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I'm still amazed that nobody seemed to raise a question in the AGM with MB about likely/anticipated timescales for the District land access paperwork to be signed off. For me it was question no 1 to put forward - but oh well....
Straight after the RNS announcing the verdict of the District Committee vote , one or two on here were saying that we would of course get another RNS ' within 2 weeks ' to confirm the sign off. Of course there was nothing mentioned in the RNS about a likely timescale, so this was guesswork based on nothing more than wishful thinking.
The issue right now is that nobody seems to have pinned MB/ MATD down on what they think a realistic timescale for the sign off might be, and we have no benchmark/comparison to know whether it is being delayed or is proceeding at a normal pace within the District administration. We did hear a District official state on social media that they are ' supporting ' MATD, which reflects the fact that the District Committee voted overwhelmingly in favour of granting the land access.
Unfortunately, the a few on here are now going into a state of outright panic, so a narrative has now developed that the governor ' must ' have put a spoke in the wheel of the District land access sign off. This despite all the noises coming out of MATD indicating that the land access is proceeding normally without any interference. Clearly it's not happening quickly enough to give us all immediate peace of mind and to line our pockets, however giving peace of mind to foreign investors is presumably not part of the thinking behind Mongolian District administration procedures in terms of land access for oil extraction...
I think this is why it's important right now to stick to known facts, and not let hysteria and unfounded speculation based on nothing but fear set in. There is no evidence that the governor is interfering with the District land access sign off, or that he holds the final word in terms of the Special Purpose agreement sign off.
Investor...the question on timeline is irrelevant as MB just doesnt know....
If you listen to AGM hé says we HOPE soon. Petrovis doesnt expect before elections...and they hope this year but surprise after surprise in this proces means hé just doenst know.
My read on it: they wait this year. If still nothing legal action which will take another year at least
Very good article. INVESTOR
LEGAL SYSTEM AND JUDICIAL INDEPENDENCE
Investors state that judges frequently avoid controversial decisions in business disputes, preferring to delay judgment for as long as possible—sometimes years.? If a decision is made, businesses face similarly long delays enforcing court orders.? In some instances, cases have taken so long that by the time an enforcement is executed, the counterparty has liquidated assets and vanished.? Investors note similarly long delays with respect to inspection agencies, such as the Tax Dispute Settlement Resolution Council, as well as with other inspection agency panels, especially those related to mineral licenses and health matters. MATAD would really need to think about taking legal action as it appears it could take years 🤔 GLA
Professional ; as time rolls by, it's not beyond the bounds of possibility that MB and the company may be informed by the District authority about how things are progressing - which might in turn make a likely timescale become increasingly more apparent. It's highly likely that the two parties are constantly in communication.
"I'm still amazed that nobody seemed to raise a question in the AGM with MB about likely/anticipated timescales for the District land access paperwork to be signed off. For me it was question no 1 to put forward - but oh well...."
I presume YOU never bothered putting that question forward then?
“I'm still amazed that nobody seemed to raise a question in the AGM with MB about likely/anticipated timescales for the District land access paperwork to be signed off. For me it was question no 1 to put forward - but oh well.... ”
As Wigster says, everyone had the opportunity to submit their questions well in advance of the AGM. But to me, MB made it quite clear that he could not give timescales for anything and cut a highly frustrated figure.
WOS, if everything is as rosy as you say then why MB said he couldn't sleep as he was so anxious?