Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Hamm, as I already wrote, the only way to punish this swindler is to send a collective letter to SFO. We need to get the maximum possible signatures and inform SFO how he has been constantly lying, misleading and impudently stealing our money from the very first day of his appointment.
Bowely, I thought you said that you had no time and just could get in and out of conference when it was possible!
Now I understand that you had time and you managed to talk to other mining/ Staff CEOs and had dinner with some of them. Did you ask those government ministers or whoever running the show about MATD? and why they are NOT present considering not many oil companies over there? Did you raise your concern regarding MATD LP to any officials? Do you think MATD is really cheating private share holders? Did you by any chance figure it out who the so called blue chip investors are? why do you think the big boys have been silent?
I wonder if MATD has any office in Mongolia?
Thanks again,
P.S. please guys put all suggestions. I would like to know what we can do from now on.
Best,
thanks again,
Evening all.
Reading all the varied posts, both positively and negatively for Petro Matad - it appears more and more obvious (sadly), that Mike Buck and his fellow management team are taking the proverbial pi** out of all shareholders.
Previous RNS comms led us to believe all was in order and just waiting to get the drilling rig, etc into place.
Of course it’s now obvious that this was blatant lies. They certainly cannot continue to blame Covid any longer, since other drilling companies are able to get appropriate licences and rigs in place already.
Before any bright spark says, why not just sell my investment.
Unfortunately I am far too financially invested to simply walk away, otherwise if I had known the fuller details of this fiasco - I would have walked away a long time ago.
MB and his team need to look at their governance of how they run their company - and then hang their heads in shame.
Rant over.
This time I completely agree with you, curiouserandcuriouse.
Quite strange respond to Hamm's very reasonable question from the one who supposed to be PM shareholder.
Curious.
Read a bit more about Mongolia. You may understand a bit more.
May help you.
Bless.
//I had dinner with other CEOs of other major mining groups when in UB and would of happily made time for Matad.//
A couple of things here...
Whilst you were dining with all these hot shot CEOs, and since you would have graciously made time for Matad, did you actually contact Mike Buck (or indeed anyone from Petro Matad to have dinner with)? Since you are allegedly invested in the company, I would have thought that would have been your top priority!
Also, it might sound a bit picky, but for a top government official your grammar isn't very good. It's "would have" or "would've" (not "would of"). I wouldn't pick someone up on grammar normally, but the higher the bureaucrat the more I'd expect their English grammar to be good tbh
Hamm.
With the greatest of respect I work for the government of Mongolia. I focus on the role I provide to them.
I was at the mining event when in UB as I stayed at the Shangri la hotel. If the CEO was in UB I would of seen him.
I did not need to investigate as you state as there was nothing to investigate. Matad are invisible in UB and Mongolia. The question you should be asking is why, and not to me but to Matad.
I had dinner with other CEOs of other major mining groups when in UB and would of happily made time for Matad.
Matads continued silence is now becoming deafening.
Is this right?
6 weeks left in drilling season (mid Nov)
In that time
2 weeks needed for workover
Which leaves 4 weeks for either special licence to be awarded or law changed and implemented and DQE contract to be completed and date for work agreed.
Bowley with all respect you were in Mongolia but didn't manage/ bothered to put sometime to see MATD staff!
How come you have time to make management group I wonder?
you know the language, you are apparently local, why didn't you investigate a bit more while you were there?
I guess MATD might need some kind of online campaign group.
Jim.
Greasing palms is not necessary nor is it ethical. The company has ESG standards and policies that ensure this does not happen.
Social engagement would be how I would manage this issue and I would be in country full time until it was actively sorted with all stakeholders engaged and brought into the solution.
If the current management group cannot do this I would be very happy to suggest a new management group I would be confident could lead and manage this.
The longer this drags on then I believe for the foreseeable then a reduction in wages should be the order of the day until LP in hand, by the time LP is granted if at all PC will have taken most of the oil out, and if it is right then the gov need to get it sorted, doesn't sound like any work of any kind getting done this year and should it not be made public as we were told we should've been producing by now. Maybe tomorrow but then you never can tell, disappointing either way. GLA
If there is no chance to get LP for the time being. All MATD staff including our brilliant CEO needs to be dismissed till LP sorted.
Not looking good. Looks like the main government needs to get involved and sort this out quickly.
"would like to express my gratitude once again to the representatives of the Matad Sum Assembly Council and the representatives of the Eastern Province Assembly Council who saved the Matad Sum herdsmen's pastures from the Canadians who were forcibly vacating the land of Matad Sum due to violations of the law in 2019, and who were sitting on the 20th oil field drooling ????????
I am happy that the provision of the Constitution that natural resources should be owned only by the people has come true in my locality. What's wrong with being upset all the time ???
I believe that the next experience will be in the 17th, 18th and 28th oil fields in Sumad
If the local authorities are like our councillor's they should have greased there palms 3 years ago and not taken the governor to court that's why no cooperation from them. But we wait :+((
the only drilling this year will be if MB needs to see his dentist!
Hamm, I have emailed the company and given them the link of the FB activist and asked them to explain the way forward as investors need to know and need answers
" As soon as licence was granted and the money paid to GOM the area should of been named a "special designated" area, but surely in the PM heirachy someone should of known"
Doz, well said.
Thanks,
Hamm you have a point there - how much have Matad paid the government for Block XX exploration - lots of questions need to be asked about this. As soon as licence was granted and the money paid to GOM the area should of been named a "special designated" area, but surely in the PM heirachy someone should of known
I guess MB really didn't take LA seriously! it is understandable but MATD BoDs should have known the situation. they are local themselves, so they don't have any excuse! however ,I don't see any justification for MB not to be at the site for so long no wonder the locals don't take him seriously.
It's a 2 week workover and hopefully equipment needed is on route, drilling of anymore wells may not be until spring next year now but we wait. GLA
if the local authorities have been always against the permit/drilling then why on the earth MB/MATD didn't stop exploration? how come the central government have the authority to give permission for exploration but cant do that for exploitation? why cant overrule the local authority? it doesn't make sense!
Jim.
You have to have drilling equipment to drill ??
The social responsibility contract 2021 2022 has been fulfilled with the Petro China in Matad soum Khalkhol, so maybe we won't have too long to wait for us to get a decision on LP, still roughly 8 weeks till this year's drilling season ends. GLA
This is where I think MB missed a huge trick should have had boots on the ground wooing wining dining and even tipping the politicians instead of doing remote correspondence any way too late to correct that now seems like having to take the long winded route next year if we are lucky imo where the basement light this needs to move from bottom drawer to basement now
GLA
No I don't know the distance, but Choibalsan is the capital city of Dornod province.
The issue isn't about population use though; it seems to be about herders' land rights (how much land do they need?!?!)
Think of native american indian or Australian nomadic lifestyle, blown into a big 'victim script' of the noble heroic herdsman versus the big bad corporations and that seems to be the picture in their heads (just imo!) The RNS makes it really clear that the local politicians will not agree to support us, so we are really down to a special licence and/or change in law. So like I said, I think we will soon see whether or not the government are truly supportive or not . Will they support us... or will they pander to populism?