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il be adding as much as I can as soon as I can... being in the 3's is ridiculous and absolute steal.... considering we were @36p and didn't even have a successful well to our name! No brainer just add and stash away as confirmation of tie up with Petro China going forward with multibag this in matter of days
a lot of interested buyers are hoping for the "slow slide till Spring" - as Anotherlambo puts it ("might take a punt at 3p"). Nobody knows - consequently, that idea is based on nothing other than speculation. Could be right but could also be completely wrong. As always betting on the SP development going forward is a gamble. As Mr. Positiv correctly mentioned, PM's SP has often risen substantially during the winter months. Not only between December 2016 till Febr. 2017 but also last year. Short term it's pure speculation - as always. Middle to long term however, there is an enormous upside. The question that remains is: How long do the potential buyers want to wait to get their fair share of PM's potential success going forward? Speculating on the SP's bottom may or not be the right strategy. At this SP level and from my modest POV: It won't really make a big difference. GLA
Yes, I also think that a bank loan, and indeed the issue of raising capital is a contrived topic. Money can never be a problem even if you have a great business idea, not to mention an oil deposit with millions of barrels. Therefore, in order to understand what is happening, and even better to change today's abnormal situation, Mike and his team must not lose sight of the strategic goals first of all. And, secondly, to work anticipating not only possible failures but act ahead of the schedule of possible results. That is, you need not to wait for the appearance of these results, but to predict them and be ready to act promptly and not lag behind events, as is often the case with Matad.
Indeed, in fact the Price Minister U. Khurelsukh who supports the construction of oil refinery in Mongolia just recently visited Petro China oilfield to get acquainted with their operations. I believe he is eyeing his next big move of making the oil refinery project a success in Mongolia. FYI, this Prime Minister is known for his strong leadership and willpower to take the country's development to its next level. He even tackled the country's air pollution issue this year, but this news hasn't reached the global spotlight yet.
Good point MIF. And it only means that the Mongolian govt has every incentive to get a domestic oil producer up and running as they currently import all their oil - even that which is drilled in their country goes over the border to be refined and is then sold back I believe. And don't forget they've just started building their first oil refinery to be complete by 2022 or so. Hopefully it's big enough for raptor and fox!
Bonum, you do understand Mongolia has recently been put on a Grey List, MNT continues to slide, there is a significant shortage of USD and other currencies in Mongolia, and regardless of what you think lending from Mongolian banks is a process many have tried and failed with.
There are significant others on an international scale such as EBRD and ADB who especially have a long history with Mongolia and understand investing in country,
Am I am expert, probably not, but in terms of years of working in Mongolia and continuing to work there I can only share the slippery slope associated with an unpredictable banking system that can add significant risk to any project or long term investment.
Also bear in mind any deals with Petro China or others would have to be concluded in USD not MNT. I don’t need to explain to you FX risk.
Thanks Guys, I believe we will see a bounce back this week, I can be wrong of course, but any positive news regards to, bank loan, Petro China agreement or even Petrovic add more shares into their Portfolio will take us back to 5.50p - 6p range. Have a nice day all, take care. Obelix
We have a better than expected oil find - a clear message from the CEO that ge wont be reliant promarily on any placing route - a confirmation by the CRO that talks are underway with PetroChina on the production sharing facilities and which will also include Partnrrship discussions.
On the flipside, we have anonymous posters here giving their own 'expert opinions' as to why the CEO is wrong!!
I expect the CEO to do exactly what he states he'll do - secure funding from the Mongolian banks, likely sort out a Partnership with PetroChina at some point and conceding a very limited placing to make up any shortfall needed.
Isn't that what the CEO stated himself......or should we listen to 'little earn' and the abundance of other 'experts' suddenly frequenting this BB??
Obelix, over the past year all of my predictions were wrong and only one has come true - the discovery of oil at Heron. And the same with the SP. When I thought that it should grow, it was falling like a stone. Taking this in account I decided to build my assumptions using the reverse method. Therefore, I firmly declare that from tomorrow and til the start of oil production nothing good will happen and the price will fall. And it will be for the joy of our stray dogs that will start to bark even more furiously and loudly. Lol
Agree with Groover. I have done same only a few times just to get upto speed with latest developments. We all lead very busy lifestyles where sometines we just don't have the time. Having said that folks should still try and catch up with their own research when more time is available. Need to share the love, not put off new investors.
Stop sulking and take fair feedback on the chin. Novice investor has every right to ask for advice but clearly you're the sort that only believes in IM ALRIGHT JACK. As I said, u were a novice once and I know, and more importantly, YOU KNOW you would have asked a more experienced investor advice at least once. WE ALL HAVE.