Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
“First - EXCELLENT RNS because it allow OPERATIONS TO GO AHEAD! 🚀 “
Indeed. But only once the paperwork is prepared and then signed. Let us all hope that this set of paperwork and the signing of it is done much much quicker than all previous paperwork.
Would be nice for MB to do a Proactive interview and have a few questions put to him.
Thornogson - as always, I hope you're right. Let's hope that this paperwork doesn't take months to draw up and that the Provincial governor doesn't stir up the activists to block the site!
"I see no apologies after all abuse - no problem and did not expect from such people."
WOS - can we start producing oil? YES or NO?
I'll tell you - No! There is paperwork (that hasn't even been prepared yet) that needs signing.
As said already, if the Mongols had a better track record, I'd be pleased. But I'm very wary this is more delays.
Roxy - Indeed. I would be more confident had we not been here many times before. As it stands right now, we still can't do anything and more paperwork needs signing. And we know how long signing paperwork takes in Mongolia!
This is positive if you believe:
1. The Local authorities will prepare and sign the paperwork quickly, and...
2. The Provincial governor won't try to block anything.
If you wanted to be really negative or cynical with your thinking, then you could say this spike is a good opportunity for MB to do a raise at a reasonable SP just in case either or both of the above points go wrong.
Thornogson - I wonder what power the Provincial Governor (who clearly has no time for MATD) to block the local authority and its processes? And, will the local authority be able to "prepare" the paperwork quicker than all other previous paperwork!?
Effectively, the company is seeking to bypass the Provincial governor and requirement for the State Special Purpose Land certificate by going to the locals and obtaining a Land Use Agreement from the local District authorities:
"A land use agreement is now being prepared which, once signed, will allow 2024 operations to go ahead commencing with completion operations on the Heron 1 well."
However, it has not been signed or even prepared yet. MATD are also clearly concerned the Provincial authorities might try to block anything:
"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."
If Heron was a goer, i.e. we will be producing oil "imminently", then I think that would have been made very clear in the RNS.
Instead, Mike Buck uses the summary at the end to say:
"With that being said, we are extremely frustrated with the continued delay to the State Special Purpose Certification process and we continue to push to get this resolved."
*The continued refusal* of the Provincial Governor to sign off on a Tripartite Agreement which has already been approved by the Ministry of Mining and Heavy Industry (MMHI) and the Central Land Agency has been raised by the Company with all relevant agencies and also at the highest levels in the Mongolian Government.
*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.
The Governor is still withholding his signature, now on the basis of a partial overlap of the Block XX Exploitation Area
It goes on!
WOS, apology???
I'm not saying you're a dishonest person - last year when you did something very similar, I think you genuinely thought MATD were finally there, but then it turned out you'd misread/translated it wrong, we weren't there, and the SP clattered back.
I think so. We had a similar incident last year when master82 misread something and the SP skyrocketed a full pence or two, before crashing back.
I cannot understand why there would be another local meeting... everything has apparently been agreed.