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Sp with El and LP 4p without 7p+ how does that work.
Pure manipulation.
Maybe, BP. And remember that the last raise happened at a substantial discount to what the SP was at the time... 5.3p (?) with the raise done at 2.5p. When questioned at the AGM why this was, MB said that the brokers effectively looked at what average the SP had been the previous 12 months, not just some recent spike, when determining what the raise price should be.
There's every reason to suspect a raise done when the SP hits 7p would still mean shares offered at around 4p, i.e. roughly where we are now!
Hertstrader is right in (at least) 2 ways:
1. You need heaps of patience with this share; and
2. Time to take advantage of the dip
One thing is clear: Nobody knows when what will happen - but we (LTHs ) know that it will happen. Just like me Hertstrader is one of them.
If you critisize PM because they're not progressing fast enough you support the short term trading market - which is currently the one determining th SP.
Or you take the long view (the "big picture") and say: this share will come in good - may take some time but I am willing to wait.
GL all LTHs
At least some buys coming in now as the share is so cheap.Really there needs to be an RNS with some timeframes issued .
A meaningful fundraise at a low SP would be a massive dilution. I expect the raise will come at 7p+ (if the SP ever gets there!).
Testing 4 today? Or tomorrow? Lets see
And remember the longer it takes the more people will start taking about a fundraise again.
My cheeky 3.6 expires tomorrow, may try a lower instruction at this rate 😱
//Bought some more today and will keep buying dips but you do need heaps of patience with this stock//
Too soon - I'm waiting for 3.5p
We can only go by what MB has been saying consistently not just once that all things are in order to proceed in a very short space of time once the problem of the Land Permit / Special Permit has been cleared up. Let us just hope all that holds good as i am hoping this LP will be finalised next week. But we will see. As some one pointed out the LG maybe back at work but that does not mean the relevant bodies to deal with this are not still on holiday. As ever with this share just a bit more patience is required. But will admit it is pushing every ones patience.
As regards RNS's i think there are a raft of them to come once it has been established we can operate and function in Mongolia and hopefully all of that can be put to bed once and for all next week. I am hoping.
The question is would we have had to worry about all of this if Petro China had not made their drilling sites to resemble 3rd world refugee camps but then we also do not know what backhanders PC have issued out to members of LG to try and obfuscate and obscure our Permit.
Hi Manx, thankfully for everyone, I'm not a doctor!
Thanks, Doc for the post.
Glad all is well. Are you a Doc??
Fully appreciate all frustrations. I am in this quite deep for a few million shares. I am happy that if things ride normally and no one pulls stupidity out of the bag in Mongolia and now all the ducks are legally lined up with all parties now sorted and put into their boxes, then we should see this soon. What soon means could be weeks or a month, but in relation to the ongoing difficulties of the last decade or so, it shuld be very soon.
BP - don't be daft. WOS has told us they can go to prison now, so they wouldn't dare...
Re the question posed by Curious - we've been told plenty of times that the MG have changed all the processes/laws and a lot of this is new ground for them, hence the delays already. It's therefore surely not beyond the realms of possibility that even the "formalities" might take a little while.
As for the comments earlier that MB is hopefully busy sorting out DQE and all else, well we've been told in just about every RNS and presentation the past 2 years that most of that is already done. So I'm hopeful that once these formalities are doing, be it "next week, month or year", that we'll be good to go almost immediately.
Just surmising - but what if the local bigwigs (geed up by the eco-warriors) are still strongly anti-PM (not least because of the previous courtroom unpleasantness) and just take an inordinately long time finalising the deal and try to insert impossible to meet conditions in the "contracts". Will MB sue them again? That could take years - until 2026 seems likely.
BP
Sounds like your holding stock again
Bought some more today and will keep buying dips but you do need heaps of patience with this stock
//The Cabinet approved the certification and also instructed officials to conclude the follow up formalities required under the Land Law. //
Yes. Cabinet has approved certification But the important point imo is that it does not state that Cabinet has itself granted certification. This will be done once formalities are completed as I read it.
TO BE DONE IN ORDER TO RECEIVE SPECIAL PURPOSE CERTIFICATION
//The Company will now work with the central Land Agency and local authorities to complete the registration of the area and to sign the necessary contracts required by the regulations on the management of special purpose land. //
CONTRACT?
I have posed the question (and got shot down for posing the question!) what did posters think the contract element of the formalities might entail? I.e. just a simple pro forma? already drafted and agreed? or ..... will terms and conditions need to be inserted and agreed?
It is entirely up to each and everyone of us to take our own view on this. However if permitted by the board overlords hey! we could even have a chat about it.
Now there's a thought!! It is a share chat board after all!!!!
This is the script from the RNS ref Special License. The paperwork is being processed along with equipment and workforce mobilisation. Like most things in Mongolia everything takes longer than we would wish.
Having received feedback from all other ministries, the Ministry of Construction and Urban Development, which is responsible for land issues, submitted the documentation to Cabinet and the proposed certification was discussed at the Cabinet's meeting on 5 July 2023. The Cabinet approved the certification and also instructed officials to conclude the follow up formalities required under the Land Law. The Company will now work with the central Land Agency and local authorities to complete the registration of the area and to sign the necessary contracts required by the regulations on the management of special purpose land. In parallel, we are already in discussion with service providers to determine a timeframe in which crews and equipment can be available for the completion for production of the Heron 1 well.
The certification of Block XX as special purpose land gives the Company the legal right of access to the entire area for the purpose of hydrocarbon exploration and exploitation.
Are we there yet?
The irony is the ones that are getting frustrated with the board commentary are not those that said the process will take time (possibly July to September) as we expected this to be the case and have said so continuously.
The frustrated ones are the posters that bought into and got all excited with the ramp narrative that the SP will double/triple on LP RNS imminently.
The 'facts' are.. still no workable lp.
All the efforts of the last ramp are now gone and drifting downwards daily. Theres the FACTS. all the rest is guessed, hoped for and not turning up anytime soon.
Manx - I'm all good and healthy, mentally and physically.
My point is that many on here continue to say "this week or next week" when they clearly have no idea. And then when their own made up timeline fails to materialise, they say "what's another few weeks! Could be next week, next month, next year... but it's coming!"
The proof is in the pudding. Or the SP of 4.2p, which indicates to me we are not there yet.
Adult voice? On this bb???
Rapidly falling back to previous support levels despite very little volume. That's ideal for the mms to accumulate before their next spike on the release of an RNS to somewhere near the previous resistance levels so that the mms can then unload all that stock again. And maybe a nice spike down at about the time that an RNS comes out, so as to hoover up all the stops at rock bottom prices, thereby conveniently completing their accumulation phase just before a sudden move up...
Of course it's all down to fundamentals - that's why without an exploitation licence or the LP MATD was valued in early 2011 at about 45 times what it is valued at today....
Manxkippers- the adult voice in the room.
Calm down children and yes to your ".....are we nearly there yet Dad!!" Lol
I think you need help Doc. This is not healthy or normal.
We all know the facts. If you can not cope with the wait or the status, then sell. But don't start this panic absurd and irrational anxiety path. It goes no where and is not good for ones state of mind or life.
“ So what is another week or two then?”
Oh, that’s ok then. I didn’t realise it was confirmed it would only be another week or two.
WOS. Considering you claim to be from Singapore (or somewhere) and write in pigeon English, one might reasonably understand your lack of comprehension of the difference between "cabinet has approved grant of special purpose certification" and "cabinet has grantED special purpose certification" ...