Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Someone said last week that MB would be in Mongolia - hopefully he is busy attending meetings 😀
Yet another day wasted in bickering and in-fighting.
Just imagine how much valuable information we could provide each other if we all made meaningful and useful contributions to this BB.
ATB
Heron1 in production in just 2 weeks workover.
That is happening soon.
MATD from explorer to oil producer.
60+ million recoverable of oil sitting there.
Rerated fast.
MB in Mongolia to make sure it happens and it is happening.
Stay focus and sit tight and hold to your shares. Guys who are nayers here have no shares or with no significant shares trying to talk down to get your shares.
Not many shares on the market to buy. It is really difficult if not impossible to get any quote.
Rerate, rerate rerate.
Guys,
Dear mighty mouses: Thx very much for your attention.
Fact is: Your complaints are obviously not reaching the ones they are intended for. You can put me and other posters on this board down and provide the BB with tons of critisism - but where is that getting you?
I presume this BB serves - as already mentioned - solely the purpose of ventnig frustration. I hope you're feeling better.
Absolutely Doc. In person should be an absolute given.
Ojay talking nonsense yet again
“Regarding AGMs in Mongolia: Every shareholder has the opportunity to join the Q&A session by phone or online - sorry there are no excuses.”
Ojay - I “attended” this years AGM online but MATD did not provide a video link, just audio with the ability to ask questions in a written format, with MB able to pick and choose which of those he answered. I asked a question of MB, which to be fair he answered. However, I was unable to ask any follow up questions. Simply, there is nothing better than meeting a BOD or CEO in person, to see the whites of their eyes and asking them direct questions. It genuinely tells you so much more.
Out of interest, have you ever attended a listed company’s AGM in person?
There are posters on here who say they DO contact MB/PM directly, who DO contact the British Ambassador, who DO even contact the MG. How much good has it done?
And you guys never let me down, in fairness... much appreciated...
I do feel for long term buy and holders here though.. it has being a long and generally painful journey so far, sadly
Investor33's post is my post of the day here .. this share has been a traders gift for years now.... and I'm very thankful for that.. and hoping for more spikes(ish) to come:
I guess we will get Heron regional/ local sign off later this year .. and get into production either late this year or a bit more likely in Spring 24.. I don't think bottom line from early production will be as favourable as many here are expecting .. but the company will be on a solid footing to further drill out Heron and grow incrementally thereafter..
Alas the AIM O&G game has changed much for the worse for players in recent years... and so the 'spikes' that the above gets you could be pretty timid eg what got you 5 bags a few years back gets you one to two bags nowadays....
So, after taking advantage of the last spike, I left my placeholder bet here at its lowest ever level at approx 1.5k gbp..(used be 3k ish gbp ) as I expected this to fall well back down towards that same ole 2.5p ish and not rally hugely from there on next 'spike'...but I'm wondering now if it will go as low as 2.5p ish.. as we're as advanced as we have been on the road to Heron Oil now.. so my new target for starting adding back will be around 3p... and I don't expect more than 7.5p here over next 12 months either..and think that would be a fine achievement in itself.. that may easily not happen either, alas..
IMHO & DYOR
I fully agree BP, Doc, Landiman and Horsers:
This platform appears to serve solely to vent your frustrations. Your contributions on this BB are obviously addressed to the wrong people; what you post here does nobody any good - but I'm sure you know that because all you want is to annoy. Keep it up!
Regarding AGMs in Mongolia: Every shareholder has the opportunity to join the Q&A session by phone or online - sorry there are no excuses. All I see is that the 3 or 4 mighty mouses on this board prefer not to place any of their socalled "tough questions" to Mike Buck or the BoD. What bunch of chickens!
Completely agree Master. Due diligence was certainly not applied pre drill. I cannot see we have had one positive RNS since oil discovery back in early 2019.
This was an extract from RNS Aug 2019 which shows we are no nearer solving the land permit issue as back then. Mispromises from MB time after time
"Further to the Company's announcement on 5 August 2019 that the rig at Heron-1 had been put on standby pending the resolution of a dispute on land use, the Company can now report that the central and provincial governments are resolving their issues and have given verbal approval for the Company to resume operations on Heron-1 whilst the necessary paperwork is completed."
So all this ramping that the land will be sorted "soon" is wishful thinking . How soon is Now?
I recon he will come up with multi well program next year and he will right this year off.
We have all waited 4/5years with very little progress and are getting frustrated waiting for some paperwork.
It is all MBs fault that we need special purpose licence so there's no way you can back him up..
He should've got all the permits before drilling. He was not competent otherwise he would've done it before going out there drilling.
"there are multiple more proactive ways to engage with the company that don't make you sound like school kids."
Yes, like attending AGMs and challenging the BOD, which is what I do with my other companies. However, MATD decided to hold the AGM in Mongolia, and not London where their primary listing is!
Velo //we are very close to some significant wealth generation //
//patience will be handsomely rewarded shortly.//
//production in the next few weeks,//
I think you are being overly optimistic. There is no evidence that production will start anytime soon and until it does (IF it does) the SP will continue to stagnate.
No definitely not, the point is if you are an investor and not a shorter , you take a position for the long term and you may take another short term trading position but if you lose face in the man running the show you need to have a long hard look and decide if you want to stay invested or take a loss. Aim isnt for everyone.
The problem is everyone has their own timeline and their own objectives so when I see apparent shareholders talking the company down, I am always suspicious of their motives, as it defies logic that you would invest in a company and then bag the CEO out l, behind a keyboard, when there are multiple more proactive ways to engage with the company that don't make you sound like school kids.
Let's face it,.it's bee n a very long journey but in my opinion we are very close to some significant wealth generation for shareholders and to me personally I am confident that MB will deliver and patience will be handsomely rewarded shortly.
I hope that this is very close to the end of this long winded process and we can make some meaningful progress towards production in the next few weeks, albeit maybe only production from one well before Xmas, but that revenue and the associated change from explorer to producer will carry a significant share premium and open up lots of funding and operational options for the company.
Remembering our cost is approx $35 per barrel so at 85 to 90 a barrel less trucking the economics of this one well are massively significant to the company. 24hours a day 365 days a year with one of the best PSC deals you could imagine in oil.
You have to back the CEO, he has 10M reasons for success
Without any doubt! And in contrary to the posts constantly written here by paid trolls and optimistic idiots who continue to believe in the dirty games of corrupt MG bureaucrats and their henchman, rogue MB.
Totally agree Doc.
We have a lot of loose ends which show promise and hope with encouraging strategic thinking, but no solid facts or stated reasons. IOM meeting and new co Petro Matad Energy Ltd being one along with the MG delegation for a second. Also the renewable energy drive which seems to have been downgraded to an internal need for power to pump our oil on our sites with possible extension to a bigger game in the countries drive for renewable energy. (Did MB really mean it to come across like that in his last interview?) Etc etc!!!!
An open Q&A sessions would leave us all so much clearer and happier.
Velocoraptor - so as a LTH that means you must always be positive?
I'd say a sensible investor should absolutely challenge the logic, and the management team for that matter. MB should do a Q&A more than once a year at the AGM. For example, I'd like to know more details on the IOM meeting with MG reps.
Sadly, it looks like a wasted year. The shops are already getting the Christmas decorations in! But let's hope MB and the MG pull something out of the bag for us.
Add me to your list Landi . No oil this year . Another wasted year for sure .
Are you though? You don't act like it and you don't behave like it.
DP, Even IF they have a trickle of income, what is the net $ per barrell to PM which is never discussed let alone the price per barrell. You only have MOU and 40% going to goverment being trucked hundreds of miles probably only six months of the year. How many trucks at your disposal and then storage and that is to satisfy the companies 3m expenses.
We've hit the bottom, as it falls to 3.4p on the bid!
N1 - I asked yesterday if you could elaborate on your view it was easier to buy/sell yesterday? I've never had any such issues.
//As I mentioned yesterday it was easier than most days to buy and sell shares//
I don't know why you should have any difficulty in that regard. Most folks seem to buy/sell at will.
BTW - the drilling season will end shortly so even if there IS production from Heron 1 it will provide only a trickle of income until other holes might be drilled next year. Cash raise inevitable IMV.
No I do not think it will go to that price. If anything I think it is already at rock bottom and in my view should take off from here .As I mentioned yesterday it was easier than most days to buy and sell shares
I don't understand what you mean by no progress has been made? That's just not factual
We have an exploitation license and we have special purpose certification for the whole area and we have 60 million barrels of recoverable oil. Plus a lot of other things in the background.
My personal view is that is pretty significant and the value to shareholders is overdue to catch up to the news. We should have been at 10p plus already, on the exploitation alone but it will catch up quickly once the formalities are concluded.
Cheers