Member Info for Doc83

Cybertrash - if they do a raise, it will be for more than £2m. The time/effort and general bad feeling a raise (for working capital) would bring would not be worth doing for £2m. I'd guess £5-6m, similar to before. They don't want to be coming back to the market for cash year after year if the delays continue.

Investor - according to our own website, Petro Matad Ltd is the parent company and is incorporated in the Isle of Man, a "British Crown Dependency", listed on the London Stock Exchange. The Mongolian people will absolutely consider us a foreign company. I mean why not just incorporate in Mongolia then? I know the answer to this...

But maybe one for MB to clear up at the AGM tomorrow?

As for this: "rather than just automatically taking it on board because it fits in with a narrative of wanting to portray MATD's immediate prospects in the worst possible light on here."

No need for anyone to do that. MATD and their RNS's do plenty for that!!!

Whoa, Investor. Frequently raise panic?

Firstly, MATD is not a Mongolia company:

“The company was incorporated in the Isle of Man under the Isle of Man Companies Act”. Petrovis might own 20% or whatever it currently is (built up slowly from all the raises and dilution to others!) but it is most definitely a “foreign enterprise” for the Mongolians.

As for if Petrovis would let it go to the wall? Maybe not, but that won’t come for free. They’ll want more shares, or more control, or a loan at a cost paying back etc.

The fact remains, we are not and seemingly will not be revenue making for at least a little while yet. A company can’t run on fresh air.

As ever, I hope you are right and I am wrong.

Prophetus - can you elaborate on the different funding opportunities MATD has in the event we are not producing oil/revenue?

One of the pros for thinking this will come good eventually was that to not give MATD the right to extract oil they’d found would look very bad and could discourage inward investment into Mongolia. Reading that article you’d have to say they don’t seem too bothered if they get foreign investment or not. While labelled a nayer, I always leaned towards thinking this will eventually come for good… it was how quickly it might that I mostly disagreed with on here. However, I am now leaning the other way. MB is going to have to pull a big rabbit out of the hat on Tuesday to restore confidence.

“Jimi, so sell up and fk off you deramping sheet, very clear you deramping to get in lower scam”

I hope the one “recommendation” this post got was from Cybertrash himself. WOS calls me a disgusting individual but really, it’s posters like this. Should be banned.

Oh Hamm, seriously, bore off. You have no right to bellyache after all your nonsense about how this was a done deal, when it clearly wasn’t.

But a big LOL at Cybertrash who is really highlighting how little he knows.

Aeschylus - surely it’s bad publicity already. But that hasn’t bothered them so far. They’d probably point to all the other foreign companies and projects and say this is an unfortunate but unique situation.

Your comment that if we fail to raise money we can no longer continue as a going concern should make us all sit up a bit straighter. Because the hard facts are: we are making no money, it does not appear we’ll be making any anytime soon, and we are burning through our cash.

If the AGM does not provide something that is materially and tangibly positive, I fear for us. And I think MB does, too - potential legal recourse mentioned for the first time by MB should tell us all we know about how he’s feeling. If he was WOS-like positive, why mention anything legal.

Maybe MB has already done a deal exclusively with Petrovis or the like to raise the cash from them for cheap shares, for example 2.5p. Now if the SP was 4p+ and they did such a hefty discount just for Petrovis, they’d be uproar from PI’s. So could MB have decided to release that RNS, trash the SP so that when the private placement is done at 2.5p it doesn’t seem so bad?

Something doesn’t seem quite right to me and the above is just a wild, unlikely theory. But I do think we are going to hear something at or immediately before the AGM that we won’t like.

“You are misleading people quite deliberately. We are funded until the end of July and after that there may be other sources of funding.”

Prophetus - I hope we are funded longer than that. Because if it is only to July, there will almost certainly be a raise within days/weeks. No CEO would let funding run down to the last few weeks.

Other options? I private placement exclusively for the likes of Petrovis? I can’t see a bank lending money when we aren’t making a bean. Either way, it’s going to cost us money or dilution.

Happy to hear a more positive option.

Cyber - I've not been aimlessly trashing MATD. Yesterday was bad news or at least not the news we were hoping for, surely we can agree on that? I've said we need to see what is said at the AGM and I'm hoping there won't be too further a delay because then a raise and dilution will be likely, and yesterday's 10% fall will be nothing compared to the damage that will do.

I'm still a bit confused why MB released the RNS and didn't just wait for the AGM, where he could have immediately tried to put a positive spin on it and limit the damage.

Cybertrash, remember posting this... just before the RNS landed, LOL.

"Strong buyyyyyyy, don't lose this opportunity"

Jeez, you actually are trash!

Cybertrash - we started the week at 4p. It was a 10% ish fall after a 10% ish fall the day before. But if you think that's all "great", go you!

And as said before, I'm balanced. I've always thought this would come good, but not "any day now" like you and the rest of your ramp-tastic gang like to say. However, after yesterday, I do now wonder if it will ever come good. I'll digest what's said at the AGM and make a decision.

Cyber, who called yesterday a "great day". FML.

The RNS yesterday was full of negatives. A blue day on thin volume eroding some of the fall isn’t going to fool me. We need the AGM and MB to give us all some answers.

WOS never shows any humility. Hell, he got it all wrong, even down to expecting the negotiations with DQE/PC to be finalised. He’ll be back tomorrow morning with the same carp, I’m sure.

“I must say DOC and Prof got it right and Most of us got it wrong”

Roxy - very gracious of you to say. But I can assure you I’ve taken no satisfaction from today’s sorry RNS. Things have smelt funny here for a long time and I’m convinced we’ll now have more bad news come soon, be it another hurdle for us to jump or a raise. I’m going to see what’s said at the AGM, reflect and consider if I should remain invested, be it in part or full. Regardless, it’s just my view and maybe we can all get on a bit better. We’re mostly here for the same reason, to make some money.

Goodness me, where is the communication from Synairgen to inform us of key people leaving the business? They were happy to announce their arrivals.

As before, I like and believe in SNG001. But deary deary, I do not believe the management team are capable. Unless they pull a rabbit out of the hat at or before the AGM, I cannot support them going forward.

"let alone a company in a first world democracy"

You mean third world???