Member Info for lambo222

Rns says on 29th August they send response to Avion, then IMM have to wait for Avion to respond to IMM, cash runs out at the end of August according to the research note as it states cash burn is £200k a month and at year end they would be minus £800k if no fund raise…. So at end of August they are out of cash, question is what price will they raise at… I would be happy with 6p in the current climate, very happy indeed but fear it may be a mates rate raise at lower, fingers crossed it’s not though

They are only getting £34k a month from the Lanstead agreement… losing near £60k a month, no more death spiral fu du g via Lanstead please Tim!!

Looks like a placing is on the way imo I assume a 20% discount in the current market so my guess is around 4-5p, the bod need to support it this time!

Yep I agree Dallo they will imo need to go for a small short term private placing, the worry is that it’s at a heavy discount as the FDA decision is unknown so brokers taking the placing will be taking on some risk, I think the share price will drift down to 5p levels over the quiet summer months so if they did a small placing at 5p it would only be a 10% discount.. quite good in the current climate tbh, I would definitely be disappointed at anything below 5p but we will soon find out

Cauldstream… if you had been at the AGM you may have a different conclusion… any sensible person can look at the accounts, look at the cash burn and work out that they need funds before September it basic maths. The price they raise at is unknown but in the current market of discounted placings, why should IMM be any different, why would Avion turn down a 5p price, If the FDA didn’t give approval and IMM also had no money then the company would be out into administration so obviously they will need funds, all imo and I’m sure we will see details of any placing very soon. Last post from me now for a while as I go on holiday tomorrow, GL all

I’m sure Avion wouldn’t say no to shares at 5p to bring their average down, we all know these Aim directors love a good mates rates discount, as I say if Avion and the bod take the placing even at 5p I would be happy enough with that as the price will drift towards that level over the next couple of months whilst we await news anyway imo agree that Avion should support it and it would be good to see the bod put their hands in their pockets too! Oh and no more stupid Lanstead deals

At current prices they will be getting about £600k a year from that agreement… they burn £3.5m a year so they will be running on fumes atm. A placing will imo be required in the next few weeks, we just have to hope it’s not at a big discount, I’d be happy with a 5.5p placing tbh as that’s been the average price over the last month or so and only a 10% discount, I just hope they don’t screw us as the nominal value was changed to 1p

It will definitely be below 11p Dallo don’t kid yourself on that, that was the reason for changing the nominal value from 10p to 1p so they could do a placing at less than 10p and upwards of 1p, Avion should back it again I just hope Tim doesn’t use the excuse that the market for funding is terrible atm and offer a huge discounted placing for mates rates etc, if it’s discounted to 5p for Avion alone then I could stomach that, just not a 30% discounted placing as we have seen in the past in 2020

They will probably do a placing in the next week or so imo, I have requested that shareholders are able to participate in any placing so hopefully this is offered and they don’t do a mates rate placing at a ridiculous discount… the market knows IMM need cash and it’s time for the BOD to take a good lump and be aligned with shareholders, fingers crossed they don’t screw us with a 5p placing

I agree, MB needs to resign, every other aim company seems to be able to get a rig but not matd after a year of trying they still can’t arrange a simple team to stimulate the oil and get it out, something very badly wrong here and about time MB spills the beans as to why they cannot sign a contract after 12 months of trying

By my calculations they have enough cash to last until about the end of this month imo, I’m hopeful they can get a placing away at around 6p… last thing we need is a heavily discounted placing when news is only a couple of months away

Not looking good at all, cash in bank will be around $7m, get the feeling a very bad rns could be on the way here

When you schedule a meeting you arrange a meeting…it’s arranged for 29th August so expect the feedback and minutes in early September, switch off time now over the summer months and come back in September when hopefully we will get some positive news. Still think we will need a keep the lights on placing between now and then but it should only be a small amount required, see you all in September and enjoy the summer

News won’t be until September flipper so I was right! Meeting is on 29 August so news of the meeting won’t be out until September, a couple of months to wait so hopefully no placing in the meantime , as I said it’s switch off u til September now

If MB turned round tomorrow and said yeah it’s unlikely matd will be doing anything this year the share price would tank 50% to 1p, so obviously he’s going to say he hopes this and that, truth is anyone with any sense knows nothing is happening this year, money to be made when it hits 1p though that’s the time to buy imo

So why do Matd have all these problems? Do they need a new CEO? Does MB need to resign that’s the question

It doesn’t attract international investment atm, only China

Unfortunately there is a chance this been Mongolia that they could just nationalise the oil assets, if they had the support of government then they would just step in and approve the land permit straight away, I would assume they will announce they are not able to drill this year towards the end of August as the winter season starts in October so around 6 weeks to wait, would assume a drop of around 50% to the 1p level and then it’s a case of a total gamble due to the corruption involved, Mongolia is a poor 3rd world country and money talks unfortunately… if the Chinese or Russians offer more money for Heron then Matd will have nothing, brutal but probably the reason that matd cannot attract a JV partner political risk too high

You would be a fool to buy now, wait until they announce drilling is delayed until next year and you will be able to pick these up sub 1.2p imo, total mess now as think they lose block V if they don’t drill it this year too, which obviously isn’t happening imo, Mongolia obviously a hard place to do business, especially when you have a CEO like MB

Yep not a chance imo anything is happening this year, no land permits, no contracts, protests from locals and only 4 months until winter sets in… what a shambles be lucky if 1.5p holds hold that’s where it’s heading imo lots of people buried their heads in the sand here MB included and it has cost them dear