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Our founding company and majority shareholder Petrovis, are still a major part of the oil industry in Mongolia. Mike Buck is currently sitting on a loss in his investment in Matd.
Local access will have to be granted eventually unless Mongolia wants to be paying off a loan for a refinery that will never be used.
The idea that Matd is an elaborate ruse to fleece private investors of their money is just an incredibly unreasoned argument.
The communication from Matd is exceptionally poor and their ability to achieve time targets is even worse but it still remains an incredible investment from it’s current mcap of £18m or $20m considering it’s NPV 10 is around $250m - $480m.
Happy to remain invested as long as I have a few years left on this planet.
Have a good week fellow investors.
D1nger - as with all the other upbeat posters you seem to ignore the possibility than whenever Heron etc. starts to produce oil PM may no longer involved.
If you look at AMC (I know it's in Russia) they have massive value in nickel sitting in the ground but the investors are coming away with a few crumbs.
Petrovis still can own the company if leaves aim! We shareholders will get nothing. Look at ATC.
MB has barely paid 1/3 of his shares! Not saying he is ok with the situation.
There is no RNS convincing us that LP will be granted. Or tell us what is their next move.
There is no single of equipment.
Just saying you are happy with the situation and like FA reward V risk doesn't really help.
MATD should issue an RNS explain the situation.
Blue chip guys! Do they really exist? What Is their position?
The fact is when MATD/MB is hiding and avoiding the question it certainly means they aren't telling the truth and they have done sth wrong!
3 years was for LP? Why do you think sth will change soon?
What happened to all rubbish advanced talks ?
All porkies to say the least.
D1nger makes a number of valid points. The next RNS is well overdue although do remember that MB has stated that until the local issues are resolved the ground crews will not move in. Petrovis are also in a position to shore up any financial issues as they did last year with a short term loan to get through the winter months. If I remember correctly there are also a number of high profile government ministers who hold significant shares in PM along with MB. I don't believe they will bit their noses off to spite their faces although stranger things do happen on the AIM market.
Yes, it suits petrovis. They are very fast to make 20% interest on MATD! why MATD can't make money of its cash?
Why MATD staff/CEO should get paid for the last 3 years sitting/ doing nothing?
MATD is definitely deceiving shareholders and that is why they don't tell us what is happening.
Damn the lot.
Dinger, there is no question over this resource being exploited; it will be.
There is however a serious question over who will be the beneficiary. Mongolia is mired in corruption and the difficulties being experienced by Petro Matad follow an all too frequent pattern. There are numerous instances of valuable projects facing seemingly intractable challenges - in many cases
foreign owned projects, but not exclusively.
Powerful players (politicians and others) with designs on the projects can readily find ways of preventing progress. Recruiting vocal agitators and opponents is a common theme. Through these and similar techniques pressure is exerted in order to gain control over, or involvement in, the project. Once achieved opposition to the project melts away and the projects proceed. The only way to counter such moves is to expose the corruption, where this is evident, and or secure support from the authorities of the country which represents the company, in this case the United Kingdom. The UK Embassy has a responsibility to support UK industry where it is being disadvantaged through nefarious means or treated unfairly by the host nation. Representations should be made to the relevant embassy. With application the embassy is more than capable of dealing with these challenges. With sufficient lobbying their attention can be brought to focus on the challenges faced by Petro Matad with a view to securing a resolution to the company’s problems.
Moni, well said. I agree with you.
That is very good approach. Perhaps MB should take your advice and take further action if really and truly is with us.
Thanks again
Moni, please tell us if you think we should write a letter to British embassy ourselves or asking MATD/MB to take this action if MB thinks MG is on purpose making the situation difficult?
Guys please comment here if you have any thoughts about that.
Thanks all
Here's the Twitter link to the British Ambassador to Mongolia Philip Malone
https://twitter.com/HMAMalone?t=iJTViUrhEu_9huSxRwiOKw&s=09
Very good comment, MON1. That is what we will do - bombard by our collectively signed letters to every organisation and bring their attentions to what is happening with British and other foreign investors giving permission to companies from such a corrupted country as Mongolia to operate on AIM market. If corrupt Mongolian officials can lure British investors to them, and then brazenly rob and even extort money for a mining license, then no less stringent economic and other measures should be taken by the British authorities against those who allow themselves such a brazen attitude towards interests of its investors, and hence the country as a whole.
Let's act collectively guys and defend our interests otherwise we are going to lose our investments completely. Therefore MON1 please take a lead and prepare draft of the letters to different organisation here in the UK and abroad which everybody who agree could send and present as collectively sighed document.
This is also the email address of the British Embassy in Mongolia, I have just emailed them and put for the attention of Philip Malone, would suggest other people also email him
Enquiries.Mongolia@fcdo.gov.uk
Hamm, as many letters as possible to the embassy can only help.
Lol, Hamm buddy , seriously.......you sound desperate. Just enjoy Xmas and don't worry so much. Its all under control and the rewards will outweigh the risks and in the end it will all be worth it. Timing isn't everything, it's absolutely everything ??
Dozzawba, could you please post here what you have e-mailed to the British ambassador. I am asking it because we must all strike at the same and the most important points in order to draw as close attention as possible to the problems about which we are notifying and asking to intervene.
Manro, just received a reply off the British Ambassador - as follows :
Thank you for your message. I am aware of the issues PetroMatad have had in Mongolia and have been in regular contact with PetroMatad senior management throughout my time here. I have raised concerns a number of times with the Mongolian authorities, including recently, regarding the various problems PetroMatad have faced and the impact this has had on their ability to move ahead with their project. We will continue to support PetroMatad where we can.
Dozz, thanks for posting. ATB
Also interesting reading from a twitter post from a Mongolian MP - google translation below - not sure what the land package bill is
At the meeting of the MPP group in the Parliament (2022.11.07), it was approved whether to discuss the Land Package Bill submitted by the government to the Parliament. At the Parliament, a working group was formed with a large number of members, and it was thoroughly discussed from many angles.
Thanks Doz, hope other shareholders follow you.
Another post from the same MP. Looks as though there are a lot of discussions going on in parliament ref land issues at the moment.
The researchers came to the conclusion that the distortion was caused by the Land Law, which puts the land into circulation with the content of a legally incorrect right called the RIGHT TO OWNER. Because of this, our citizens mistakenly thought that they had the "right to own" and became the owners of the land, and a hidden economy was created.
Twitter link to the Mongolian MP if anybody interested
https://twitter.com/Enkhbayar_bat/status/1589619913085583360?t=bXFKjnDwxnCKcvE17neLCQ&s=19
Dear Philip Malone,
I have invested in MATD for nearly 10 years. After years of explorations and spending millions of pounds finally MATD found oil nearly 3 years ago. However since then MATD has been waiting to get local permit and still waiting!
I am very concerned about my investment and there are lots of British investors who they have the same concerns. Please could you investigate to see if you may facilitate the process.
Regards,
Is it just me or is not this slightly encouraging. They, the mongolian government, recognise they have a problem that is partly if not largely of their own making, I think, in time they will get this resoloved because it is not just us but the whole of their econcomy going forward. Fingers crossed.
Thanks Dozzawba and Hamm,
I am also preparing to send 3 letters to: the British Embassy, Mongolian Government and Parliament, and to the Mongolian British Chamber of Commerce.
I hope that many other investors should do the same, and not sit or wait like sheep until to be shorned.
Please be supportive and have an active attitude by emailing, tweeting etc.
Don't be bystanders!