hearing on whether to revoke the A license of the Matad soum center will be held today In 2005, the presidium of Matad soum CRH issued a resolution to vacate the land in the soum center. Subsequently, the soum center was owned by the Talin Jiguur company under a coal exploration license and changed to a mining license in January 2019. The current administration of Matad soum has appealed to the court of first instance to revoke the license of “Talin Jiguur” company, claiming that the Mineral Resources Authority of Mongolia has issued a mineral exploration and mining license to the company based on an illegal decision. Today, a court hearing will be held on whether to revoke the A license of the Matad soum center. By the way, due to the above illegal decision, Matad soum is still unable to approve the soum development plan, 932 citizens who own land. Gives a little info that the government are working on things. Wonder if a decision will be made soon for exploitation licence??? GLA