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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Are MATD/MB going to break their silence?
Are they going to give us shareholders any re asurance?
Are they going to give us any clarification?
Needs to be seen!
Guys, have a lovely sunday.
Ojay, Where do you find these expressions I wonder. Very unique. Lol
Have a lovely weekend guys,
you can always find a way to make share holders start sh*tting bricks.
Interesting.
ATB
Don't forget advance talks and farm out nonsense for years.
PC controls that part of Mongolia . I don't think MB has a chance against big boys
Personally MB talks crap.
He's famous quote was ." When you find something come and see us" . Nothing came out of that
Brown paper bag of cash I bet and that's why I bet they can't get consent now because a much bigger paper bag of cash is required and PM and MB have said NO. The Eco woman has posted that a certain person was paid $400k by PC to facilitate them in some way.
I seem to recall when Gazelle, Heron, Red deer were being drilled - there was a last minute hold up but then they got consent to carry on so, how did PM get that last minute consent to drill Heron?
As long as we have got the likes of Ojays here praising the cheat man MB, what would you expect?
MB gets $350 or so+ all the board sucking investors hard earned money for years!
Silence of these bastds is just indicative bad news.
Petrovis don’t hold 32% they hold 21%…. If the gom continue to not support matd then there is a real risk of matd been kicked out of Mongolia imo in which case investors here will lose the lot, all the time Mb collects $350k a year for doing sfa!! Why are shareholders here not demanding he take his salary for doing nothing in shares instead of draining matd of $350k a year?
Bla, bla, bla.... but still 3 year waiting for LP and haven't got yet!
And absolute silence from guys who have many international experience etc etc.
None of the titles has helped yet!
All PM has is the EP*. If they don't get the LP or the GoM decide to backtrack on the EP there is nothing to stop someone else moving in.
* and possibly some equipment lying rusting in a field
Petrovis is a 32% shareholder of Petro Matad. Petrovis is still a significant shaeholder who will want to see a return on their investment plus Enkhmaa Davaanyam is CEO of Petrovis Group, Mongolia’s largest fuel supplier still sits on the board.
Enkhmaa Davaanyam is Non-Executive Non-Independent Chairperson of the Board of the Company, effective 1 August 2015. Ms. Davaanyam was previously a Non-Executive Director of Petro Matad and has agreed to take on the role of Chairperson. As a Non-Executive Director, Ms. Davaanyam was instrumental in concluding the recently announced farmout agreement with BG Group. Ms. Davaanyam is currently the CEO of Petrovis Group, Mongolia's largest fuel supplier. Petrovis is a 32% shareholder of Petro Matad. She has over 18 years of international experience in financing and risk management of mining, infrastructure and energy projects.
I don't really see Petravis pulling the plug on PetroMatad plus it would be a very poor advert for further internatinal investment. Time will tell.
//the question of whether PM will still be around to supply that oil stock is moot//
Its a concern on two counts imo.
One is if PM runs out of cash and cant raise further funds
The second is that exoloitation licences contain a revocation clause. What if another company is more acceptable to appease the locals to get their "buy in" Then what?
//Lets not forget the oil refinery will need oil stock.//
True, but the refinery won't be up & running before 2025 (IMV) and the question of whether PM will still be around to supply that oil stock is moot.
i recall few years ago Petrovis major shareholder influential lady sold large amount of Matad stock. Please correct me if i am wrong. i am wondering why these local b*stards (local government) are attacking petro matad so hard on land permit whilst Petrovis is too influential company in country. I hope i am wrong. I hope it is not Petrovis back tsabbing. i think MB is reliant on Petrovis. If Petrovis doing the nasty work MB can do nothing. Again, i hope i am wrong. Petrovis gyus have to prove it and make the MATD triumph again.
Pilsbury7 - Totally agree. Covid and the GoM not being fully aware Pof local issues has undeniably caused a lot of delays and issues here. Things are in motion though, I think it is positive news the more I read the above. Of course, nothing is for certain but there has always been that risk here. There is a lot of money to be made for the GoM, Matad, Mike Buck, us investors and many more here which is only needing a LP to be granted in order to become a reality. That is now being worked on for sure. Like you said, MB and Matad are not sat on their thumbs. The wheels are hopefully turning.
We deserve to hear some news soon. Let's hope it is positive.
GLA
Lets not forget the oil refinery will need oil stock.
Mongolia is the beneficiary of India’s single largest LoC for construction of USD 1.236 billion Oil Refinery Project in Dornogobi Province capable of producing 1.5 million MTA oil, roughly 3/4th of domestic the country’s consumption. It is expected to be completed by 2025 and Engineers India Limited are part of the project.
These land issues will need to be resolved although it certainly seems that over the past year or two the Mongolian Gov't has failed to grasp reality and drive through the required legislation. I can't imagine for one moment that Mike Buck is just sitting on the sidelines when he has everything to gain with the number of shares he holds. This also applies to Petrovis who are the majority shareholder and a key player in the Mongolian economy. The RNS is long overdue particulary when MB gave a number of clear commitements in his last video interview - none of these have materialised except his promise that if the land issues are not resolved Petro Matad will not move in to extract the oil. Difficult times in a difficult world!
Doz, thanks.
Hope we get some explanation from MATD/MB sooner than later.
Their silence is very unprofessional/unacceptable.
Hard to judge if this good or bad news from what I see really ....
Yes we want changes now and ASAP, but things are clearly in motion at least which is a positive.
They are openly working on it and despite local opposition, they have acknowledged that it is causing issues and needs to change.
If the guy doesn't show up then eventually they will just proceed without him as they are actually moving towards doing so. All depends how soon the reconvene of course.
The markets will see it how they will though, which could be no change, or it could be bad.
If this is the last hurdle to the LP then at least things are in motion.
Hamm, that's how I have read it and thought - if this revised bill is passed by the law maker/legislator does that mean Matad get the go ahead. As I have mentioned i'm still p*ssed off with the silence of Matad and Buck.
For some reason I have been able to view again tonight the eco activists FB page and she is really getting stuck into Petro China and from what I have read she is really having a go at the Dornod governor ref dodgy dealings with PC. Is he the reason why LP has been delayed ???
I am a bit puzzled, who was discussing the draft then?
Would MATD be clear to go ahead if the bill pass?
The draft of the law was discussed in parliament but legislators weren't present to pass it! What?
Mongolian MPs has learned a bad habit from MB! They must be in Singapore zooming too!
Share price will likely tank after this latest delay, and no doubt MB will now have to be honest about the land permit issue via rns, amazed this is still above 1p tbh given the circumstances this could drag on for years
I was wrong - it's not like Gormenghast, it's ten times worse!
Last part of the twitter post
Fourth. In the revised draft of the Law on Land Payments, not only the payment of land payment is collected in the budget, but also the relationships related to discounting, planning, reporting and monitoring are defined, and the payment base is expanded by fully registering the payer in the database, improving payment collection and avoiding payment. regulations on stopping and using electronic information systems.
Fifth. Regarding the initial draft law on land acquisition based on the imperative needs of the society, in line with the state's phased implementation of large-scale infrastructure and development projects and programs at the national and regional level in order to accelerate and support the social and economic development of the country, it is necessary for the society. There is a need to release the land of private property ownership and use in accordance with the realized interests. Therefore, the grounds for land acquisition have been clarified, land acquisition is only based on the grounds provided by law, and compensation has been provided to land owners and persons entitled to land, as well as regulations that have clarified the rights and obligations of government organizations and persons and legal entities involved in land acquisition.
During this time, disputes between the members of the parliament at the land, province and sumad level about the border menu and pastures are rampant, and the citizens are suffering among them. Therefore, while directing the law to eliminate the main problems, it was criticized that the problems of the management level were covered more.