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SP won't do much until after the elections, so beginning of July and even then if any production it isn't going to be until later in the year if at all? Something just not adding up and MBz lack of coms isn't helping but no change there, how many times we been in this situation now 🤔 GLA
Just an observation, E. CRYSTAL
Deputy Head of Exploration and "Production" Department, Petro Matad LLC I wonder how bored this fellow gets?
Areas of activity:
Petro Matad LLC operates in the field of oil exploration, "exploitation" and "supply of renewable energy". Two of these also need to be proven 🤔 GLA My question still stands for AGM, will they take a reduction in wages until this LP debacle is sorted??? GLA
"Why this management are keeping information secret is beyond me" master its probably because MB doesn't want to crash the SP for the next raise, there I said it!! GLA
It's only been 5 year since Matad struck oil 🤔 but we have all the support from top level government tho. Could be worse, like Burundi or Morocco. Oh well, GLA
Refinery up and running 2027 🤔 GLA
You trying to convince us or yourself cyber??🤔
AGM logistics tells me there's going to be no significant news until afterwards and likely after the elections too. AIMHO and would love to be wrong on so many levels, MATAD still being played. "Is there going to be any production this year"? 🤔
Take a few spare pens with you my staples stationery order seems to be still stuck at customs 😂 GLA
I hope not more delays if another license is needed https://www.mongolianminingjournal.com/a/73423 paraphrasing = What investors want is what changes are coming for AMNAT. I am asking to clarify whether any legal reforms have been made, as well as whether the state policy is stable. The stock exchange is more interested in how the government is supporting investors to get a social license to operate.
In general, the invitation to both parties and the granting of licenses protect the interests of investors, and investors should also act responsibly. You will get real investment by fulfilling your duties responsibly and working together. We aim to support the mining companies to identify their problems, give the correct understanding to the local authorities and work more closely with the local people within the framework of the codex. GLA
The only resistance will be to not sell to early. GLA
Or get bought out by another company for next to nothing. (Sirius Minerals Springs to mind).GLA
1.6 Fees, expenses and product sharing
The Petroleum Law sets out the different fees for petroleum exploration and extraction. These include:
Exploration licence:
:
Licence fee
US$ 3 per square kilometre for initial term; and
US$ 8 per square kilometre for any extension period
Extraction licence:
US$ 100 per square kilometre for initial term; and
US$ 200 per square kilometre for any extension period
both fees payable annually;
fines if fees not paid on time
Oil and gas:
Royalty fee
5-15 percent of extracted crude oil and gas
Unconventional oil:
5-10 percent [of extracted unconventional oil]
the recovery cost will be the cost oil in the amount approved by the state audit and
agreed under the production sharing agreement;
Recovery cost and cost oil
.
the cost oil will be up to 40 per cent of the total oil after deducting the oil used to pay the royalty fee; and
the applicable amount of cost oil for unconventional oil will be determined by a specific regulation
Product Sharing
profit oil will be shared in accordance with the terms of the production sharing agreement
Buzz, we are not privy to the terms of PSA but all i know is the profit oil will be shared as in agreement with the PSA. GLA
WEALTH FUND https://mongolia.gov.mn/news/view/26957 = GLA
More like 5 years. GLA
Might add this https://www.mongolianminingjournal.com/a/73405
"Should get pre AGM operational update" "does the header say it all"? somehow I'm not so sure but certainly would be great for starter's. GLA
Mine = "will the board members take a reduction in pay until all permits and licenses are in hand so MATAD can be a producer and explorer"?.... Elections will only be 8 or so weeks after the AGM so I still believe nothing major until afterwards. Bonus if everything beforehand or another wasted year 🤔 GLA
If this keeps up Mick Buck won't have any mates like there won't soon be any share holders either. I've sent my carrier pigeon over to Mongolia with some ink for the pens, let's see if they're any quicker than the snail pace of things over their. GLA