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Jimi
I guess my question is based upon the data revealed today, if the government wants increased production, are making clear to Petro China they must meet production criteria, why are Petro Matad not progressing from an explorer to a production company far quicker.
It does appear the government are keen to source oil from within the country. It is also very clear the major ministries are supportive of an increase quota.
Why then are Matad seemingly struggling with what are clear government objectives.
Why ????
Aimags, regional Soums, Soum governors, herders and locals are critical stakeholders in any process in Mongolia and the Gobi.
The young lady has the right to raise concerns. For many years international companies have destroyed parts of the Gobi with little concern for locals needs especially relating to water useage.
For many many months I have spoken about ESG on this forum. Environmental, social and governance. We appear to have a bump in the road present itself which although inconvenient should not be an issue.
Herders, locals, Soum governors all will be looking for trade offs that support their community. You can only build those relationships on trust over time. Those meetings have to be face to face, and have to be frequent. The problem Mike has made for himself and Matad is he has not done this.
Many are drilling in Mongolia as we speak and have been through the same process. It’s not about corrupt payments it’s about engagement.
I am sure Matad will manage the situation but it’s the fact the situation has occurred that’s concerning. Mike has to step up his game or else he puts all of us at risk.
https://www.linkedin.com/feed/update/urn:li:activity:6924526841063989248?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6924526841063989248%2C6924554665187524608%29
I know Marc well and his intel is always good.
This has got to go at some point.
It’s either very close, or we are all going to be here again next year.
The market in Mongolia is beginning to recover, the PM is pushing FDI as well as anti corruption, the borders to China are beginning to open with the Justice Minister pushing the topic, which creates a platform for Matad this year.
News by the end of April and we are in good shape. No news by this point we could be looking at 2023.
As I sat here this morning watching week two of April blend into week three, and whilst reading the local news, I could not help but ponder why lesser experienced groups are all busy will either drilling programmes, attracting big Chinese investors, or at the most senior levels keeping the media and their company shareholders informed. Just asking why ??
A couple of small articles from this morning below.
ION Energy kicks off site visit with CEO Ali Haji and technical advisors at its Mongolian lithium operations
"Now that borders are fully open, I'm delighted to have foremost industry experts see our projects firsthand and work with our Mongolian team to kick off the next phase of our fully-funded exploration programs,” CEO Haji told investors
April 18 (Proactive Investors) ION Energy Ltd said its CEO Ali Haji and the firm’s technical team have landed in Mongolia for a new site visit at its Baavhai Uul and Urgakh Naran lithium operations.
The company said that Haji is in Mongolia for strategic site visits from April 16 to 26, in anticipation of sharing plans with the market for ION’s pending drilling programs, ION said in a statement.
Haji is accompanied by senior technical team members, including director Enkhtuvshin Khishigsuren, with 30 years of Mongolian mineral discovery experience, lead technical advisor Don Hains, and geologist Mark King.
"Now that borders are fully open, I'm delighted to have foremost industry experts see our projects firsthand and work with our Mongolian team to kick off the next phase of our fully-funded exploration programs,” CEO Haji told investors.
“Our preliminary results have reinforced the long-term lithium potential at our Baavhai Uul project and Urgakh Naran projects, as we strive to play a pivotal role in Asia's battery metals supply hub. I'm really excited to provide updates from Mongolia, over the coming days.”
ION told shareholders that the visit also gives Haji the opportunity to personally thank the dedicated exploration team members for their commitment and flexibility since the onset of the pandemic, in furthering our maiden drilling program at the flagship Baavhai Uul lithium brine site, while keeping each other safe and healthy.
Haji and the team will host a "Live from Mongolia” 15-minute shareholder summit on April 25.
ION's flagship, 81,000 hectare Baavhai Uul lithium brine project is the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000 hectare Urgakh Naran lithium brine licence in Mongolia’s Dorngovi province.
Xanadu looks to Zijin for Mongolian marriage
April 19 (MiningNews.net) AS WESTERN companies stand on the sidelines, Xanadu Mines has signed a staged circa-US$43 million deal with major Chinese copper producer Zijin Mining that aims to result in the latter having a 19.99% stake in the ASX-listed company and formation of a 50:50 joint venture company holding Xanadu’s current 76.5% stake in Kharmagtai project in Mo
Just asking WHY ???
https://themarketherald.com.au/tmk-energy-asxtmk-begins-maiden-drill-program-in-mongolia-2022-03-16/
https://www.marketscreener.com/quote/stock/JADE-GAS-HOLDINGS-LIMITED-41282959/news/Jade-Gas-Outstanding-gas-composition-at-Jade-s-TTCBM-Project-39760169/
Seems others are active, have rigs procured, have management in country, and have their s--t together ??
Different types of projects agree, but not so different when you apply some logic.
Master82
You mention Elixir, you then have Jade, you have MT group, who are drilling a block the size of Belgium up in the North East of Mongolia.
All of the detail is there, it’s factual and it’s happening.
If and I say if, Matad fail to deliver this year it’s not because the procurement of rigs cannot be delivered by the company.
I hope Matad do deliver because that’s what they are paid to do. It’s their job, and it’s not rocket science.
Fingers crossed.
Blackhopper
For your information I did seven winters in Mongolia running the biggest engineering project in Mongolia as the Executive Director.
Your ignorance attached to your pathetic arrogance demonstrates a clueless investor who only is interested in his own narrative and what he wants to hear.
You have no clue what is happening with Matad in Mongolia and are another ramper with four brain cells of which two travel in a different direction to the other two.
I still work in Mongolia but again that’s attached to billion dollar projects advising the biggest “client” in the country as a senior technical consultant.
Your own dumb posts attached to having no clue what is really happening unfortunately demonstrates how thick and clueless you are.
Sometimes it’s better to keep your mouth shut !! Unless of course you know what you are talking about !!
GK.
I have been listening to the absolute horse s—t being spouted around on this board for weeks.
Some of the detail I agree with but about 90% is misleading, and to the greater extent fraudulent with little or no basis.
I find most of the current posters unhinged, with limited knowledge of Matad and Mongolia and believe they have found a stock that is capable of being manipulated.
I wish them well but the facts remain unless Matad communicate their strategy, are funded to deliver this years activities, this ain’t going nowhere quickly.
I see Matad are considering renewables in Mongolia which I view very positively. Both wind and solar are becoming the preferred choice of energy and with such large acreages available, a very investable option.
I am still not so happy about the the statements in the RNS. Matad should in my opinion be giving monthly updates now in terms of next years rig, the schedule they have set themselves and the probability of delivering this for shareholders.
A short monthly report would provide shareholders a transparent update monthly and support good governance from the board of Matad.
Just asking the question why others are so active and yet Matad is not ?? Different type of project but none the less a company is drilling, has ongoing activity and a management group focused on its key deliverables ?
Why ???
Jade Commences Six Well Drilling Program
HIGHLIGHTS
Jade Gas has commenced drilling for the first of six wells planned at its flagship TT CBM Gas Project in the Tavantolgoi XXXIII PSA unconventional oil basin in Mongolia
Drilling program designed to improve understanding of 1.0 Tcf Prospective Resource
Initial well at Red Lake 1 spudded on 28 November 2021 with main target being three primary coal seams at depth
First two wells, Red Lake 1 and Red Lake 2, to be cored, logged and tested
Four remaining wells to be used in 2022 testing and pilot program
November 29 -- Jade Gas Holdings (ASX:JGH) (Jade or the Company) is pleased to announce that drilling has commenced at the Company’s flagship TT CBM Gas Project in the Tavantolgoi XXXIII PSA unconventional oil basin in Mongolia, (TT CBM Project or the Project).
The initial well, Red Lake 1, was spudded on 28 November, with the well expected to take 25 days to reach total depth at around 850 metres. In addition to a standard suite of wireline logs, the well will be cored through the three primary target coal seams, with between 25 to 50 coal samples to be recovered, and analysed in the on-site laboratory for gas content. Permeability testing is also planned in each of the coal seams to assist with future well spacing and development options.
The Company has engaged the services of highly respected local drilling company Ellehcor LLC, which has extensive experience in drilling in this region, along with coal bed methane experts out of Brisbane, Australia, that have been engaged to safely and efficiently undertake the advanced testing required for this program.
In 2019, Jade drilled eight exploration core holes during its prospecting work to evaluate the coal thickness, continuity and undertake a preliminary assessment of the gas content of the deeper Tavan Tolgoi coals in the area. This extensive dataset enabled the Company to design the current work program to target three key seams, taking the typical exploration program and adding an appraisal focus that, in addition to providing robust gas content, composition and saturation data, will provide permeability data in each of the high-graded seams across the area.
Initial targets Red Lake 1 and Red Lake 2 wells will be cored, evaluated and then plugged and abandoned. The following four wells in the program will be comprehensively tested and evaluated, with 4 ½” casing inserted to allow for future extended production testing and monitoring of the target coal seams.
At the conclusion of the program, Jade will have the permeability, gas content, saturation and compositional information necessary to assess the coal bed methane resource potential in the central area of the project.