Member Info for StockMaiden

Title should be:

First Cash Raise RNS FEB?

"If the answer is 1 heron 1 wild cat then why should he spend the crucial fund gambling on 20% chance well while it can be spent on 90% chance oil well?"

For one, Hamm finally admitted it's on the CEOs poor decision that had led MATAD to where it is now.

Secondly, I recall the rampers tried to make a point about gambling being as part of oil exploration, and nothing about the accountability of the BODs. Surely, truths are coming out as Mr Hamm is unhappy about the decisions made, and admitted things COULD have ended differently, so it's not so much a gamble but a decision making now?

"Because, like you, he thought the odds were in favour of Heron 1 & 2 'coming home?'

This also raises the concern if MB going forward telling the market how good odds he thinks of Borzon, just think back on Heron.

"I recognise that he's doing a difficult job in difficult circumstances'

Yeah? Like getting paid several hundred grands a year, and then finding it too difficult so he flew to Singapore for vacation and stayed there through and even after the COVID lockdown?

Some truths are coming out now Hamm.

See?

All it takes is for Mike Buck to come out and do an investors Q & A

None of this debate would happen if the CEO did his job.

Now we have Hamm and Thorn bickering over one another.

Comedy Gold.

Perhaps Thorn is MB the slimey banker.

He has done nothing but lost money for investors.

Let me ask the believers.

How and when you do see shareholders value being created with the share price is constantly drifting?

With the strategy described in my last post, the constant massive spending and dilution are actually bringing you further away from any desired value; the original goal to become a cash positive company that would enable the steady expansion of acreages throughout Mongolia, to becoming a exploration/producer.

Reality? Blew £174million with little to no result.

No revenue to-date. Unresolved issues at H1/H2.

Export processes yet to be signed. No more mention of expanding Heron field when originally shareholders were told it holds oil in the millions of barrels. Bidded a new block Borzon with new commitments of up to £14.9 million.

Where exactly is the value when the SP is at 1.2p and many long term holders had bought in the 20-30p range, some might have bought in higher when it jumped to £2 way back.

With the current position Matad is in, with weak financials and assets, there's little to no chance that it will ever go back to that share price territory.

* ROI

Developing projects at shareholders expense, then selling the company to a major for pennies, leaving shareholders with nothing. Have seen it many times and examples of this would be SXX, COPL etc

The worrying part is that the signs ARE THERE!

I'm not scaremongering, but the MATD strategy doesn't reflect RTO one bit.

It's constant fund raising and bidding of new blocks is more in line of what is being described.

Let's be honest here, shareholders are not benefiting from the constant dilution and massive spending. There's no plan, not a realistic one at least, that can confidently reassure shareholders that MATD can become a cash positive company.

How can they ever be cash positive with the constant massive spendings.

I would recommend the rampers to cut their losses here and buy Oracle Power instead. Of course, it's just my opinion.

Something definitely didn't go as planned with the Heron field, and yes it could be the sales agreement, so they had to bid any old block which happens to be Borzon, all imo

The jigsaw had already been revealed in my honesty opinion. It's the Borzon Block.

If any of the rampers thinks £174 million wasted is okay with so little results produced, then please please do not complain when Buck wastes £14.9 million more on the Borzon Block.

In reference to Abbza, he says this is how exploration works, it is a gamble so investors should hereby accept any form of losses.

Although there are some truths to unknowns in unfamiliar territory, this is how it goes right, so expect the Borzon Block to be the same.

£14.9 million wasted and nothing coming out of Borzon is a very real scenario too, but the rampers will say otherwise which contradicts the other argument of "this is how exploration works"

Would prefer FronteraPaidOut over FronteraCheckin

"Not sure how many times a CEO can make mistakes!"

Is £174 million wasted money enough for you?

Apparently not for Buck, he has the thick skin to ask for more, £14.9 million of new commitments on a new block.

A profit is a profit. Well done.

You've missed Hamm

"Let's see if MB finally makes the right decision and gets fund/ 2025 plan without another raise"

Wishful thinking.

A raise is guaranteed sooner or later with the new £14.9 million commitment, they're not gonna find the money under a sofa

Noticed a few new accounts posting here today.

Could they be former derampers now under a new name because they are too embarrassed to admit they had been wrong

Is that you Hamm