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RNS this week?! You’d already said it was due the previous two weeks! Please, just stop with the predictions. It’s embarrassing.
Considering the running in parallel agreement which happened some time ago. It's about time young master Buck removed a finger and penned at least an operational update! Let shareholders at least see some advancement. Come on Mike, try a bit of responsible PR
Mr Badamsuren Eastern Province governor will want to say how Central Govt / local govt cooperation help investment & industry.
Think Petro Matad permission grant can be part of this because conference is about investment into region 🦉
Have give INTEL which does point everything pushing to RNS shortly. Also where they say "A co-operation agreement will be concluded with the owner of the special permit"
Tell me they already get and discuss letter from MRPAM which they did want to fast track signature.
From 28th Sept RNS about operation GO AHEAD in parallel with beauracracy process
The district representatives have signalled their willingness as long as Central Govt supports this. MRPAM confirmed support with letter.
I do not have insider info (lol) but think every sensible person know permission WILL come ( because legally CANNOT block).
Also if anyone look at Dornod development (thank you mr Dozzababa for link foe Investment Conference next week) & all plan to build up as commercial centre.
We have oil / We have MASSIVE upside / I HAVE shares already 😊
Be wise & focus on INVESTMENT 🦉
I'd like this to be sorted by Aril 24 please.
5 months.
20 odd weeks.
5% chance per week until then?
Form an East Sussex Petro Matad support group?
Doc great post, think it's worthwhile as many investors email, post on FB pages and Twitter and email PM. The more we get the info out the better for us all. At the end of the day we are all here to make money
Nusrat Ghani's constituency is Wealden in East Sussex. I don't suppose anyone here lives in that constituency?
If so, it would be well worth that person writing to her. Politicians are driven by votes, and they'll always try to look after one of their voters more than someone else.
Minister Nusrat Ghani Minister of Ministry of Interior J. We met with Ganbaatar and discussed how our two countries can cooperate in the field of mining and high-tech raw materials.
Nusret met the mining minister couple of days ago. She should be putting pressure on Mining minster to get this LP sorted
https://twitter.com/UKinMongolia/status/1719587787325030812?t=dJq2TpoUFLtZ2D45q9TYLw&s=19
Buying has been strong this afternoon.It will be interesting to see how it ends the day
Thanks for that Mon.
The only positive that I'd take from that is the apparent supremacy of the legal system in being able to bring miscreants to account?
Also the oil's there, they know it's there, why the protracted pushing and shoving with the Regional authorities.
If you've decided to nick something you've decided to nick something, just get on and do it?
Thornogson: regrettably there is a catalogue of businesses that have been “stolen “ from foreign companies. This has failed to sufficiently dent the investment market. Don’t fall into the trap of thinking MATD is any different. I know that there are others on this board who can give you a representative list of corruptly acquired business interests. With the prize of an interest in the o&g market many will go to any lengths to become involved irrespective of the consequences. You only have to look at how many past Mongolian Presidents have either been incarcerated for alleged corruption or have fled the country to avoid being brought before the courts. This is the tip of the iceberg.
MON. For PIs to miss out Petro Matad and Mr Buck will have to shafted good and proper.
That won't go unnoticed in the wider oil and mineral sector and won't happen because of this.
Companies are wary of committing time, resources and monies into tin pot African dictatorships who are incapable of sticking to the rules and Mongolia wont want to be viewed in these terms (I hope!)
Thanks Dozzawba.
When Petro China are producing most of your domestic crude oil however they have, to an extent, got them rather 'over a barrel' (pun intended).
If the Mongolian Government aren't happy with Petro China's behaviour it can only be for benefit to Petro Matad?
A foreign listed Mongolian company who are going to everything by the book and not cause any problems.
Which ever way you look at this I can't see any reason why this isn't going to happen for Petro Matad.
Having patience on AIM is a cliche but here I think for good reason.
Wait, wait and wait again but it will happen and patience will be rewarded.
Dozzawba; the problem is there are not enough people prepared to ask the hard questions of either the Mongolians or the UK authorities. Simply keeping fingers crossed and hoping is not going to cut it. There are however some working in the background to try and resolve the various challenges. Like you, it would benefit the cause of more we’re prepared to persistently ask the hard questions and highlight the gross inconsistencies here. Well done and keep it up!
I too am convinced this will ultimately come good. The problem is that PIs may not be beneficiaries in this equation. If the corruption prevails we will undoubtedly lose out.
Finally looks as if MG are starting to get serious with PC. Who knows maybe they will take away the license from PC.
The rest of the text
1. "Environment, water quality, waste water General requirements MNS4943:2015" is supplying waste water to nature,
2. There is no unified warehouse for storing chemicals, the storage and protection requirements of chemicals are not met,
3. Due to the non-introduction of oil-contaminated soil purification technology, a large amount of accumulation is polluting the environment.
. Due to the lack of on-site supervision during the remediation of the drilling fluid tailings pool, the quality of the remediation is not satisfactory. I would like to ask you what measures the Chinese government would take if a Mongolian company committed such a violation while operating in the territory of China. We officially inform you that if these violations are not eliminated, measures will be taken up to closing your business.
General Director of "Petro China Dachin Tamsag" LLC, General Director Zhu Dali: - If such a violation has been committed in our country, we will issue a time-bound task to eliminate the violation, and measures will be taken according to the cooperation agreement between the two parties. It will not immediately stop the operation without giving an opportunity to eliminate the violation.
B. Bat-Erdene, Minister of the Ministry of Education and Culture: I do not think that your country has such a lenient law. Your company needs to fulfill the tasks issued by our State Inspector General without questioning. I will give you one month's time to fulfill the Mongolian court's decision and the State Inspector General's official task. On December 1st, we will not accept an official letter saying "in progress or processing". I will visit the reality myself.
remove all affecting violations. Your company has been operating in Mongolia for 18 years. I'm giving you a month to go and see what he's done over the past 18 years. In addition, it will not be accepted to disrespect the citizens who are fighting for their land.
General Director of "Petro China Dachin Tamsag" LLC Zhu Dali said: "We will not run away from the problem, we will follow the laws of Mongolia. We will eliminate the violations."
Relooked at the translation of this using Google Translate which makes more sense and spells it out clear from Bat-Erdene
IF YOU ARE OPERATING IN THE TERRITORY OF MONGOLIA, YOU SHOULD OPERATE IN ACCORDANCE WITH THE RELEVANT LAWS
The Minister of Environmental Protection B. Bat-Erdene held a bilateral meeting with the managers of "Petrochaina Dachin Tamsag" LLC on the issue of eliminating violations and negative impacts on the environment.
At the meeting, General Director Zhu Dali, Executive Director Kang Dechuan, the company's Environmental Specialist U. Nachin, Head of the Mongolian Chinese Culture and Art Association, Rentsen, Head of the Department of Environmental Assessment and Audit of the Ministry of Education, Culture, Sports, Science and Technology, attended the meeting. Inspectors and experts of Enkhmunkh, Branch Inspection Department participated.
At the beginning of the meeting, the Minister of Environmental Protection B. Bat-Erdene said - I do not conduct a full analysis of air, soil, water, and wastewater as indicated in the detailed environmental impact assessment and environmental monitoring analysis, which are violations found during the inspection conducted during my tenure as Minister. I would like to ask about 4 issues that do not take measures to reduce the negative impact, do not fully implement the duties of environmental protection, and do not eliminate the detected violations within the specified time.
REST OF POST
Eliminate all violations that negatively affect the environment. Your company has been operating in Mongolia for 18 years. I'm giving you a month but I'm going to go see the work he's done for the past 18 years. Also, disrespect to citizens fighting for their land is unacceptable.
✅ "Petro China dachin tamsag" LLC General Director Ju Dali:- "We will not run away from problems, we will work by following Mongolian law and regulations. The violation will be eliminated" said.
FACEBOOK TRANSLATION
IF YOU ARE CARRYING OUT IN MONGOLIA'S LAND, YOU SHOULD WORK ACCORDING TO THE RELATED LEGAL ORGANIZATION
✅Minister of Foreign Affairs B. Bat-Erdene held a bilateral meeting with the managers of "Petrochaina dachin tamsag" LLC on the issue of eliminating negative impact and violations.
Zhu Dali, CEO of "Petro china dachin" LLC, CEO Kan Dechuan, Environmental Specialist of the company Wu. Head Rentsens of Nachin Mongolian Chinese Culture and Arts Support Association were given by Head of Environmental Assessment Audit Department of the Ministry of Agriculture G. Enkhmunkh, Inspectors and specialists of the Branch Control Office participated.
✅At the beginning of the meeting Minister of the Ministry of Agriculture B. Bat-Erdene said - I only do not fully analyze air, soil, water and wastewater as reflected in the environmental inspections, as a detailed assessment of the environmental inspection, environmental inspection, no measures to reduce the negative effects, fully implement my duty to protect the environment, pointing out the lack of violations I want to ask 4 problems that don't solve in time.
📍In this:
1. “Park environment, water quality, waste water General requirement MNS4943:2015” supplying waste water that does not meet the standard requirements,
2. There is no unified warehouse for chemical storage, chemical storage and protection are not required,
3. Due to not introduction of oil-contaminated soil treatment technology, large amount accumulation is creating and polluting the environment,
4. Due to the lack of on-site supervision during the Drill liquid waste fund rehabilitation, the quality of the rehabilitation is not satisfactory. I want to ask you what action would the Chinese government take if a Mongolian company committed such violations while operating in the territory of China. It is official that if these violations are not resolved, action will be taken until the end of your business.
✅ General Director General of "Petro China Dachin" LLC Zhu Dali:-If such a violation has been committed in our country, we will be given a timely task to eliminate the violation, and measures will be taken according to the bilateral cooperation agreement. Wouldn't the operation be stopped immediately without giving an opportunity to eliminate the violation.
✅Minister of Foreign Affairs B. Bat-Erdene:- I don't think your country has such a soft law. Your company needs to fulfill the duties of our State Inspector General without dispute. I will give you one month to fulfill the decision of the Mongolian court and the duties of the State Inspector General. On December 1, the official letter "in the making, in the process" will not be accepted. I'm going to see reality on my own.
Sh*t sorry copy link has picked up the wrong post.
Will repost
It is also interesting that Minister of Foreign affairs Bat-Erdene has had a meeting with Petro China ref their environmental issues they have caused. Check out the link. Hope it isn't just words and they follow it through if the Chinese don't play ball
https://m.facebook.com/story.php?story_fbid=pfbid0S9XkWTiFsy41Z5CncgiAfzLmafE8mKHS8UEwcNXQs9mzxWoBtkvhvZiuavVW9cy6l&id=100067733361317
If the Mongolian Government is sincere in it's desire to attract foreign investment and expertise being nagged by foreign politicians and representatives on a regular basis can only be a good thing in getting them to do 'the right thing'.
I fairly happy that this is all drifting our way in time for 2024 although Hamm's shout does appear to be a little premature which surprise me (not).