Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Heron/ Gazelle are very exciting, but I would like to see Raptor drilled next year also.
Amazing how fast this year has gone! With nothing to show for it..
Hopefully MATD can give us all a nice Christmas present.
GL all invested
Detailed Environmental Impact Assessment
The Company has had its Detailed Environmental Impact Assessment (DEIA) for the Heron Development approved by the Ministry of Environment. This is a major milestone as the field work, documentation and local community engagement requirements in the preparation of the DEIA are significant and time consuming. An approved DEIA is one of the documents required to get the final ministerial sign off on the EL approval. Securing the DEIA approval whilst countrywide Covid-19 restrictions have remained in force was achieved with the cooperation of central and local government bodies and with the hard work of the Company's HSSE and Community Relations departments.
The assay of Heron 1 oil has also been completed and the results are now under review. Overall, and as expected, the assay has demonstrated that the oil from Heron 1 is very similar to the oil produced in the neighbouring Blocks XIX and XXI. Heron 1 oil is a light, sweet, waxy crude with an API gravity of 44o making it one of the lightest oils found to date in the Tamtsag basin.
In parallel with the EL the Company is also working with MRPAM to progress the issues of land access which caused some delay and disruption to operations in 2019. MRPAM advises that they expect the issues, which arose as a result of new legislation (Reg 287 of 2017), will be resolved by the adoption of the conclusions of a working group. Those conclusions are currently progressing through the government's approval processes.
( will be resolved ) let’s hope...
17th Aug RNS
The Block XX Exploitation Licence (EL) application continues to progress through the government's approval processes. A key component is approval of the Company's reserve report for its Heron 1 oil discovery. The report has been reviewed by auditors appointed by the Ministry of Mining and Heavy Industry (MMHI) and forwarded for final review and approval to the Mineral Resource Professional Council (MRPC). We are pushing for the council to meet and we are hopeful that it will do so before the end of the third quarter.
So let’s hope by the end of this month, we have something concrete.
Hopefully they are cracking on with the refinery, expected to be completed by Dec 2022
GL all
Hi petertee, I did get a response !
Many thanks for your enquiry.
As noted in our Interim Results, the Block XX Exploitation Licence application is making its way through the Government’s approval process.
In addition, Petro Matad continues to work with the industry regulator Mineral Resources and Petroleum Authority of Mongolia (MRPAM) to progress the land use permits.
Any further updates concerning the process and timing of the Exploitation Licence and land use permits will be disclosed to the market when appropriate.
We appreciate your continued support.
Kind regards
Petro Matad
GL everyone..
Petertee, I have e-mailed them, let’s see if they respond.
We can only try, I have never had great communication with them.
They always hide behind the company, I’ve never had a name to respond too.
GL all
Hopefully not to long to wait ! Again..