George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video 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.
* now offering support for the wildfires…
My favourite bit of the Heron part of the RNS is this:
“At the local level, the Company continues to engage with stakeholders and has also offered support to the province which is suffering from wildfires on the steppe due to recent dry conditions.”
So basically, the previous bribes of building wells sorting out their waste failed, so they are not offering support for the wildfires. Presumably this support will be financial of some sort and not MB getting his erm, hose out. So more of shareholders (our) money being handed over in Jiffy bags. Am I really the only person here that is annoyed with this?!
Will this bribe - sorry, support - do us any favours.? Time will tell.
I am not worried at all about the update today. It is quite promising on consideration.
As follows
1: I can see in a relatively new and undeveloped land of opportunities, that if the MMHI were to issue the tenders for the prospecting blocs and then take control of the Special Licence Permits, railroading the thing through, then this may be seen as a conflict of interest. I would rather PM got the licence correctly from their revised ministry and without later challenge, so when the wells start pumping oil, it is cast iron and safe income.
2. A new block is on the way, and potentially more than just one. The visit to the IOM was key and having done this, the inference in the update is that we are very close to this being announced. The Mongolian government would have wanted to properly audit and check the safety of our company and the set up and understand that the IOM is not a threat or a tax dodging domaine. They will be happy now having had the red carpet rolled out and had access to the heighest powers in government.
3. The update did not mention the new subsiduary, Petro Matad Energy Ltd, registered last week on the IOM. I am interested to see exactly what that is about, and whether this is about renewables. But regardless, it is all extra and can only mean greater returns for the share holders.
4. Velociraptor, whilst not proven, is a strong hunch with a proven oil find there. Fingers crossed, but this is worth a punt.
The maths is quite stunning. Heron would be 12 or 15 wells, which hopefully would pump about 700 barrels on average per day per well. This is for a 60 million barrel extraction potential. That is $500,000 + per day once all up and running with a barrel price of over $70 per barrel and a cost of $10 per barrel deducted. An Annual earning of $180 million plus for 20 years.
Then IF Velociraptor strikes black gold, that is hoped to be the same and potentially three fold.
Plus all of the other sides. This should be looking at an annual income of $500 million + ultimately. That is a $5 billion company - or £4 per share.
We have all invested in a wild west prospecting opportunity, that MB is having to work with and around to bring something large to the table and he is doing it really well. It is close. We will see how big the turkey is in the next few months.
For me, this is a strong and exciting hold as an investor. The traders will see this differently. But this is a strong HOLD and a gentle BUY stock for me.
So firstly , the yet new obstacle in the way, I said at the start of the year and yesterday on this board that I firmly believe the MG is trying to push issuing of permit past this years drill season, in my own personal opinion I think Sept sometime, oil extraction April 2024 hopefully . Overall I think it will come.
On a positive note the drill will begin BY MID June, so 2-3 weeks, so we may still see a rise up to this, be very interesting to see where we sit share price wise at the end of the week……
I just hope MB does not go ahead with costly renewables until we have an income stream as there’s no funds in the bank for that and we know what that means……
Of the special designation area and to grant LP in an accelerated manner, it is suddenly turned out that a new procedure is required, then this means only one thing - the MG takes the management of the company and its investors for complete idiots. For, even the most slightly thinking person is quite clear that this is a new primitive form of delay and extortion of bribes by officials in the highest level of MG.
And if the company's management, following the lead of these bribe-takers, decides to drill Raptor without having LP for an already discovered Heron, than such management is an accomplice of this crime. So draw conclusions for whom they take all investors. Especially those who trust not only such a swindler as MB but wrote rosy comments here, not to mention the support of the bots sent to the board. And the truth is the most of people here have got what they deserve!
Its not fake hype. The market knows the potential.
*delay not dealt *
This all stinks to high heaven I am convinced that all this dealt tactics is down to Petrochina and a corrupt MOG .
Yet another negative RNS can't remember there ever being a positive one .
Doc: You know exactly what the question is - and which you choose to evade (@13.39 today). Your behaviour on this BB is a shame. I can only say that I disrespect you.
Good luck with your life!
Doc I'm still telling you LP is guaranteed. Slight delay just like last month and SP went crazy after April 3rd update.
Stick to your guns like me not blow with the wind.
I've been here 5 years and it has gone down to 1.70p and i still didn't panic because the main event is when PM pumps oil out.
Go and see satellite view of block 19 and 21 and see how many wells on PC side.
Block 20 has only 1 well with 15 to be drilled . So plenty of income.
I told you 10p is my target and ill be happy
Well Folks.!!
Now that the dust has settled we are still at 5 and that signals more buys tommorrow. If there are still some not sure there is a good chance to grab this and come onboard . It has shown a lot of resistance to go further down and the medium term prospects are still the same. Nothing has changed apart from a slight delay in getting the certification.
Its really still cheap.
Ojay, this question?
“Considering the fact that you are dealing (mostly) with LTHs why do you come forward with this kind of s**t?”
Firstly, I’d argue many of the posts on here are not from long term holders, WOS being the obvious example.
Secondly, I specifically addressed such “rampers” who have targeted those who have an alternative view that isn’t 100% a positive one.
Thirdly, I didn’t realise all posts had to be for, or taken into account, LTHs only!
My point remains - there have been some posters on here, specifically WOS, iamrich, Hamm (although I can’t take that flip flopper seriously) and sadly in recent times Master82 who have been extremely aggressive to those who dare to question Matad or aren’t “100%, guaranteed, any day now…”.
Have I missed anything?
The question directed at Doc remains unanswered.....
False information and rumours included Zellman as shown today
Hmm dunno ,,, the ministry does seem to be the 'go to' for a number of special land licences e.g. one about defence. I've attached the link below for people to make up their own minds
https://www.facebook.com/Barilgiinyam
Surely Mongolian ambassador can read English. No need to translate it in English!
My problem is that i can see this department burying this as it is a subject the would know little about. We constructing or modernising anything we are just drilling for a bit of oil. This rather out of their remit imo. With the ministry for mining i could understand it possibly but this department makes no sense might just as well give it to the Ministry for Silly Walks for all those of a certain age.
So that was short lived optimism absolutely not mention of being handed this batton of oil exploitation. So why the urgency of the meeting i wonder.
Google translate version ...
Opinions were gathered on the draft of the government's resolution on the acquisition of the land "along the direction of the oil pipeline" for special use by the state and submitted to the State Government.
Just had a thought seeing that the Mongolian Ambassador to UK knows who we are that instead of bombarding the UK Ambassador to Mongolia all the time. Maybe someone should email or write to the Mongolian Ambassador to UK maybe someone on here who can speak or write the language explaining that all this shunting of this LP from one ministry to another could seriously damage any possibility that Mongolia has of opening itself up to foreign business. If anyone should understand how important for Mongolia to look as straight forward to doing business in that country it should be him. And he knows us according to MB this morning.
Nothing else is working atm so this might be worth a try.
In full
EMERGENCY OF THE MINISTER
The next urgent meeting of the Minister of Construction and Urban Development was held on /2023.05.22/-. At the beginning of the emergency, the ministry's land departments, affiliated organizations, and project units presented the reports of the work they have done in the past 14 days. Some of the key jobs from the past:
"General development plan for capital Ulaanbaatar city development until 2040" document will be discussed at the Government conference and to submit it to the State Parliament has been intensified.
The working group of the "Reservation of Parts" project met, finalized the 42.6 km long route for the 6 lane motorway and public transport along the Selbe river, conducted aerial photography, field measurement, survey, and received map pictures on M 1:500 scale. Also, hydrometric measurements of 13 crossways of Selbe river are done in 24 hours, samples of river basin and coast speed were taken at 93 locations along the river, and engineers are performing geological research work.
The newly assembled elevator and escalator technical safety certification, 16 official requirements with 128 provisions and 7 evaluations delivered to citizens and companies.
Researching the cleaning technology of countries leading in cleaning facilities and introducing technologies suitable for Mongolia.
Opening the financial proposal for the project "Building Rainbow 1, 2 apartment neighborhoods" and submitted to the Export-Import Bank of Korea to review the evaluation report.
"Messages along the trend of oil transmission" was agreed upon by the Government's resolution project to acquire the land for special needs and submitted to the Ministry of Internal Affairs.
Drafting and preparing the concept of the Parliamentary Resolution on the acquisition of certain lands for state special needs with the purpose of defence security.
The planned works for the project units are being carried out according to the schedule, the unit managers reported.
The jobs presented at the urgent meeting, and the events to be focused on, Minister Ts. Davaasuren gave the following tasks. Including:
✅ Finalizing the "General plan to develop Ulaanbaatar city until 2040", warning that the process of obtaining consulting services is slow and speeding up the processing of the document;
✅ Intensifying work on transferring mortgage loan financing to the government;
✅ Accelerate the cooperation agreement with the European Bank for Reconstruction on the project of renewable energy for the partial engineering infrastructure of Ger district;
✅ Detailed presentation of construction law and housing law projects;
✅ They were ordered to implement the audit reports and recommendations made on the activities of the Standards Fund.
Ojay: “C'mon Doc: What type of humility are YOU going to show vis-a-vis the LTH once the LP is issued and the SP reaches double digits? I for one will not engage in those primitive "I knew it" and "take this" type of posts once the SP goes in the other (double digit) direction.
Considering the fact that you are dealing (mostly) with LTHs why do you come forward with this kind of s**t?”
Ojay, are you really that simple? There is a massive difference here… I’m not someone who has been spouting off that the LP was coming “any day now” for the last 6 months. Honestly, you are rising fast up the nonsense poster board.
Thanks nines
also hamm werent you talking some *******s about a blue day. score that one up as another haam dud
Hamm, yes i am not important no doubt.
But still being reported by a certain number one ramper. Now that i am certain of 100%