Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Looks like this year a waste. Mb can't even get time frame right for equipment delivery.
Everyone taken for a ride.
Just wondering why after 3 years we obtained the Red Deer land permit easily enough why the hell are they encountering these problems still for Heron???. RNS Operational Update 20 Aug '19
20 August 2019
Petro Matad Limited
Operational Update
Petro Matad Limited ("Petro Matad" or "the Company"), the AIM quoted Mongolian oil explorer, provides the following update on the Heron-1 and Red Deer-1 wells in Block XX, eastern Mongolia.
Further to its announcement on 14 August 2019, the Company reports that all processes for obtaining the land permits for the Heron and Gazelle well sites have been completed and issuance of the permits is waiting on final signature by the local governor. In the meantime, operations are continuing as normal at the Heron well site and based on current performance the drilling and logging of Heron-1 are forecast to be completed around 9th September.
Operations at the Red Deer location are proceeding as planned. The well has reached its intermediate casing point and preparations are underway to drill the next hole section. The Company confirms that the land permit for the Red Deer well site has been obtained.
Further updates will be provided in due course
Reading the fb posts of a number of them, Mongolians seem to be an ultra nationalist lot, particularly resource nationalist. Maybe this nationalism/anti foreigner tendency has something to do with it?
e.g. Rummaging around I came across this. https://www.theguardian.com/world/2010/aug/02/mongolia-far-right
Environmental neo nazis
Ariunbold Altankhuum is the 40-year-old leader of a Mongolian neo-Nazi organisation named Tsagaan Khass, or “White Swastika,” which operates from an office behind this lingerie store in the capital Ulan Bator. The group, associated with activities like shearing the hair of women it accused of consorting with foreign men, has recently changed tack: it rebranded itself as an environmentalist organisation fighting pollution by foreign-owned mines.
https://widerimage.reuters.com/story/mongolias-environmental-neo-nazis
Jimi, that's one of those very reasonable questions that needs to be answered by the crooks who run the company and their rogue boss who constantly lies and misinforms us. And since they always respond to our individual appeals with general phrases and formal replies, I suggest that you or Hamm (you should agree on which of you) prepare a draft collective letter (which about Hamm have mentioned recently) and post this draft here on the site. I would draft such a letter myself, but English is not my native language and therefore you will do it much better, especially Hamm - the author of this great idea. Please agree which of you will prepare such draft, and then which of us investors will agree with the text, then they will be able to copy it and send it to them by e-mail. Depending on their response, we will decide whether we will contact the SFO for prosecution this leadership or not.
maybe Mongolians antipathy towards China is a result of what happened to Tibet
China has declared "the Western World" (and its democratic values) as its adversary. That clearly - and unfortunately - includes Taiwan. I truly hope this chapter does not result in a conflict as we are seeing now between Russia and the Ukraine. God help us.
Yep, Ma Turd i'm afraid.
Manro, I think if everyone puts his/her questions as bullet points, then we would have a list of questions shareholders have and would like to be answered. These questions can be reposted here and at the same time emailed to the company. This would be more constructive. As I said I am sure MB would love to have H1 into production. He surely has made lots of mistakes as well.
The cash raise I expected before Xmas may be out the window with the current SP. Watch this space.
Hamm, perhaps it's best someone takes the lead and produces a list of questions and then others can post additional questions to add to the list, otherwise you will be getting loads of duplications as I am sure we are nearly wanting to ask the same questions
Doz, everybody puts his questions. At the end sb makes a list of that. Then whoever agrees with the final list can copy and past it here and email it to MATD
B/P, MB and the board will probably get share awards before the cash raise don't think they've had one for a while. GLA
Hamm, you know very well that each of us has written letters before and asked many questions, but never received any satisfactory answer, but only formal responds. That is, in fact, they ignored us and we simply became for them some kind of herd of sheep, which can be ignored. That is why the time has come to show that we are the owners of the company and they are our employees. So, our opinion should not only be considered, but taken as a guide to action. And for this we must act in an organized manner and as a whole, otherwise we really are sheep that can be sheared or slaughtered. Therefore, as Dozzawba writes correctly someone need to compose and post here a draft letter with all the main questions, and then each of us can add our own questions. Having received the answers, we summarize everything that they answer and, depending on this, decide whether we will apply to the SFO or not.
Jimithebrush, would be interested to know your opinion in this matter too, please respond.
Just a thought would it also be worth trying to contact Petrovis ref the treatment of investors and our dissatisfaction. They obviously are also investors and their CEO is chairman of Petro Matad.
If some one who has sufficient experience in writing formal/legal draft please do. NO need to be too strong language/ wording please. We need some kind of constructive conversation at this stage if possible.
Best,
Hamm