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at least you're not suggesting to write a letter to Ukhnaagiin Khürelsükh (Prime Minister of Mongolia).
I understand the investors' concerns and frustrations; however, contacting MATAD and/or MB would need to have an impact. Does anyone believe a (physical) letter would be the most effective means for an investor complaint - and if so why?
I am willing to participate in a respective initiative as long as it has a real chance of an impact. Up until now investors are getting the usual standard response "we will notify the market at the right time" (Dozzawba's post of today).
Also: It would be good to state the total holding of the "complaining" investors (in %) - that may have some weight.
ATB and GL
Let's make no mistake: As long as PM observes the regulatory requirements for informing the market it would be an act of goodwill to inform its investors (and the market) beyond what they've done until now.
Well clearly you have not learned very much.And you suffer from an immature proclivity to jump to very unrealistic and fantastic conclusions.Any comments I make are based on the information contained via an RNS which if contained falsehoods of material consequence could result in criminal prosecution,a point you clearly fail to appreciate.
As you know I completely agree with you, and as already wrote, we should not sit humbly and without counter-actions see how this BOD constantly misleads us by drawing rosy pictures. When the reality is sharply different and causes huge losses of our investments. But please forget about such a not only useless, but even harmful organizations like the SFO or FCA. We need to act in much more clever and consolidated way with the usage all of our shareholdres right in full power. For example we can demand to call an extraordinary meeting and explanation from the management why we are constantly mislead. Or why when the company is in a complete ass, they still rewarding themselves by share awards while we suffer colossal losses. And in this regard, demand at least partial compensation for our losses. Because in these conditions not this very inept leadership should be rewarded, but those LTH who have shown such patience and loyalty to the company. Only in this way we can achieve something, everything else will be just emotions and nothing else than concussion of air.
I can only assume from the lack of responses that nobody on the board has an example in how long an exploitation takes to be granted in usual circumstances?
What evidence do you have of fraud? Serious charges.Matad should sue the ass off you but I assume they have more serious business than deal with such an ill-informed nobody.
Regarding posts stating that the Government of Mongolia will simply tear up contracts at whim. If it gains a reputation for unilaterally tearing up contracts at whim no reputable company, large or small, will do business with them, so not a likely scenario.
Morning PD - imho and I am presuming investors are feeling the same as I am, totally frustrated by the total lack of communication from PM. We all know that these are unprecedented times, with Covid, elections, new international rules being taken on board by MRPAM and other government departments, but PM will also know this and must realise how this affects their shareholders. I have emailed them on numerous occasions just to get standard answer emails back - no substance or help which in my mind smacks of arrogance. Further from the last RNS I asked them just to notify/confirm to investors if Auditors had been assigned. This to keep investors in the loop and confident but no a standard email response we will notify the market at the right time. In these unprecedented/unknown times when I believe PM should be engaging with their shareholders even more we have had 3 RNS's since October which imho is a very poor way to treat shareholders especially with us shareholders knowing they are running out of funds. I'm a LTH so don't think this is a deramp - I am in deep and in the red so all I want is respect to be shown to its shareholders and to keep us informed of what is going on
So schools are operating - Just waiting for Mineral & Resources to get back to work ?
As is the norm with BB, speculation abounds and we get the predictable ‘scenarios’ played out....instead of looking at the obvious.
The Govt of Mongolia has new processes in place for said issuance and that against a backdrop of the global Covid situation.
Talk of the Govt wanting to ‘keep the oil’ and sabotaging the EL issuance is spurious - we are actually in the final stage of the EL being granted, as the OFFICIAL RNS has stated.
If holders want to send letters to the PM of Mongolia, they’re welcome to do so - most of us will be aware of the futility of that course but acknowledge any individuals right to proceed down that course.
The share price is range bound atm and will likely continue to do so, until the Exploitation Licence is RNSd - thats when we should get the massive re-rate we’re all holding for and the further progression from there.
Very comfortable with my holding here.
Have a good day all
Gents there is nothing silly or childish about securities fraud.
Enough is enough
Having a conversation with you two is like speaking to Stevie Wonder and Ray Charles. You are simply blind to the facts.
I wish you two well but I am up to my back teeth with Matad’s inability to be honest.
I know it is hard for you but I have been nothing but consistant in my posts And cite the RNS's that have been misleading or deceitful.Such misinformation could be criminal and would subject Matad to British law, not a pleasant prospect.You cowardly malign honest people on not even hearsay evidence but simply because they are not in a position to tell you what you want to hear.
It would be silly and childish were it not so malicious.
Good for you Spainish! Looking forward to "the first Matad shareholder making a disclosure....".
Let's see if PM meets your standards of a "truthful RNS" before March 1.
And hence Persistent you have said the first thing in months that makes sense.
Hardly a rational course of action.
I am not so touchy about what is rational or not rational because at times emerging markets are hardly rational or make sense.
What however does make my blood boil is weak governance, poor compliance and zero transparency.
Matad have until the 1st March to structure a truthful RNS or I will be the first Matad shareholder making a disclosure to both the SFO and the FCA. This may not be Unaoil, or the same scale but I will not tolerate being misled or a board committing wrong doing.
All in my humble opinion of course.
Certainly bank holidays in Magnolia in the last year or so.
First of all there is no agreement but while it is taking an inordinate amount of time on what grounds would the appropriate authorities wish to scupper one? Why would they act in such a
manner? Mongolia has committed to abide by the norms of international law with respect to private property and if they wish to assume beneficial ownership of Matad they must provide
appropriate compensation to all private share owners.Otherwise the govt would be considered an international pariah and unfit for international investment.Lots of history on that score.Don't know what you are talking re: Dubai et al but any agreements would be subject to same legal standards of international law. Simply put human beings act and that act to improve their circumstances.
How would nationalization/confiscation/theft of Matad's property be of benefit to Mongolia. It would be telling the world that the Mongolian govt cannot be trusted and an unfit location for international investment. Hardly a rational course of action.
I ve been to Spain twice, it was lovely as long as you keep away from the Brits and there stupid all day breakfast:::::::FACT
I know that GK.
I just had not had a reply from Persistent so assumed it was a bank holiday where he was, as he has shut up like one !!!
Tsaagaan Sar, the Lunar New Year ,was 12-14 February this year, but not much celebrated due to Covid
Is it a bank holiday ??
My response being are you familiar with the UDP (Dubai Agreement) or the IA (Investment Agreement) and GoMs current position on either abolishing or renegotiating these ??
These are worth multi billion dollars and involve some of the biggest investors and over a dozen global banks.
What makes you think a small insignificant agreement with Matad cannot be either rescinded or completely renegotiated ??
I don’t think another Sovereign government will wish to become involved. Therefore I fail to understand your argument as there is already a clear precedent in place Mongolia will review agreements if they do wish too.
High street trader, how refreshing to hear, what most of us are thinking..
We all have different thoughts, but one common goal.
For MATD to succeed, otherwise why would we be investing here?
Best wishes to all
Because like Matad but on a larger scale it has a substantial investment in Mongolia which could
be subjected to the same treatment by another or same govt. If your going to head down the nationalization/confiscation of private foreign property why stop with Matad and private foreign
investor would wish to expose itself to the risk of such theft/confiscation of its investment. DYOR
Hst, nice post. ATB
Highstreettrader: That may have been just your 2nd post on this board - but it was a bullseye.
My speculation is completely in line with yours.
A lot of you guys are thinking scared. That's understandable given the delays and not much to talk about in the interim. However, I think some are missing the fact none of these scenarios are likely to happen. The fact MATD is small and doesn't have a lot of money is not new. They've done the work and they've found the oil. I would be looking more at scenarios where favorable Mongolian bank loan terms were involved or a JV deal being already in place when the EL gets resolved. Not the scared way of thinking that's dominating the board at the moment. Mike Buck has over 8 million shares. Do you really think he's just taking a ho hum attitude towards all of this? I'm willing to bet (and have with a sizable position) that there's more going on behind the scenes in a positive manner than some think. Just my speculation. Good luck to all LTH.