Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Our company and relevant regulatory bodies have contacted all herders whose pastures are affected by mining activities. Everyone agrees with us. All agreed on compensation or new pastures. Once we have taken all the necessary regulatory steps with the government, we will be able to resume operations. Our current first goal is to complete the production well "Crane Crane-1". After completing the drilling of the hole, we perform a "drill stem test". Now to move to production, the installation of the equipment below, the placement of the pump above, and the reservoir for oil storage are missing. In addition, he is about to sign an agreement with the operator company for the sale of oil. Currently, our main focus is on these.
With the 2017 regulation, there are now a few more steps. There are steps that need to be taken by the government. Petro Matad has not entered into any of those contracts. Currently, the process is ongoing between the local administration and the government. The herdsmen who have registered pastures should either be compensated or given new pastures. We are discussing this with the government and focusing on speeding up the process.
Solodgeblue kindly posted the link for us at 10.29
https://youtu.be/173HFppJcjw?si=bYeWz_rtxo7k82jd
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Харин 2022 онд цар тахлын талаар Хятадын авч хэрэгжүүлсэн арга хэмжээнээс шалтгаалаад дотоодод нь тасалдал үүссэн. Маш олон гүйцэтгэгч компани, ялангуяа Хятадаас үйлчилгээ их авдаг газрын тосны салбарын хувьд Монголд ч тасалдал үүсэхэд хүрсэн. Тиймээс 2022 онд үйл ажиллагаагаа эхлүүлэхийг зорьсон. Цар тахлын нөлөө үргэлжилснээс гадна газрын тухай хуульд шийдвэрлэх шаардлагатай зөрчил байснаас газар ашиглалтын хувьд хүндрэл үүссэн. Эцэст нь энэ оны долоодугаар сард Засгийн газраас “Матад-XX” ашиглалтын бүсийнхээ ашиглалтын тусгай зөвшөөрлийг авсан.
Kharin 2022 ond tsar takhlyn talaar Khyatadyn avch kheregjüülsen arga khemjeenees shaltgaalaad dotoodod ni tasaldal üüssen. Mash olon güitsetgegch kompani, yalanguyaa Khyatadaas üilchilgee ikh avdag gazryn tosny salbaryn khuvid Mongold ch tasaldal üüsekhed khürsen. Tiimees 2022 ond üil ajillagaagaa ekhlüülekhiig zorison. Tsar takhlyn nölöö ürgeljilsnees gadna gazryn tukhai khuulid shiidverlekh shaardlagatai zörchil baisnaas gazar ashiglaltyn khuvid khündrel üüssen. Etsest ni ene ony doloodugaar sard Zasgiin gazraas “Matad-XX” ashiglaltyn büsiinkhee ashiglaltyn tusgai zövshöörliig avsan.
But in 2022, there was a domestic disruption due to the measures taken by China regarding the pandemic. Many contractor companies, especially in the oil industry, which receives a lot of services from China, have experienced disruptions in Mongolia as well. Therefore, it is intended to start operations in 2022. In addition to the continued impact of the pandemic, problems arose in terms of land use due to conflicts that needed to be resolved in the land law. Finally, in July of this year, the government received a special license for the operation of the "Matad-XX" operating zone.
Whilst i do not disagree that MB should go i certainly do not think now is the time. Let's get producing then try but to be honest i do not think you have much hope unless Petrovis go along, because with Petrovis and MB's 11m shares then i cannot see much hope of him being ousted.
We discovered the deposit in the second half of 2019. A production sharing agreement was required before obtaining a mining license. It has been a very long and protracted process. I think there were only two such cases before, the last one was in 2012. So, about 10 years ago. The process was inefficient and therefore not very clear. That's why it took so long. Finally, in the middle of 2021, it received a special permit from the Ministry. Of course, it means in the middle of the pandemic that happened in the world. After that, most of the countries of the world came out of the pandemic and began to go back to normal life.
Thanks for the update Aeschylus. How do we access the interview?
Yes it was. Verbal confirmation that the herders understand and have accepted the situation and are in agreement to move.
Surely that should please even the most anxious/risk averse and that we are making progress on the formalities (if not at the speed wanted).
Well that was worth waiting for !!!!!!!!!
Turning on Subtitles in Settings is helping a little
I'm just listening to the interview. It heavily overdubbed by a Mongolian translater so its hard to listen to BUT I clearly heard MB say that the herders had agreed to the proposal to relocate (at around 2 minutes 30 and 2 minutes 45 seconds).
Master82: Do you see any reasons for which MB should remain CEO? Do you believe that MB still has the PM BoD's support?
I’m just about to sit down and listen fingers crossed
https://youtu.be/173HFppJcjw?si=bYeWz_rtxo7k82jd
Reasons he should go..
No permit from locals hence this messy situation.
Incompetent
Has told too many lies
Bad communication
Cannot face shareholders
Not paying attention to his job .
Situated in a different country even though we have huge problem
No negotiation skills
No JV contracts at any level
No preparation in advance for Oil production
Awarding shares with no achievement
Wasted money on wildcats
Hiding information from shareholders. (Like 2019 Court case and judge threw PM out of heron field)
Clearly a failed CEO who had no clear vision and has no clue in to running a successful company
Well, isn’t this funny, if not very stupid to say that the MB "has invested heavily with his own money that I continue to remain a loyal and patient investor in this company"? What own money, where did you get it from? This is not his money at all, but the money of investors, from which he receives not only huge wages, but all those rewards that he sets for himself and BOD every year for his complete idleness and lies, with which he constantly feeds investors. And besides, due to his complete failure as a CEO, investors lose their hard-earned money, but he always wins and the rewards remain with him, even if he is removed from the post for failure. Therefore, please stop to tell us such tales here.
We've already built them wells, cleaned up other peoples rubbish and sponsored sports teams. It has clearly given us nothing back. I'd be playing hardball now.
I said September many months back and was called all sorts for predicting it. If it goes beyond this month with no positive news on these "formalities, and certainly by end of year, then I think we need to accept this is probably a write off.
Sometimes greed can override common sense. At this stage it's difficult to see who is being greedy. Is it the locals or is it MB?
Wolverine. The locals were made up when the Russian build them a tennis court.
Mb has wasted more than 9 million in wages.
Surely 1 mill and the locals would've been very happy.
It's a poor country 1m goes far away .
Do you think he is a good business man.
Master82, The locals are maybe asking for more than they are being offered. We don't know. It's all speculative. No RNS means no news yet. let's wait and see. if no news this month then we need to push MB for an update.
Wise. Wiseup.
MB has achieved very little over the past 5 years.
He is worn out. Listen to interviews, repeating the same rubbish for years.
If you can point to me his achievements and answer why the locals are refusing to grant LP then I will stop going on about MB.
As sir Alan would say who is responsible for the failure of this task.
HE HASN'T ACHIEVED ANYTHING FOR THE PAST 5 YEARS WHAT MAKES YOU THINK HE WILL NEXT YEAR.
Real concerns about due process in Mongolia and the logic behind blocking investors from progress which can only damage the country's reputation as a safe place to do business in.
Has MB damaged the reputation and ability to function in Mongolia? Is this now a personal issue as some are suggesting?
I hope not and fingers crossed everything will click into place with LP issued and new blocks announced and new energy company confirmed. There seems to be a lot happening on many fronts with no news or positive updates, suggesting that issues may run quite deep here....
No one is playing any games. Just fact check the situation we are in.
Been stuck here for 5 years with same old story every year
Think some people play game here & very obvious LOL
Think all i need to be say in post at 07:00am. Rest is little player playing little game in little chat board 😏
RNS will come now most important Central Govt Cabinet permission given & price will makexeay towards header. One who yap yap yap about CEO now maybe know this very well 🦉🚀
We all said same thing last year. Still no oil.
Just ask the question why are the locals opposing. The answer is MB.
The only thing he has achieved is found Oil next to an operating oil field. Which he ruined by not getting a permit..
No Lp
No DQE deal
No PC facilities contract
No revenue
So in total his achievements are 0