We chatted to IronRidge Resources' CEO Vincent Mascolo who explains why the company has become a lithium explorer. Watch the video here.
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Let's say 60mb recoverable x $50= 3.000.000.000.
Seems really undervalue.
Could easily get to 30p.
But if we ever get EL!
Just had a listen in to the AGM, only one question at the end about the value of the Heron field and FDP:
MB said that the base-case recoverable was 33MMbbls (from OIP of nearly 200MMbbls) but that they are aiming for a RF of around 30%, so the recoverable oil will be between 33-66MMbbls. Without giving a specific NPV10 he stated that this would clearly be in the "hundreds of millions of dollars range" depending on the prevailing oil price.
The increased RF would be due to various drilling techniques (slanted / radial / horizontal drilling) most of which have not been used in Mongolia before.
The meeting re granting the exploitation licence he hopes will go ahead as soon as lockdown restrictions are lifted in Mongolia.
Unfortunately, there was no mention of, or questions about, financing / partnering etc
Conversely EL/JV in sight and given the final stage meeting for the EL in mid Nov, looking for a remote re-scheduling (or already re-scheduled) as communicated in the official RNS.
It looks like the price has buoyed up well in expectation of said ‘company making’ developments, hence it can be argued that it’s hazardous to actively try to trade the stock, given the massive disparity in Upside v downside projections.
I certainly wouldn’t want to be caught out on the wrong side of any ‘trade’ given the aforementioned but each to their own.
That Knockdown/Lockdown typo seems to about cover it !!
GL - Oilf.
So got to ask ourselves how is EXR making progress despite the Mongolian Covid Knockdown ?
Elixir Energy doubles it's gas resource on China's doorstep ......
Hope Matad's little venture can get up off the floor in sharp order !!
GL - Oilf. (Sold at 2.7p bought half back at 2.5p the other day to reduce my exposure and feel more comfortable on the run in to today's AGM and potentially no EL or JV in sight yet... giving another buying opportunity on the horizon ?)
I would expect people here to discuss / argue the various factors & issues underpinning an investment and assuming we all have a certain level of maturity requisite for involvement in the investing space.
What I find more difficult to acknowledge, is any form of relentless, emotional outpouring, when the more obvious route would be to articulate ones thoughts and then disinvest - moving on to other pastures.
If any individual states they ‘can’t afford to due to paper losses’, then we can reasonably assume they expect the fortunes of the company to change - or why stay invested?
In theory, people are entitled to post what they want and within the LSE chat guidelines - in practice, one questions why such meltdowns are necessary when the aforementioned disinvestment route can be followed.
Getting back to the actual investment and beyond any emotional issues playing out on this BB, the Exploitation License is in the last stages of progression and as we know, will be transformational for the company & share price - hopefully the daily meltdowns communicated by some will be transformed into tears of joy (or genuine sorrow), dependent on it they are actually invested or not.
From a macro economic perspective and looking at oil price projections going forward;
Atb & have a tear free day
Continually blaming MB imho is wrong - yes it's frustrating how this has panned out but this year has not been a "normal" year all round but tell me what was he supposed to do with the government - tell them to pull their fkg finger out and then alienate PM - surely their major shareholder being a big Mongolian company would have some sort of voice and been the route to government but obviously they can only do so much, but as said imho blaming MB is undue
Manro, my final word to you would be to read back what you wrote and see if it makes sense. There is due process which needs to be followed. If you think that a £17m company is going to have any sort of significant influence over the government of a nation and its process then you need to think again. If you also think that the CEO of the said company in following the process and whatever that involves (including waiting and making themselves available when needed) then I cannot say anymore to you.
As far as I know, these things have never happened overnight but have known it to take a month (if process is established) and sometimes over 2 years if the process is new.
I don't know how else say this to you but kept it simple as possible.
Expect these shares to slide back (gradually) to 2.40p
but there is no hurry, as the earliest drilling on the Heron
project will start would be April 2021
Hope the feud between Mongolian Government and
local council will get resolved - sooner rather than later
First of all please don't tell me what to do. And secondly this is not about money only. The problem I have got and suppose many other LTH it is that we have suddenly founded ourself not in oil field but cesspool from where we can't get out without heavy losses. Not saying how many great investments opportunities have being lost. And all this happened just because of Mike's gilt and his constant lies about what kind of tremendous support the company enjoys from the government. If this were so, then he should have come to an agreement with the government and get EL long ago. But he couldn't even complete Heron drilling which was blocked by the police because of absence an agreement with the local administration. Or you have already forgotten about all this? So it's time to stop being stupid and not only face the truth but even be ready to act if this farce and deception continues further.
Perhaps vent your anger with your questions as offered in the AGM RNS
Shareholders may submit questions relating to the business of the meeting in advance by email to email@example.com. Questions submitted using this mechanism will be answered by the Chair at the meeting.
The frustration-venting/solving-capabilities of this BB are very limited. Consequently, I would recommend anyone harbouring those type of frustration issues to direct them to the people in question. There's not much the posters on this board can do to help.
In addition, I would like to point out that when investing in an AIM company you accept to be subject to "forces" which are beyond your control - those are the rules of the game. Love it or leave it.
Manro, get over it. You sound so SO bitter after having put so much unfounded confidence in the CEO previously. Its no ones fault you had plenty of chances to trade this share from 2p all the way to 10p on more than one occasion!
OK you didn't get the target you had in your mind, it happens im just really FED UP of seeing the same sh*t written again and again.
At the beginning it was how good the CEO was now now how terrible he is. I doubt very much you lost any money, just didn't make as much as you had hoped.
Give it a REST
Don't worry it will be the same old crap till the next rubbish announcement. This is how this management has worked before and specially now. When they are sitting in different countries without any knowledge who and what have to do.
No final results = "we are working on funding and talking to officials" = crap. Any other (positive) information would clearly be welcome.
But no worries; everything takes (a lot) more time when it comes to MATD.
GL to all.
Are we going to get some progress update at the AGM.
Or will it be same old crap" we are working on funding and talking to officials".
Just like I mentioned on Dec. 1. Gotta get those presents under the Xmas tree!
Seems like quarintine ristrictions will be lifted from next week in Mongolia. Hope and fingers crossed the meeting occurs next week.
...rapid monetisation from Heron incorporating wider field development and the various options there - financing, JVs etc
Any ‘P+D’ activity would be surprising, given that we’re lucky to break above 10 posts daily here and usually only a couple. We can presume that the incremental price rise is part of the previously discussed uptrend establishing itself and towards the inevitable (and company making) EL issuance - it certainly would be ‘nice’ for some people to secure stock at their 2.4p target entry, but given the potential upside, securing any stock at current levels should give a multiple ROI - or keep waiting and see ;)
Regarding a ‘defined route to monetisation’, it really depends in how much detail an individual expects from such a statement. I’d go by presentations made by the CEO in looking at rapid revenue generation from Heron 1 and various other avenues that would open up.
It may be beneficial to view the resources available along with the various company RNSs.
I think many of us are well aware that the steady incremental price rise is at variance to certain individual ‘trading strategies’ that. Retain contributors to this forum may have.
It’s their prerogative to implement them as they see feet albeit the flip side also applies insofar as an appreciating share price locking them out of a potentially massive investment opportunity.
We can perhaps accept the validity of that to establish some level of civility on this BB.
Atb & have a good day all
The P+D appears to be over (if that is what it was)
and the SP is heading back to 2.40p
while we await the postponed meeting to be
re-scheduled (probably looking at January
at the earliest) Then the remaining steps
towards to issuance of the EL have to be
ironed out - so we can get moving by April
on Heron-1 and drilling the other Heron
prospects in Q2 2021 (after funding has
Well worth the 30 mins viewing IMHO
Good post Ojay and a well balanced perspective.
What I would add is that the ‘market nerves’ if you like, already seem to have been well priced in, given the existent asset we have and defined route to revenue generation against the delays in the Exploitation Licence issuance and working capital requirements by the end of Q2 2021.
Also, although many of us are LTHs, those buying into the stock now (or have done recently), should benefit from the same upside ‘reward’, for a much shorter holding period.
Investors will indeed start ‘piling on’ when the EL is issued and I don’t believe that’ll be long in coming now - in the meantime, it’s good to see a steady, incremental rise in the SP, with suitable short consolidation periods.
A lot of speculation going on concerning MATD's SP during the next couple of months.
Once the EL - which would confirm respective reserves etc. - is granted we should see investors piling in and additional investments being made. A substantial SP rise would be the logical consequence. However, knowing MATD now for (too) many years as an investor the market appears to be extremely nervous about any "not so positive" news (capital increase, delays etc.). In other words: MATD is not short term territory for short term investors.
I am convinced that PM will prove to be an excellent investment - but only the LTHs will ultimately be rewarded. Get ready to experience a roller coaster ride going forward.
GL to all!
We should see 7-8p on approval of reserve report while we wait for the licence which should follow after about a month. Then 12-15p on EL and maybe a little more on a JV announcement.
Im hoping for at least 18 pence in the next 3 months assuming reserve report is approved in December 2020.