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The backlog at the FDA is huge, nothing is getting approved atm if it’s not Covid related, would not expect the FDA to even look at this application until 2021 or until there is a vaccine approved

Mike won’t run the risk of matd going bankrupt so he should be able to get a placing away but it will be at a huge discount imo, no wonder big business doesn’t want to do business in Mongolia 9 months to form a committee and they can’t even agree on who’s on the committee in 9 months let alone agree to approve anything total joke and screwing matd financially unfortunately

You better get buying then Hull, EL was expected to be granted earlier this year, it’s now Q4 and they have not even met to discuss the first aspect of the EL, let alone approve anything. All the while matd are burning cash and will needs funds to avoid bankruptcy, sad state of affairs agree it’s not Mike fault but games been played by Mongolia here imo it doesn’t take 9 months to form a committee

Agree Ojay this will be back at 2p over the winter mo rns ahead of a placing next year if they can get one away with no EL

What a disgrace, more delays the committee has not even met yet let alone discussed the reserve report! IF they do finally meet how long is it goi got take them to agree on it, then the process starts all over again for the next stage, given it’s taken nearly a year and they still have not approved the most basic aspects I stand by my previous estimate that it will be 2022 before any potential approval. Placing will be required very soon I cannot see them been able to raise funds above 2p imo and Mongolia wonder why they have no majors interested in their country

Fraudulent articles circulated on twitter to start the pump, now watch the dump. Disgraceful that people commit fraud to try pump a share price, newbies beware

As I said there is no borrow available to short matd check for yourself on IG or spreadEx, but when fake articles start to pop up a discounted placing can often follow investing is a dirty world

Fake news article on twitter looks to be behind today’s rise, naughty very naughty the link does not exist

78 percent free float Petrovis hold 22 percent, they have less than 1.5m

Pre placing pump perhaps? They hve no funds for any work program and the first stage of the EL has not even been approved yet, buyers beware 2p placing likely imo

Agree it EL will most likely be tied into the refinery completion due bend of 2022, I don’t think they will want matd oil going to another refinery hence why imo it could take 2 years for the EL to be fully granted as they have taken nearly 1 year to even sit round a table to discuss a reserve report that has already been audited by the experts! It’s going to be a long wait imo as ever time will tell GL all I will probably take a position in 2021 after the placing

Ojay I am not qualified to give investment advice, I am just responding to silly posts. The rns’s and podcast tell the story the EL license is and will take a long time longer than Mike anticipated hence cash is very low now. No not invested but i might in the future once timescales are clearer and funding is sorted

Read it Jonny and it only confirms what I am saying “ key component is approval of the Company's reserve report for its Heron 1 oil discovery. The report has been reviewed by auditors appointed by the Ministry of Mining and Heavy Industry (MMHI) and forwarded for final review and approval to the Mineral Resource Professional Council (MRPC). We are pushing for the council to meet and we are hopeful that it will do so before the end of the third quarter.” so they hope the council will meet to discuss the reserve report before the end of this month, if they meet and if they approve it then matd submit their full EL application for the Mongolian authorities to review as stated by the CEO Mike Buck in the podcast. So yes we await approval of the first aspect of the application, more stages to go through after this one before EL is granted or do you dispute this fact? And btw you cannot open a short on MATD on IG or SpreadEX check for yourself if you think I’m short at this price you are crazy 4p maybe but not at the lows that’s not how shorting works. It’s all very well and good shouting shorter shorter talking rubbish bla bla but what I have said is factual based on the rns’s and podcast it can’t be disputed listen to the podcast and tell me how the EL can be granted any time soon

Dozz good post, yes hopefully they will approve the reserve report by end of October but once that’s approved matd then submit the full EL application that can only go in once the reserve report is approved Mike Buck said so in the last podcast on March. So Ojay yes imo it could take years to get the full EL if the current timescales are anything to go by all imo. The reason I posted in the first place was to respond to a poster who asked if the EL was expected by the end of this month which is impossible as the law states they have to approve the reserve report before matd can submit their full application which of course neither have yet happened

It is true Ojay listen to the podcast from Mike Buck in March he lays out what’s required for the EL and the first stage has not been approved yet, something so simple as approving a simple reserve report could be done in an afternoon yet after 9 months nothing

I am guessing if it takes them over 9 months just to look at a reserves report then it will take many years to approve a full EL given much more work involved in the environmental reports planning permission etc than simply approving a reserve report which should have been done many months ago ridiculous really Mikes hands are tied

My comments are factual, listen to the last podcast Mike did. He said first they need to approve the reserve report, then we submit the full planning application for an EL license. They havnt even approved the reserve report so it’s impossible for them to grant the EL license because the full application has not been submitted by matd yet. The need to wait for the reserve report to be approved first and 9 months on still no approval. It’s all in the last podcast do some research before you say I am wrong

It’s taken 9 months Ojay and they havnt even agreed on the first aspect of the application yet been the reserve report which is the easiest part. The rest is well development land planning etc this imo could take many many months to get approved if not years things in Mongolia move very slowly hence 9 months to even sit round a table to discuss the reserve report. The placing will come soon imo hopefully above 2p

No that’s incorrect Simon, the committee are hopefully going to meet to look at the reserves report Before end of September they then have 30 days to respond. But getting the license involves many other applications after they have approved the reserves report which could take many months as it’s taken 9 months so far and they havnt even approved the first stage yet many stages to go could well take years if things continue at the current speed. Placing within next 9 months probably wise to take the placing to reduce average

Jupiter have got around 8 million pounds worth of shares to clear, very annoying that they are selling as it’s created a huge overhang that will take many months to shift. Hopefully it can hold 40p as 50p support looks to have gone, bad timing for my buy in price of 52p hopefully Jupiter clear in a few months time