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1) Well Funded - Over £6M in the bank and well covered for operations
2) Land Access - Special Designation should be "fixed within the next 1-3 months" as confirmed by the Minister of Mines in Oct, hence anytime within the next approx 6 weeks.
Some detail there - the previous delays have been due to the Govt looking to resolve the issue at local level and in line with new legislation introduced in 2017. They've now moved away from that position and are involving themselves directly, hence the Mining Minister's comments. Mike Buck, being in direct contact with relevant parties, expects it to be anytime now.
3) Timeframe for Heron - Chinese workers back from holidays in March/ April but many will be staying the Winter in Mongolia, so a good chance to get the Heron Workover commenced as soon as the Special Designation comes through, anticipated within the next 6 weeks.
Velociraptor - potentially "transformational" for the company AND country. $1.5-2M, high impact / low cost well. All permits & equipment in place, FULLY FUNDED and ready to drill in late Q1 2023 (or early Q2 latest).
4) Contracts with drilling contractors on very favourable terms to Petro Matad, as per the presentation.
5) Renewables - Advanced stage discussions for an advantageous JV deal, with talks expected to be concluded very shortly.
6) DQE deal well advanced and highly advantageous for major scaling up and realization of Petro Matad's potential, with massive shareholder value by extension.
Everyone should listen to the presentation themselves, if only to confirm the above points independently and circumvent the angst that many are going to now feel, having sat out and continued with their quite sillly commentary on the CEO living abroad, being corruppt or whatever inane fantasies they involve themselves with.
The points discussed in the presentation are the hard investment details that the investment should be assessed on and not the ramblings of 'BB pirates'.
Petro Matad now have a massive 2023 set up, with multiple Newsflow items and very major shareholder appreciation built into that.
Make your own choices based on the hard investment case.
Regards.
*Note: Mike Buck stated we were WELL FUNDED for Heron Workover AND Velociraptor, many of the expenses already having been covered with £6M STILL LEFT after that expenditure!
FA in different name!
Slightly amended version -
A lot of salty posters having been badly caught out by the excellent presentation yesterday.
Refer to the post yesterday at 20:23 and independently assess its validity against the troll posting, by watching the Presentation yourselves.
https://www.lse.co.uk/events/
The 'somebody in government' referred to by one troll is actually the new Minister of Mining, who'll be the one signing off the Special Designation!
As Mike Buck stated and being in constant comms with the relevant departments, he expects that "any day now".
MATD can now be expected to release multiple news releases over the coming weeks and most of us can anticipate a major price Re-rate into double figures, moving through Q1 2023, as, Special Designation Velociraptor, Heron, DQE & Renewable contract RNSs get released.
To confirm, Velociraptor has all permits & equipment covered and will be drilled in Q1 2023, AS WELL AS the Heron workover, with all the Newsflow preceding that.
The trolls desperately posting after last nights presentation will be the first in line to buy this morning I suspect ;)
Things for MATD holders have just got a whole lot better.
Master82, I'm glad you see that as the 'only downside' here.
To clarify which you can do yourself by listening to the presentation, most of the equipment has been procured & paid for.
The company are in a very comfortable cash position and in no need of any sort of raise.
We also have DQE in the frame for scaling up ood and effective offtake elements within that discussion.
The question of any raise us a mute point.
To reiterate as many seem incapable of watching the presentation for themselves, MATD are doing BOTH Velociraptor AND the Heron workover
ie PRODUCTION & EXPLORATION and all paid for!
I suspect you'll be buying first thing despite your concerns ;)
Regards.
Is the cash position "comfortable"? They have spent 4 million of the cash raise plus whatever they had in the bank then. If they can burn through that in a year of doing "not very much" how much more will they need for new drillings/pay-offs to the locals/involvement in renewables?
//We also have DQE in the frame//
Nothing is signed with DQE
P , thanks for posting, much appreciated. ATB
SP 2.30 paid
They have $6m so this Will obviously not be enough to drill the wells and cover all admin costs for the full year, a placing around 2p would be my guess
Please at least watch the presentation before commenting. Its linked to for convenience.
Most of the equipment has ALREADY been procured and in country with Heron & Velociraptor costs covered.
Mike Buck has expressly stated that they're in a very comfortable cash position when asked about the the possibility of any raise.
Velociraptor has all permits & equipment ready to go for operations.
The 6 Million is more than enough and especially for operational commencement in Q1 2023,.
Bizarre references to phantom placings & hopes for prices are deliberately ignoring what's actually been stated in the presentation and certainly not factoring in likely price appreciation from Newsflow before any operational activity.
Regards
What if MATD doesn't get LP for Heron? Is MB starts exploration/drilling?
I see the derampers are out in force today......
//I see the derampers are out in force today......//
Thanks for the observation - very perceptive (but not very useful)!
What Mike says and what Mike does are two different things, be back sub 2p soon enough
//Thanks for the observation - very perceptive (but not very useful)!//
Sounds like every comment you put on this board....
Hmm well when CEO’s do a promotional drive it’s usually as they want to drum up interest for a raise… each Heron drill costs $2m and he wants to do 3…. Wildcat drill costs $2m… all this can’t be paid for with only $6m. A placing May not be a bad thing 2p would be a good price in the current market
Are you just ignoring the dqe agreement for the drills for heron??
What’s the agreement with DQE… there is no agreement yet and these discussions hve been going on all year
A prominent investor on Twitter has sold out this morning stating city rumours of a potential placing at 2p as his/her reasoning no smoke without fire…
Next year might be just another exploration wit20% chance if LP not granted!
So since the agreement is only in 'final stages' with advantageous provisions for for matd, you're viewing this as no agreement at all?? So you're purposefully ignoring this to make the cash position look worse to try and deramp the stock?
// try and deramp the stock?//
Stating the bleedin' obvious is not deramping! DQE have other fish to fry besides PM.
So you're saying that a company who is in final stages with a contract, cant complete the contract, purely because they may have other dealings aswell.........wow you guys are really grasping at straws
MATD should NOT spend a penny on locals/ exploration till LP granted, period.
They are spending money for local volleyball! Renewable! Cleaning the land!
That I s a serious joke.
//MATD should NOT spend a penny on locals/ exploration till LP granted, period.
They are spending money for local volleyball! Renewable! Cleaning the land!
That I s a serious joke.//
Damn right! PM should only be putting money back in from profits it makes by selling oil (not from investors' pockets). Until then - zilch!
If money spent on charity from investment kitty now then there wouldn't be any incentive for locals to agree with LP!
That is a wrong attitude/ course.