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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Perhaps PM weren't present at the Mining Expo because they aren't in a position to network without the licence and so wanted to avoid unnecessary costs of attending the exhibition and wining and dining?
"I am still confident we will have Heron on line this year."
Your confidence says it all!
Moderate wages? How do you know? Read RNS again. It is nearly £1m!
How do you explain that MATD was not present at the very important events recently?
3 years waiting for LP! Still not enough time?
Didn't MB said that LP is just an official process?
The whole point is that MATD doesn't give atoss about PSHs as you said yourself!
Hi all,
I think everyone just needs to chill out. NOTHING has changed.
The board are not going to take a brief case of cash down to the tent and buy a one off license. Perhaps how this was done previously, perhaps not. The sensible and measured approach is to fix the issue at the government level so that future exploitation isn't held up unreasonably. I have seen nothing nor heard anything from the company contrary to this.
MB made it abundantly clear that they wouldn't go in without land issues resolved, I don't know why there is this select groups of people than slander Mike and the board. It's pretty poor form and obviously designed to manipulate people into selling.
The frustrations and the process has been clearly defined and the outcome will be positive, but may take a longer time than you want. That's investing.
Comments about Mike and the board saying they are crooks and all the other comments are just from people that don't understand the process or are not happy with the timeline.
The 4 of you can get together and write a letter, I'm sure it will be great reading and you will all feel better about yourselves. Do you really honestly think the board will care, highly unlikey.
MB has clearly outlined the process and the reasons behind the situation and at face value this should be enough for all investors to have comfort in the very bright future of MATD
To clear up a few other misconceptions. Petro china can't get to our oil so it's not going anywhere and there is still a billion dollar discovery sitting there , ready for us to access when the permits are issued. This is from one structure and not our company makers.
Secondly the board and the small team of staff are on very modest incomes from the company and have been extremely frugal with our money.
This is a patience game, if you don't have it you can sell your shares and move on. Bagging out the company achieves nothing when generally speaking most of the rubbish on hear has been debunked about 10 times in the last 12 months.
The access will be sorted. In reality, as weeks move by, the exploitation may not happen before the winter period this year. Its really not the end of the world, other than being frustrating in terms of timeline.
There is still 2 months in which the access could he sorted and the equipment and people required are mostly in country or at the border as at 3 weeks ago.
Everything will be worth the wait and it's exciting times to be a shareholder.
Looking forward to the next RNS or update to see what progress has been made.
Manro, what I meant was to write an open letter on this board Addressing MATD bods. Every body who is happy with the draft copy and past it here. If we don't get clarification from Matd then the same draft can be emailed individually to MATD.
Further step/action would be after that.
I wonder what happened to the so called blue chip guys? Do they really exist?
Guys we still have a couple of weeks time for a 2 week workover, however it is difficult to expect anything happening this year and MATD silence is really disappointing say the least! My concern is that if LP will be granted at all!
Hamm, you're absolutely right to be in doubt if MATD has any office in Mongolia? I also think that most likely this crooks and his team do not have that office in U/B, which they indicate on the company's website. And if we already doubt even their office, then how can we trust their response to our letter? I do not have anymore even a drop of trust to these swindlers.
Manro, what if someone draft/ write a letter on this board addressing MATD BoDs demanding proper explanation and if we get no adequate response then we may think of further action. I cant understand why MB was not present at that seminar!
guys, could you please leave your suggestion. we are not trying to blame anybody. what we/I want is to see if MATD/MB has a proper plan to get LP.
best,
Manro, what if someone draft/ write a letter on this board addressing MATD BoDs demanding proper explanation and if we get no adequate response then we may think of further action. I cant understand why MB was not present at that seminar!
guys, could you please leave your suggestion. we are not trying to blame anybody. what we/I want is to see if MATD/MB has a proper plan to get LP.
best,
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