London South East were delighted to welcome Incanthera to our April Investor Webinar (6.04.2021), where Chairman Tim McCarthy and CEO Dr Simon Ward presented and took questions. Watch the full interview here.
ThePOF - you are correct - just think people are being very conservative with expected SP - so they are not accused of ramping - imho potential is huge - easily more than 5 bagger as mentioned below but as said that's my opinion
Just received below email off PM
We are working through the Exploitation Licence as previously announced and will most certainly update the market as soon as we have material news.
Thank you for your ongoing patience and support as we work through the necessary steps to bring the company to the next stage of development.
Seen this on Twitter today - perhaps our friend Spainish might be able to shed some light on the newspaper article https://twitter.com/BakeyAgipar/status/1376416433299628033?s=19
Frustration is the word at present - I am p*ssed off with it as well - as Ojay said and I have said responding to comments from Spainish who professes to be in the know - if PM are not doing what they are supposed to be doing or lying to shareholders then report them - or contact FTI their consultants and vent your disgust with them - do something about it - I bombarded them and I would like to believe helped get the last RNS out of them - I have emailed, messaged Twitter respected PR people to try and get some info - Donald Leggatt replied with below
I wouldn't believe all you hear on the Twitternet Doz! FTi work with Mike Buck and it's not the right time for commentary. I'll be in the mix when it is, I promise ..
I have sent messages to media outlets in Mongolia - anything to try and put pressure on of how shareholders are being treated poor - the more we do this hopefully it will get us answers - anyway ATB
Would make sense to me - face to face is always better - different cultures - different way of thinking - shows respect etc to go that extra mile imo - who knows would it have made a difference - a thought though I'm not sure but would he have been able to go there with Covid restrictions - anyway either way patience is wearing thin and imho I do think the correspondence with investors has been poor - i still think all will come good but a lot of trust has been lost with some investors - but hopefully we will be rewarded soon and we can out this period behind us - ATB
I agree Persistent it doesn't make sense for the government to screw over PM - hence why I have put in my last message that comments made on this BB basically state that in the latest RNS PM are not telling the truth and if that is the fact then something should be done about it and the person who says they have the knowledge of this info because of their contacts in Mongolia I believe should do something about it and question FTI or Shore Capital with that knowledge
Reading between the lines of the latest posts - Spainish are you saying that the latest RNS is basically a pack of lies and deceiving shareholders because if that is the case surely it's illegal and needs to be reported. I have contacted FTI and Shore Capital on numerous occasions, do you not feel it's worth you now doing the same as you have more knowledge of this than me in your advisory role to the GOM. As LTHs we all deserve to get to the bottom of this to determine whether our investment is at risk
Might be if interest
The Cabinet meeting (March 17, 2021) discussed and approved the “Procedure for building up state reserves of petroleum products”. The adoption of this regulation is important because it creates a legal environment to maintain the stability of fuel supply by creating state reserves of petroleum products in case of possible interruptions or shortages of fuel supply due to external factors.
As of today, about 20 companies have applied to participate in the tender for the “Oil Pipeline Financing and Construction Project” announced by the Ministry of Mining and Heavy Industry on March 3, according to its official website. The winning company will complete the construction and commissioning of a 530 km long crude oil pipeline from the Tamsag deposit in Dornod aimag to an oil refinery under construction in Dornogovi aimag, along with the necessary ancillary facilities. Within the scope of this work, the main and ancillary construction of the pipeline will be planned and constructed in accordance with the nature and climate of the region, and the optimal technological solution for the transportation of crude oil will be developed.
Applications from companies interested in financing the crude oil pipeline project, engineering, procurement and construction will be accepted until 17:00 next Monday.
Spainish, further to previous comments made and questions you had, please see reply below from company :
Email to PM
With regards the funds status of PM which is causing concern with shareholders,
shareholders believe PM have no full phase development plan yet approved. Is it safe to assume PM are developing a phased development plan ?? If so are PM going to appraise and development at the same time.
If there is no appraisal data available surely this brings into question water permits, obvious land permits plus another 20 boxes to tick. What boxes have PM ticked to date, and what are outstanding.
That ties back in with the required test production over generally 180 days. This data has to be integrated into the development, to firm up the reservoir characteristics, which we have not seen any firm data on in the PM RNS’s.
Shareholders concerns is before MRPAM and the Ministry of Mining get close to issuing the EL, PM will have a lot of work to do which will require funding when PM run out of money shortly !! Can you update us shareholders on above either via a RNS or a PR meeting with the numerous options out there. It is vitally important to keep us shareholders in the loop
The plan presented by the Company and under consideration by the Government is a phased development. Mongolian law allows for appraisal and exploration activities to continue within an Exploitation Area and we are applying for the relevant permits in order to gain approval.
As noted in our Operational Update in August 2020, we have strategically put in place cost saving measures which ensure the Company remains in an operationally ready state until mid-2021 and in the meantime, the Company is pursuing a number of options to fund the next stage of its activities.
Updates in relation to the Company’s progress on its development plan and funding will be provided to the market via RNS.
Hope this helps all - ATB
Glandore there are many Twitter pages from the Mongolian authorities - search montsame.en - Mongolian Mining Journal - ikon news Amcham Mongolia - there are many - the governments plans for the next few years relating to the oil industry - refinery etc - as said it's who do you believe - all I can say is read the RNS's - Mongolia Government have been notoriously slow and I am p*ssed off with the wait but the potential PM have is huge - they have found oil - commercial oil - the government have accepted parts of the processes in the EL procedures - not all yet - why do this if they were going to stitch PM up - To get in at this SP and PM get the EL you IMHO will you get multiples of your investment - do you trust the Mongolian government - that is your decision - up to you if after reading into PM you take the risk/gamble - I'm fully loaded so I know what I believe - ATB and good luck in whatever decision you make
Glandore as in my post I stated in my honest opinion - and we all have those - Manro has his which ref MB I don't agree with but his opinion - nobody has factual information other than what we have to take from an RNS - I take my opinion from daily reading of Mongolian news agencies reports. I daily read all their Twitter pages for news pieces etc. This is where I as I said in my opinion I believe the Mongolian government are actively pushing for international investment - also a point made in the latest RNS - you might read the same as me and read it in a different way to me but that's your choice - but anyway as mentioned totally my opinion ATB
Definitely Sirbob - positive to see meetings taking place - & with the time PM have had on their hands - as you mentioned you would expect to see a lot of pieces falling into place once the EL is granted - fingers crossed we are close to really good news - GLA