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And one more important point for you.

Its not just the cash Oracle needs to develop the Pa_kista projects, there are other Geopolitical challenges that has resulted the delay for advancing the projects

A nice little write up trying to sound convincing.

So what you are telling me is that before the Northern Zone project, Oracle's strategy were all up in the air?

Since they knew at that point they need a ton of cash (that they don't have) to develop the Pa_kistan projects but still decided to bid for them.

We're talking about running multiple International level projects and not just one. It means the strategy had always been cash call and cash burn.

It's like buying one house and struggling to pay for that, but hey ho, let's buy a second and a third...no problem...the investors will pay for it.

Back to the current position, the Northern Zone remains a potential and they still haven't got their ML yet.

What could go wrong?

The reality is that they would require a few more raise before any potential revenue can be realised

It really is a sad case that the CEO had promised soooo much but delivered so little.

To further rub salt to the wound of the long term shareholders, he goes and join Seascape Energy for his own personal gains.

This move really showed the character MB really is, and he is not fully committing to the role at Matad.

No wonder the Mongolian Government and a respectable Chinese company such as Petrol China are treated him the way they do.

A total clown deserves just that.

10 years and near £200 million raised. Tons of promises and false dawn, and yet, MB has the face to linger around like a bad smell, total shameless.

Yet, the believers chooses to deny truth. They are loving in denial of the false promises from MB

Imo and Dyor

One thing for sure, the share price is closer to 1p than the 10p the bankers sprouted on here.

Still no farm out news?

The share price has finished 5.71% in the red.

I did say it wouldn't get far without any concrete news.

The SP may be blue now but without news I can't see it going far.

Yes the ML news could drop anytime but it could also be delayed or worse.

If you are implying people should take positions, then you are advising them to open up for risks exposure, in my honest opinion.

Looks like I have rattled the cage of the p&d brigade.

Until the ML is received then it is not obtained.

And not having the ML would mean the uncertainties are still there

Why is it taking so long and what issues remains to be resolved at court?

Without the ML the mining operation cannot start. That translates to no revenue for the foreseeable future.

What is absolute is the company's monthly burn rate.

I have always said that the compare on a race against time to bring in revenue, before the funds run out

All the signs are there for a raise in my opinion.

They have stated in the 25 February 2026 RNS:

"Now that we can see a clear path for the grant of the Mining Lease in the coming weeks"

It's been over two months now....and they are back in another court hearing relating to the ML as someone on this forum has pointed out....

Something obviously did not go as planned....

If everything was resolved, then what is there to discuss at court...

Still no ML news which is concerning

Have you listened to the Q&A Q2 2024 because if you haven't, then perhaps you should.

Like I have mentioned, its the company themselves who have set their objectives and expectations and then failed to achieve them.

For a company that relies heavily on the market for funds, they sure don't like it when potential investors are questioning their investment strategies that have so far failed in everyway you look at it. None of the projects have achieved any revenue.

"Some posters, for whatever reason, do not appear to understand the importance of getting the 2026 Oil Sales Agreement signed."

They are not here to understand. They are here to entice buys despite the flaws in the investment.

I have always said but some posters here are aliases of the company

Some people always has to have the last day despite being proven wrong countless of times.

All the facts and evidence are there.

The company has not made a penny of profit despite given years of time on numerous project opportunities.

The company exists on funding and it is the reason behind the 15 billions of shares in issue and will continue to increase for the foreseeable future.

It really is a sad case that the CEO had promised soooo much but delivered so little.

To further rub salt to the wound of the long term shareholders, he goes and join Seascape Energy for his own personal gains.

This move really showed the character MB really is, and he is not fully committing to the role at Matad.

No wonder the Mongolian Government and a respectable Chinese company such as Petrol China are treated him the way they do.

A total clown deserves just that.

10 years and near £200 million raised. Tons of promises and false dawn, and yet, MB has the face to linger around like a bad smell, total shameless.

Yet, the believers chooses to deny truth. They are loving in denial of the false promises from MB

The company are running 5-6 projects simultaneously.

You'd expect one of them has capitalised by now.

But the fact remains not 1 penny of revenue, and the company exists on a cash burn

The Q&A was at Q2 2024

Has there been any progress on THAR since?

Unfortunately, the answer is no.

It's apparent the board has become a lot more quieter after the funding has been secured.

Before that there were a lot of over optimistic posts designed to entice buys.

The SP is already closing in on 1p and I expect it'll be a lot lower as there won't be any major news for a while.

It really is a sad case that the CEO had promised soooo much but delivered so little.

To further rub salt to the wound of the long term shareholders, he goes and join Seascape Energy for his own personal gains.

This move really showed the character MB really is, and he is not fully committing to the role at Matad.

No wonder the Mongolian Government and a respectable Chinese company such as Petrol China are treated him the way they do.

A total clown deserves just that.

10 years and near £200 million raised. Tons of promises and false dawn, and yet, MB has the face to linger around like a bad smell, total shameless.

Yet, the believers chooses to deny truth. They are loving in denial of the false promises from MB.

I recommend people to listen to the past Shareholder Q&A Q2 2024. Many of the spoken projects have made little to zero progress since.

Even the interviewer sounded frustrated with the continuous delays and the scripted responses from Naheed.

It felt like an interrogation at some point and you can literally hear Naheed's voice shaking when being questioned about progress and value realisation.

The interview wasn't a showcase of confidence, it highlighted the lack of preparation, company strategies or any kind of forward plans.

Listening to Naheed getting roasted doesn't really boost confidence for shareholders and potential investors.

https://youtu.be/3racQO34g7s?si=ltQ0V-yQcy2XDhs_

In my honest opinion