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People begin to start BUY back in now as near term funding uncertainty type address & company carry on with preparing for 2024 drilling season.
Long window with seasin just starting & pushing on both front.
Price pushing up further on google finance & think lot more get back in coming days and who catch up on AGM feedback.
Do not think under 3p for long imo & start to push back up to previous higher trading levels.
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The investors are getting smarter here.
Cash raise or no they are are not pumping in more because they are none the wiser.
Boots on the ground in heron is now needed for MB and his boys to salvage any pride. Anything else will have no effect on the sp
I would also have asked ;
- Has the governor tried to interfere with the district land access permission so far, given that the last RNS stated that ' we will remain vigilant ' to this ? Given that more than 2 months have elapsed since the last RNS, one would think that this would have become apparent by now either way.
For me the passage of this district access permission is still shrouded in mystery after more than 2 months of being underway. I will listen to what was said later and will try to see if what was said gives some clues as to what is happening.
I am not happy with one phrase in this and trust someone will tell me otherwise.
The RNS starts with "In the Current time PM owns 100%" this seems to imply that part of this is going to be taken away from us or am i getting a bit hyper.
I haven't listened to the AGM yet, but for me the main question I would have asked still hasn't been discussed on here since the AGM finished.
For those who have heard what was said in the AGM ;
- What did MB say in relation to the timescale for the signing of the district land access permission following the district committee voting in MATD's favour over two months ago now ?
- Did MB mention that there have been no delays and that 2 + months is normal and to be expected, or did he say that there has been some kind of hold up ?
- If there is a hold up, then what's causing it ? Is it related to the ' government agencies ' which were mentioned in the last RNS ?
- What are the government agencies, if the paperwork is still being processed through them, and if they are involved, what stage is it at now ?
I don't hold out hope for the special purpose tripartite agreement being signed in the near future, due to the intransigent governor requiring the government to alter the status of the protected land, as apparently was stated in the AGM. So for me, extracting oil in 2024 depends entirely on the district permission paperwork being completed and signed off. In which case the special purpose agreement will presumably not matter until 2025.
Of humble pie been eaten today. GLA
….. and another wasted year…!
Personally multiple years invested in Petro Matad - and still nothing.
Waste of time..!
Gone BLUE on google finance!
Coming days will start to push up stronger imo.
Buy or not - no problem!
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Focus on Investment - Header say All - Why I did Buy more few day ago (and posted it) while others were doing 'Small PI hysterics) lol.
Petro Matad have OIL & Very Strong position in Renewable sector about to explode - No RAMP / FACT!
*ADB did approve over 90% funding for other Renewable BESS project with Japan funding + Mongol Govt funding rest. Watch what happen when China funding come in!
Petro Matad have Local Agreement and address "disinformation" with facts to get final signature.
Contractor preparation all going ahead & equipmentnoaid for from before.
FULL SUPPORT OF PETROVIS & FUNDED INTO 2025!!
Little PI hysteria still trying to play game but clever ones beginning to understand, stop rubbish talk of funding & now look at maybe 'flip flop' not such a good idea !
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Well, as i said NO RAISE....despite months and months of Professional , Professionally De-ramping the hell out of this share. I mean how wrong can you be? And many fools have been taken in by him. The outstanding matters will be resolved....And the SP?..... This is going back up.
Sorry typing on a phone on a train. I meant
it seems we are funded to 2025, we await either the local soum to sign off the LP vote and/or the SCP and with the SPC we know that we have support of cabinet, of MRPAM and the last RNS informed us that the Ministry for Economic Development, which is in charge of stimulating foreign investment in Mongolia has been very active on this (the SPC) issue and is preparing a submission to Cabinet to attempt to remove the obstacles to completing the process.
Hopefully makes more sense.
Researchandholdsaid //BP is like a stain on humanity//
(For me) the big issue was Heron starting up this summer with at least some production/sales. Looking like that isn't going to happen so unless you want to sell - probably at loss - it's bottom drawer time. In view of the continuing lack of significant news even the trading opportunities will be limited IMV.
MB is damned if he does/doesn't isn't he? If he looked casual that would be wrong. If he looks frustrated then ditto.
I wasn't able to listen but from reading the board it seems we are funded to 2025, we await either the local soum to sign off the LP vote and we know that we have support if cabinet, MRPAM and the last RNS informed us that the Ministry for Economic Development, which is in charge of stimulating foreign investment in Mongolia has been very active on this (the SPC) issue and is preparing a submission to Cabinet to attempt to remove the obstacles to completing the process.
Good points:
Fund through 2025.
Petrovis loan still available/untouched.
Staff wages already minimum.
NO more new blocks/land contract signing till land use problem sorted. ( That is a very good one)
Studying legal actions incase.
Heron equipment bought and ready.
Engagement with activists.
MB said he can't sleep himself over night. Certainly he wants to do sth but can't.
We need a leader who can make decisive decisions. He should speak up by giving bad publicity about the real Mongolia.
IMO we won’t see a drop of oil out of Heron this year. MB sounded even more exasperated than usual. He said the governor said he didn’t take it personal being taken to court in 2019 but clearly is. And central government also seemingly holding things up. In all areas, it was delays, delays, delays.
The fact the cash situation seems ok for now might mean some stabilisation for the SP, but I would expect any slight rerate in the shares to result in MB going for a raise.
As it goes we MATD is gonna wait until next year! Then raise, follows with another year or years after.
Master, this kind of campaign doesn't work. MATD/MB need to make difficult decisions.
The story has been the same in the last 5 years. Will not change. It is time to act I am afraid.
Obviously MG/reginal G are playing fools. MATD should give them a deadline which should be quite sometime before the drilling season ends. While doing that prepare itself to take them to international court and claiming all the money which has been lost during the last 5 years and more.
There should be a campaign by investors on social media to show why investing in Mongolia is risky.
The Mongolian government should be held accountable for this mess.
No wonder not a lot of interest for mining in Mongolia.
They are not business minded like the Arabs or the Russians and Chinese.
To make money you have to attract foreign investors.
Mongolian is not Saudi or Dubai where they will attract tourists. Mongolia is poor and no infrastructure for tourism..
Isn't it stupid that MG sells explotation license and in that case no land use required and the regional/local are ok with that then the company can dig the land and don't need land use! Now the company wants to extract the land which has been digged/used already needs a land use permit. Unbelievable.
The central government is supportive but don't intervene. But surely when refinery is ready their attitude and willingness would certainly change.
Can see the results of the AGM in the market reaction!
We just have to pray this governor does not get elected .
Annnnnnnnnd nothing happened
IMO RNS Clearly explained regarding Signature issues.
Good to know fundraise in Not Imminent, this will help Stabilising the SP (maybe between 2.7 and 3.3)
AIMO DYOR
YOUR MONEY 💰 YOUR CHOICE 🤔