Member Info for Jimithebrush

"If MATD are so generous (with shareholders money, no less!) then why not be more charitable elsewhere? Why the place where they just happen to need a permit?!" Maybe has something to do with PM have an exploitation license for 25+ years, makes sense really. If no laws have been broken, I think we would've known by now it they had? GLA

It's now been 6 years to the day I purchased my first batch of shares and have accumulated along the way, now if everything goes to plan Velociraptor was my sole reason for buying, that and hundreds of millions of barrels of untapped oil, daft as it might seem but I only purchased because of its name, now only a few short months to find out whether it has been worth it. I hope 20% cos is PM being conservative. Long time to wait around to be told it's a dry hole but you pays ya money. GLA

Yes I use Google translate, it gives you the option top right hope that helps. There's too much information to translate and copy paste. GLA

https://jaran.mn/i/3397

https://mrpam.gov.mn/news/2447/

Iamrich this may be better https://youtu.be/NO6lIYruWDM

Greetings from the minister of minerals and oil. On the occasion of the 83rd anniversary of the establishment of the Geology industry in Mongolia, the geologists, scientists, and researchers of all generations, who opened the source of mineral resources and dedicated their intelligence, knowledge, and hard work to the development and future of our country, all the employees and colleagues of the Government. I would like to extend my sincere greetings on behalf of the implementing agency, Mineral Oil Department. Since 1994, trends in geological research, organization, form of ownership and financing fundamentally changed and re-approved in 1997 Geological exploration according to the Law on Minerals A legal framework has been created to carry out the work with private funds is. 14175 throughout Mongolia during this period a special license for exploration has been issued and a total of 2,988,998,553.2 (Two trillion, nine hundred and eighty billion, nine hundred and ninety eight million, five hundred and fifty three thousand) MNT has been spent on exploration work. 3,216 reports of the results of exploration carried out with the funds of private sector investors were discussed by the EBMZ, and 1,128 deposits of 14 types of metallic minerals, 347 deposits of 25 types of non-metallic minerals, 341 deposits of 9 types of common minerals, and 13 deposits of 3 types of combustible minerals were discussed by the EBMZ. taken and registered in the Mineral Resources Fund of Mongolia. Among these deposits, I am happy to point out that the discovery of the world-class Oyu Tolgoi copper deposit in the territory of Umnogov province is a proud event for our explorers. Total exploration and exploitation in Mongolia as of October 19, 2022 2557 special licenses are registered. 4.1 million ha, which is 33.1 percent of these special permits 848 special exploration licenses covering the area are validly registered. This is 2.6% of the total territory of Mongolia. Out of a total of 39 oil and unconventional oil fields in Mongolia, 9 oil fields are being explored, 6 fields are unconventional oil exploration, and 4 fields are under oil exploitation. PSC period has expired and 15 fields are being prepared to be declared open to the international oil community.
As a result of the exploration work, oil fields were found in Toson-ul, Tamsag, Dzungbayan-Tsagaan els, and Matad fields.
Oil was discovered in the Galba XI and Khokhnuur XVIII exploration fields after opening the deposits and evaluating the reserves in the Galba XI field in progress Providing ample opportunity to carry out geological prospecting in areas approved by the government and attracting private sector investment in this area have been set as a major goal and challenge for us. The innovative ideas, initiatives, and creative work of the entire industry community are responsible for realizing this goal as a practical task and overcoming challenges.

Masters post from official gov web site https://mrpam.gov.mn/

https://www.google.com/url?rct=j&sa=t&url=https://thediplomat.com/2022/12/india-to-finance-mongolias-greenfield-oil-refinery-plant/&ct=ga&cd=CAEYACoTNDc1MDYzNjE3NzUwNjE0NTYyNzIaNPetro Matad get a mention.
TUxYWMyNTFiMTZjMDIxZDpjb206ZW46VVM&usg=AOvVaw0esDtkWHwuu--6CK0vtLPV

https://www.mongolianminingjournal.com/a/72537

In my Google alert feed which I have set up and have them emailed to me. The article is from the Mongolian mining journal so could be a few wks old but thought maybe relevant. GAL

This year, our country is going to update the selection procedure for granting special licenses for minerals, and in this context, all the processes will be digitized. In this way, the classroom training of the electronic selection system for granting special licenses was organized for the enterprises of the sector. For the first time, the training was held in the classroom, and in the future, the National Geological Service will conduct the training online among the enterprises, and in the near future, the selection site will be announced in a unified manner.

Regarding this year, the National Geological Service and the Department of Minerals and Petroleum have prepared a total of 3.1 million hectares of land for selection according to their mineralization and prospects. These areas will be announced at once, and up to 400 licenses are expected to be issued. Within 30 days, the companies participating in the selection process in each field must send their proposals electronically ( via tender.gov.mn) can be submitted. However, enterprises have proposed to extend the period of 30 days. Thus, after the companies submit their proposals electronically, three evaluation commissions will be formed. The evaluation commission will make its conclusion based on the technical and price proposals submitted by the companies. The industry agency explained that the revised procedure will focus on price proposals as a step to prevent nepotism and the interests of officials. However, representatives of some enterprises are dissatisfied with this.

Although the government is rushing to intensify the stalled exploration sector and attract investment, there is fear and doubt among the companies that they will face opposition from the local administration and citizens. However, the Ministry of Minerals and Oil expressed that it will pay special attention to this issue. On the other hand, through the revision of the Law on Minerals and the Draft Land Package Law, regulations are being implemented to eliminate disputes that often arise between localities and companies.

Maybe the locals know and have decided to buy, some small trades gone through. GLA

I just want a successful outcome like everyone else ojay, I've put a lot of time and money into this thanx. GLA

Velociraptor is successful and as stated in the presentation the Mongolian refinery won't be up and running until 2025 does that mean it will be another 1 and half to 2 years before it becomes a producer from block V, hope it's a hit, + which will also give them time to drill the other prospects in block V?? If that is the case then is the Heron development going to be what funds it all, and if any further drills are unsuccessful they don't pay no more money for other drills, all sounds very interesting. GLA

Don't think my comprehension needs improvement but I do like to try stay with facts and fact is it doesn't state within the next 20 days as it's not set in stone let's hope it's not a repeat of last year, but just for the record I'm looking forward to PM doing really well especially so if Velociraptor gets drilled real soon. GLA

But

I also would like to know the same, just listened to the presentation again and all that has been referenced is from October but 1 to 3 months so I think elaborating on dates is 20 days is a bit misleading??

I would have thought doing a placing before LP being granted would be rather more difficult and too cheap than if the license is in hand imo as that would be confirmation and all systems go. GLA

I've waited 5 years for the Velociraptor to be drilled, I hope 20% cos is being conservative on PM's part and I hope they pull it off. Long time to wait to come up dry, really hope it comes up trumps. Is it PM's time to shine??GLA