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Seen this so many times, RMP, RRL…. solicitors letters, someone offering to take them to court, never seen one success…..you play the AIM you accept the risks…. Simple.
Hopefully SPUD RNS in morning…..first action for some time for Matd and LP hopefully in final stages (have to have faith till we are RNS’d otherwise!
Good luck all ……not over till an RNS tells us so!
Now that is just scaremongering BP, we’ve plenty of money in bank after this drill. LP will come in next 3-4 months, Mongolians have delayed, but they’ll want us to get plenty of supply ready for when refinery ready.
Although I suspect production will now start 2024
Really don’t see LP coming with Spud announcement and I don’t see a crash either. Bad news already broken that it’s gonna be a bit longer for LP…..most of us expect 2-3 months, I mean they ain’t exactly rushed so far!
Best we can hope for is LP during drilling or an oil strike.
I’ve seen various SP actions during drills so anything could happen in coming weeks.
Personally I think drop today is people cutting risk, it’s fast become, short term at least, oil strike or major share drop after the latest Land permit debacle .
Must admit I thought of doing it myself.
However similar to Master82, I’m gonna hold out for LP as I think it will come by October…..maybe sooner.
As for placings and company disappearing all scare mongering…..MG would get no foreign investment or take up of latest licences if they don’t issue our LP.
Imo my risks still the same as when I bought them and still up for now.
So on a more positive note, we are at or around the Spud - long awaited.
So who thinks it’ll be this week w/c5th and who thinks the following w/c 12th.
My monies on w/c12th…….let’s hope we have many pauses in drilling during
Getting to target depth to access areas of interest (oil!)….
I still stand by my personal view that the land permit will come in September so we can’t extract until next year, get the fields in place just in time for the refinery being ready the following year ensuring a good supply of oil for it.
What’s interesting in last RNS is it said mining dept had finished its paperwork for submission and the new dept is now redoing it all (a delaying tactic if ever there was one as any common sense would use comments already submitted).
So if mining dept had finished and was ready for submission that says to me the paperwork took 2-3 months and thus in theory that’s the max we should have to wait for submission to cabinet …..
It amazes me how rampers still insist it’s not being delayed on purpose. Funny how the pipelines got the go ahead so easily!
Also makes me think local govt has been instructed to delay it.
We will get the permit and I’ll be as happy as anyone if lands soon, but I think personally we are a few months away still.
Mike Buck should on behalf of shareholders not raise or drill further until we have the licence and are producing , once we have income we will be able to get loans to drill rather than constantly issue more shares…….as it stands if we hit at next drill we will have a long wait for exploitation licence which will once again restrict any share price increase as we’ll still be non producing…..
There is some truth in what Manro says, not necessarily with Matd specifically, but an overall AIM risk…..Yourgene was a share I’d been in and out of for years, always seemed to behave fairly well as a board, until earlier this year when the share was 4p and they issued £10m of shares at 0.1p to major shareholders and board members and my £4K became £400 over night……..and many do constantly just raise…..like Angus whose shares in issue is so huge I can hardly even say the number.
In Matd case I’m more worried about Mongolian govt than Buck.
I thought earlier this year his white lie about 1-3 months till permit was superb way of not raising at 1p or lower.
I don’t think we’ll see an LP this side of drill, but may see a rise up to or after Spud, which from RNS is next scheduled RNS, so probably around two weeks away.
GL all…..trade carefully and be aware of what Manros warning, but don’t let it spook you to much, at the end of the day life’s a risk in itself!
So firstly , the yet new obstacle in the way, I said at the start of the year and yesterday on this board that I firmly believe the MG is trying to push issuing of permit past this years drill season, in my own personal opinion I think Sept sometime, oil extraction April 2024 hopefully . Overall I think it will come.
On a positive note the drill will begin BY MID June, so 2-3 weeks, so we may still see a rise up to this, be very interesting to see where we sit share price wise at the end of the week……
I just hope MB does not go ahead with costly renewables until we have an income stream as there’s no funds in the bank for that and we know what that means……
Master the Mongolians have dragged there feet hugely on this licence, they want to ensure they have oil for the refinery they are building , they’ll look pretty stupid if they have no oil to put in it.
We could soon find ourselves in a position of awaiting an Lp and an exploitation licence…how ridiculous would that be…...interesting how fast track building of the pipeline has been compared to our licence! To pretend there has not been any stalling on our licence is just as stupid a comment .
Next week we approach June and Mr B is surely going to have to release an RNS About impending drill.
So either this week coming or early the following.
This RNS is crucial for investors as if no concrete news on LP is in it, investors need to choose whether to sell up prior to drill, as share price will drop if a duster or just sit and wait in hope of LP in future and take the ‘ride’ with the share price .
We may still have further to go on pre drill rise, we may not……so decisions for investors are imminent.
I just hope Mr B is finally going to deliver a block buster of an RNS……with the top billing being the LP….
Condorman, your A and B points are both valid, my point is, no matter what companies been formed is irrelevant, there’s only one thing we need now and that is the LP, so we can generate an income and limit the need for dilution.
Any new projects could be seen negatively by share price as it will envisage large costs on no income. We Need Land permit!
I share Manros frustrations, although I think bombarding govt will have no impact. I’ve always thought they’re delaying to as near refinery finish as possible, as Manro points out, just more and more excuses not to issue and all at a snails pace. That said they are looking to encourage foreign investment and this can’t look good……so I’m hoping Mike Buck is holding back to issue mother of all RNS’s to regain his credibility……next two weeks will decide that.
Well that’s not so bad then Condorman, but let’s just bear in mind we currently still have no income stream, so new projects equal dilution until we have an income stream to pay for them - that’s not being negative, that’s reality, and renewables aren’t cheap……
Lol - I thought the same Rookie - AIM is so corrupt .
But your not allowed to say that on this board as it’s actually the shareholder
Reassurance board, where members tell each other everything’s gonna be alright!
With the exception of a few, Bad prophet, AIinvestor and Doc.
Hopefully it’s not that, but I see little good relating to us, as we are one company, this will be another. As someone pointed out earlier.
The RNS will tell us when it comes, but not from anyone on this board.
I’d of thought we’ll get one sometime in next two weeks for sure.
Rookie - last answer was incorrect - in 20015 Major player BG group bought into Matd and all there prayers were answered as far as funding future drills, sadly BG group were then bought by shell who didn’t want to operate in so many countries and thus paid Matd around 10m in compensation. The rise was during the initial BG investment as I recall.
Master, I don’t care if he met with the Deli Llama and Gandhi , projects equals money required and more dilution for share holders, there is only one thing that matters here at present and that’s the Land permit to generate income which we can then spend on projects and stop this continued dilution.
Without it we are just another AIM company fleecing shareholders every few months to fund the boards large salaries! We need an income stream end of.
I’ve not seen a single deramper this morning Mr P, just people pointing out realities, none have said long term it won’t come off, just not as imminently as some are mis leading people with. So far the more cautious have been right as every week a ramper says ‘LP this week’…..still waiting….
Master just said oil this year guaranteed - no it’s not? When’s Mr Buck even said that? He wants it like we all do, but patience is required.
I’ve three million of these buggers, 93k worth to be precise, but I’m not going to lie or mislead like some feel it’s acceptable to do.
There will be production at some point, there will be a pipe line and the share price will rise, but maybe not for a while (although we should see a pre drill rise)