Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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MATD has always had potential! But we need someone to materialize all the potential. I can tell you MB isn't upto it. He had 3 years! He just zooming and travelling spending nearly half the money he raised. He really needs to go. How months he negotiating! Sickening.
Enjoy the free fall guys sadly,
Sorry Manro - TLDR
Sorry Malcy not Malaysia. Auto correct.
Malaysia is talking rubbish. People don't realise that we have been in negotiations for more than 10 months.
Rig contract hasn't been signed . So how the hell can malcy say that credit goes put to management.
Thev achieved nothing since the money raise..
Another wasted year and MB is t blame for the failure to secure rig and local permit.
The land issue has been going on since 2019. Why couldn't he approach the main government body to solve it in 2019 and not just before the Drilling season..
Don , Exactly. ATB
Malcys blog:
Under the circumstances MATD is in remarkably good nick, the fact that the 2022 work programme is looking so positive and that Heron1 is going into production is a major credit to management.
These factors by themselves make the market cap of some £23m hardly flattering and with Heron under way and with more drilling I would expect that to be much higher by the end of the summer.
More patience I’m afraid…
GLA LTH
Thanks Hamm.
It's striking how many people here don't understand that any business requires the manager to apply all his strength and attention. And the more talented and sometimes even obsessed leaders are, the more successful the business itself. It so happened that I invested a significant capital in a very promising mining company Beowulf. And to delight of its investors company discovered in Sweden a huge deposit of high-quality iron ore. But 6 years since that this company's CEO has not been able to obtain an exploitation license. And what is interesting yet from the very first annual meeting I started advised him to take much active actions. But he reacted in such a way that he do not want conflict with the government. After that, another two years passed and it happened that there was a real opportunity to resolve this issue. Which about I immediately informed this CEO in the hope of his immediate respond. But, to my great surprise, he reacted such strangely that I sold my shares immediately and left the company . And when this year, that is, after already 7 years, the company was finally granted a license, it turned out that this CEO did not even know what to do with this license. And because he is completely unprepared to organise a mine the share price crushed from 28 pence to 4.25 pence today. But this CEO as well as our feel okay, why to be harry with mine or oil if even without it they can live in full prosperity for as long as they are tolerated by a lot of stupid investors. Therefore, the best option would be if such CEOs leave their posts. Provided that they are replaced by talented and loving their job professionals of course.
" Agreement was reached with the industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), to pursue export of Heron crude through PetroChina's nearby processing and export facilities.....
.......until Mongolia's new domestic oil refinery begins operations in the coming years"
Which coming years are those ?
"Meetings were subsequently held with PetroChina to commence commercial negotiations"......
So commercial negotiations not completed yet ?
"Pigs might fly"... well you should know Hamm
As for pencilling 1st August, I've read on here and in other places that constitutional matters (including legislative changes) traditionally get announced during the state Nadaam which happens to be between 11th - 13th July this year.
No news was going to be released before that date. I've just added on 3 weeks in case anything needs to get revised due to any PSA amendments and then I'm expecting an update on the advanced negotiations.
Can't say what will happen due to China COVID restrictions at this stage though. Zero Covid is Xi's ideological baby and he is running for a 3rd term which won't be decided until October at the Communist Party Congress.
I guess the derampers will no doubt still blame MB for the dates of the Nadaam and the Chinese Communist Party congress though.
Where is FA, mr Positive? Where is MB? What happened to all government support?
I told you guys there is no LP! Too much politics here. You can explore nobody cares, but when it comes to explotation it is forbidding land!
Now start talking about August!
Meanwhile enjoy the fall sadly.
Guys,
Manro is absolutely right as always.
Ibiza. I've pencilled in 1st August for an update on the legal/land access situation. Nice if we got an update before that but I'm not expecting it. I simply don't believe the exploitation licence and land use would have been granted if the Government weren't willing to resolve the local land access permit issue. It seems like the local soum is being "emotionally blackmailed" (i.e. accusations of them agreeing to the land being exploited and so on ) which is why it is reluctant to grant the licences and have their names and faces posted on social media and their reputation tarnished. For that reason I think they would actually be relieved to have permit granting decision to be taken from them.
All just imho
Curiouser do you think this land dispute will resolve itself in the near future or do you think this will run and run. Also does it affect our exploration of the Raptor segment. Why cannot we do that if not exploit. I do not think this got mentioned.
Not MB's fault sorry Manro whatever you say
Matad Limited (AIM:MATD, OTC:PRTDF) shares retreated after the Mongolian oil explorer released its results for 2021.
Petro Matad has been pushing for local and central government action on the conflicts in the land laws since they first affected the company's activities in 2019. Recent progress and the elevation of the issue to the highest level of government are positive but the matters have still not been resolved and until they are, the company will not mobilise without legally valid permits in place, it told shareholders.
https://www.proactiveinvestors.co.uk/companies/news/985877/petro-matad-slides-after-full-year-results-disappoint-985877.html
Unfortunately a lot of holders like Hamm who sold out or simply have no money are people with weak minds, they need every one to sell out like they have, roughy on 750k shares I’m losing about £10,000 but it’s only a paper loss, my impression of Hamm is I think he looks like Gollum all that hate has eaten him/it up
Well, didn’t I write to you yesterday about my 99% certainty that with this talker and swindler we will lose another year, and therefore our money too. Earlier he was talking everywhere about the huge support by the government, now he suddenly started talking about bureaucratic obstacles. But such obstacles are everywhere and they are often overcoming through the CEO's personal contacts and work with the bureaucracies. Apparently he thought that he himself could travel, and someone else instead of him would work with these bureaucrats. All in all, this is disgusting. However and no matter how insulting it is, but we all, in one way or another, deserve such situation. And especially those who not only lost the ability to critically regard this completely untalented and outright liar CEO but even praised him. Not to mention all the trolls who, like rats, are now hiding in their corners.
lambo222 "H1 isn’t coming this year unless they sort the land access issue and get a contractor… they havnt achieved this in the last 12 months so not sure why you think they will achieve it within the next 4 months before the winter weather closes in…"
.... because the legislation to alter the need for land access from local got IS GOING THROUGH PARLIAMENT RIGHT NOW!!
Also if you've been keeping up with the programme you'd know that the government is scrutinising the current PSA contracts and will be reporting imminentnly on whether any amendments are required/desired.
NONE of the above was going to be settled before this end of June mandatory RNS.
Pigs can fly!
H1 isn’t coming this year unless they sort the land access issue and get a contractor… they havnt achieved this in the last 12 months so not sure why you think they will achieve it within the next 4 months before the winter weather closes in…
Lovin this opportunity to load up . H1 at least is coming this year and you'll look back at these a gift prices when its 8-10p +
End of 2022. If we get H" etc then doublt that SP.
I think what has happened here is that our expectations have not been managed very well. We were hoping for a busy successful year and that 2022 would be the year that we hit paydirt. I guess paydirt may still happen but as a phut! rather than a bang. My concern here has always been the the Chinese have no need to co-operate with us and that if they don't ultimately we can be picked up for a pittance and the pay dirt goes to them. I sold half my shares at 4p and put them in Parkmead which has also fallen since then but by not so much so I am in "profit" on that deal but the key decisions are whether to and more importantly when to get back in here so as not to miss the boat. If indeed there is a boat. By no means an expert but this suggests that they should have an income stream soon which may avoid another fund raise but that the big bucks may not be till next year - if at all.
Does this leave around £3m?
pointing fingers is clearly one of your strengths - congrats!
MB is to blame. He had cash, time etc etc, but what he didn't have was vision!
Yes, we atill have time to fix it, but I doubt he could manage!
Difficult RNS to accept but equally all is not lost.
Not the progress any shareholder wishes for but there is time still available this year to make gains.