If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
As I type this, price is now down to 4.3p.
Unbelievably, it’s edging closer to the 3 levels.
What is MB actually doing behind the scenes?
Appreciate some information maybe under NDA - but that does not (or should not) stop the CEO from keeping the shareholder (investors) updated and informed of progress - where possible.
Silence unfortunately continues to speak volumes about MB.
I agree also.
MM’s manipulating the market to their advantage.
Have noticed over a long period of time - unless there is a positive RNS - the share price is forced down in the beginning of the week - and then on nearly every Friday, the price goes back up to enable the MM’s to make their weekly profits and targets.
Bit of a joke really.
It’s gotten so obvious now, that even my wife - who has absolutely zero interest in the shares market - has said to me, “it must be a Friday - prices are up”..!
She makes a valid point.
Well said Chessmaster.
The sooner MB resigns or better still, removed from his position - the better.
All these years - no licence..!
Drilling now - but no licence..!
It’s school boy’ish at best. More like simply embarrassing.
I also agree with you Manro…
It’s becoming obvious as each day goes by, that MB appears to lack any leadership skills and any key competencies.
How has he managed to let things drag this far - and still no benefits to be shown.
It simply beggars belief.
Master82 - your point - “MB forgot to do his homework and didn't get permission from local government and this is the only reason why we are in this situation”.
If MB has not done the basics (or his team have not carried out the standard basics) - then not only is that embarrassing - I’d say it is highly unprofessional.
MB should therefore consider his position..
Hi all..
I know we all saw the RNS operational update on May 22nd - but as usual, and it now being June 8th - it is noted that Mr Buck, as per usual - is still silent when it comes to keeping investors updated with progress.
To summarise the key updates from May 22nd - with bullet point 1 below, now just 7 days away from forecast - being first half of June. Any updates please Mr Buck to the shareholders?
Operational Update
Key Company Updates
· Rig arrival and Velociraptor 1 spud are forecast during the first half of June.
· Mobilization of site construction equipment to the Velociraptor 1 well location has commenced.
· Documentation proposing the certification of the Block XX Exploitation Area as Special Purpose Land for submission to Cabinet is being prepared by the ministries responsible.
· Negotiations with the Government for a new block in Mongolia's 2023 Exploration Tender Round are continuing.
I don’t post often, but read the comments daily.. Have held a decent volume of shares for 6 years now.. Very much a love/ hate relationship with Petro Matad.
To the rampers - Wiseowlspeaks, iamrich, vikingglass, hamm, master …. Now is time for you all to hide under a rock. Truly embarrassing..!
I’m so glad I green filtered weeks ago.
Worryingly I have a bad feeling this is now going to plummet to 3.5p or lower in the coming days/weeks.
Now unfortunately it is time for a review of my holding.
Dear MB
I know the majority of us are classed as small investors and merely treated as minions - but that term is relative subject to how much each individual has invested into Petro Matad.
If MB had a CEO leadership skills, he would have by now provided an RNS update - even if only to calm the respective nerves of ALL investors.
I know there are some on here who frown and make insincere digs when someone has a negative view about PM - but for the share price to have plummeted as much as it has - then I think it’s fair and proper that we ALL should be concerned.
Regards.
Dear Mr Ostraliamate
Whilst you may some valid points, there is one point missed.
The corporate governance of PM to keep their shareholders informed with updates.
That’s very much a standard governance, with unfortunately PM appearing to have forgotten those core fundamentals.
Hello fellow investors.
As we all share the current frustration, that is Mike and his motley crew continuing to evade and provide updates to us the shareholders - I took another opportunity to email Petro Matad investor relations - to try and get some genuine updates in line with their company governance.
The following is their response. I didn’t know whether to laugh or cry - the response beggars belief. Once you have read their response, you’ll probably share my frustration and lack of optimism. The paragraph that begins …..As a listed company… What a joke.
“Thank you very much for your enquiry.
As a listed company we are obliged to keep shareholders updated on any material developments in a timely manner.
The appropriate channel for this is RNS and whilst we do try to engage with investors directly to provide additional detail, we cannot answer every question or respond to every enquiry.
We appreciate your ongoing support.
Best wishes,
Petro Matad “
…..most of us on here are now getting utterly frustrated with the lack of communication from Mike Buck (MB) and Petro Matad.
If they were truly a professional company, as per their own governance rules - then they would be providing updates to their shareholders.
Some may not agree, but MB and Petro Matad are sadly now starting to come across as an un-organised company, with little professionalism and indeed its beginning to look as though they lack any skills in this type of industry.
Very concerning……
Evening all.
Reading all the varied posts, both positively and negatively for Petro Matad - it appears more and more obvious (sadly), that Mike Buck and his fellow management team are taking the proverbial pi** out of all shareholders.
Previous RNS comms led us to believe all was in order and just waiting to get the drilling rig, etc into place.
Of course it’s now obvious that this was blatant lies. They certainly cannot continue to blame Covid any longer, since other drilling companies are able to get appropriate licences and rigs in place already.
Before any bright spark says, why not just sell my investment.
Unfortunately I am far too financially invested to simply walk away, otherwise if I had known the fuller details of this fiasco - I would have walked away a long time ago.
MB and his team need to look at their governance of how they run their company - and then hang their heads in shame.
Rant over.
I really hope this is not the case, but I genuinely believe Petro Matad are struggling/in trouble.
As I say, I REALLY hope that is not the case though, for obvious reasons.
I have emailed Petro Matad investor relations approximately 6 times over the last 2-3 weeks, seeking an update (of any type), but zero response.
That goes completely against their governance to keeping investors informed.
Very frustrating to say the least and certainly not professional.
Dear I Am Rich
My sincere apologies that you have been so offended that someone else is not allowed to have an opinion.
I wish we were all as wonderfully enigmatic as you, and quite obviously an expert in the world of share dealing.
You are quite the wordsmith..!
Hi guys
Firstly, let me start by stating I am not a professional share dealer.
Just a simple man off the street so to speak.
I have what is for me, a decent shareholding in Petro Matad.
However, my patience with the CEO and Petro Matad has worn thin.
Genuine question. With the very poor lack of communication to investors - does anyone know how we can potentially instigate the removal of the CEO from Petro Matad?
I know we all jest and joke when we see the comments from regular contributors (I.E. the negative comments) - but I think those regular negative posters actually do raise some valid points. Just because their opinions don’t necessarily echo the views of everyone - I think they have the right to call out their concerns.
I’ll be open - I was confident about Petro Matad. That confidence has started to rapidly dissolve away.
So as above, how or what is the process to remove the CEO from Petro Matad?
Thank you for your time in reading my post.