Member Info for Dozzawba

EGM this Thursday so subscription to be voted on and will be passed as already Petrovis and directors have voted for it - so expecting RNS either Friday or Monday ref the EGM and hopefully additional info ref moving forward

Frustrating I know Simon but as previously mentioned until the Open Offer was concluded they legally can't say anything or RNS as I suppose could have effect on SP - this was confirmed by PM in an email they sent me. This was their email below

Clearly we would have liked to raise these funds at a tighter discount so we certainly sympathise with your view.
As we are currently in the middle of the Open Offer we are bound by legalities in terms of engaging with the market, however we will certainly provide updates as soon as possible.

Kind Regards

Petro Matad

Imho I don't believe long to go now - Open Offer finishes today so I'm expecting an RNS very soon and a PR interview before the end of next week - fingers crossed all is explained - GLA LTH

As previously mentioned we don't have long to wait now - Open Offers is completed tomorrow - then PM/MB can legally do a PR interview. They would have been reading the comments/concerns on here so I am sure they will be addressed. A JV with Petro China soon and a good rise into the PR interview will soon allay fears - well that's my hope anyway - ATB LTH's

Hi Star thanks for this - was wondering what the actual closure date was - interesting enough the previous email I received off PM said they couldn't legally do a PR interview until the Open Offer was completed - so hopefully next week we can hear something from them

Have also put emails into PM, FTI Consultants and Shore Capital - I have just put a call into FTI also and have left a message with their receptionist giving them my mobile to return a call - let's see if I get a response - please feel free to do the same - all relevant phone numbers are at the bottom of the latest RNS's. For Manro and Spainish Mike Bucks number is listed - perhaps you would like to try that one

Not sure if I am correct on this - I know MB mentioned Blue Chip Investors were involved in the recent placings - but there has been no RNS to state they have bought a certain quantity of shares over the % disclosure threshold to which there has to be a RNS - therefore in a way they are the same as us as in investors and their information is surely confidential and if they didn't want their names disclosed how is MB supposed to give out this info anyway ???

Imho i think we will sign a JV with Petro China pretty soon - plan of development will have to be revised - and JV plans will be sourced for a big major for block 5 - as said my opinion - I think there is something brewing in the background - anyway fingers crossed - gla lth

Ojay posted by Jimi

Perhaps this may have something to do with no works planned this year. There are some legal formalities required to register the Exploitation Area, to present annual land usage plans to the local authorities and to secure budget approval from MRPAM. These will be pursued over the coming months.The boundaries of the exploitation area shall be measured pursuant to clause 24.4.5 of this law and the work of placing boundary markers shall be performed by the respective professional body within 90 days of the issuance of the exploitation license. The Ministry of Mining shall notify a respective local administrative body that an exploitation license has been issued or extended

Not sure many will be pleased to see Captain Stanley back - changes his tune for when he is in or out

There is Ma2brw - I believe Jimi posted it a while ago - part of the Exploitation procedures once granted need the government I believe to ring fence the area off - they have 90 days to complete this - therefore how slow the government is PM are just probably playing safe to say next year - I will try and find out the info

Dockerman we won't hear off him until after the Open Offer tomorrow as confirmed by PM in an email I received off them

Maestro just a thought prior to the raise they were in a weaker position with a potential JV - say for instance the JV was with Petro China - now we are in a stronger position to negotiate with them - just saying with all the crap we have just had to go through with the low placing SP I personally wouldn't be surprised if they announce a JV soon after the Open Offer as I said imo

Would not surprise me to appease pi's a farm in partner is announced soon after the Open Offer has completed which if it isn't taken up by pi's is open to ii's to take

Jimi correct there won't be an interview until after Thursday - as PM confirmed to me in an email when i said to them MB needed to do an urgent PR interview

Maestro, ref my comments on the Open Offer - you said it might not go through and investors can buy cheaper - yes aware of that, what I was saying was when I emailed PM and said MB needs to urgently do a PR interview - PM stated it is going to happen but legally cannot until the Open Offer is completed - whether it is subscribed to or not - so shouldn't be long - so even if this doesn't smell right at the moment I will make judgement after the interview - they will know there are lots of answers needed

Jimi you are correct ref to next year's drilling - was no surprise - the EL phases are listed - and boundaries need to be measured out - government has 90 days to do it - with Covid wave over there - needing to get drilling equipment and workers from China it was always going to be difficult - so imo PM are correct in stating no drilling until next year - yes am currently p*ssed off with the low placing SP but as per the email PM sent to me let's give MB the chance to explain after the Open Offer has been completed - PM will have been reading the comments on this bulletin board so will be aware of the anger - I have also emailed and told them the PR interview is urgently required so let's wait and see - as for some saying the SP will go to zero - what a load of crap - and certain people need to careful what they say about MB as getting into the realms of libel - anyway have been patient for many years so what's another 8 to 9 months - but this time with the EL granted and funding in place and hopefully a JV soon - roll on next March

Hamm, MB was quiet after EL RNS as he knew placing RNS was coming - I have emailed PM and said to them he needs to do a PR interview as a lot of PI's are p*ssed off with the low placing - they have replied and said the following :

Clearly we would have liked to raise these funds at a tighter discount so we certainly sympathise with your view.
As we are currently in the middle of the Open Offer we are bound by legalities in terms of engaging with the market, however we will certainly provide updates as soon as possible

Scousemouse - same as I have been saying - 18 months to get the much long awaited granting of the EL RNS and no PR interview after - probably one of the most important RNS's they have ever released - why would you not do a PR interview on the biggest news release - same as you imho another RNS is coming very soon

Nobody knows what is going on in the background. Facts are PM have been granted the EL – so no more delay on that. PM are resuming – meaning to begin again or continue after a pause or interruption – with JV discussions and funding. This was 4 days ago – reported in the RNS so fact. Prior to this and the granting of the EL, PM were in a much weaker position with regards JV and funding. They are now in a much stronger position. Therefore options are greater. Funding could be with a JV with PC or a loan with Petrovis, bank loan or a placing – who knows !!! Placing – I would be very surprised as this would dilute Petrovis’s holding. A small placing was previously mentioned but that has been covered off by Petrovis’s small loan previously RNS’d. PM have confirmed drilling won’t take place until next drilling season, they were honest and upfront about this. Read the stages of the government’s EL procedures – once an EL has been granted the government have 90 days to section off the area to which is to be exploited – experience with the Mongolian government – that could take you into October until you can start drilling, also take into account current Covid restrictions in Mongolia and increased cases, so pretty wise decision by PM. Ref the JV and funding look at it this way, PM as said are in a stronger position so they could think why rush into making a decision now when we don’t need the money yet, we are covered by the small Petrovis loan until after next year. Let’s get the best deal for us. Or they could think let’s get the JV and funding set up now so we are all ready for drilling season next year. As said above other than the facts reported in the RNS’s nobody outside of PM knows what’s happening, so anybody who states they do are talking crap !!!