The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@Bowley - all ex-Soviet countries were or are the same. Over time it's lessened in countries who eventually joined the EU, such as Bulgaria and Romania, but the USSR communistic system was totally corrupt through and through. Organised crime went through the roof straight after the USSR fell, as the armies of people employed in the security services in the Soviet bloc turned their hands to organised crime instead. Soviet communism was a really foul disease.
Personally this one trip pony needs to go. He has caused nothing but stress to shareholders and just doesn't have a clout to make things happen.
A good CEO would've solved this by now ..and would've had a legal team to look in to the complications and who is responsible for this issue.
Clearly the MG has flaws in their land law and should foot the bill for a company that has spent 130m .
Do not give Exploitation for land that you do not control.
Why can they give special permit for railway line from PC facilities to the oil refinery. Doesn't the same rule apply here
SELL OFF THE LICENSE TO PETROCHINA! GIVE VERY BIG MIDDLE FINGER TO THE CORRUPT MONGOLIAN SO CALLED THIRD NEIGHBORHOOD POLICY. GIVE VERY VERY BIG MIDDLE FINGER TO THE BLOODY LOCALS. THEY ARE TAKING THE INVESTORS FOR GRANTED. ENOUGH IS ENOUGH. SELL OFF THE LICENSE AND LEAVE THAT CORRUPT COUNTRY FOR GOOD RIGHT NOW!
Not great news but not unexpected.
Read the link below link. These are the real realities of doing business in Mongolia.
My colleague is working on a paper which highlights corruption in Mongolia presently. I will post it here shortly. I am beginning to feel a little sorry for Mike.
https://newsdirect.com/news/amarbayasgalan-dashzevegs-soviet-style-corruption-destabilizing-mongolia-336271381
Short, in that case MATD business is getting money from uk investors and wasing in Mongolia!
Thanks for clarification.
Guys, have a good day all.
MB really needs to question himself and his dignity. Here is a government that keeps making him dance with strings and he is dancing 🕺 along.
He should have some self respect and stand up and be vocal . He should even consider legal action
As much as I am tempted to voice my utter disdain at yet another delay, I actually want to look for the positive in this:
The update, although infuriating and totally predictable, is nothing more than "we are still progressing things forward", so the drop in SP I actually see as only temporary and further underpinning the baseline level for us going forward.
On the negative, isn't it curious how WOS is silent and not already back blabbering nonsense about done deals, and double digit SPs, and how happy he be is about the SP drop, remember as worry him no. No doubt this post will be removed by the website soon for "telling the truth" as my previous post was removed... curious, how corrupt things are these days and we sit back like beached whales and do nothing.
At least when we finally get progress and maybe an uplift in the SP for real, the inflationary affects of the global economy will mean a 9p SP only equates to 3.9p now. What a crock the investment market has become
As jamins said very well.
MB has been outside Mongolia most of the time.
Has been bidding for more land to explore why the one we have can't be used!
And still talking about advance talking!
Keeps telling us about renewable.
Short, tell me why MB should venture on more exploration and renewable while we hav e been waiting 5 years for H1 and still waiting?
I said get a temporary permit until its finalised
Doc83 and HappyDazes - as it also mentioned in that article ;
"Since market makers are sometimes involved as both brokers and dealers, this creates a conflict of interest because, as brokers, they are supposed to provide clients with the best execution. In contrast, as dealers, they become the counterparties and are therefore trading for profit. Thus, investors should be cautious."
MB drilled without a licence and then took the local governor to court and lost case. He can't do any worse.
He should get a temporary permit and start putting equipment together. What's the worst that could happen .
Another few million here and there won't make a difference . The team is getting paid for sitting idle . At least this way they are doing something.
Heron was drilled without permit and then the locals stopped it . But was allowed to be completed by oder of the mining ministry. Why can't they do the same.
Too easy for PM team to sit idle and make money from shareholders like us.
If I was major holder I would not hesitate and have a shakeup.
HappyDazes - I just smile at the people who buy shares in a company without even understanding who the biggest market participants are in that share. It's an incredible degree of naivety.
The only problem with the RNS today but might be a blessing is that the oils stays in the ground for a little longer which means the rewards will be greater ,hence why there are more buyers than sellers today as I said earlier that really the only way this share should go is up
I don't think MATD breaking the law by workover.
They can get the locals/district/government approval while other 'formalities' in process.
One positive point from RNS is we have enough cash for now.
Doc83 - ok, let's take your approach and totally ignore the actions of the people who by far buy and sell the most shares in MATD. Do you really think the likes of you and me drive the short term price action ?
Can I repeat yet again that MMs execute trades on behalf of investors but also trade for themselves. And when they trade, they are not dealing in small amounts - accumulation or distribution is done in a specific way however, so as to not to be too obvious. As it says in an article I read recently ;
"Having all the necessary information about the market and its vertical analysis, market makers have more opportunities to make profitable deals than any other market participant."
If someone attends the agm, one question to be asked of MB is how many days did you spend in Mongolia in the last year.
The second question is why bid on more blocks when (a) the company has no revenue and the mcap is in the toilet so will be excessively dilutive if share issue is the vehicle
(b) if you get a block you can’t do anything with it due to the government.
Master, I guess you might be right. MB has no leadership, charisma or initiative.
No guts I am afraid. He is still saying about MG support, advance talking exploration and renewable.
Complete disappointment I am afraid.
"The local district authorities have however indicated that they are open to the Company operating in parallel with the slow-moving bureaucracy if Central Government supports the Company in doing so. This option is now being pursued as a priority."
This year isn't quite a write off yet. We could still have Heron up and running before year end.
//I’m at a loss what else MATD can do.//
Sell off Heron to the highest bidder (probably Petrochina) and get back to exploring new blocks which is what MB likes to do.
@Doc83 Funny isn't it how often the myth that MMs have such an effect on the market comes up. Those pesky magical wizard MMs ha ha
The locals have and continued to block this. So why would they then allow us to proceed in parallel with getting everything else sorted. No chance.
It pains me to say, but MB has made it quite clear that this year is a write off. I expect the SP to drift down to 2-2.5p. News will be needed of it being resolved *very early* in 2024 otherwise cash will almost certainly need to be raised, although I’m not convinced they’ll manage to do so in the market.
I’m at a loss what else MATD can do. Even getting the UK ambassador involved has seemingly had no positive impact.
Yes, MB should go to MM insisting starts of workover now.
He should definitely use MS and seriously questioning MG !
He should really stop all other activities like renewable nonsense and exploration in a country that don't appreciate foreign investors.
Don't forget MATD has already spent millions to find oil and has been waiting 5 years and has all sorts of license but unable to extract oil!
//The district representatives have signalled their willingness to consider this so long as the Central Government supports the initiative and MRPAM has confirmed its support and is preparing a letter to that effect.”//
That's just newspeak for saying - we're kicking this around to cause more delays!