Member Info for Dan_LSE

X.com/DanMavr/status/1994026128957206752?s=20

I am not sure, but it seems to fit the shape, what do you think?

Email from PM:

Thank you very much for your email.

We are currently planning media activity to update our shareholder base before the end of 2025.

As always, when engaging with media and retail shareholder communication platforms, we attempt to ensure we reach as many shareholders as possible.

We will certainly take your proposal of an interview with Mr. Jargalsaikhan Dambadarjaa under consideration for our engagement plans.

We appreciate your time and suggestion.

Best wishes,

Petro Matad IR

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If the interview comes it will not be immediate, which is in a way positive as it will come with news. So my effort here is done, and we shall see in due course.

Today I had the call with Jargal, who coincidentally travelled together with Zula 2 days ago. I have introduced the company (PM and Sunsteppe), he didn't seem to be aware of the connection of Zula to PM via Sunsteppe. We talked about the oil and renewables projects and possible topics of the interview, he confirmed he is interested and asked if I can connect him and Mike, which I have done and included Jargal's communications director, with whom I confirmed the details over Whatsapp beforehand.

So now it is up to Mike and Zula if they see it as an interesting opportunity. Will let you know if I receive any other response. I think there is a good chance they will meet. Jargal said he has a slot on Thursday, but that's most likely too soon.

In understand Proquo, I trust he will make the right call, and if he does schedule it it will be at the appropriate time for him and the business. My only goal is to create the opportunity.

Jimithebrush, I highly doubt he wants to scroll through pages of personal offensive posts and arguments until he finds the few actually relevant. Ideally I will just have the intro call with Jargal, send him the number for Mike and let them sort out the rest, if deemed suitable for both.

OK understood thank you for the clarification. I was slightly worried it would be about the effort to get the interview, which would be quite unwelcome, but now I understand the topic.

PM didn't respond to my earlier question about adding new entities to the PM structure under the JV entity, so hopefully they will address it eventually.

Do you mean you contacted Mike about the potential interview, which he has no idea about and wasn’t agreed on even from Jargal’s perspective, or something else?

This may need a slight correction - on Tuesday I have a call with Jargal about the potential interview, it is not the interview itself. That remains to be agreed and arranged. It is just an intro call between me and Jargal, where we agree on details and I will aim to agree on who approached Mike, if me or Jargal (preferable)

Just received a confirmation from Jargal's team that our intro call with Jargal will happen on Tuesday 25th 7am UK time. Will let you know the outcome then.

A few days ago we shared link to the interview with ACWA Chariman and the panel discussion for New York. The moderator of the panel discussion was Jargalsaikhan Dambadarjaa (known as Jargal DeFacto), who has is own research institute of the same name. jargaldefacto.com/?page_id=4520&lang=en

I reached out to them proposing an interview between him and Mike and Zula. Their response was very positive, below. Once I have a call with Jargal, I hope he will agree to either reach out to Mike directly, or I will connect them via the admin email and their IR contact in RNSs, and will let you know the outcome. It would be great to have them 2 or 3 at one table discussing what interests Jargal, just from the point of view of the company plans and legislative challenges and his suggestions. Jargal has some influence in these things, and his interviews are really good. Had one with Rio Tinto Chief Innovation Officer Dan Walker, talking about Oyu Tolgoi, he's well connected and very interested in anything that economically or policy-wise benefits Mongolia, so he may take a supporting side towards certain challenges we face and boost PM's/Sunsteppe visibility.

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Dear Dan,

Thank you for reaching out to us with an interview proposal. We would certainly love to discuss further detail and explore scheduling the conversation with Mike Buck.

To facilitate a quick and detailed discussion, Jargal would appreciate the opportunity to speak with you directly over the phone. Could you please provide us with your preferred phone number so that we can arrange a call at your earliest convenience?

We are enthusiastic about the potential for this interview.

Best Regards,

Urtnasan. B

Mongolian business forum panel, starts with Zula, talks about the renewable vision for Mongolia

If you don't watch the whole thing start at 6.10. 10GW export to China with ACWA (Saudis), commercially viable, 2bn in financing from 2 sources, and 10bn (!) with just ACWA - more details about this in the next link

https://www.youtube.com/watch?v=QqYfBy8s-O0

ACWA chairman interview (it gets to English eventually), interview referenced in the previous video

https://www.youtube.com/watch?v=UpDbDFuN9Q4&t

It does indeed, if you haven't seen, I tried to cover it in the video, it should hopefully help a bit

youtube.com/watch?v=9NPke2cgx54

As far as I understand it, yes.

x.com/DanMavr/status/1983964896409657700

It is the company with numbers 6/16

I think the actual developer of the 10/50MW power plant in Choir is entity 3, who appears to also have funding from Singapore/Thailand (entity 10)

Another info about the funding:

Other projects, including Sunsteppe (not JV) solar power plant.

https://www.sei.org/wp-content/uploads/2024/10/solar-and-wind-power-in-mongolia-2024-policy-overview-sei2024-046.pdf

The plan itself:

https://www.greenclimate.fund/news/gcf-helps-xacbank-become-first-mongolian-bank-to-finance-large-scale-solar

On Sunsteppe funding (not our JV, the parent company)..

Page 55: unfccc.int/sites/default/files/resource/20231112_BUR_II_MGL_Final.pdf

Their project is with number 2 on page 55: funded by a loan: 8.6 mil. form XacBank, and equity

Mongolia actively cooperates with the Green Climate Fund, proposing and implementing projects

and programs to solve climate change issues in accordance with the goals of sustainable

development. Similarly, related national authorities in Mongolia and national coordinators are

working with national, regional, and accredited international organizations with the support of the

Green Climate Fund.

Currently, there are two organizations at the national level that have been authorized to receive

funding from the Green Climate Fund in Mongolia. These include: (i) XacBank – which has

accreditation rights to attract financing for small projects and programs up to 50 million USD, and (ii)

Trade and Development Bank – which has accreditation rights to attract financing for medium-sized

projects and programs up to 250 million USD. In addition, Mongolia closely cooperates with other

international organizations that have the right to receive funding from the Green Climate Fund, such

as the United Nations Environment Program (UNEP), the United Nations Development Program

(UNDP), the Asian Development Bank (ADB), and the European Bank for Reconstruction and

Development (EBRD). The Green Climate Fund has approved 20 large, small, national, and regional projects, and

programs in Mongolia, with total funding of 436 million USD from 2015 to the first quarter of 2022.

Additionally, more than 1 billion USD in funding through these projects and programs are being

raised from other parties.

On our JV Sunusteppe funding:

https://data.fca.org.uk/artefacts/NSM/RNS/5156802.html

Through the involvement in the venture of OECC, the partnership has already secured some Japanese Government grant funding to support this ground-breaking green energy initiative. An application for further grant funding is expected to be made in due course. The total grant funding for a project such as this could be up to 40% of the capital expenditure requirement.

Yeah, unfortunately this has nothing to do with us, as explained in the video. As for now, we can treat this as a separate company - not part of Petro Matad or the JV, as I wrongly assumed. However... The BESS should be tied with the building of this plant, as it is for the same capacity and in the same location.

youtube.com/watch?v=9NPke2cgx54

Hamm, I would be very very happy if I am wrong, and you are right! So I really hope I am wrong!

Furion, I think it is best I don't try to pull any other figure out of thin air, it's all guesswork anyway, we just have different assumptions and multipliers.

Hamm, here is why I think 20p is overly exaggerated:

In terms of mcap it would put us above PetroTal, who as of 14/10/25 have 18,414 bopd, total cash of $141.5 million and pay a dividend.

Since we have very little compared to that, and it would take years for us to get to that level of production, that figure makes no sense to me, when compared to other oil companies.

Anything above 6p (cca 113m mcap) and most people currently here are probably gone and happy with the result.

From X post: x.com/mongolrefinery/status/1985237607346032803

Finally taking a hard stance against protestors and activists as shown in the previous article shared here.

"Prime Minister G.Zandanshatar: ... The oil refinery is a Strategic Construction Project. Intentionally or unintentionally creating obstacles, or spreading false information about the project's implementation, constitutes an action against the national interest."

Mongolia.gov.mn/news/view/27359

Includes:

Develop distributed sources of renewable energy. Supporting private sector investment

Share of renewable energy in installed capacity 2024/20.2% 2026/17.1% 2027/27.9% 2028/20.1% 2029/25% 2030/30%

Renewable energy and distributed sources /total solar capacity of 115 MW and battery storage station with a capacity of 88 MW in 6 aimags/

Use of renewable energy (solar, wind, geothermal) for heat supply in provincial centers Stage: Feasibility study and design development

See opinion of the oh-so-wise Grok in the comment

https://x.com/danmavr/status/1983964896409657700?s=46