Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
With respect I don't agree Professional. It is personal with the Dornod Governor.
I am also now convinced that the activists are paid by him.
How can three well fed and well manicured individuals survive living in very nice city apartments but with no discernible job to pay for it or stopping them causing mayhem many miles from home at the drop of a hat? Then the fb storyline of them 'storming their way in' to the governor's office, resulting in a professional looking televised interview in response? Completely staged imo!
The single positive in the RNS
The Ministry for Economic Development, which is in charge of stimulating foreign investment in Mongolia has been very active on this issue and is preparing a submission to Cabinet to attempt to remove the obstacles to completing the process.
How can the government allow one man, operating at a lower level to government, to thwart their will?
Masters, instead of calling for an online poll regarding Mike Buck, how about you twittering David Cameron? You have a good grasp of the situation and are on twitter and could have some actual influence if you contacted him about Petro Matad's plight
So to be clear. Plan B (special purpose certification) is being stymied by the governor
Plan A is being stymied by the activists. Plan A has NOT been finalised (Key condition in UPPER CASE) and may not be.
"We will buy ourselves a long-delayed operating window with the local approval for 2024 IF WE CAN GET IT,
but we do not want to go through such a process every year.
Well David Cameron is on Twitter so maybe someone ) could contact him? Master would you be interested as you post on Twitter about Petro Matad?
I'm not suggesting people bombard him though. He'll just think we are a bunch of th!ck thugs and it will do more harm than good!
What will be WOS's reaction if next week we are told the LP Agreement is yet to be signed with Matad Sum?
I predict another "good news any day soon" response.
it's quite unbelievable how three people (the activists) can run the show with everyone ***** footing around them. no doubt they will be given a piece of paper with a stamp on andet out. that's all they seem to achieve in mongolia.
meanwhile we wait.
I can't help wonder why the governor is giving so much air space to the activists? Now he is going live broadcast after they stormed his office instead of drawing a line under it.
Call me suspicious but I've long wondered if he gives them money to go and agitate, so that it becomes a media story, creates a bit of noise with the young ones, which means he can then have an excuse to delay matters.
The comment regarding PM is "when you want to join Magnai trade, the hands and legs of the hujaas (pejorative word for the Chinese) that was closed by the government, Petro mtad kicked out the English Company. Get out of here you hoes"
I've watched the video. Thanks for posting Master. A significant number of comments are calling into question all the shouting and other aggressive behaviours, e.g. they are seen clearly shouting at ordinary citizens, so hopefully their tactics are starting to be questioned by some.
I wonder what the governor said? Hopefully he put forward reasoned argument to their narrative, which the activists have then broadcast. Ok the activists aren't ever going to change their views, but their audience might.
In summary a company can't simply choose when it discloses or to save news up for one big RNS as there are regulatory obligations to disclose information to the market.
RNS requirements:
RNS is both a regulatory and financial communications channel.
Companies need to fulfil domestic and international regulatory obligations, communicate with shareholders, analysts and institutional investors, at the same time explaining your company news to the market.
RNS helps companies and their intermediaries fulfil their UK and other global regulatory disclosure obligations in the most efficient way possible.
Thanks for your reply WOS.
My interpretation is that Petro Matad is HOPEFUL that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area (what you call plan B) , will not disrupt in any way the District's approval process, (what you call plan A) BUT WE REMAIN VIGILANT (i.e. they have an expectation of an attempt to disrupt "plan As" approval process).
This is why Plan A cannot be interpretation as a done deal (until/unless confirmed).
WOS. Could you please specifically comment on this comment (below) from the RNS and what your understand MB is trying to say to us?
M B said
WE ARE HOPEFUL that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, BUT WE REMAIN VIGILANT.
Another thing to consider. Looking at the activists' videos, the weather is clearly a lot warmer. In fact, it looks 'drill ready', and yet we have no news updates. Mike Buck may like to put out a large single RNS, but the company is obliged to RNS anything that may have a material affect on the share price.
That said, things could change any minute.
And whilst maybe, technically, the company doesn't have to RNS that the aforementioned agreement has been formally signed, its a pretty important step and considering the extended delays that long term shareholders have had to endure, it would be extremely inconsiderate if the company to not to do so at the earliest opportunity.
Therefore, my view is that currently, as of this moment, the matter is not resolved.
This bit. We await an update.
We are hopeful that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, but we remain vigilant.
We dont need to guess. The situation was spelled out in the RNS un March. No update since.
Operational Update
Block XX local level land use approval: In light of the ongoing delays in the completion of the process by which the Company's Exploitation Area is being confirmed as State Special Purpose Land, the Company has engaged with the District authorities to secure local level approval of land usage. At a meeting of the Matad Citizens' Representatives Committee at the end of February the Company's application for land use in 2024 was approved. This approval covers all the areas in which the Company wishes to operate during the year. The approval means that the land use agreement can now be prepared and signed by the District authorities and by the Company and it will allow our planned operational activities to go ahead whilst the Special Purpose Certification process is completed. We are hopeful that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, but we remain vigilant.