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This is what i Think .The Mongolian Government dont want a western company running there oil .They either want a Russian or Chinese company to run it .And are just stalling till we have had enough and give up ????????
Yes Aeshylus.
The are calling miners like PC . Stepp gold and other to help out.
Its a perfect opportunity to show PM will support locals in times of hardship..
Even the prime minister is out with trucks loaded with hey to show his support.
Master I agree. I noticed the activists are rallying support for the herders crisis and a comment on a fb post said something along the lines of the miners should be helping. Whilst we've put our hands in our pockets before this will be the right thing to do
Investor33 I believe the actual phrase was "almost there". It's been two months since. That's a delay by any reasonably objective standard.
And the non standard element
of the remaining proceedings stuck out like a sort thumb (to me)
The current crises faced by the locals is an opportunity for PM to help out locals and get good press coverage.. Its a perfectly human thing to do and donate towards the suffering of those poor animals. They buried alive and its a sad to watch..
I am sure PM will win the hearts of the locals.
Even 50k will go far.
Hamm - 2 or 3 weeks ago weren't you urging people to buy at about 4p because in your words ' there is no risk ? '
@Aeschylus
Why do you insist that there is a delay ? The only reference to timescales in the last RNS was the word ' soon ' however if you read it again this comment specifically related to the transfer of the funds from the Ministry of Finance, and not to the other 3 stages which were stated in the RNS, which are ;
1) The signing off by the Provincial Governor
2) The issuance of the special permit to MMHI.
3) The signing of the Land Contract between Matad District and MATD.
So speculation that the Ministry of Finance have not yet transferred the funds is not based on any objective facts. It's very likely that MATD will not release the next RNS until all 4 of these stages are completed, and 2 months for all this to be done is probably not even realistic in terms of the sclerotic Mongolian bureaucracy...
'The money is awaiting transfer ONCE THE MINISTRY OF FINANCE GIVES APPROVAL for this to go ahead'
Why should it be difficult to just approve it? Unless there is no willing to do so!
How long excuses can go? How many permits have we had? It is just stupid that MB doesn't speak out and do sth different.
MG hasn't been supportive at all and all MB advance talking hasn't materialized yet.
However I believe he wants LP as much if not more as we want, but his strategy hasn't worked yet.
Down we go again till LP landed.
Words from the RNS that people may have brushed over.
UNDER THE LEGISLATION, the compensation payments SHOULD be made from the State budget
The money is awaiting transfer ONCE THE MINISTRY OF FINANCE GIVES APPROVAL for this to go ahead
"but why is it that everyone keeps on attacking wos..."
Because he attacks anyone who disagrees with him, and then proceeds to follow/stalk them on other boards!
Anyway, 3.00p bid...
Mike Buck has applauded the slow but legally correct route, until the suggestion of a non-standard compensation methodology. It worried me at the time when I read it.
I thought why would a politician take the risk of not taking the prescribed route to help us out?
Even a basic understanding of Mongolian politics tells us there is a huge popular nationalist resource movement (i.e to keep all resources in and owned by Mongolians). The activists are just the vocal end of that broadcasting any and every violation of rules.
I guess we'll see what the delay is when we get the next RNS.
The government has messed PM AROUND FOR 5 Years.
If they were supportive they would give a special permit like they have issued for their pipeline and railway.
This has to go to court just like Magnai Trade. It took them few months to get LP and compensation..
Government doesn't give a damn about activists unless it suits them.
If the short cut process wasn't the case then shouldn't be an RNS?
However any RNS not cover LP wouldn't be good really.
cyber.
you are clueless..this has nothing to with government. if it was , we would have the lp.
you might not know the full story. why is the local governor being an ****.
go and do your research.
Everyone has a right to post, if wos wants to post positives then let him, you post your negative thoughts but why is it that everyone keeps on attacking wos, why is there more posts everyday attacking wos I just don't get the mentality here some of you are right idiots
Get a new CEO and Mongolian government wil change their ways and have you that permit t lol
All this to make company position LEGALLY WATERTIGHT
I think therein might lie the issue.
My guess is the Finance Minister hasn't approved the non-standard method of compensation payment,
as this could attract activist outrage, who would then broadcast all over social media that "foreign companies are allowed to break the law" etc.
Is he going to risk that in an election year?
If so the payment will have to go through the extremely slow process of compensation via the budget.
PM needs a strong management who is not messed around.
Time for legal action as winter is coming to an end.
Why are locals being awkward is the real question.
RNS land access for Block XX. - DELAYED !!!
- RNS Heron Commencement. - DELAYED. !!!
- RNS Block XX Extension into Toson Uul (est 3 BILLION bbls). - DELAYED. !!!
- RNS DQE Joint Venture. - DELAYED !!!
- RNS First Production. - DELAYED. !!!
- RNS Heron Field Development Plan update. - DELAYED. !!!
- RNS New Blocks Details. - DELAYED !!!
WOS you're like the company employee telling everyone "go back to bed and stop being silly. There is nothing to worry about. The Titanic is unsinkable" 🙄
This was from 14 months ago (in the RNS in December 2022).
"It has been a frustrating year for Petro Matad and our shareholders given the lack of progress on the land access issue in Block XX. We are hopeful that we are now reaching a new phase in the process with central government recognising that it needs to bring this access issue to an end through direct action.
The fact is that after 5 years MATD still has No access to the land!
Any RNS with no LP would be a disaster.
As soon as they replace the CEO with someone a bit more respectful to the shareholders. GLA
When is the latest we can expect an RNS? Eg for the agm or other required business update notice?
Thanks
A little bit like gall stones then.
Painful, but hopefully giving relief afterwards