The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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We are fast approaching the end of September and the end of yet another quarter. I think it is about time we got a serious update at to exactly where we are are or more precisely where we are not at the moment. Who or what is causing this delay and what are you doing to clear the obstacle. I think the time for letting the locals manage this shambles of a permit authorisation has long gone and we need to be a bit tougher in our approach. Some would say much tougher.
"This has to be the most frustrating investment with 4 years of nothing but BS"
You should try Kefi Gold & Copper, that's the most frustrating investment EVER!! Millions spent over 13 years (I think) and yet to produce a single ounce - or gram for you younger investors - of anything.
At least Matad have drilled holes and found oil, even if they can't get it out of the ground just yet. Soon though, hopefully.
Apologies for crossing board 😉
Wages are ridiculous for a company that is not active.
I working on my proof reading honest 😁 GLA
Post of the day, Barclaysshare exclaiming bribery is illegal. Yes, so is corruption! Welcome to Mongolia!!!
Saddest moment of the day, Jimibrush, who I really like, saying aloud, not allowed. There’s typos and there’s typos.
I’m watching as it seems to be on a down trend but coif offer excellent upside if they can get the relevant permissions.
Re the fundraise I think they’re ok for another 6-8 months. The below was from the financial updates. They had just over 5 mil in jan and spent 3 mil last yeah but they may have money left over from the fundraise in feb so may have nearer to a years money.
2022 Financial Highlights
· As of 31 December 2022, the Group's cash position was $5.1 million (Financial Assets) (31 December 2021: $8.2 million)
· The Group's net loss after tax for the twelve months ended 31 December 2022 was $2.95 million (31 December 2021: loss $2.1 million
With all this faffing around its clear the mongolian goverment wants to get the refinery up and running before the oil can be extracted. The mongolian goverment has made MB powerless to do anything and should stick to herding sheep instead of extracting oil. By the time the mongolian government/local authority allows PM to extract the oil from the ground it will be worth nothing as the world would have transitioned to green energy.
I am expecting another raise soon as PM must be running low on cash....
Im lucky my average is around the 2.6/7 mark but a part of me wishes I sold at a decent profit and just walked.
This has to be the most frustrating investment with 4 years of nothing but BS.
The planning permission comes down to the local government. Why do you think they are not willing to give PM the Land permit.
Local government is holding PM back due to bad negotiation skills.
Locals want better deal call it bribery or whatever you want. The world revolves around money.
Even in the west money talks. So don't think it doesn't happen. Its only illegal for average person. Big companies all work on back handers.
Look at BAE system with middle East contracts.
Also, BRIBERY IS ILLEGAL
In any case, PM aren't party to any negotiations. the government have offered alternate land areas to herdsmen involved.
Foreigners are not aloud to own any land in Mongolia so buying it is totally out of the question. Looking more like we're going to have to hunker down for another Mongolian winter. 😢 GLA
In return for LP. The locals want a good deal . That's what this is all about. Its nothing to do with environment
In return for what??
Improve their local schools hospitals. And they will be made up. Not clean up some rubbish in middle of nowhere, which took 1 day.
Mongolian farmers are probably like farmers everywhere. They would rather lose their right arm than give up the tiniest scrap of land no matter how much you offered them. I think legal enforcement was probably the best & maybe the only way to get the required access. My 2 tugriks.
Master, what sort of deal are u suggesting??
Exactly what I have been saying. We just have a CEO with very little negotiation skills. Money will buy anything.
He has spent almost 10m on wages. Just doesn't make sense.
Sorry Im on the outside of this share but watch with hope it gets the permission.
Random question could MATD not of gone to the local people and just paid over the odds for the land to solve the problem? Realistically a couple of mil could buy you quite a bit of land in Mongolia Id of thought, once you own the land it must make the process easier........
Joe - fear not. WOS, Hamm, Master, they’ve all said this is guaranteed so you’ve just got to wait now.
It was a pointless exercise going to the cabinet .
MB could've made a deal with the locals. Instead he will pay himself and minions another 2mil in wages.
We are all very aware of how slow things move here but this is getting ridiculous now.I am struggling to see any progress coming this year or am I just being negative it is getting hard to stay upbeat here
Woops, ignore!! Already dealt with.
Https://mongolia-gov-mn.translate.goog/news/view/26796?_x_tr_sl=mn&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
SLIPPIN BACK Not that it will affect PM.
Hamm’s contribution to this board”
“Can’t buy £1 of shares, hold onto your golden tickets!!!…
Guys”
LOL
What can anybody expect from the twins Doc/ bp?
Non investors. Waste of space and time.
They always quoting other posters and criticize them!
Please if you have anything to say but talking about other posters?!