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Edit: as at 19th December (not 29th)
So there were FOUR steps outstanding at 29th December.
1. Money to be received in the Provincial Government account.
2. Once received Governor to sign the Tripartite Agreement (all others parties having signed).
3. Issuance of the special permit to MMHI; and
4. The signing of the Land Contract between the Matad District and the Company.
The remaining steps in the regulatory process, once the Tripartite Agreement is signed off by the Provincial Governor.
1. Issuance of the special permit to MMHI; and
2. the signing of the Land Contract between the Matad District and the Company.
The tripartite agreement. Just a reminder from the RNS.
The Central Land Agency has completed the registration of the area and issued and signed the key Tripartite Agreement. The Ministry of Mining and Heavy Industry (MMHI) has also signed, leaving only the Governor of Dornod Province to sign.
He has said he will sign once the money to make compensation payments to the 10 herder families impacted by the certification of the area has been transferred to the Provincial Government account.
One more Day (Come on MATD ) I dont want to lose 2 million shares LOL
Just thinking that the ' tripartite agreement ' has two of the three signatures signed already. And the last RNS stated that the governor had agreed to add the third signature once the herdsman's money had been transferred to the regional government.
Now I presume that the governor has signed something to this effect - in which case surely he is legally bound to what he has signed ? I can't believe that an agreement for this third signature was purely verbal ? If this is the case, then it really is purely a matter of time surely ? I would imagine that the three parties met at one stage, and the governor then stated his intention during this meeting.
An RNS was released on 14th February last year....Just saying.
Doc, hopefully the last one. But the beauty of this is that it opens massive transformation and opportunities.
Guys, this is not a gamble. MATD has billions of proven oil sitting. One signature and off we go. That could happen any day.
I can say RNS confirming LP = Rerate.
Don't loose your valuable shares guys
"Just the last signature"
There's always just one more hurdle to jump with MATD!
Guys No news = no RNS, and if there is no RNS there is no news. However the fact is compensation has agreed with the herds family and money transfered from MATD account. Just need the last confirmation to release the fund. This is where we are. Just the last signature and when it comes it will transform the company and as the result the share price will rerated. RNS can be any day and the day it comes the share price will triple if not more. All the negative sentiment will change fast. Bear in mind we have lots of time till the next drill season. I expect RNS upto the end of the month max.
Dozzawba, understand mate but being abusive towards the CEO or trashing the company doesn't get you anywhere, it's not the CEOs fault the government of Mongolia have started a new process and taking their time, we are all adults here and surely know the CEO is doing his best, he too has money tied in here, again you say they those that are posting negatives have no ulterior motives then why are you allowing for them to say MB has some sort of motive here,
Yes new to the share but wouldn't hang around for 5 years just leave rather moan and deteriorating here
Excellent post Dozzawba - just the way I think and feel.
Cyberton, with respect as per DazzerG i have also been invested in PM a long time. I will repeat what i have said before. Mike Buck's communication is IMO appalling. His treatment of private investors is as said IMO shocking. We investors seem to only hear what is happening in Mongolia via social media and private investors digging around for information. I have emailed him and Admin at PM on numerous occasions, without a decent reply.
Genuine investors who haven't got an ulterior motive are entitled to their opinions and to voice their thoughts on here and it doesn't mean that they are wanting to sell or talk the SP down, it's frustration of having to wait for years on end to get where we believe we should of been a long time ago. I'm not totally blaming Buck for everything that has happened, but he has continued to keep us investors in the dark and that's what p*sses me off about him. Also i do not want to sell as i am also down on my investment, not much but still down so why would i want to sell. I believe in PM and that it will come good so when genuine investors have a moan Cyberton don't take it that we all have ulterior motives
Researchandhold said //BP is like a stain on humanity//
Cyber - //there is no get rich quick scheme//
That's hilarious coming from someone who thinks this share will multibag the day after the LP is announced!
Dear Mr Cybertron
If only what you say was so…
However, I get the impression you have only recently arrived at the PM party.
Many more of us have been here far longer - on the back of multiple false updates (and indeed promises).
So where you say wait a few months, for me it is over 5 years… and still waiting..!! Others on here even longer.
Where you say sell up - I think that is a very immature and childish statement - especially where the current share price is below the average (in my case).
The best analogy I can give you.. It’s a bit like living in a house bought 5 years ago, that you want to sell - but that house is now in negative equity - so to sell would mean a big loss.
Any sensible person would try to not sell their investment at a loss..! Or try not to unless they have or need to…
In theory yes but then that would mean that for the past X years during which they did operational updates every 2-3 months they never had any news in between that would have materially affected the share price
Those saying the company likes to gather news and publish every few months. I'm pretty sure the company has a legal obligation to promptly publish any news which may materially affect the share price.
Right now I'm monitoring US Nasdaq stocks every single day with ' news' which has just broken, and creates the sudden price action which is great for day trading. Based on this study, it's obvious to me that anybody who expects some nice smooth price action from MATD in the future is most likely deluded. Even with positive news it will continue to be a volatile, crazy ride. Every day I watch a dozen or so US small cap stocks with ' positive breaking news ' shoot up and then often fall back rapidly once the day traders and the algos have done their work. People are up against computers which are using algos based on technical analysis.
If you look at a MATD candlestick daily chart then it's obvious that the price action for years has been dominated by technical analysis, and algo trading. Yes, you get ' news ' but then it always spikes to previous resistance levels. Recently it hit a double top on the 28/12/23 and then on the 17/01/24. Now we have fallen back from the last top of 4.5p into what looks like an ascending trend line which started on 14/11/23. It remains to be seen whether it supports on bottom of this trend line which we are on now, or whether it falls through it - though the last daily candlestick and the one forming so far today look quite bullish.
I must say that I am amazed when I hear that some ' long term investors ' who get involved with AIM stocks appear to be oblivious to charts and technical analysis. I know of one trader who scalps US stocks ever day that have had ' news ' on that day, and he has consistently made several million Dollars for each of the last few years. And that's all based on scalping on a daily basis using technical analysis - with the catalyst each day being some kind of positive news release. Anybody trading MATD these last 7 or 8 years could already have made serious money. This recent drift lower since 22/01/24 has been on low volume by the way.
Grown up old men behaving like kids a in playground, seriously guys sell up and just go and save yourself! If you can't take waiting a few months on ground breaking news that could change alot of things here, this is Aim this is business, it's not as easy as I put money in and I become rich over night, patience and time needed, there is no get rich quick scheme
DazzerG: Well said, fully agree. Not even the fails that hurt so much: It's the lack and unwillingness to provide reasoning, transparency and at least an attempt to gain support of the investors.
I'd really like to support MB in his efforts to do good for the company, the PIs and himself - but I can't recognize those efforts (show them gddmit!).
Of course it's frustrating, it's been going on for way too long. But as I said before the company always did operational overview updates in certain months (longer time apart) rather than frequent news, land permit issue or not it has always been so
Hi Doc83
As ever, I fully concur with your comments, thoughts and feedback.
Our Petro Matad leader, Mr Buck - seems to still be taking us down the proverbial never ending garden path.
His strategic leadership and direction is quite frankly shocking.
His communications (and timeliness of comms), is not the way a professional organisation should operate.
Maybe that’s the problem - PM under Mr Buck are simply not a professionally led company..!
So many false updates etc over the years.
Even now, nigh on another 2 months since the last weak update from the RNS - and still no updates.
Obviously PM don’t seem too interested in it’s investors and therefore stakeholders..!!
Coldjoe - we’re not disappointed because we’re waiting for some standard operational update. We’re disappointed because this has dragged on for years and now the latest “should be resolved soon” is closing in on two months and counting.
Yep it's true that people seem to wait for the next boom or momentum trade, hopefully, we get that here soon after the next update
They do it because they can. No regulation hence manipulation is rife. Overall lack of liquidity on AIM now means limited people are willing to hold longer term and more are chasing the dream/boom situations like He1 if getting in at the latest funding raise level of 0.25p or below. Many did, some didn't. At least the x 10 + profit takers have cash to burn on their next speculative selection. :o).