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Tweet was made supporting locals....looks to have been a harsh winter. We have now provided lots of food, feed, water and shelter for ALL local herders. Tick up, and new operations to begin in next fortnight. 12p Vsoon imo.
Final gesture of kindness that has secured local approval.
Agree - this needs a firm additional follow RNS to confirm land agreement is signed. Same old story of, we have done this, but now we need that....
April / May as drilling season begins this will motor. Its all about building positions at this stage.
"We are hopeful that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, but we remain vigilant."
This is one concern..... and the other, is now the new hurdle of having the Land agreement signed by all parties......Dont get me wrong, im happy to read the RNS, and a very LTH holder myself, still under water, but it does seem a familiar situation we have been in before.
This needs a followup RNS confirming land agreement completion. Using words like "Hopeful" does. not instil confidence.
This is taking the absolute P1ss. Money sent to minister, will be signed "Soon", is equivalent to standing in a queue and when you get served, its "Just a moment". I don't classify "Soon" As officially moving into Q2 of the new Year. That is misleading and false information.
Twitter posts are a joke. Were installing water holes for herders and private tours for locals yes the SP have fallen out its rear end, private investor shafted beyond belief and over half a decade later were pretty much at an all time low.
MB needs to go, salaries need slashing and other investment interests need to be review. This entire operation is not fit for purpose.
Its all starts with the ministry of finance authorising the payment that has ALREADY been made by MATD to the Dorond province. I genuinely would just like to hear from other investors, why you think this has been delayed for so long?
Is it China? Is it about the refinery, is it about a FU attitude towards MATD?
Few things here really taking a while:
> The Ministry of Finance - delaying paying the Dorond Province - WHY?
>Governor of Dornod Province - Awaiting Signature from him for tripartite agreement for land access (only when funds in Dorond Province).
> Then still need issuance of the special permit to MMHI and the signing of the Land Contract between the Matad District and the Company. (All subject to first three points).
> The Cooperation Agreement still not complete with changes to Environmental Impact Assessment.
And ontop of all this - its an election year in Mongolia.
Ive been here for over 5 years, and wont bail now, but my expectation is glacier movements.
Https://economictimes.indiatimes.com/news/international/business/meil-secures-rs-5400-cr-crude-oil-refinery-project-in-mongolia/articleshow/104041291.cms
Hence we have taken the back seat on the bus.
Thanks all for the replies and update. Shame its still dragging on, but much to my initial predications that this will fall inside the same initial timings of the refinery opening in 2024. Im sure the MATD team has done what they can to get this moving, and looking like lots of activity to come. Hardest part is now over tbh, been here 5+ years, another 6months to a 1 year and im hopeful for a handsome reward. Slight worry about a 2024 cash raise, this really is dependant on pumping self revenue isnt it. Only silver lining, oil much higher than when asset was originally estimated. Im sure we see a potential 7p exit in the coming month. Usual patterns dictates 26th Dec - 10 Jan.
Order book has been very interesting since Monday. We have had heavy selling, yet a resilient SP. Big order being filled for circa £600k - £750k. Next week this will make up some sustainable ground. Very little on the short tracker. Leg up all but certain. Just the art of timing of this now. I see also that the additional blocks are about to be released by Gov. Im in for a 12 - 15p slice. GLA
I disagree, who purchases the oil whilst it's still construction? Who refines whilst still under construction? It's obviously Petrochina. What terms and contracts will be put in place to do this? How many years will they want to do it for? It won't be, use it for 18months and then cut us out.....This is a political tussle.
It's now all about V raptor results. Need a big green flag, or it's tumble time.
I'm not a deramper, I'm a trader. Currently underwater with latest position as I re entered too high. Im transparent, I'm off loading when I can. Not interested in pie in sky figures. I like to top slice and take profits. I genuinely hope oil is discovered. But I can see why the LP is always the jam of tomorrow. Alot riding on the V drill. Been in the making for about 5 years. I saw all this with snow leopard as last CEO.
It obvious, the oil refinery that the Indians have funded for over $1 Billiom dollars is delayed until 2025, was meant to be done for 2024. As Mong know the heron is guaranteed, they are kicking the can so they can refine there own oil when done.
If new drill hits oil and discovers, the LP will immediately be awarded as they know they have internal, in country supplies. If a duster, LP won't be granted until next year at the earliest.
ALOT riding on results in less than 30days.
Boom or bust time.
The golden thread sounds superb, but the reality is this is a non profit generating business and sadly has been for many, many years.
You can find all the oil you want, but if you can't extract it, it's useless. 20 years of revenue....we all know its going "green" energy, hence the new subsidiary and last time I looked, no wind or hydrofarms in place there.
This is a classic, we drill, we dust, we raise and we repeat. What happened to Snowlepord?
I'm personally invested here, but bailing long before the same spank repeats.
Meyanna, Meyanna....LP tomorrow. This is becoming seriously old and fast. Years same on Sh#te. It might come, might not. But it ain't worth hanging around for with 20% swings against.
Now were up Sh#te creek. Boom or bust on V raptor. Might be slight pump after spud and prior to result to get out, but make no mistake. I
This is a leaky ship with yet another cash raise if worst case scenario of V rap.
Clearly this " National Importance" is not thag important. Says it all. I have been stung today.