Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Mike OT, not OJ ! What people have to realize as Oilfated raised is the guys are operating in the middle of a desert. This years weather has been harsh in terms of rainfall. If they lose a couple of days on schedule due to inclement weather, I am sure they will make it up. All sorts of odd things can crop up in the Gobi including unannounced visits from Soum governors, inquisitive herders, ajoining Soum governors looking in, all of which need carefully managing or a political situation arises which may impact schedule !! Not just about putting a drill bit in the ground and letting the technical guys deliver. Lots of other moving parts Matad will have to manage. So let the guys crack on, wait patiently, and I am sure they will deliver news in line with what they have told their shareholders. Or, your welcome to the 600 click horse ride due south west !!!
Oilfated We could always ask Rio for a seat down to OT. Jump in the company chopper and head due west. We could be there for tea !!! I would agree to the horse ride but I am not sure my back could do the 600 clicks. News will come when the company has something to say. Until then in Matad we must continue to trust !!
Fundy. My view of this is, Matad have acted quickly, professionally, and with integrity. I posted a week or so ago compliance is probably the biggest single factor corporate groups view as important above all other aspects of business these days. At the time I remember a poster stating that was “dribble” or similar. Appears not !!! I am pleased Matad have acted quickly and demonstrated very clearly that if a breach of compliance may of occurred, they have moved to correct the action, in turn in my opinion demonstrating very clearly the business considers ethical business a priority, which also demonstrates a commitment to its shareholders. Noise taken care of. Hopefully the next RNS will be news of a more profitable sort.
Jndavid490 That's a very good point. However with the demob and remob of the rig from SL to WH, has anyone seen anything in relation to permitting for a potential test rig ?? I would assume separate permits would be required, or does the original permitting capture the entire execution strategy ?? Also just for info, weather in the South Gobi this year has been worse than normal with localised flooding. I am hopeful this will not impact the logistics moves.
Obviously never managed or run a large business yourself jndavid490. If you had you will be fully aware compliance is the no1 focus most majors consider fundamental to the success of any business these days. I think you may need to broaden your business thinking and understanding. There are a great number of things business have to consider as key deliverables other than just putting drills into the ground. The world is changing my friend, and in business, compliance is a huge factor in how any business may be judged on past or future performance. Even in such distant shores as Mongolia.
Fundy. It's hard to disagree with the majority of your points. What we have to remind ourselves at junctions such as these is, compliance is there in any business to protect individuals and if followed, ultimately the business itself. Failure to follow both ethical process and compliance places indivduals at risk of legal repercussions, but ultimately can at worse smear the business. I am sure this was an individual breach, with no bad intentions, which can be addressed quickly. My view is as long as this is an isolated incident, then no harm done. Audit could be a preventative measure perhaps the board may wish to consider in the future so share holders are happy compliance and transparency is being adhered too. All the big four exist in Mongolia.
Not me jndavid490 !! I work for the big show in town so I am very happy with my employer! Just a thought that if someone that knows the market, knows the company, and knows mongolia may be available, with the current perceived comms issues, it may be a very good time to perhaps engage the chap and see if he may be available based upon his current commitments ?? Certainly a conversation I would have.
Manro. I have to admire your positivity. It certainly is of a much different view than certain others on the board. If the blood is still coursing through my veins and they have not nailed the lid down on my box, it would be a pleasure to attend your suggested event !! I just hope they do not have to dig me up and fly me in transit, as I do believe we may still have a significant wait ahead of us in terms of your proposed share price. I hope your insights are however correct buddy.
Hi Manro I think if you had made reference to Yaks, Sheep, Herders and Gers, even I would believe your story telling !! I think the way things are going a £1 party would be probably a miracle the whole Matad board would love to attend !!
Bucc
I think you need a lesson in Mongolian politics.
If you think the Mongolian PM is at a ground breaking ceremony because he believes an oil refinery is a great idea, think again. 2020 is the next general elections, and this is simply political positioning. Any one in the know in UB will tell you that.
What you are suggesting is the equivalent of BP in the late 90's building Sangachel before they had drilled and built Central, East and West Azeri.
Its unfortunately just how it is buddy. Looks shiny on the outside, but as with all thing in Mongolia, there is always an angle.
Fundraiser. Must admit you have a very rounded and clear view of where we collectively may be. What is very clear and this is just an observation, individuals have different opinions and strategies, which obviously do not suit all. Sentiment however is beginning to reflect probably half on this board are not satisfied with what’s occurred of late, where as the other half remain content. As long as we get a minimum of three wells this year executed, with maybe some test work on WH complete before the inclement hits, that I would suggest be the minimum we accept as success for 2018. If the chaps can achieve this I would be reasonable happy. Just my view.