Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Basically MB trying to cut corners by not still learning from past mistakes.
Why not just get the right paperwork nd meet right people.
Let me guess he is never been in Mongolia for the past few years. He sends minions that can't do job correctly.
Below from FB
There is only one page operation. At the same time as the curfew, Petromatad visited herder families in Erdenebadrakh bagh, Matad soum, in July 2020 to introduce their activities.
Despite the ban on meetings at the time, the herders were able to issue a "fake" resolution, claiming that they had signed a memorandum of understanding in support of our activities.
It is a world of truth that cannot be hidden. When I arrived in Matad soum early yesterday morning and asked the administration to inspect the soum archives, I was told that no official letter had been issued and delivered to the government regarding the resolution approved in July 2020. ”
The Erdenebadrakh bagh meeting did not include the resolution at yesterday's board meeting. I am sorry for my actions, so I asked you to annul this resolution.
Due to TUYAMAA's own decision, the resolution was publicly discussed and annulled.
Let there be a great nomadic flame
Let the feet of the great coat of arms
Let him be the watchman of his country
However I urge anyone if interested to read and judge what it seems to be about for themselves or of course ignore it.
Correct Nr Positive. It "appears to be" revoking a resolution in support of PMs environmental impact statement that seems to have been passed without due procedure by an officisl of Matad Soum and the activists dont appear to think goes far enough. Thats my personal reading of it....assuming its not an elaborate 2 year fake news story as some think
I completely blame MB for making botch of the whole operation in 2019..
How does he not know that you need local permit to start drilling.
He had no work permit for workers
No local permit
And then took the local governor to court .
He really made balls of the whole situation and made enemies with the locals for not respecting the local governor.
He need to prove or go. He has only made bad decisions by going will on exploration when he had an appraisal opportunity to kick off the season with. Instead he wanted 30mill on chasing wild horses.
What an incompetent idiot.
From what i can gather, these activists been busy pushing for more emphasis on the Environmental impact on local communities from any new drill permits issued by Centtal Govt going forward.
They want some sort of Framework in place to mitigate any Environmental impact and pushed for resolutions to that affect. Given PetroChina lack of effort in past years in terms of Environmental impact / consideration. Nothing to do with revoking any existing permits.
Some people giving too much credibility to just one persons FaceBook page ? They much be loving all this attention.
FA - "The permitting IS in place for the upcoming Operations and as part of the Exploitation License ."
No it isn't. They need permits for the proposed 2022 Work Programme from the government. The 2022 Work Programme includes the work over of the existing well. So they don't have the required permits to do anything yet. Listen carefully from 20m10s : https://youtu.be/0covqU8EQYY?t=1210
I think we need to keep in mind the following regarding the local permitting and local eco-protester problems:-
- Matad soum has a population of about 2500 people, or about 0.0004% of the population of Mongolia.
- There is a multi-billion dollar infrastructure project in progress (refinery + associated pipeline) which will bring energy security to the 3.3 million citizens of Mongolia
Does anyone believe that the Mongolian government will allow the local county council/permit office of a region with population of a couple of thousand people to derail its plans to bring energy security to the entire country?
The answer is obviously no - especially given the direction of travel of the oil price.
I don't have any concerns here, possibly in the worst case this may cause a short term delay, but in reality there can only be one winner in this contest - the needs of the several million will outweigh the needs of the couple of thousand.
If there is any dip in the SP I will be taking the opportunity to buy the dip and wait for reason to win out.
Yes, enjoy your smarties. Lol
ID78 no offence taken. I genuinely dont know if its of any concern or not. Hopefully someone will be able co firm soon enough. Night all
Curiouser, please don’t take my comment as an attack or bashing. Just an opinion.
You post good stuff.
Tuesday we will know of this is a storm in a teacup is something more.
I’m off to ask my mum for a few more smarties. Enjoy your weekend everyone
I am presuming an RNS early next week as I believe our CEO is in Mongolia presently.
Ok well deny or dismiss. Im not here to persuade any one. Its just information. Take it or leave it as time will tell.
I’m not so sure 3000 is such a large number. 30,000+ perhaps.
The gold mine, I think a response from investor relations would be very welcome by everyone on this board
As someone said if it is price sensitive we will get an RNS so what we think
Is irrelevant
Well the evidence is her long history of protests and ability to research and her nearly 3000 followers. Those facts speak for themselves.
It is very difficult to know what weight to give the fb post. On the one hand she is a serious activist and isn't going to sully her reputation with her support base by posting garbage ...but what does the revocation specifically relates to and what impact it will have (if any) is unclear. However it is right to post
Nobody knows what this so-called "development" is about, it could be a shorter ploy to cause panic and tank the SP (it is obvious that there is paid rampers and derampers operating on this board, therefore it is not outside the realms of possibilities that the "activist postings" are part of that).
Even if the "activist" is correct, and something has been declared illegal, we have no idea what that is, or what the impact on Petro Matad would be.
I think the first thing to do is to email Investor Relations and ask for clarification, or ask them to put out an update via RNS, as others have said - in fact I will write them myself just now.
Hamm took you days to come up for an excuse for looking
like an idiot.
I guess it hurt being pointed out over and over?
IF this is something serious it is price sensitive and there will be an RNS Tuesday.
IF this is normal and par for the course in Mongolia and the hoops we have been jumping through from the start then there will probably not be an RNS.
Wait and see… but it is not clear as day. We are judging from one Facebook page. If it was that important I would expect MB to be there. That he was not suggests otherwise.
FA, my post was a quick reference from the activists FB profile page, sorry if it was misleading in any way, but it has been put in today's thread. Maybe I should have taken more time to copy it all word for word but either way this all still needs clarifacation from the company as it is causing a lot of confusion to say the least.
Hamm, is this as clear as day, like when to you it was clear as day we can’t drill in the summer as it’s too hot. Which is complete nonsense. You post nonsense.
We have the exploitation licence for Heron.
We don’t have exploration licences for all other prospects.
Stop trying talking nonsense to try and push the SP down.
MB isn't to be blamed for not updating you guys. He himself hasn't been there for 3 years .
Needs to be updated home.
Have a nice evening guys
This is as clear as day light.
There is no local permit to do the two week workover.
MATD knows that there isn't all necessary permit to proceed oil extraction.
That is why they talk about all farm out, other deals nonsense to buy time linstead of being level with PS holders.
Their communication is so poor on purpose of course that guys have to dig in protesters FB which is a shame.
Best,
The long and the short of this, is this is not what we wanted going into a bank holiday weekend. I seriously hope MB is going to spend Monday talking to lawyers in Mongolia plus his other directors.
By the looks of this the nub is the courts have effectively told Petro Matad that either everything they have done since 2020 or before 2020, i am not entirely clear which, was completely illegal. By sounds of it not just parts of it were illegal but the whole thing was. This does re-enforce the opinion of some on here that MB is not up to the job.
I can imagine what has happened was he could not travel to Mongolia during all the Covid restrictions and left it to the lawyers and a couple of local directors to sort out. When lock down was over it was rather convenient solution so he stayed put and left it to the others and either they are incompetent or have been fobbing MB off with a load of rubbish. But at the end of the day the buck stops with the CEO and i would strongly suggests MB clarifies everything on Tuesday morning.
I just hope to god that i am completely misreading this and it is all easily resolved. But someone has forgotten the importance of Environmental issues in our modern world. Even Mongolia are aware of it. Maybe because Petro china can get away with it we just assumed it was unimportant.
FA - It's not suprising that one of us is getting confused because the CEO deliberately obfuscates when asked a direct question about whether they have all the NECESSARY PERMITS TO COMMENCE DRILLING - note the caps.
He waffles on about conflicts in law being relevant to exploration but not exploitation...blah blah... but that's a complete red herring, intended to throw you off track and divert from the true answer to the question.
Listen from 49m50s. It takes 2.5 minutes but I'll summarise:
Q: Do you have all necessary permits to commence drilling?
A: No