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Nobody can say mike buck is doing a good job he has single handedly.decimated this share he is one wa--er
@ Velocoraptor - very well said.
Good to see that there are some sensible people who post on this board, amidst all the hysteria.
MG support is laughable. 4 years to resolve a land access. This is MGs problem too. Why sign a PSC if you don't have control over the land.
Why do you think petrovis has started exploration company. They could've just put more money in to PM . They realise PM is run by a drunken sailor, Out on a treasure hunt without a map. Clueless and helpless.
MB has bought SP down several times this year due to his pointless interviews and RNS.
I'm puzzled as to how other companies are getting on with it without any issues.
Wow there are some sooky lalas on this board.
I mean seriously, Mike should resign because a few whining LSE members who hold a grand total 10000 shares think he isn't going fast enough. It's honestly laughable. The government has been very supportive of MATD and has given us special certification and an exploitation license in a short period of time. We are dealing with frontier processes and a politically young government.
This is classic MM manipulation to make a quick dollar.
The reality is we will be producing oil, in my view before the end of 2023, the reality is we have 60m recoverable Minimum, possibly a lot more in one structure. We have a lot of other areas to explore and we should be awarded more land to explore in the current tender round.
We don't require any additional funds until the middle of next year, possibly never.if DQE deal goes ahead. Noting its been sent in for Government approval. Also noting we are not as temp / weather dependant for production so we can become operational at any time for the pump install / workover as far as I can see.
So keep buying the dips and keep your chin up. We have had a crazy ride to get to this point but we have never been closer to selling the good oil.
Cheers
Those investors who held shares in Hurricane Energy will have already seen a similar situation and will undoubtedly be reminded of the fiasco during which an incompetent CEO resulted in Hurricane being sold off using it's own cash reserves for a fraction of its potential value.
@ALGU
You are right - the interview was mildly positive, however any ' news ' creates an opportunity to play around with the price action, which we have seen time and time again with MATD over the years. That's why I bang on about it - the short term price action is dominated by this.
I don't blame the MMs for what they do - it's a very good business model. Most short term traders are using technical analysis, and of course support and resistance levels are a massive part of this. So stops are typically placed around historic support levels, ands the MMS know this and can even see where they are placed. It's a great business model to then take these stops out and buy cheaply without driving the price against yourself. Once you get another price spike of 6 or 7p on further ' news ' then they will unload them with 100% profit or more.
Until the company actually generates revenue then MATD will always be subject to this kind of extreme price volatility centered around ' news ' such as the recent MB interview. A sudden price spike sucks in buyers who then become weak holders when the price drops just as suddenly back to around 4p. We have had lots of ' sucker rallys ' in the last few years, and there will probably be a few more. Even when the oil is extracted and sold, I think there will still be a fair amount of price volatility. Just look at all the armageddon posts you are seeing now on here following that MB interview - this all helps the manipulation, as it spooks those weakholders who bought in at 6 or 7p this year.
It is time for the board to recognise the realities, most notably: the political situation and continued bureaucratic delays; and the weak financial position of PM, requiring repeated fund raisings at extraordinary discounts in order to further the dream and pay for overheads.
Topped up.
20p - dream on! Most holders would be happy to get out at 7 p- 10p. and forget the nightmare this company has become.
20p would be fair to shareholders I guess if there would be a buyer.
I wonder who would be potential buyers?
MM manipulation…
OR
The market is saying that another year is going to pass us by with no oil produced and is pricing us accordingly?
I would be amazed if we have a positive RNS anytime soon. If there was one potentially on the horizon, why would MB have decided to do that interview? More likely, he is setting our expectations to not expect anything this year.
From a mid-term perspective, MB's update was actually fairly positive. Everything looks on track, so with a bit of luck on our side to have oil producing year end would be a great result.
What's unfortunate is that the market doesn't operate that way and short term the news put up a big signpost saying 'nothing happening for the next few months' which for AIM might as well mean sell up and go away and demand dries up for 4 months.
I think MB could have probably avoided this by not giving an update at all, but at the same time if there'd been no news the SP would have drifted anyway.
IMHO this is probably a buying opportunity and one to tuck away for 4 months. The fundamentals are still good, it's just more waiting. The risk is that we've been here before and MATD has had a number of false starts. I'll probably be adding to my position.
HAMM: A DCF valuation of Heron is likely 35p plus. I think shareholders would gladly accept 20p given the current circumstances. That would leave the buyer with plenty of upside. The question is “what would be acceptable to Petrovis”,
Takeover would be an option. What would be the fair price?
Price which would be great for a buyer and good for shareholders.
“Nero fiddles while Rome burns”
Buck is useless at all fronts.
In 5 years he has not progressed and has spent almost 30million.
Name me one of his success stories.
Big fat 0
A better scenario than Buck’s departure would be a takeover. The board should consider the interests of shareholders and put the company up for sale.
A line got cut off there at the end of my last post for some reason. I meant to say ;
"At one point I was 60% underwater since I started buying MATD back in 2019, so I'm not too worried about a bit of MM manipulation and their scare tactics. "
In fairness to MB and the rest of the employees at MATD, we don't know what kind of effort or hours they put in, as non of us a privy to the behind the scenes work that goes on in their offices. It's all speculation when people say that MB or others are slacking. They may be frantically busy and working long hours. We just don't know.
So with that MB interview, which some might regard as ' news ' inevitably the MMs have used this to play around with the price action. Just another excuse to drop the price sharply and accumulate more shares cheaply by hitting any stops which were place around the 4p support level. If they bought large quantities suddenly to accumulate, the MMs would push the share price up against themselves - it would be a bit like that scene in Dad's Army where Manwaring bids for an orange in an auction, and finds that Pike who is trying to buy the orange for him has been bidding against him....Plus it creates a sense of panic to shake out any weak holders who spend every minute of every day fretting over their holding. At one point I was 60% underwater since I started buying M
he needs to go plain and simple this is a ******* **** show
He has no clout. He is being played.
Problem us He is never in Mongolia to go and fix this issue.
Look at other CEO s they are on the ground doing their job.
MB has been faced with problems since he has started and he bought it upon himself.
He is dragging everything out. Makes you wonder if JV companies are staying away due to his lack of enthusiasm.
He need to step his game or resign . He is no use to us with this relaxed attitude
Hows the accumulated position looking velcrofly?
Another .5p and maybe this is worth a top up. Pure gamble though.
Market not impressed with Buck... no bang in him
Lots of positive meetings but we are at the mercy of the locals.
BOAZ MINISTER B. BAT-ERDENE HAS A MORNING MEETING WITH THE NATIONAL ASSOCIATION OF MONGOLIA MINES
✅In the framework of the Mongolian Government's "New Revival Policy", a meeting was held with the Mongolian Mining Association at the regular "Morning Meeting" held with the Environment and Tourism Industry and a Memorandum of Cooperation was signed.
✅ At the meeting, representatives of 15 enterprises active in the field of mining, S. Tsogtgerel, TNBD of the Ministry of Internal Affairs and Communications, B. Buyannemeh, Head of the Ministry of Internal Affairs and Communications, B. Buyannemeh, Head of the Ministry of Internal Affairs and Communications Ts. Uranchimeg, Head of the Evaluation and Audit Department G. Enkhmenh and other relevant department and department experts are participating.
COOPERATION IN THE FOLLOWING DIRECTIONS WITHIN THE FRAMEWORK OF THE MEMORANDUM
📌The parties will work together to develop responsible mining by improving cooperation between the public and private sectors in the mineral resources sector, support the "Billion Trees" national movement, improve the implementation of environmental laws and regulations, and fight against illegal mining;
📌Parties to organize joint meetings and discussions on environmental issues facing business activities in the mineral resources sector;
📌Improving and renewing the legal framework of the environmental sector, developing a draft law, and incorporating private sector proposals into it;
📌The Ministry of Education, Culture, Sports, Science and Technology shall cooperate with the Ministry of Education, Culture, Sports, Science and Technology to submit and resolve suggestions and queries from its member organizations;
📌Organize meetings and events to protect the legal interests of investors in the mineral resources sector
📌Organizing multifaceted events aimed at making the participants of every aspect of society, such as local citizens, civil society organizations, etc. aware of the impact of the mining industry and the environment, the laws and the actual effects of the environment industry,
📌Parties can assist each other in their activities by exchanging information related to their activities;
📌Parties will support each other and cooperate in inter-sectoral projects and programs.
Mongolian National Mining Association