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Hey Hamm,bet you’re pleased you couldn’t sell those ten thousand shares a few days ago!By the way when you want to sell that many shares you should let the stock exchange know.We don’t want you to destabilise the market!
We look forward to you're 40 posts of rubbish today and everyday.
Strong start as expected. Lucky guys who have cash available to top up or get in before re rating.
The Bank of America has predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and a “successful” economic reopening by China, Reuters reports.
BofA has forecast that Brent prices--currently trading at $76.73--will average $100/bbl in 2023 thanks to Chinese oil demand recovery on a post-COVID reopening coupled with a drop in Russian supplies of about 1 million barrels per day (bpd). According to the investment bank, OPEC+ is likely to fully implement a 2 million bpd output cut in a bid to boost oil prices.
The forecast has come at a time when oil prices have been steadily declining due to fears that a weakening global economy would curb fuel demand. Last week, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. Further, people infected with Covid-19 but have only mild or no symptoms are now allowed to isolate at home instead of convalescing in centrally managed facilities.
“Our oil demand and price projections for 2023 rely heavily on robust China and India demand growth, so any Asia reopening delays could affect our expected price trajectory,” said the bank, adding that the path to a post-pandemic environment may not be easy “given the low levels of immunity in China.”
Last week, crude oil futures surrendered all gains for the year, posting their largest weekly losses in more than eight months, as restarts for key pipelines eased supply concerns coupled with ongoing worries about a global recession and weaker crude demand from China. Front-month Nymex crude for January delivery finished the week -11.2% lower to $71.02/bbl, extending its losing streak to six straight sessions, while February Brent crude closed -11% to $76.10/bbl, the biggest weekly percentage decline for both benchmarks since April.
The Charts looking very strong for MATD, as the price has confidently breached the minor resistance at 3.30p, with an intraday re-test and strong buying pressure exerted off that.
EMA9 crossing above the EMA20 and well spaced, with the next major resistance on the monthly timeframe at 9p.
That was the level reached upon the EL issuance and without funding in place, which may strongly point towards price trajectory, with full funding in place for both Heron & Velociraptor, a higher oil price and the various other very near term news pieces.
Thereafter, it's a clear run with the next major resistance point at 33p, which coincidentally reflects the current RENAV levels, albeit at the discounted $66bbl oil price (RENAV at the prevailing oil price would be significantly higher).
All looking very good for MATD from both a Fundamental & TA perspective, as the current Uptrend exerts itself.
Regards
Twitter
Again, may be beneficial for all to actually hear it from the horse's mouth and listen to Mike Buck's (the CEO) take on things.
As he states, he's actually spoken directly with the Mining Minister and the company are in regular comms with MRPAM and the Ministry.
MRPAM have cleared it on their end by recommending the Special Designation LP and the Minister has stated it will be issued within the timeframe previously posted on ie approx within the next 20 working days.
The 'Armchair Investor' is welcome to continue giving his 'armchair views' but given the number of stocks he pontificate about on his twitter feed, I doubt he has the breadth of research in many of them.
Each to their own.
Regards
//The share price is still at the placing level.//
When the SP was halved "at a stroke" and existing holders were hugely disappointed. Little has *actually* changed since then except several millions being spent on running expenses and some equipment. At least the "blue chip" investors will be feeling somewhat relieved.
While we wait on permission for local access to Heron it may be prudent to remind ourselves of the potential in block V.
According to matd’s presentation in 2019 there are 3 targets in block V, Velociraptor, Phoenix and Fox all contained within the Tugrug basin.
Velociraptor will be drilled in 2023 with a mean estimate of 201 million barrels of recoverable oil.
Phoenix has 2 sites, Phoenix main with 230 million barrels and Phoenix West with 130 million barrels.
Fox has 2 targets, Fox main with 200 million barrels and Shallow Fox with between 10-40 million barrels.
That’s a total of circa 800 million barrels of recoverable oil if, and it’s a big IF, the targets prove to be commercial.
Based on a recovery rate of 17% then the Tugrug basin has between 4 and 5 billion barrels of oil in place.
Just something else to consider whilst we wait.
Keep warm folks, it’s cold out!
hold a small position here. looking to add before year end.
doing dd here this w/e
How pathetic to discuss a placing at this point .
On obtaining land access we will be a producer earning daily income via the equipment we have already bought……..and we still have 6m in the bank.
My bigger concern is land access coming off, as so many let downs before…..but if we do, a rosy year it should be and my huge 91k gamble may actually come off.
Average of 3.3p…..so let’s hope all Mike says comes true for a change and no global factors have us over again.
I would have thought doing a placing before LP being granted would be rather more difficult and too cheap than if the license is in hand imo as that would be confirmation and all systems go. GLA
Yes Jodo,
I know for sure that the Mongolian government listens very sensitively to Chinese government and even companies. In the same way, they react to all trade and economic relations with Russia and even Kazakhstan. And there is no reason to think that they will not give a damn about the requests of the British Ambassador or the Head of the British-Mongolian Chamber of Commerce and Industry.
Ah heres lamboderampo with he placing threat! Like a broken record. Just need to look at his messages acroas the boards, and its a running theme
Massive dilution since 2017 as you well know, Mike said this time last year that the LP would be soon…. And nothing happened in 2022 as we know, $6m cash won’t last long imo the smart thing to do would be to do a placing now before the share price drifts back towards 2p on non news over winter
In 2017 shares price went from 2p to 35p during winter.
Please don't panic nothing happened yet! But it will soon.
The share price is still at the placing level. It was 9p before placing.
When we get to 9p and LP landed then it is time to get moving.
Please dont hibernating this winter. Not a good time.
Man
Do you really believe that anybody in Ulan Bator gives a **** about what British government organisations think?
They will do what's in their National and political interest, and rightly so. We have to synchronise ours with theirs.
PM usually goes up in winter. Every winter it goes up. Santa rally
Disappointing if true…
As Mongolia’s bitter winter sets in, unless there is a regulatory decision soon, Petro Matad’s share price could end up hibernating like everything else in the country until March, when operations restart again.
Encouraging. LP is the major catalyst which takes MATD to the next level.
// just starting to attract wider interest and given its exceptional upside v risk profile.//
Fair Analyst lives & breathes! (in spirit anyway)
This ISN'T the Re-rate but just the share price only just starting to attract wider interest and given its exceptional upside v risk profile.
As we're aware, the company have spoken durectly to the Minister of Mines and we can expect the Special Designation LP within the next approx 20 working days.
It could be released tomorrow or any time within that period.
That's when we'll see an IMMEDIATE & SIGNIFICANT Re-rate and well beyond current price levels.
As the header states and as we've seen with aggresive price moves in the past with MATD.
The LP and near term operational advancement should help support & build upon said re-rate.
Regards
fabs / Hamm - not having a go. Just keen to know if I've missed something ass it's quite the turnaround in mood towards MATD. I've increased my holding to make it something more worthwhile and am hopeful we see some of the SP targets people are giving.
Doc83? I mostly agree with you. There are no any changes in the way this “highly-calibrated geophysicist” and highly-talkative CEO runs the company. Moreover, we do not even know if he is at his workplace in Ulaan-Baatar or vacationing in the Maldives. And the euphoria that many experienced now was most likely due to their hope for a new round of frenzied and unjustified growth in share prices (and then fell even more rapidly). The only exception may be that we have drawn the attention of many British government organizations to the disgrace shown to the company and to us investors by local and central authorities in Mongolia. Let's hope that this factor has played its role and the issue of land access is now at the stage of an early and positive decision.
Can we not just enjoy the moment Hanm has been here for years I think we can cut him,/her dome slack as we were all a bit angry at the 1p share price looming.