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As I recall.....thought my 6k was bad enough.
If any other company had posted this RNS today I’d have been ecstatic ......
I wonder if GL is trying to convince his potential lenders that he has options and is not back against the wall....
Well if it all falls through now he’s gonna look very stupid, but then again if it falls through Angus will effectively be over
So he has nothing to lose......
GL all, we need it.
Loz786 - it’s all about the financing - future share price- in my eyes always has been, exploitation licence should be a drawn out formality as Mongolia wanting to attract investors not send out bad messages - so how far this goes is all dependant on dilution and farm in partner.
Just glad we’re waiting for exploitation licence until we place, as raise in SP should help reduce effect of dilution.....unless he pulls a blinker with farm in partner so we don’t need a placing.....
Still
Hoping for end of April or May licence issue and i too am hoping for circa 10-12p....in MB I trust.
Not seen many AIM company execs do this either
§ All Executive Directors, Non-Executive Directors and other senior managers have agreed to take salary cuts averaging 50%, backdated to the start of Q2 2020.
§ The Company's professional advisers have also agreed to reduce fees by up to 45%.
Spainish, as I recall it’s a long time ago now he purchased around 250k at 12p range, your right I believe there’s prob various options and performance related ones too out there, but I do remember him putting his money where his mouth is few years back.
My overall point is that take PVR ex O’Reilly paying himself £500k a year, Angus directors giving themselves rises from 60k to 120k despite abysmal performance in last year, to name a few, I don’t think Matd board have behaved in this way.....and I honestly believe intentions are good and MB thinks being polite and patient best way to play Mongolian govt who we need onside......yes, it’s painfully slow, which is why I’ll judge MB on next stage.
Time will tell....... April/May IMO , my judgement of Mr Buck and his team will be made then,
At how set up he is to move this forward quickly, ie funding etc , not for something he is reliant
On Mongolian govt for.
As for Mike Buck buying shares and where he got money, at least he’s bought the shares as previously
Said many don’t even bother doing that.......patience (or lack of it from some lol) will be rewarded.
Hope you feel better after your little outburst Manro,, shame as normal you can’t participate without insulting and name calling.
I’ve about 25k in Matd and sit reasonably happy, there’s been no mass regular dilution like Angus, UKOG and numerous other
‘Lifestyle’ AIM companies.
We have a CEO who’s invested 250k in the company, again rare on AiM for them to put money where there mouth is.
Also a board of directors who obviously know how to play a highly volatile Mongolian government.....presumably by not shouting and calling them names.......so glad it’s them and not you Manro.
Kind of my point to desperation of board trying to suddenly say it’s a top asset, who would farm into Lidsey!
Who really would lend to us ?
Geothermal - chasing rainbows
And with no news on finance again today, ‘imminent’ carry’s on.......
Can’t help thinking that Lidsey’s ‘resurrection’ is one last grab at keeping there income generation company going.......
As a naive farm in partner negates need for funds and keeps salaries coming in for that bit longer......
Saltfleetby dead with no funding but why are we all so worried when we are being told by board it is ‘imminent’!.....lol
This is the one word that stood out to me from annual report.
Finance deal is imminent - a very strong word to use .
I’m with you Yanis, already 5k down, 2.6p break even , might as well
Stay in in case Rabbit is in hat , and if annual report is to believed (mmmm...)
We’ll find out imminently - which to me means very very soon.
Compared to many AIM leaders out there , we are in good hands with Mike Buck,
He has put his money where his mouth is with £250k of shares purchased as
I recall, appears to be looking after share holders by limiting dilution and has cut costs to avoid a placing at these levels,
Anyone whose been in RRL, RMP, Angus, to name a few knows how these were treated as lifestyle companies for themselves,
Something I don’t believe MB is doing......he’s just trying to get this through in an already difficult political environment plus COViD, plus elections ......but the end hopefully is finally in sight....(although the Mongolians have taken ages lol)
Point is Horsers, it’s nice to see that the meetings occurred as mentioned in RNS,
(In Angus and there RNS’s never come to fruition lol, not to mention numerous other AIM companies), so progress......
Really hoping we may actually get this licence by end April....
I’m hoping MB is awaiting an increase in SP on licence issue before raising any funds and
Announcing farm In partner, which you’d hope he has all ready to go .....
Hopefully for this bit of process - nearly there!
Plan of Development: The expert auditor committee of the Ministry of Mining and Heavy Industry (MMHI) was constituted in January 2021 and has now completed its review of the Plan of Development. The recommendations made are being incorporated into the plan in advance of its submission to MRPC. In parallel, industry regulator the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) agreed to do its own required and independent review of the Plan of Development simultaneous with the MMHI auditors' review. MRPAM has advised that its review is complete and we are waiting to be called to a meeting of the MRPAM Technical Committee to receive its recommendations. Petro Matad is ready for the meeting and has asked MRPAM to convene the Technical Committee as soon as possible. Once the discussions with MRPAM are complete the MRPC will be asked to convene to review and approve the Plan of Development.
Exploitation Area: The Company has submitted its formal application to MRPAM for the Exploitation Area and we are urging MRPAM to add discussion and agreement of the Exploitation Area to the agenda of the Technical Committee meeting that will review and conclude on the Plan of Development. Under the law, the Exploitation Area is to be determined by mutual agreement between MRPAM and the Company.
Formal application for Exploitation Licence: The MRPC approval and ministerial sign off on the Plan of Development and MRPAM's agreement to the Exploitation Area are the final two steps in the Mongolian government's Exploitation Licence application process. As soon as we have the outstanding documentation in hand it will be submitted to the Minister of Mining and Heavy Industry along with the approval of the reserves and the already approved Detailed Environmental Impact Assessment for the Heron Field development and we will formally request the Minister to grant the Block XX Exploitation Licence.
Since the news, but little Impact on Sp..
Me neither Yanis, but none the less one of investor questions submitted by someone....
Sometimes if your new to IG they do put ‘limits’ on what you can and can’t do, so maybe it was that.
Or maybe they were just doing the bloke. a Favour by declining long bet ......lol
Good luck to all Angus holder.....let’s hope we don’t see GL on the new tv show ‘posh Pawn’ this week, raising money
For SB with his Rolext.....
I note in an investor question someone says they can’t spread bet on Angus with IG and when asked IG they said it was ‘too Risky’.
Interestingly i have a £3k a point spread bet on with Angus (which I’m obviously down on, did think I may be able to get out at 2.5p break even, but no longer believe this).
For IG to say it’s too risky is strange as Angus wasn’t included in the 950 small caps they stopped dealing on the other week, indeed Matd and PVR with a much greater market cap were. It is probably due to Angus’s market cap being below £10m which is reason I’ve been given by IG before (think they were above it when I placed my ‘misjudged’ bet.......Angus said they were going to speak to IG as to why .......clearly not liking IG’s response to the investor......although I’m now much in agreement with IG in there alleged response.....lol