Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Goldmine
I will ask Dashka from MT where all the rigs are currently in Mongolia and what utilization looks like over the coming months.
I am in UB the end of May so will be easier to get clarity on border logistics and rig procurement.
I recognize the difficulties of Matads task and executing it successfully in Mongolia.
Can we however have from the board some assurance and probability of delivery for 2022. Establishing a baseline case would give the board credibility and also better visibility for shareholders.
I was recently in a meeting where a senior CEO said to me he wanted all facts on the table where he could see them and not under the table.
It was a refreshing conversation.
I believe Matad do not want to table all the facts. The RNS are intentionally written to allow interpretation of the facts. It’s clever but not uncommon.
We still have no dates or commitments. We have an indication of what may happen, what the board would like to happen, but no hard facts to demonstrate their strategy can and will be delivered in 2022.
I would rather the board set firm dates, work to deliver those dates and deliverables, report regularly, and if they fail provide reasons why. It’s OK to fail if the situation means a deliverable simply could not be met.
At the moment we have a lot of nice words, but no facts.
Maybe Matad should have a chat with the Justice Minister ?
https://twitter.com/khnyambaatar/status/1516065889208123405?s=12&t=oaYGtNf63SjCSgsM1zquFg
https://twitter.com/khnyambaatar/status/1515692282837667844?s=12&t=oaYGtNf63SjCSgsM1zquFg
Covid impacts on Mongolias major projects began to ease in March.
2025.
See below.
https://www.linkedin.com/posts/khulan-ganbat-59604b50_mongolias-first-ever-oil-refinery-to-be-activity-6924526841063989248-eEUw?utm_source=linkedin_share&utm_medium=ios_app
Note comments from Marc.
Hi Gold Mine.
It may be in a different part of Mongolia but the challenges would be the same. My point is it’s how you manage the challenges.
If successful the result is your social license to operate is not affected.
Can I suggest this is what we should expect and should be receiving from our management team.
https://tmkenergy.com.au/wp-content/uploads/2022/05/02515623.pdf
These guys certainly seem to have their house in order.
If only their older and supposedly wiser cousin, Matad were as engaging.
Jimi
I found your research both factual and helpful.
Many will not understand the importance of how licenses are granted, the stakeholders you have to satisfy and the continued engagement required.
With the drilling season beginning late March one may of hoped Matad were fully engaged the beginning of January this year to ensure what is a fluid process remains well managed. They may well of done this and all may be fine. However the timing of last weeks events suggest otherwise.
What I find slightly disconcerting is our ASX cousins are already into their drilling programs this year without local protestors or ESG problems.
Let’s hope Matad post a positive RNS in the next few days.
Even if the noise regarding the Soum issue is not a strategic problem for Matad it is now information that is in the public domain, and on the face of it material.
I believe Matad should address the issue.
If they are engaging with local government and still having difficulties they maybe should ask for help.