The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I understand Nincompoop is back - fortunately cannot see any of his posts as I filtered him
and live far happier as a result (you should do the same - is my suggestion)
Still - will take a number of months till we get our Exploitation Licence - in the meantime MATD shares will go up and down within a range (as buys and sells determine what MM book dictates)
so I guess the 10% gang will be happy
Long Term investors still need tons of patience - imho dyor
Extract from 23 March RNS
The Government has recently adopted the internationally recognised Petroleum Resource Management System for assessing mineral and petroleum resources, which it is applying for the first time to the review procedure for Petro Matad's Exploitation Licence application.
At the same time, the authorities also want to follow the steps used the last time an Exploitation Licence was granted in Mongolia (to Petro China in 2011). This process involves the preparation of detailed Appraisal and Reserves Reports. These have been completed and submitted and are now being reviewed by MRPAM, the industry regulator, and by the Ministry of Mining and Heavy Industry (MMHI). Once they are approved, a Plan of Development and Detailed Environmental Impact Assessment (DEIA) must then be submitted.
The preparation of these documents is already well-advanced, and we are pushing hard to expedite the approval process and to secure the Exploitation Licence, although we expect it will take a number of months for the Government to go through its review procedures.
The Company's Exploitation Licence application covers an area that includes both the Heron and Gazelle discoveries and the surrounding near-field exploration potential identified by the Company.