Member Info for Doc83

Your "TA" hasn't done you much good, though.

I've just increased my stake here. I've been waiting for the JORC study, so now is the time for me to load up. Well, I would've loved to have been in like ML was at sub 1p!

"Up we go."

???

Still 1.65/1.70 on my screen.

The so-called derampers are/were genuine holders who didn't necessarily have as rose-tinted view of MATD as the likes of WOS. For that, they were called all sorts and stalked on other boards.

It's nice to see scum like TBT suffer.

"Anyway, back to the fundamentals."

Followed 5 minutes alter by a post saying it's MM tricks!

What's tragic is thinking you can control who posts on here and still not realising after 9 months that you can't, LOL!

“Perhaps more people need to listen to Buck himself who actually runs the company rather than rely on experts the plethora of here”

Is this the same Mike Buck who said just weeks before the last couple of raises that we were fully funded for the foreseeable future?

And is this the same Gigi that has been wrong, wrong and, erm, wrong?

I can’t forget my comment back in July(?) where I said the market would only believe that we were producing and getting paid for it once the $$$ hit our bank account. Oh how true that was.

Soco got about 30% of their £93m upfront. It wasn’t great.

“ My only slight doubt is why they (PC) would even offer to do the selling and lend us equipment if that was their intent?”

Because we’re now even more up a creek without a paddle now. We’re even more reliant on them than ever before, and to reverse course now would be highly problematic. They know this.

Raises cost money, time and effort. I would doubt they’d do a raise for just $1m. Of course, they could make it exclusive to Petrovis or another single, large investor. Many companies do this. But it means PI’s have no chance to avoid dilution/buying in “cheaper”.

Still no sign of WOS. Clearly a very serious “communications issue”!

His devout followers left to defend the indefensible…

Gigi, monthly costs and salaries will exceed $200k! But even if they don't the auditors will want to see a year of costs covered and then some.

"We should hopefully have the full financial position clear in the next 3 weeks or so in the Final Results for Year End 2024 RNS (released 19th June last year). The going concern statement will be interesting."

Don't be surprised if the raise is completed before this.

Also, the comment about this now being a binary bet on a JV or not, is very plausible. We don't have the money to develop anything ourselves. And possibly even a raise won't change that.

Absolutely zero humility from those who had only rose-tinted specs on. Not surprising.

“They've more than enough to keep the lights on and are planning to only do what they can afford to do.”

I’d dispute that first part. But even if they do have enough to keep the lights on, they don’t have enough to develop Gobi, Gazelle, Borzon and Heron etc.

Of course, MB could give us far more detail (any detail!) on the plans for 2025, so they’d be no debate (TBT would love that). Because we’re now in June and before we know it, it’ll be winter shutdown again.

Without wanting to sound like Stockmaiden, MATD have raised ~$25m in the last three raises (post Heron discovery and primarily for its development). For all that cash, to be nearly 4 years on and have a single well producing 160 bopd (which we’ve still not been paid a penny for) and the coffers running dry, is dismal.

I will say that it is not all MATD’s fault. We’ve had to deal with corrupt MG officials, make what were essentially bribe payments sponsoring sports teams and building watering holes for the local community, and now deal with PC who are very clearly, for whatever reason, being obstructive. IMO, they don’t want us to succeed as they’d be the likely candidates to take it all over if we go belly up.

But back to the raised cash, it’s shocking how little has been achieved with so much. Certainly not value for money. And other than a potential trading opportunity, if there is another raise you’d have to think long and hard before committing more cash.

$1m soft loan is doing nothing.

Petrovis have slowly increased their stake in MATD with each and every raise.

There was never going to be a raise yesterday. But I reckon plans for one will be in motion now!

Adw, the Petrovis loan won’t do diddly. So it’s a raise. The question now is when (if have thought plans will already be in place) and how much. A 40% discount takes us to the 1p mark, 640 million shares max allowed issuance, £6.4m/$8.5m. At least the currency has gone in our favour for converting to USD.

I think they’ll just about squeeze that through but it’ll be the last raise they ever manage unless they do start delivering serious value.

Would I buy in? Maybe. But only for a short term trade. This has what MATD has become. A trader’s stock.

Adw, to clarify, over the longer term yes it matters. But right now, for MATDs survival and immediate next steps, there are far more important things to consider. Like my question that Wigster has just reposted.