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let's wait for mike buck to explain this placement to put a rope around his neck. he may have been pressured by the mongolian government or petrovis? let's wait and hear what he says!!!! there's not much we can do as a long-term investor.
if you look at the history of the company, they will also have a delay in production. and they will have to raise money again and who will be the victims again: the shareholders.
I've had it with the ceo mike buck and that country!!!!
what disappointing news is that after getting their license!!!!!
There is not much interest in the company or we would have had other condition that were not so low price and we will certainly drop below the price they offer!!!is the same every year now that there was some improvement now that ****ing placement at 3.5p.shame on you mike buck. you ****ed the current shareholders Maybe it's time for a new CEO?
https://wp-perl-2020.s3.eu-west-2.amazonaws.com/media/2021/07/07063718/MATD-20210707.pdf
[[ Thanks to Malcys Blog ]]
Oct 8, 2020
An operational update from MATD where the Block XX exploitation licence has still not been approved in what seems to be delays in finalising nominees for the Petroleum Sub Committee of the MMHI. Whilst the company is clearly working hard on this the timing (and I’m assuming the substance is aok) it is not in their gift and there will still be an unquantifiable delay. This is despite the approval of the DEIA for the Heron development which is very good news.
Finally the company announce the retirement of CFO John Henriksen wef December 2020.
Mike Buck, CEO of Petro Matad said:
“Whilst the delay in progressing the Block XX Exploitation Licence application has been unfortunate, we are doing all we can to support the authorities to expedite the MRPC meeting and we have completed all the necessary preparations to be ready for the subsequent phases of the approval process.
Meanwhile, securing the approval of the DEIA is a major achievement and we are pleased to have this in hand. We also continue to carefully manage our cash resources whilst we pursue the permits we need while investigating various funding options for our future operations.
https://www.malcysblog.com/2020/10/oil-price-hurricane-petro-matad-getech-and-finally/
https://twitter.com/Fox_in_the_hole/status/1313327881850941440
News abound regarding possible Joint Venture and Exploration License for Mongolian Oiler. (October 2020)
we shall see?!!!