Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Its not been 4 years at the government level.
It was left with the locals up until September 2022.
Only after that the process of granting special licence from the government has begun.
Don't panic it will be given
I guess MG would have been run much more efficient if run by BB.
LP has been waiting to be signed for 4 years and still waiting!
“Lucky Govt & economy not run by BB posters lol ;)”
Love this. I mean this government who can’t even get a “simple” LP sorted and issued…
Anyway WOS, you said the jump from 4.8p go 5p was the share price breaking out. Now it’s back to 4.8p does that mean it’s had a breakdown?
😂 some of you negative posters surely do know how to come up with some theories and on top make everyone involved also crooks,
Simple read of RNS and that what's actually happening lol!
We are going through and the first to go through new goverment rules and legislation for being awarded license to exploit,
To some of these mugs on here, why would the goverment tender out new licenses to new countries, why would the goverment be doing so much work around our licenses
Why would they even fly out with buck to IOM and waste their time and money ,
Guys stop the dumb theories and just plain and simple follow the RNS, because nothing else is happening unless we are told via RNS
The reality is that we have no LP and we are going for spud soon!
We might lose another $2m after another with no income.
Above all MB seems just relying on sending letters to MM, that is all and he is as mute as always has been.
I give you clue
If you look at Govt policy statements & economic forecast & Vision 2050 with energy independence report will see what Govt want.
Also will see how wide economy fit with revenue generating from mining / oil. Will understand how Mr BP comments make me laugh when he say delay to keep all ol till refinery built.
Look at bigger picture of new oil blocks & foreign investor drive with other comment from Mr Mike Buck & MATD strategy.
Also
ENERGY INDEPENDENCE MORE THEN JUST OIL
Think recent foreign affair minister trip to Beijing and talk if China investment DIRECT into Mongol Renewable sector & energy export to China
More here then checking gas meter in UK to use as example sir ;)
Very good reason I build up holding here all time.
Be happy & well inform :)
MG has already given explotation license. That means everything from MG and its ministries is ok. If that were the case why ministry after ministry needs to review the license that they have already passed? Why ministries haven't thought of reviews in the last 4 years? It does make sense! I agree that refinery needs oil and it take time Heron full production. But again national importance interpretation varies from MG and us shareholders.
Masters... who said it won't be granted?
I believe the field will go into production when it suits the government.
I was a conveyancer.
"The fact is we all know the government want the oil for domestic purposes"
Mr CAC
Please explain this & please reference this with revenue loss in meantime from delay in production?
Also why your gas meter checking job link into Govt economic policy & why they take direct control through MMHI to bypass Local control?
I can see who have really do research here & whnundestand what actually happening.
Thank you
What people need to understand is oil refinery need oil to run the whole process efficiently.
Oil refinery will completely change the economy of Mongolia and will become independent from Russia.
Oil refinery doesn't just produce fuel it also produces other chemicals and plastic based materials which has a big role in boosting economy.
So if LP is not going to be given then its a big loss to Mongolia
Well masters you think it just a matter of some paperwork being signed off.
I don't.
I see it as a matter of a proposal to support the field being designated a special purpose area, with the government looking for evidence of support from numerous government departments and mindful of local opposition and that the agreement will be in opposition to expressed local wishes and votes on the matter.
Hence explains our different risk assessment I guess.
//Think National economic concern & Central Govt strategy different from gas meter issue Lol....//
Stop being silly and trying to gnore the point of the example.
If this matter was so important it would be sorted by now.
You over estimate the importance/urgency. The fact is we all know the government want the oil for domestic purposes.
Agree mr Master.
Think in next few wek as best estimate & from logic in post 07:26. Submission could already be prepare fir Cabinet. Do not know but not long from logical estimate
Now I enjoy beautiful day & wait for great news :)
You mean lose production revenue in this time from PSC to save some oil lol
Lucky Govt & economy not run by BB posters lol ;)
The whole idea of getting a LP is to access the field.
Survey has already been carried out . Just waiting for paperwork to be signed off.
The project may be of "NATIONAL IMPORTANCE" as you keep banging on about but surely that's tied in with the refinery under construction rather that the prospect of selling some oil to China?
Haha was about to say the same.
Think National economic concern & Central Govt strategy different from gas meter issue Lol
Be happy but sensible :)
Masters , amongst other things I used to deal with Deeds of Recrificatiom for land issues.
Simple example. If a conveyancer has failed to provide access to a leaseholder to read their own outside gas meter on their own wall, and the other leaseholder doesn't agree to allow access the first cant...
End of. It then costs thousands inc possibly compensation to rectify
So talk of a few yards is irrelevant.
Its not the DISTANCE it's the ACCESS OVER that is the issue.
Would you allow your neighbours free access over the bottom of your back garden on a daily regular basis to carry out noisy activities?
Good example where research help to understand this thing.
- Change in law 2017 to give local Govt more power in decision. Local govt decide not to give land access
- New pro Business / Foreign investment Central Govt in power with lot educated abroad
- Mr J Gan ataar Mining Minister say last Oct will "get all sorted out in 1-3 month". Some people say mr Mike Buck make this up. Sensible person (no walnut lol) will know mr Buck make this in public statement so cannot make it up or Minng Minister will question this.
- Look like Mining Minister give last chance to do at local level but this did not happen or "1-3 month" would be true.
- Mining Minster go into action now. First transfer process from Governing body MRPAM direct to Ministry Control MMHI
- Make Block XX operations 'Project of National Importance', Make process as Special Certification & put direct to Cabinet for signing - NO vote by Great Kural, NO vote by Local Govt.
- First direct mention of documentation process from MMHI in 3 April RNS. By 22 May we know all documentation was complete & READY for submission to Cabinet BUT Ministry of Construction & Urban Development want to take over process as Ministry responsible for land access.
Why? Probably as Project of National Importance it is feather in cap for Ministry & future political ambition of dept members.
- This transfer could have been few week before RNS & can think other Ministry opinion will not change in this time. Think reasonable if we look at 6 week before (if we take RNS to RNS & understand have not complete timing fact but Ministry positions sane) will be few weeks NOT months for Cabinet submission.
Also understand now project status NATIONAL IMPORTANCE will not be anyone who will want to stop this. Status for reason to get Special Certification and with support of Govt.
If you understand what happen with Economy & new Govt this become obvious.
In meantime have countdown to potential massive V1 operations & expect Special Certifucation RNS in next few week.
This is with logic with fact known & line up with mr Master who I also know do LOT if research. No one have ALL fact but think logic best I can do & happy to invest for this.
Enjoy this good day today & think VERY good time coming :)
If YOU are invested here then there must be a reason . Why invest if you believe LP will not be given.
Its first time MG is facing this scenario and the reason why its taking so long.
We are all here because we all know PM will start making money soon
I didn't "claim" nuthin! (unlike some on here)
….just like to put tick myself up the rampers rankings by saying …. I wouldn’t want to be out over the weekend and we are surely days away from double figures here ;-)
Rookie. The latest stage (special purpose certification), which is for central government departments to consider and submit to cabinet their responses to the proposal to certify the XX field as a special purpose area, seemed to have been initiated around beginning of April this year.
It's not clear how far the matter progressed before the Ministry of Construction and Urban Development declared that they were the body responsible for land certification matters, but the timescale for reference is early April 2023 to 22nd May.
How long it will take to repeat the paperwork and submit to cabinet will depend on a) that it us the same paperwork (i.e. no new matters being asked to consider) and b) if so, how far along the process the various departments has progressed with their original submissions. We simply don't have that information.
Also please note it is a PROPOSAL to grant special purpose certification (albeit one supported by the original department that had started the process). The outcome us not therefore, as far as ai can see, a foregone conclusion.
So hopefully same paperwork, just a simple resubmission and the propsal is supported and cabinet sign off, but don't believe anyone who says that this is guaranteed.