Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Been a while since i posted here, as we know the oil refinery got delayed 1.5 years due to Covid. What is needed is a second oil discovery by anyone in Mongolia. Clearly the president himself is not prepared to commission Heron at this stage, because they want supply for new refinery due 26/27 as i have ALWAYS said.. However, operation of the well, could well be done to test waters for production. A year or two before refinery is ready., is minimal as they believe 10 year worth of production is within Heron. I think if the gov can get in on some form on top slice for allowing this to go ahead before refinery commissioned it would be signed off within a week. The governor is the puppet to the president. Elections first, then depending on who is Prime minister, and my feeling is repeat term......will dictate pace of this progression. No movement any day soon, no fundraise as confirmed in AGM, but when this moves, it will go 20p quickly on Mcap intrinsic value alone. Ive been here 5 years.......and il wait until the golden egg is finally laid. GLA and WOS I'm really not bothered about repetitive posts.
I don't remember "no fundraise" ever being confirmed in the AGM. I do remember MB talking about fundraises and if there was one then they would make it as palatable as possible for the normal investor...I also remember him saying that we were pretty good for cash through to 2025 and there may be other means of funding if/when required. ..but I don't remember hearing the words "there will be NO fundraise". What minute of the recording was that said?
Petro Matad look at 2 New Oil Blocks which part of huge already proven & producing basins.
Block XX will need to be in production to develop these (unless part of foreign JV).
PSC losses to Central Govt until Block XX in production.
Can see how pieces fit together to service Refinery and also how does not make sense at all when people say 'Govt save the oil for refinery' lol!
When you can see bigger picture, strategy, developments - not difficult investment to see (imo) 🦉
I agree with WOS in this respect that BXX/ Heron production operations income makes matd to be able to work on other new blocks with proven oil as well. MB rightly ( in this case) said he wouldn't sign the new blocks contract (MG can mak it ready but shouldn't expect us to sign). Mind you Heron1,2,3 may take a while to have full production. Time will tell.
I agree with WOS in this respect that BXX/ Heron production operations income makes matd to be able to work on other new blocks with proven oil as well. MB rightly ( in this case) said he wouldn't sign the new blocks contract (MG can mak it ready but shouldn't expect us to sign)till we have LAND USE signed. That may push MG in a way.
Mind you Heron1,2,3 may take a while to have full production. Time will tell.
I do your point here - commission Heron and were wildcat for new blocks, but its sound ultimately like it plays into the delays tactics and drawn out process of gov playbook. Its all, "New litigation" "Amendments to clauses that haven't been used for 30 years"....Watch once the refinery is up, projects will be signed off within a month and any "Activist" will be bulldozed that afternoon. When you have the India prime minister arriving next year 2025 for celebrations of oil refinery development and 70y anniversary between Mong & India, how embarrassing would it be if no oil to feed? I reckon the mong don't care who has the license to take on Heron....they know its there, they move at there timescale and that is evident....hence the 5+ year current wait.
I think MATD need expansion and other options. This $hit or bust approach, all in on Heron is madness as we are held ransom to others movements. We need look at drilling elsewhere and put the boot back on.
Patience all, the locals are with us, it's also national company, we are getting the landuse agreement then on to production, yes taken along time but it's happening and when we start going it will speed up,
Those scare mongering about share price need to understand it's already cheap with what's coming yes production and maybe multiple wells and on top getting a foot in the renewables sector which once going again will be huge for matd
Great share, poor management but hopefully it will drive itself once we get everything running
Cyber - if it's definitely happening, why mention legal recourse?
Buck is using big words and won't go that way, it's to keep the kids happy to say daddy has power, buck knows this will add another 5 years if he did and would be a mistake, doc sometimes you need to understand how business works and empty threats are made to hold your position,
Looks like the Mongols are stuck with the Chinese.
No investors found for oil extraction after doing all these tours to find investors.
I wonder why.
Best thing MB can do is take them to international court and get every penny that he has invested in Mongolia.
" doc sometimes you need to understand how business works and empty threats are made to hold your position"
LOL. I've been consistent(ly right) whereas you.... have flip flopped Hamm stylee!
Somebody has been dumping his shares in 200k,300k. I wonder sb knows sth we don't!
Anybody knows the election date by any chance?
As someone said to me earlier, MATD appears to be a leaky ship. Big sells before then whoooph, RNS drops.
Doc, do you think MB ever takes MG to court if land use not granted in a month or 2?
Sorry doc, forgot this ( ideas)is out of your league. Your forte is quoting other posters and comment!
Always some one else said!
Hamm - you are the most ridiculous poster on this board, any sane person can see that.
But as said previously, MB sounded exasperated (even more than usual) on the AGM call. I reckon he is giving it the remainder of 2024 to resolve this and if it isn't, legal action will be pursued. But legal action in such a corrupt country... wish us all luck with that one.
You make it sound like a piece of cake.
only c50% of international arbitration cases of govt v private companies succeed... and even then only part of them get their full claimed figure.
The ball buster is the legal costs... at least ÂŁ3k a day..... and rising.
Take a look at churhhill mining for example... it was supposed to be a sure thing winning their case.... look what happened. They lost and even had to cough up the other sides legal fees which ran into $millions
In fact see the various other mining/exploration listed outfits that have gone via international arbitration over the past 10 years.. you'll find it hard to pluck more than 1 or 2 that have won any amounts net of expenses.
Furthermore.... it can take more than 3+ years before any outcome materialises.. in that time... dilution after dilution after dilution... to fund the legal costs.
Think with your head.. not with your emotions.
CondorMan, who is that aimed at?
Presumably not me, given I said “wish us all luck with that one” if it does go the legal route.