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Have you even read what renewables matd is involved in ? nothing to do with ev cars or the like.
All EV car makers stepping back. All renewable are subsidized hugely! EV cars are charged by home electricity which comes from power stations which run by mostly fossil fuels.
Renewable energy is not as clean as they claim they are. Please check how rare earth mineral mining works. Not enough minerals to make the whole lot renewable.
Can you imagine streets full of ev charger cables? Do you think stations are capable to feed all chargers each at at least 7kw?
We don't have the right technology yet. If all cars become ev. I don't see any difference between RR and ford but the appearance.
It's called SunSteppe Hamm.
Two for the price of one.
Profit is profit and money is money.
I'll take it wherever it's from, why wouldn't you?
Also I must admit that I've always been sceptical of Renewables and 'Alternative' energy sources but would have to admit they now appear to constitute the new 'normal'. Can you imagine say VW launching a new petrol/diesel only range of cares, or any new petrol/diesel cars?
It's the future and the future's getting here faster than I thought.
Years and even decades left for the cheapest oil producers but I'm happier with feet in both camps.
Mr Hamm - just easier if you go back & listen to AGM presentation. Save everyone time including your own sir.
https://petromatadgroup.com/wp-content/uploads/2024/04/Petro-Matad-Limited-AGM-30.04.2024-09.00-BST.mp3
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Judging by the fact that the MB is in Mongolia, as well as the tone and content with which he spoke at the AGM, it seems that conscience and some kind of self-respect are awakening in him. If I'm not wrong and this is so, he probably began to understand that we came to this world not only to eat heartily and live happily in Singapore or some other exotic places. But also create material and moral benefits for the financial partners with the help of which the business was created.
WOS, we have invested for oil production not renewable!
If MATD wants focus on renewable then they can make a new company with renewable agenda.
At the moment MB should only focus on Heron production. Renewable shouldn't be a priority.
Not now.
LondonSuede - thanks for finding that .
I noticed it goes on as follows:-
"...5. Discussed 33 issues, including the draft law on support of information technology industry.
After the meeting, Minister of Finance B. Javkhlan gave information.
B. Javhlan, Minister of Finance: Today, a historic resolution was approved at the government meeting. In other words, since we have been moving our mining resources for the last 20 years, the moment when the people of Mongolia will take ownership of their resources is about to begin with the approval of this government's resolution. Law on National Wealth Fund was approved. In this regard, the law implementing the resolution was finally approved."
Very interesting final cooment on the Wealth fund - something to put to the activists!!
What if MB write a thorough letter to PM, MG and PG explaining in details advantage of having strong MATD rather than weakening it. He also set a deadline to get LP signed or international arbitration and asking for full compensation for the years MATD has lost revenues. It is just a thought.
Those who do not understand Renewables - Project pipeline looking at projects from Small to HUGE with easy accesses to major DEBT EQUITY (Borrowing) & Grants - all in potential GLOBAL BIGGEST Renewable area.
New Blocks - again "HUGE" and part of PROVEN PRODUCING basins
Block XX first of course and all setting up well with this if you understand details of developments - listen back at AGM presentation.
Reasons why I add (again) today. Make own choice!
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What I really don't understand is what MG will achieve to hold MATD oil production?
I don't agree with 1 or 2 years delay oil production save more oil for the country. We have abundant of pil and we might find much more if we have money for more drilling and exploration!
While strong MATD would help Mongolia in energy self sufficiency.
Hope MB considering giving a deadline to MG and if MG misses then we take further legal action.
Hamm's 'Out' at the moment.
He'll change his 'mind' when he get's back in.
Unfortunately I think he'll be out of pocket like Prof.
Still his choices, his reward.
So I believe its a matter of when not if.
We've progressed. It's been glacial but nonetheless we've progressed. We found oil, we got granted an exploitation licence, we got granted a special purpose certification by central govt cabinet, we got vote in favour for land permit from soum, weve got Land Agency, MRPAM and Finance Dept support and now it seems we've had a breakthrough in comms with activists. In addition we've not run out of cash (and have a fall back). Glacial yes but progression yes.
Like Hamm I am not overly keen on renewables
I get your points Thor and what you have said would give me some reassurance.
But on the other hand we have been told time and again all we need is a signature to get going for the drilling to begin.
To many myself included begs the question if that is the case why 2025 before we see anything coming out of the ground. The question of dipping into borrowing from petrovis and others will also arise
Probably resolution #2 relate to PM. Will see.
Source: https://mass.mn/n/94275#top
B. JAVHLAN: TODAY THE GOVERNMENT HAS APPROVED A DECISION THAT HAS NOT EXISTED IN THE HISTORY OF THE GOVERNMENT
The regular meeting of the government was held today.
During the meeting:
1. "On some measures to implement the National Wealth Fund Law" draft of the Government Resolution*
2. "Procedures for selection of projects for land acquisition and use" "Amendments and amendments to the annex to the resolution"
3. Regarding the results of the session on strengthening the tripartite relations of labor and social partnership and improving the implementation of collective agreements and negotiations
4. Draft of the Government's Resolution on "Approving Comprehensive Measures of the Three Pillar Policy for Teachers".
5. Discussed 33 issues, including the draft law on support of information technology industry.
After the meeting, Minister of Finance B. Javhlan gave information.
Move forward 6 months Roxy.
Would you be happy with incremental 'we're nearly there' updates and all ready for 2025 if it came with clear demonstrable evidence that their renewable joint venture was clearly carving a niche for themselves in what might be a huge market?
I'd rather the oil in 24 clearly but it's not a bad backstop in a company capitalised at only £30m.
Several shots on goal this/next year and if one or both go in we'll be winners of the league!
Is it? We’re down from ~4p to ~3p since last week. Yes, I’m glad things seem to have stabilised, but the frustration from MB was very clear. The Mongolians at all levels it seems, other than maybe MRPAM, seem keen to frustrate the process.
The market is trusting Mr buck you are quite right.
The problem now for mr buck is how he can build up on that trust. If we produce the black stuff this year all will be forgiven.
I think that's where we are at the moment
The 'Market' appears to be trusting Mr Buck just fine Prof.
Enjoy your trading.
Dare I ask how the short is going?
Professional ; instead of wasting time every single day repeating the mantra ' there will be a raise soon ' how about spending that time focusing on timing your trades effectively ?
Like just recently when you went on and on about shorting when it reached 4.5p. Well, it reached 4.4p and then spiked down to 2.5p on the open straight after the RNS, so you could have shorted at 4.4p and then bought back at 2.5p, giving you a quick 40% profit on your short. And then, if you had read the market, you could have gone long straight away near 2.5p and be 20% + so far in profit on that trade as well. A good short term trader would know that when lots of shorts close their positions at the same time there will be a bounce to the upside as they all buy back to close their positions. Even before the pretty positive AGM update by MB emerged yesterday, that bounce was happening off the low of 2.5p on the open straight after the RNS.
Some people talk the talk and others walk the walk....
Yes, the fact is we are still waiting for 'the last signature ' whether we get it this year or not? Who knows!
There is no indication of time frame to get LP. That is why MB is looking into further action.
...but still no signature from you know who and no clear indication of exactly how/when this will be resolved.
Sorry to be a party-pooper, but this is the most important fact, as we won't be pumping oil without it.
Funding through 2025( not till to 2025)+ petrovis soft loan which hasn't been touched.
No more expenses for new blocks ( MATD has been very clear to MG that they are not singing the new blocks until land use is secured) till Heron land use is fixed.
Engaging with the activists is a very encouraging point.
Market reaction sounds ok and we get to 4p and above.
Mr Aeschylus
My Life is TYPO sir 🙄 lol! Understand Apoltical sir and good to hear from Mr Buck.
Did just make last top up as part of Accumulation.
No posting. I am investor & do not need to like some. - just sit on investment.
Best wishes sir
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