Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Doc
I cannot recall any positive investors here getting concerned or worried. But you keep bringing that up !!!! Bit frustrated, may be but not worried.
As for this new "curious" fella, Blimey !!!!
Seems to be going in reverse. About 3 months behind. Need lot to catch up here. Things are much more Advanced stage now.
If it drags on too long they won't do the Heron workover/startup in the winter so it'll be next April before it gets going.
The trouble is ID78 is that this company has failed to deliver for so long. It got the expoilation licence nearly 2 years ago and didn't seen to know there were any access issues. Its really poor.
Then the promise of 1-3 months from October (being January).... and we know who turned up in January to ramp ...
For info I was once one of those that posted endless FB activists posts looking for info but now she doesn't even mention us now. The only positive was that FU England post... even the glossy mag just refers to block XX and doesn't put our name to it.
Same posters that used to love Fair Analyst for saying wait for and listen only to the RNS are now the same ones who don't want wait and listen for an RNS and want speculative drivel.
Have a good evening
ID78 - firstly, everyone is guessing.
But why September? Well:
- previous track record of Mongolian government working slowly.
- yes, things have apparently changed, but this declared "matter of national importance" is already nearly a month old...doesn't seem quite so urgent, does it? Maybe let's dial 999.
- we were told 1-3 months from some unknown date in October 2022, so latest end of January. Again, a deadline/timeline missed.
- "circulated to other relevant ministries in advance of submission to cabinet to" - as Curious says, presumably by having to circulate to other ministries in advance says to me that these also need to give it their sign off, otherwise why not bypass them?
- MB tries to dress things up in a positive way, but never delivers. So I take his operational update with a pinch of salt.
If it is September, so be it. I'll continue holding.
Its probably worth a relisten. Which I admit I haven't done yet but I will now to see if he left any ambiguity in there.
Only problem mr Ninetoes. He cannot misquote Mining Minister in public statement.
Mining Minister know what he say so mr Buck cannot invent this or he will not be happy at all lol
Curiouser- there will be time limits. It won’t be sent out and they sit waiting open ended on responses.
There will be a timeframe to raise any objections, my guess a month. This could have been circulated a month ago. We know worst case 3rd April the paperwork was circulated. So it’s getting to the business end now.
Doc - September. Please share why September. Sound reasoning please rather than a flippant comment.
Read post mr Sneaky Curiouser ;)
Be Happy all genuine holder who do not have to worry about catching out by RNS :)
Its not overly optimistic to believe its coming soon. The minister has assured Mike Buck it will be sorted and we now have evidence that he has backed up this promise albeit outside the timeline stated. In my opinion Mike Buck was telling porkies about the timeline to prop up the share price over the winter before his placing. Remember he also gave the impression Velociraptor would be much sooner and even mentioned winterized rigs. The timeline was a ploy to support the placing and it worked. I believe the assurance was given but perhaps without the dates MB stated and we are now getting truly closer.
Well it says both!! (which says a lot about the Company!)
So if its with the departments, how long will that take? And still the same question as in will it be queried/amended .. and what happened between October and January to delay matters.
//Now April 3 RNS have ONLY Special Certification and can see very advance, Urgent & ready for Cabinet signature for LP Project if National Importance to be RNSd//
Correct. Central government is the route now and they class this as project of national importance …
Best guess for this to be signed off and LP delivered to us is now around September!
Reason did take longer then 1-3 month have already been explain and why Feb RNS say Special Certification in parallel with Local approval.
Thisxway last chance for local vote but now they have been bypass. This is very clear from all evidence put on BB if reader is honest & not devious.
Now April 3 RNS have ONLY Special Certification and can see very advance, Urgent & ready for Cabinet signature for LP Project if National Importance to be RNSd
Happy I hold MATD & not worry if I miss RNS :)
First everyone read RNS
All Documentation which relate to Special Designation Land Permit have been complete in form / structure for distribution to all relevant Ministries.
Official document for signature which become part of law paperwork have to be in correct form. This is not structure it amendment
This is same for GOVT document to UK Govt, China Govt, Thai Govt & other
This was 3 April and can expect all ready for submission fur signature now.
Before Sneaky Curiouser try to MISKEAD and say Great Khural full Parliament vote needed. This is after he have been shown clear proof ONLY Cabinet signature needed
Now you know what we deal with when Sneaky & selfish Curiouser get involve
Be happy but honest :)
Thornogson. It was 1 - 3 months in OCTOBER (so it was due end on January)
I want to know what has happened to stop it being fixed by the end of January and I want to know if the paperwork has yet BEEN prepared and sent to the various departments.
1-3 months.
So that would be March then.
It's taken longer but we've been updated that it is happening.
If we hadn't heard anything other than further general assurances I'd agree with you.
We know what they're proposing to do and we're waiting for it to happen and to be informed of the outcome.
We're waiting. But not in the usual Matad endless news vacuum way but for a very specific process to conclude that's currently working its way through the system.
I'm comfortable with where we are and my current holding
And what does it say under the section
Block XX exploitation Licence?
No. Here is it... it is BEING prepared (not it has been prepared)
3 April 2023
Petro Matad Limited
("Petro Matad" or the "Company")
Operational Update
Petro Matad (AIM: MATD), the AIM quoted Mongolian oil company, provides the following operational update.
Key Company Updates
· The Velociraptor 1 well is scheduled to spud in June 2023 as soon as the rig is released from its current programme.
· Documentation to certify the Block XX Exploitation Area as special purpose land is being prepared by the Ministry of Mining and Heavy Industry for submission to cabinet for approval.
‘Block XX Exploitation Licence
Documentation has been prepared by the Ministry of Mining and Heavy Industry and circulated…’
HAS been prepared AND circulated. It’s in the RNS.
The paperwork is BEING prepared.
BUT FIRST It has to go round numerous departments (possibly with clarifications and amendments requested but I don't know... That is my speculation and concern) before it is submitted to cabinet.
Curioser - I’d stick to RNS’s.
The rest is marketing material paid for by companies and enthusiastic CEOs.
//PM Rns paperwork ready for signing 03/04/23//
Being persnickety- documentation to certify the area as special purpose land has been prepared by the MMHI and circulated to the relevant ministries ahead of submission to the cabinet.
Anyway, my point. The paperwork will have been sent out and with a time limit to respond / raise any concerns or issues. My guess …. 1 month. So this month is up soon (we don’t know the exact date the paperwork was sent out (3rd April at the very latest).
Next step once the time limit is up is it goes in front of the cabinet….
ID78 .... I suggest you have a listen on You Tube for "Mike Buck, Petro Matad CEO updates London South East on Velociraptor drill and Heron 1 land progress".
Its the Investor webinar dated Dec 6th 2022.
Particularly listen around 10 minutes 30 second to 11 minutes into the video. where Mike Buck says "the ministry of mining said he would fix the land certificate issue within 1 - 3 months"
Don’t forget we have had Chinese ridiculous lockdown policies which crippled Mongolian movement
What's at the back of every holder's mind is Petro Matad's shocking history of non-delivery on Heron once the oil was 'found'.
To be fair it wasn't their fault but they didn't appear to aware of the necessity for local permits to be allowed to proceed and even when they did underplayed the difficulty and time that it might take to sort, perhaps because they didn't initially think that it was going to be an issue. It was then unclear how the situation might be resolved.
It's been a long and painful lesson for them and for investors too.
Communication on this matter is now much clearer with a plan in place to resolve the situation that investors are fully aware of, we're just waiting for it to happen so that Heron production can happen hopefully later this year.
No more unknown unknown, just known knowns. Which is a lot better.
The only unknown unknowns we have now are the exact date of the Velociraptor spud and if there's any oil there and if so how much. So the usual ones for an oil exploration company then.
All moving forwards as per the RNSs.