Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Thanks, Horses.
In bed with Covid and trying to look forward to something exciting.
I appreciate your playful reply without ripping me to pieces.
My hunch is this coming week if we are lucky. If not then the first week of August for the start of real SP building RNS releases.
I feel it in my waters....!
Peace and love.
Sorry to admit that no, I have not been to Mongolia. I would very much like to go. The vast expanse of the open and empty spaces does appeal.
I wouldn't want to live there as I don't speak Mongolian and whilst I would love the vast empty spaces, I do like the finer things in life. Good wine. Good architecture. Varied cultures. The arts. Fine food.
Having spent a lot of my working life in Chile and Argentina, travelled the world quite well and visited many varied places, I have settled on the IOM.
Whilst I would love to visit Mongolia, I maintain my no thanks position to living there.
I am obviously too comfortable and arrogant and happy to stick with my choices regardless of my ignorance....!
Doc, have you come to the IOM? If so, when? Why and for how long?
I live here on this most stunning island mixing with really amazing and very very well connected and interesting people.
Mongolia.........??? No thanks!!!
If this was staged, it could show an amazing depth and strength of relationship to be able to get a statement out of the government, before certification has been made, to protect the sp and prevent matd from becoming a basket case investment.
It is curious and I think we are very very lucky indeed right now!
And I do like fish! Especially kippers!!
I would say it is more of a close shave and we are hugely lucky. But the timing is very coincidental!
It might just have worked out the way it was delivered. But you do wonder how long they may have known that V1 was a duster??
Does anyone else feel that the statement of verbal approval awaiting certification for the LP is mightily convenient for MB to land just 2 working days before the V1 Nno oil show RNS?
Can you imagine if the RNS about the LP had not come through. We would be looking at a SP of below 1p.
Does this smell fishy at all??
This is the intent of the government.
Let's hope this gets sorted quickly before "saving the mongolian wastelands" becomes a western celebrity virtue signalling cause like the rain Forrests of Brazil are, and we end up with the Just Stop Oil lot all on planes to camp and protest and make the world aware......!
This might sound sensational, like the odds of the Titanic sinking on its maiden voyage were! But if this is not sorted soon and it gets into the wrong hands, then this could become a huge problem.
Yes, Doc.
I can see it.....but I hope not to!
Thanks Master.
I take heed from your scholarly sense of calm and logic.
I still hope all will sort itself soon.
I rest my case!
I agree. But this is wild west country and they are trying to pass new laws and make the procedure system work from scratch.
We have seen the MMHI start to issue the SLP. Having done the work, just before signing off, they decided the ministry for development needed to do it. Now they have rising vocal dorno minister objections on Facebook. And a long summer recess looming (sorry vikinglass, I missed that piece last week!).
All of this has a whiff of the never ending story.. ! No one is going to invest in Mongolia until they have this properly sorted. So they need to get a move on and get a grip on this.
Their intention is clear. Their ability is shown to be worryingly lacking.
Yes we can. You just asked what had changed since Friday. This, I believe, is the answer.
It is starting to look unlikely that the SLP will be given for months, not weeks. And even then, there is an aggressive facebook against what the government are proposing re the new legislation. So it may be blocked.
I hope not to all points, and it comes soon. Because delayed could become severely delayed.
That's all.
Dorno minister... predictive text, sorry!
And 100 million shares for share options is way too much!
Specifically two things have happened.
1. They are shutting the parliament of Mongolia for the summer recess in a weeks time.
2. A drone minister has posted on facebook about the unfair nature of issuing much longer licenses for business than the ownership os permitted to mongolian people and stating it as corporate theft. These two points could hold things up big time Vikinglass.
Yes. Real risks popping to the surface now with a better understanding of the true possibilities of delays. This may also explain the release of the share options to PM staff of 10% more shares of the total shares in circulation (too many shares!!) a month ago, to try to keep them from leaving perhaps?? Perhaps they are all seeing the never ending story here...!!
Thank you WOS. Good work. Appreciated.
Drilling should be around 900 metres on Velociraptor. If oil is to be struck, it should be anytime from today or within the next 10 days, assuming that due to the untapped oil resources in Mongolia that the wells will be shallow wells of between 3,000 and 5,000 feet. That is 900 to 1,500 metres.
Clearly PM expects these to be shallow wells due to the drilling going to 1,500 mtrs only.
Any time now........!
Let's hope so...!
Assuming Matd will get the LP soon, a higher oil price for crude would be very welcome indeed!
But if Russia under a new regime wishes to enter the world, they will need to pay for the rebuilding of Ukraine. This could be done in part by the west demanding supply of discounted Russian commodities and paying the money, or a large part of those monies, to Ukraine as a form of getting their hands on the money for reparations for the unlawful invasion and destruction of Ukraine.
We will see, but I can see the commodities sector being skewed for a while going forward.