The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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I see the derampers are out in force today......
What if MATD doesn't get LP for Heron? Is MB starts exploration/drilling?
Please at least watch the presentation before commenting. Its linked to for convenience.
Most of the equipment has ALREADY been procured and in country with Heron & Velociraptor costs covered.
Mike Buck has expressly stated that they're in a very comfortable cash position when asked about the the possibility of any raise.
Velociraptor has all permits & equipment ready to go for operations.
The 6 Million is more than enough and especially for operational commencement in Q1 2023,.
Bizarre references to phantom placings & hopes for prices are deliberately ignoring what's actually been stated in the presentation and certainly not factoring in likely price appreciation from Newsflow before any operational activity.
Regards
They have $6m so this Will obviously not be enough to drill the wells and cover all admin costs for the full year, a placing around 2p would be my guess
P , thanks for posting, much appreciated. ATB
SP 2.30 paid
//We also have DQE in the frame//
Nothing is signed with DQE
Is the cash position "comfortable"? They have spent 4 million of the cash raise plus whatever they had in the bank then. If they can burn through that in a year of doing "not very much" how much more will they need for new drillings/pay-offs to the locals/involvement in renewables?
Master82, I'm glad you see that as the 'only downside' here.
To clarify which you can do yourself by listening to the presentation, most of the equipment has been procured & paid for.
The company are in a very comfortable cash position and in no need of any sort of raise.
We also have DQE in the frame for scaling up ood and effective offtake elements within that discussion.
The question of any raise us a mute point.
To reiterate as many seem incapable of watching the presentation for themselves, MATD are doing BOTH Velociraptor AND the Heron workover
ie PRODUCTION & EXPLORATION and all paid for!
I suspect you'll be buying first thing despite your concerns ;)
Regards.
Covid restrictions are being made in China, every little helps. GLA
My reading of it was that MB has gone back into exploration mode (his forte) with a 20% chance of success & production/marketing from Heron is on the back burner until the refinery opens in 2025 (or later). More cash needed.
The only downside here Is when is MB going to do the raise.
I think for his ambitious plan for 2023 6mill is not enough.
Love to buy more but dilution is putting me off.
Slightly amended version -
A lot of salty posters having been badly caught out by the excellent presentation yesterday.
Refer to the post yesterday at 20:23 and independently assess its validity against the troll posting, by watching the Presentation yourselves.
https://www.lse.co.uk/events/
The 'somebody in government' referred to by one troll is actually the new Minister of Mining, who'll be the one signing off the Special Designation!
As Mike Buck stated and being in constant comms with the relevant departments, he expects that "any day now".
MATD can now be expected to release multiple news releases over the coming weeks and most of us can anticipate a major price Re-rate into double figures, moving through Q1 2023, as, Special Designation Velociraptor, Heron, DQE & Renewable contract RNSs get released.
To confirm, Velociraptor has all permits & equipment covered and will be drilled in Q1 2023, AS WELL AS the Heron workover, with all the Newsflow preceding that.
The trolls desperately posting after last nights presentation will be the first in line to buy this morning I suspect ;)
Things for MATD holders have just got a whole lot better.
Last year the Autumn Parliamentary Session closed.on January 18th so hopefully we should have an answer on the land permit by then
Slight change of tactics by PM, if Heron LP not sorted in time then Velociraptor is the back up plan with everything in place kind of makes sense but then again if LP sorted will Velociraptor get put off until early 2024 and they plough money into getting the Heron development up and running then go back to block V when they can self fund and probably do a cash raise later next year. We shall see but nothing happening until spring now. GLA
I have just come back to have a read of the board after some time away...I cannot believe that the same old people are still ****ging MATD and its staff off ..What I don't understand is if you don't like MATD why go ON and ON and ON year after year about what is so bad...Just sell up and go pester someone else..I have owned this share for some time now and if I thought it had on future I would have sold up taken my loss and found something new.... So just move on and get a life!!!
I am afraid it is all talk as always!
Somebody in government said LP would be sorted in 1 to 3 months! WHAT? are you serious? Dont be stupid and buy all this rubbish. This kind of conversation can be sold in 3th world countries not here. None of our questions were answered says it all.
Have a lovely night,
Best,
Vikinglass, even you are tired, rejoice. Because it's a good chance for you to become smart.
FA in different name!
Manro "it may not be worth speaking negatively" ??!
Well you do this on an every day basis so I'm glad you gave it a break this time, perhaps find another source for ventilating your frustrations! I'm tired of you
So he had some verbal assurance from a government official that the land permit would be fixed in 1-3 months. That was back in October? Also said the drill bit will hit the ground for Velociraptor end Q1 early Q2? Come back in March and see whats what? Merry Christmas all Shareholders and hopefully a Happy New Year? (Fingers Crossed)
Let's see how markets take it tomorrow.
MB wants to do lots of things and changed his plan from bringing heron 1,2 and 3 online to self fund the company to chasing wildcat drills.
He is best at blowing money and not making money.
1) Well Funded - Over £6M in the bank and well covered for operations
2) Land Access - Special Designation should be "fixed within the next 1-3 months" as confirmed by the Minister of Mines in Oct, hence anytime within the next approx 6 weeks.
Some detail there - the previous delays have been due to the Govt looking to resolve the issue at local level and in line with new legislation introduced in 2017. They've now moved away from that position and are involving themselves directly, hence the Mining Minister's comments. Mike Buck, being in direct contact with relevant parties, expects it to be anytime now.
3) Timeframe for Heron - Chinese workers back from holidays in March/ April but many will be staying the Winter in Mongolia, so a good chance to get the Heron Workover commenced as soon as the Special Designation comes through, anticipated within the next 6 weeks.
Velociraptor - potentially "transformational" for the company AND country. $1.5-2M, high impact / low cost well. All permits & equipment in place, FULLY FUNDED and ready to drill in late Q1 2023 (or early Q2 latest).
4) Contracts with drilling contractors on very favourable terms to Petro Matad, as per the presentation.
5) Renewables - Advanced stage discussions for an advantageous JV deal, with talks expected to be concluded very shortly.
6) DQE deal well advanced and highly advantageous for major scaling up and realization of Petro Matad's potential, with massive shareholder value by extension.
Everyone should listen to the presentation themselves, if only to confirm the above points independently and circumvent the angst that many are going to now feel, having sat out and continued with their quite sillly commentary on the CEO living abroad, being corruppt or whatever inane fantasies they involve themselves with.
The points discussed in the presentation are the hard investment details that the investment should be assessed on and not the ramblings of 'BB pirates'.
Petro Matad now have a massive 2023 set up, with multiple Newsflow items and very major shareholder appreciation built into that.
Make your own choices based on the hard investment case.
Regards.
*Note: Mike Buck stated we were WELL FUNDED for Heron Workover AND Velociraptor, many of the expenses already having been covered with £6M STILL LEFT after that expenditure!
It may not be worth speaking negatively, but I did not find anything positive in this presentation either. Moreover, the questions asked by this Donald are not at all the ones that we sent and were waiting for the answer from MB. In general, nothing new or significant that could change my mood or attitude towards him as an ineffective CEO for the better.