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Again no RNS today...
If politicians here in the Netherlands say they will do something we do not hold our breath. Most remarks are political and to please the voters...action is often limited.
Now turn to mongolia. Add in corruption. And we should now believe they do what they say... hmm i know where i will put my money
Think this make it MORE urgent mr Manx Kipper.
Govt must see to do something - if not help in situation right NOW then protect from situation in FUTURE.
Right now they buy emergency supply from China at expensive price which use foreign currency reserve.
People who have no fuel in countryside are same one who live in Matad and other Sum in Dornod Province.
Mining company need to use very expensive Euro 5 import.
All this push up PRIORITY to get domestic production permission and why DECISIVE action will be taken.
It is not Petro Matad who speak directly with Local Governor now but MMHI. There boss Mr J Ganbaatar in charge of FUEL crisis and why look like "Decisive action" threath toward local governor now.
Everything look much better for priority of LP signature now. 🦉
Thanks WOS.
A little concerned now that the importance and urgency of issuing an LP for oil production is slipping down the list of priorities if there is fire fighting happening to sort the immediate crisis.
Let's hope it is given quickly, but I am not holding my breath.
This was headline today - I did try to explain to people for some time how this situation getting worse & affect PEOPLE & ECONOMY!
We know most people on BB just like to play game, gossip & insult - this do not help to understand situation & investment.
Most of foreign currency reserve /GDP come from mining production. This is why so IMPORTANT to have DOMESTIC production of oil or EVERYTHING STOPS!
DP have formally submitted demand to Prime Minister for MMHI head Mr J Ganbaatar to be dismiss - do not think will happen but pressure for him.
This is why yesterday in Parliament statement on DECISIVE ACTION so that person who get in the way of oil production project will be deal with.
Think very obvious where all point and investor maybe look at company assets, development strategy, fast track growth plan, RNS price re-rate we expect to start this and compare with mkt cap NOW and OPPORTUNITY NOW - maybe look back and see what was so obvious from intelligent research.
Or maybe carry on with gossip posting from usual suspect.
(Intel Source -news.mn/r/2692248/
🦉
💯% -do not know how to say more clearly!!
Corruption only works when you have the power to delay, stop or authorise what the payee wants.
If the Mongolian Government want this to happen and are calling individuals to account who stand in the way of their wishes then I don't see that there's any leverage for individuals to exert and potentially retribution from on high should they try.
The high profile nature of the current fuel crisis must also make it very difficult to obstruct the process.
ShortShrift, you present reasoned views and arguments. The bureaucracy here is legendary for its tardiness and I have no doubts this is part of the equation. It is not I believe the full answer and cannot explain the length of delays. If it were I would not worry. Where corruption creeps in ( it is as you know endemic in Mongolia) it needs more than keeping fingers crossed. As I have said before. This project WILL come good but unless the corruption element is swept away the benefit will not be accrued by the PIs but by those who have unlawfully achieved interests in the business and its development.
Researchandhold said "BP is like a stain on humanity"
PS. WOS has been ramping the S H I T out of this for months & look at the SP!
Researchandhold said "BP is like a stain on humanity"
Dozy - I think you're setting a bit too much store by how comments on a BB affect the SP. If you think that the ramping (or otherwise) on here influences the SP to any great extent I fear you are mistaken.
Mr Dozzaeba
Thank you for opinion and very good points. Reason why I do not agree and with respect is this.
- Special certification go thru as National Importance Project
- Law can put local governor in prison do even if DP put him in power Govt in place now can take him out and into prison
- Dornod get lot of benefit under this Govt like International Airport (2nd after Ulunbaatarr).
I think statement in Parliament today sendSTRONG message and DECISIVE ACTION mean just this - take out person obstructing with arrest & prison.
You will see how many politician in bigger position then governor get arrest recently under coal theft investigation.
This is why local governor did not say NO but did say if Cabinet order then must do as they say. This does not mean he cannot delay but also know process like Herder compensation did need to get done.
Now think good time pass, FUEL CRISIS hit and threat clear about take people out of position who hold up oil production project.
This was not interview or comment but say to Parliament as clear message.
Think this tell me very good reason to have confidence but all will have own opinion.
🦉
ShortShrift, companies like MATD cannot deal with this alone. They need the support of the British Government, through the British Embassy. The British Government has a policy of limited support for new O&G development overseas, but this has exceptions, including where a British company is experiencing difficulties of this type. The problem however seems that the Foreign Office may not be interpreting and applying the legislation this way and are not therefore giving their total/full support to dealing with the matter. If they did I am sure (I am aware of similar cases in the past) that it could be resolved in reasonable time. There have been multiple Ministerial visits, Trade envoy visits, Regional trade and investment visits etc where this issue could have been raised at the highest levels (Prime Minister President etc included). I have seen no discussion or evidence of this). The 60th Anniversary of Diplomatic Relations was just celebrated. This would have provided a perfect opportunity to press the case for Petro Matad. I heard no mention. I am told that the Embassy has said it will no longer answer enquiries as to what support it is providing. I would suggest that all investors press the case with Petro Matad, the Embassy and even their MPs who have an interest and responsibility in ensuring that British Companies are not disadvantaged. I have made representations, but an odd voice in the wind has very little impact.
from what is posted on here and listening to all sides and it's wrong to **** each others point of views. personally if i am invested in a company at a sp so hypothetically say 2p and some ramper comes on and ramps the fk out the share and it goes to 5p i am as happy as fk, so why do people **** that person off, why, why is it only for other ulterior motives ???.
anyway from my own personal pov - as said imo pm is being held up because of corruption by the provincial governor who is a dp voted governor, not mpp as per the central government and as per mon1 post. i wish i was wrong but cannot see for another reason why. wos i hear what you are saying, but don't know how quick this can be sorted. as much as everyone else, well most i hope it can be sorted sorted soon for most of our benefits
So I have found out that the average salary for a herder is approx $5000.
Does anyone know how many herders are going to be requiring compensation
Petrovis will want ROI
Be Wise 🦉
Researchandhold said "BP is like a stain on humanity"
Well, at least MB and the BoD will have made a pile out of it - that's what AIM companies are all about isn't it!
LOL - thank you for input Mr Cybertron.
My focus is on header 🦉
Wiseowlspeaktoomuch, what now buddy looks like matd will be thrown out and license taken away, share price dwindling down and should hit 2p by Jan,
I don't think anything will happen here in 2024, the best mate will do is when they don't get anything next winter got to court over it and maybe look to drill in 2027 or later, think by then they will go bust
Things change.
Not many choosing to invest in Russia now.
And as we've seen there is a rule of law that's enforceable if needed. And the laws have been changed to accommodate Petro Matad's needs.
And on the ground there's pressure for Politicians to resign over the current fuel situation in Mongolia.
What's to be done?
I think that with the benefit of hindsight and >10p/share it'll be amazing to think that some thought that it wouldn't happen.
It'll happen.
Think you will find everyone rushing into Mongolia.
I cover EU trade missions, Emmanuel Macron visit, US & UK trade missions.
New Govt & legal change attract lot of investment with new Govt & advisors lots Western / Harward educated.
Mongolia set for major growth but make up own mind 🦉
Interesting to note that even the Russians back in 2016 pulled out of cooperative ventures in Mongolia relating to precious metal mining, due to the unstable political situation in the country. Seems to me that Mongolia is just not a good place to do business simply because the country isn't governed properly. What exactly is the agenda of this crazy regional governor ?
Dozzawba - I did filter WOS. I think he is the only person I’ve ever filtered on LSE. Then he followed me over to another board simply to troll and s1ag me off! He does that quite a bit.
After that, I unfiltered him. You know, keep your friends close and all that.
On MATD, disappointing to see it dragging on. MB to me quite clearly tried to set our expectations that this year was a no go. Here’s to hoping it’s sorted in Q1 2024.
I know I keep going on about the court. But justice can only be obtained in court. We have given Mongolians very very long time.
Management should just go home as they are doing 1 months work a year .
Why such a huge wage bill when nothing is actually happening.
Time for a change time for new strategy in dealing with MG .
MB is useless as you get . He is taken for a ride and he has no authority to handle these Mongols
RG27, This is the reality. Corruption is at the root of these delays. Until this is addressed (either by acquiescing or dealing effectively with this challenge) the project will not progress. In either case PIs stand to lose out the longer that this drags on. The management are aware of this but appear incapable of rising to the challenge.
Https://www-montsame-mn.translate.goog/mn/read/333456?_x_tr_sl=mn&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Russians playing politics, trying to look indispensable.
Quick points and very simple -
- Not sure why hard to believe. Source link there and was statement TODAY by Speaker Mr G. Zandanshatar to Parliament.
- LP not there to solve CURRENT oil shortage. It is to show country have do something about fuel dependence AND save foreign currency reserves (mention by Mining Minister last week & Cabinet discuss about foreign currency saving measures only yesterday).
- Local Governor has authority to ISSUE LP signature but NOT BLOCK. This is why DECISIVE ACTION statement TODAY against one who block oil production is so important.
If anyone poster think this is "joke" okay but all Intel there for all to make up own mind.
Hope this help serious investment discussion 🦉