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Which has happened in the past with other companies which i did post about some time ago and also got shot down for that. GLA
The LP is held up because OF Mike. He is the reason for locals not approving the LP.
At least you got any answer, no reply to my three emails I have sent over the past 2 weeks! Communication utter crap!
Thanks Mike.
That doesnt sound like anything happening SOON...
I got so frustrated over the weekend on this share i finally got round to emailling HO.
I print my bit and then put i their answer.I will leave my view of the answer out but think it is self explanatory.
Mike
I have been a patient shareholder here for several years now and was hoping after the last RNS we would finally be getting somewhere.
Can you please give us an update as there are more than a few of us who think that the Mongolian Government have lost control of this whole situation and the reality is that the tail is wagging the dog here. We pass over the money to ministry and I assume that by now that has found its way to the right province and is being held up deliberately at that end. I am sure that the weather at the moment is hardly conducive to staying outdoors for two long but it will not be long now that -40 translates to Zero and we back into an active time period. Is this likely to happen this year and how concerned should we be with impending Mongolian elections later on this year.
Answer
We appreciate your support and continued interest in Petro Matad.
We share shareholders frustration at the bureaucratic delays that have held up our activity at Heron 1 and are doing everything possible to push the Mongolian Government at all levels to allow us to move forward.
Please rest assured that we will update shareholders in due course on the progress we are making.
Imagine my surprise.
NOW
Should we be relaxed if we still haven't got land access in, say, another 2 months?
When is the time to get concerned?
Aeschylus : The exact wording was ' but we are pushing and expect this to go through soon. ' However it was not referring to the other three stages which I mentioned - just to the transfer of the money from the Ministry of Finance. For all we know this may already have happened.
No other reference is made to probable timescales in the rest of the RNS, so the numerous posts on here saying that there have been delays is just subjective opinion with no basis in fact. Let's face it, if the share price was still 4.5p people wouldn't be panicking.
"and a comment on a fb post said something along the lines of the miners should be helping."
Bit rich of them when they've done nothing but block the miners from making money. I'm very against anymore PM money going to the locals in "brown paper envelopes". They've had plenty enough so far, and we'll be paying our due taxes on any oil we produce.
This is what i Think .The Mongolian Government dont want a western company running there oil .They either want a Russian or Chinese company to run it .And are just stalling till we have had enough and give up ????????
Yes Aeshylus.
The are calling miners like PC . Stepp gold and other to help out.
Its a perfect opportunity to show PM will support locals in times of hardship..
Even the prime minister is out with trucks loaded with hey to show his support.
Master I agree. I noticed the activists are rallying support for the herders crisis and a comment on a fb post said something along the lines of the miners should be helping. Whilst we've put our hands in our pockets before this will be the right thing to do
Investor33 I believe the actual phrase was "almost there". It's been two months since. That's a delay by any reasonably objective standard.
And the non standard element
of the remaining proceedings stuck out like a sort thumb (to me)
The current crises faced by the locals is an opportunity for PM to help out locals and get good press coverage.. Its a perfectly human thing to do and donate towards the suffering of those poor animals. They buried alive and its a sad to watch..
I am sure PM will win the hearts of the locals.
Even 50k will go far.
Hamm - 2 or 3 weeks ago weren't you urging people to buy at about 4p because in your words ' there is no risk ? '
@Aeschylus
Why do you insist that there is a delay ? The only reference to timescales in the last RNS was the word ' soon ' however if you read it again this comment specifically related to the transfer of the funds from the Ministry of Finance, and not to the other 3 stages which were stated in the RNS, which are ;
1) The signing off by the Provincial Governor
2) The issuance of the special permit to MMHI.
3) The signing of the Land Contract between Matad District and MATD.
So speculation that the Ministry of Finance have not yet transferred the funds is not based on any objective facts. It's very likely that MATD will not release the next RNS until all 4 of these stages are completed, and 2 months for all this to be done is probably not even realistic in terms of the sclerotic Mongolian bureaucracy...
'The money is awaiting transfer ONCE THE MINISTRY OF FINANCE GIVES APPROVAL for this to go ahead'
Why should it be difficult to just approve it? Unless there is no willing to do so!
How long excuses can go? How many permits have we had? It is just stupid that MB doesn't speak out and do sth different.
MG hasn't been supportive at all and all MB advance talking hasn't materialized yet.
However I believe he wants LP as much if not more as we want, but his strategy hasn't worked yet.
Down we go again till LP landed.
Words from the RNS that people may have brushed over.
UNDER THE LEGISLATION, the compensation payments SHOULD be made from the State budget
The money is awaiting transfer ONCE THE MINISTRY OF FINANCE GIVES APPROVAL for this to go ahead
"but why is it that everyone keeps on attacking wos..."
Because he attacks anyone who disagrees with him, and then proceeds to follow/stalk them on other boards!
Anyway, 3.00p bid...
Mike Buck has applauded the slow but legally correct route, until the suggestion of a non-standard compensation methodology. It worried me at the time when I read it.
I thought why would a politician take the risk of not taking the prescribed route to help us out?
Even a basic understanding of Mongolian politics tells us there is a huge popular nationalist resource movement (i.e to keep all resources in and owned by Mongolians). The activists are just the vocal end of that broadcasting any and every violation of rules.
I guess we'll see what the delay is when we get the next RNS.
The government has messed PM AROUND FOR 5 Years.
If they were supportive they would give a special permit like they have issued for their pipeline and railway.
This has to go to court just like Magnai Trade. It took them few months to get LP and compensation..
Government doesn't give a damn about activists unless it suits them.
If the short cut process wasn't the case then shouldn't be an RNS?
However any RNS not cover LP wouldn't be good really.
cyber.
you are clueless..this has nothing to with government. if it was , we would have the lp.
you might not know the full story. why is the local governor being an ****.
go and do your research.