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"Magnai Trade" LLC, a major tycoon of the fuel market, began to explore for oil in the Eastern Province in 2018. Specifically, the 17th field in Bayantumen, covering 786,000 hectares of seven sums of the Eastern province, is going to be drilled, and it is still facing opposition from the local people.
In 2019, the governor of the province M. Badamsuren issued an order to vacate the land, considering that the company used unauthorized land in the Eastern region and placed a drilling tower, a large number of containers and equipment.
In this regard, "Magnai Trade LLC filed a complaint with the court of first instance of Sum Dund civil case in Dornod Province. Governor of the province M. Badamsuren claimed that the company suffered damage due to the failure of drilling and demanded 2.5 billion MNT.
In this regard, the Governor of Dornod province, M. Badamsuren, claimed that "Magnai Trade" Ltd. claimed that "damages were caused due to non-drilling in the area of Choibalsan Sum" and sued for 2.5 billion MNT.
In 2010, Bayantumen 17, which covers 7 sums of our province, the company signed an agreement to share oil products.
In 2019, the governor of the province issued an order to vacate the site, considering that the company used the land without permission and placed a drilling tower, a large number of containers and equipment.
The court case is about 2019 when the local governor revoked the land from MT .
Go and find out why the project was stopped. Same as PM.
I'll post it when I find it. So get a clearer picture.
we are ******* in the wind following mg blindly . they just do not have the authority to give special permit.
they wanted to build airport in dorno. it had to be bought to local government to be passed.
they have never dealt with this sort of case so the mg does not have a clue.
why would a 3 month process take 14months and counting .
get the legal team and the governor might change his tune as he has to pay £500k to mt and they are struggling as it is..
Header say it all.
( if you can't beat them, join them )
Short . I just gave you information on when the court case started. 2010 is to do with the gas station they own. Not the exploration side.
They have two sides to their business. Exploration and fuel stations . Just like petrovis
2 max 3 months. Both PM and MT cases too no more than 3 months.
I'm giving you information why don't you research on it.
If no news this side of Christmas then the SP will definately re-enter the trading box of 2.7 - 3.1
LOLLLLL!
I knew he’d be back but thought it would be after the Christmas hols. Hilarious.
What's your holding wos
Wos. You are a big fool. I've told you millions of times. I will not buy this until issue is resolved. I would rather buy other shares that I know will do very well.
YOU HAVE BEEN SAYING THIS WEEK NEXT WEEK FOR VERY LONG TIME.
GIve it a rest and stop making a fool out of yourself.
We pay these useless Management to make us money not to just sit around. We need solutions.
MT has proved a way to get LP.
Exact same problem as PM. Same governor. They found a way we haven't. We are still waiting for the clueless ministers.
3 months to 14months and we are non the wiser
This was posted on Facebook end of October
https://m.facebook.com/story.php?story_fbid=pfbid02GNQXvNWZfA7nmqUNo21ijTjJXMdrRg38iUFVG2AAXfPsipqyKXtwDLsgKgh9BYvml&id=100006879427707
The return of the WoS ... as expected...but faster than i thought... and ofcourse again with misleading info.
On renewable funding: lets put it simple. So you even understand.
If they do not have to invest own money ( equity) reward will be low as well.
If they want this to have a chance of being meaningfull longer term they have to invest money.
They have said need financing H2 2024
Lets see but a fundraise for renewable seems possible h1 2024 and they will raise a bit more to keep lights on...
WoS ve happy sir. You sound a bit grunpy. Ramping not going well? Cheers
Court summons for the governor was sent on 08/08/23
Rate this translation
COURT OF FIRST INSTANCE FOR CIVIL CASES IN SUM DUND, EASTERN PROVINCE
21075. Dornod Province, Kherlen Sum, Team 9, Dornod Province Courthouse, Phone: 7058 2131, Fax: (976) 7058 4971, H-rolur: dornod_tg/@shuukh.mn, Ba6cally: www.courtdornod.mn
2023, 08.08
Ne 3/325
yours
4
No. of
-T
GOVERNOR OF EASTERN PROVINCE M. BADAMSUREN TAHAA
The plaintiff "Magnai Trade" LLC filed a lawsuit against the Governor of Dornod Province "for the recovery of 2 589 950 664.67 MNT for damages caused by the wrongful actions of the Governor of Dornod Province".
Therefore, I would like to inform you that you will come to court room 108 by August 18, 2023.
1
JUDGE
WOS, welcome back again.
Great research/input from you is highly appreciated.
Mr Master
"How much longer are we going to be fooled around"
The one fooling everyone is you sir. Everyone see how few trade move price & big holder can do this.
Always I notice after large sell you come on and cry & scream. If you want to trade small move no problem but to manipulate BB this is not right.
After you buy back you post all time positive until next time to dump & scream.
Who is real cancer here sir?
Do not want this post to be without INVESTMENT information.
Someone ask about Renewable Project funding which think from all research will be MASSIVE SECTOR GROWTH.
Investment funds will come from China AND from article today you see Banking /Govt support -
"The Bank of Mongolia will co-ooerate with the government, private sector and Int organisations to INCREASE GREEN and SUSTAINABLE FINANCING"
"A goal has been set to increase banks' green loan portfolio to 10 PERCENT of TOTAL LOANS by 2030" (source: Bloomberg tv.mn/news/h1090
Also electricity cuts in capital from today & fuel crisis worsen with opposition ask for Mining Minister to resign yesterday.
This will not happen but understand Govt must use valuable FOREIGN CURRENCY RESERVE to pay for expensive emergency import from China.
Today Cabinet discuss protection if FOREIGN CURRENCY issues.
Like I say do not want to post now because of reason say before but think some info useful for real investor here.
Think all can see development here not just fit LP but for Petro Matad position in ENERGY SECTOR for future - this is why I am here!
Be Wise, do not play game & focus on INVESTMENT 🦉
Shortlist. MT case took 2 months if that.
PM case in 2019 took 2 months too.
I posted dates not so long ago.
MT had another case to do with their fuel station. Nothing to do with exploration.
Let me get the dates and post it.
MT was thrown out of their field in 2019 too.
They lost the first court case just like PM
Maybe because the land laws have changed they won and was compensated 500k gbp equivalent
Researchandhold said //BP is like a stain on humanity//
WHO IS YOUR BROKER? Just askin'
The next Agm needs to be in the UK where PI are based not in Mongolia or Singapore.
He needs to face us and answer our questions .
Online they pick and choose the questions.
The clown pilot from Singapore again. Filthy stain on humanity serves you well.
MB is a big fool for not getting legal team involved. The government has had their chance . Minister for mining said 3 months last October. He clearly doesn't have a clue. We got passed around from agency to another agency because they don't have a clue.
Court has the authority to implement the law. The MG government bodies don't because they do not control the local government.
How much longer are we going to be fooled around.
While winter is here till april/may this can be resolved in a court room along side the government's efforts .
Researchandhold said //BP is like a stain on humanity//
Dozy & R&H. For info I unfiltered everyone on WOS's departure but will probably put you back in your green boxes quite soon. I don't give a fig what either of YOU think about me (or about anything else for that matter). I don't think the board is ruined by WOS leaving - it will be much improved IMV.
Manxkippers you are correct if you want to sell on a nice spike. If you are here for long term it doesnt matter.
I think that is one of the many things holding share back. Even if we get LP i do not think a lot of ii will step in. ...but will give a nice bounce.
For now. Sp will go lower.. imho
Dozzawba- I see “ The Stain” is still getting in everyone’s nerves. You’ve hit the nail on the head with your comment “ narcissist “ It’s what they do for attention because otherwise their lives are so empty - oh and thick skinned too since they see everything and everyone is being there to serve them and that void inside them !
Glad the stain is now a green box !
Frankly if the RNS doesn't come this week, I would rather it come early on 2024 when the traders have returned to the market in force.
I would hate to have the hopefully pending goods news fall to an empty theatre.
2.6p-2.6p would be a massive steal. SP will continue to drop due to oil prices but price of oil will go back up eventually!
First and foremost BP I did not say I would.not be on here anymore. You for one are the type of people I mention in my post. As per usual I thought I was filtered by you, you sad little narcissist. Researchandhold was totally correct ref his comment on you. You are the one of the posters who have spoilt this BB.