Member Info for Doc83

Ampy, our year end is 31st December. If they'd had the AGM last year at say end of January, they would have had to have had their AGM by end of April. However, they had it on 29th June last year. They therefore can't wait 15 months because it takes them longer than 6 months past their year end.

In summary, they are in breach/have transgressed already. I can't see any legitimate reason for this, but some disagree and think there are potentially valid reasons.

My now doom and gloom view is that they care not for the regular PI and are not planning on having an AGM at all, perhaps even looking to take the company private, like so many in this space are doing these days (DEST the latest one). I hope I'm wrong. While I have all but sold out but for a token holding to attend the AGM if there is one, I still have friends who own it and want to see it do very well.

Fair enough, Asher.

Let’s see what tomorrow brings. I’m also now eagerly awaiting the outcome of the talks with PC, MRPAM and PM. That will be a big relief if we can get that sorted.

“Ps this will catch some out in the coming days imho”

Thanks for this. We’ve not heard this phrase before 👍

Wigster - AI generated?! 😂

"I agree with someone's (sorry forgot!) post of today, saying that the market needs more convincing in order to get the SP going."

Thanks, Ojay!

"They have to hold an AGM by 30th September (so notification by the 9th) to comply with the 15 month rule."

Spacman, it has to be within 15 months of the previous AGM, but no later than 6 months after year end, i.e. 30th June.

They are late. Way late. And you're not allowed to delay an AGM because you're holding out for good news. If that was the case, just about every AIM stock would never have an AGM!

Manlord - well said.

LSE has some shocking boards, but the EEE board has become a worthless place to visit because of one person.

I see "RedHotTips" has already been removed!

Surely not?

“It was an £8million placing of course there are still some left you need 3 to 4 times the volume to clear it.”

“Jarv55- very true . Often takes 3.5 times to clear. Perhaps cleared in day or so at this rate.”

Can anyone tell me where you can find information on this?

It's probably the buyer of 5m shares yesterday selling. Fishy...

"Is that not a sell?"

100% that is a buy.

There is no placing churn left! Those that were looking to stag the placing and make a quick buck will be long gone.

As Aeschylus says, the SP move was yesterday for the leaky ship that is MATD. We might get a bit of a move once PC negotiations are done. And only a serious rerate if Gobi hits the motherload.

Manx - I think the meeting with MATD/PC/MRPAM and hopefully confirmation of a suitable agreement between them all (it looks like by end of July) is more likely to move the SP than confirmation of beginning of operations, albeit that was nice to see this morning.

If we do get a good commercial agreement with PC, that would be one of the last potential stumbling blocks cleared … for now!

“It'll close above 4p Doc.”

🤞🤞🤞

The-Lockie - this might slowly tick up. But I really don’t see 10p unless Gobi comes up with the goods. Already the rampers are on here saying this’ll be 4-5p today, when it’s clearly not.

Aeschylus - there’s always something a bit fishy with MATD and it’s RNS’s. The SP always seems to move quite dramatically just in advance and happens too often to be just a coincidence. IMO.

Master, never disputed that. I said they wouldn’t complete in July, as per the RNS, and I’m correct. Also, I never said you were wrong with your satellite images, but I couldn’t and still can’t see the difference between the two!

Happy to continue laughing at the new kids on the block like Asher who can barely string a sentence together 😂

Asher - I’m very happy I’m not trash like you 😂

PETRO MATAD+ (MATD, House Stock, 3p) – Operations underway at Heron-1

The Mongolian E&P has announced the welcome start of completion operations on the Heron 1 oil discovery on Block XX (100% owned by Petro Matad). The 33mmbbl discovery was made in 2019, and the resumption of activities follow recent progress securing the necessary regulatory approvals and a $9.4m equity raise. Once the well completion activities are done (scheduled for mid-August), surface production equipment can be installed ready for commissioning and production start-up around the end of Q3.

The release also confirms that meetings with the Mongolian regulator and PetroChina are scheduled for this month to finalise the terms of agreements for processing, export, and sale of Heron crude via PetroChina’s neighbouring infrastructure. We expect regular updates from the company in the coming weeks and months as it advances towards the milestone of first commercial production and revenue generation that can be reinvested in further development activity and other new ventures within Mongolia.

+ Shore Capital acts as Joint Broker and Nomad to Petro Matad Ltd. In line with our conflicts of interest policy, we do not have recommendations on ‘House Stocks’

Oh, and once again a blatant leak yesterday!!!