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Hi all,
I think everyone just needs to chill out. NOTHING has changed.
The board are not going to take a brief case of cash down to the tent and buy a one off license. Perhaps how this was done previously, perhaps not. The sensible and measured approach is to fix the issue at the government level so that future exploitation isn't held up unreasonably. I have seen nothing nor heard anything from the company contrary to this.
MB made it abundantly clear that they wouldn't go in without land issues resolved, I don't know why there is this select groups of people than slander Mike and the board. It's pretty poor form and obviously designed to manipulate people into selling.
The frustrations and the process has been clearly defined and the outcome will be positive, but may take a longer time than you want. That's investing.
Comments about Mike and the board saying they are crooks and all the other comments are just from people that don't understand the process or are not happy with the timeline.
The 4 of you can get together and write a letter, I'm sure it will be great reading and you will all feel better about yourselves. Do you really honestly think the board will care, highly unlikey.
MB has clearly outlined the process and the reasons behind the situation and at face value this should be enough for all investors to have comfort in the very bright future of MATD
To clear up a few other misconceptions. Petro china can't get to our oil so it's not going anywhere and there is still a billion dollar discovery sitting there , ready for us to access when the permits are issued. This is from one structure and not our company makers.
Secondly the board and the small team of staff are on very modest incomes from the company and have been extremely frugal with our money.
This is a patience game, if you don't have it you can sell your shares and move on. Bagging out the company achieves nothing when generally speaking most of the rubbish on hear has been debunked about 10 times in the last 12 months.
The access will be sorted. In reality, as weeks move by, the exploitation may not happen before the winter period this year. Its really not the end of the world, other than being frustrating in terms of timeline.
There is still 2 months in which the access could he sorted and the equipment and people required are mostly in country or at the border as at 3 weeks ago.
Everything will be worth the wait and it's exciting times to be a shareholder.
Looking forward to the next RNS or update to see what progress has been made.
"I am still confident we will have Heron on line this year."
Your confidence says it all!
Moderate wages? How do you know? Read RNS again. It is nearly £1m!
How do you explain that MATD was not present at the very important events recently?
3 years waiting for LP! Still not enough time?
Didn't MB said that LP is just an official process?
The whole point is that MATD doesn't give atoss about PSHs as you said yourself!
Perhaps PM weren't present at the Mining Expo because they aren't in a position to network without the licence and so wanted to avoid unnecessary costs of attending the exhibition and wining and dining?
Assuming GoM have earmarked PM's oil for the refinery and are quite happy for it to be left underground until they are ready for it - can PM make it through to then without further cash raises or should they consider mothballing the project, laying off employees & stopping BoD salaries until production starts?
or are they still doing explorative drillings that we aren't being told about?
EPC 2 and EPC 3 for the refinery are under contract negotiations. Earliest you'll see boots on ground is Spring 2023. If the refinery is ready by 2025 it would be a miracle. Think you can push ETA to 2026 or 2027.
I don't think mothballing makes sense as long as a route to sell to China is viable.
The oil refinery consists of four sets of projects: EPC-1, 2, 3, 4. The project management consultant for the EPC-1 project, which is a comprehensive project of non-technological buildings of the plant, site infrastructure, roads and water supply system "Ai El" company monitors performance according to international norms and standards. The general contractor of the project is "JMC Projects" LLC of India and engineers and technical experts of 21 subcontracting companies of Mongolia are working with a total of 641 people and 250 pieces of equipment, with a plan to hand over the project on November 29, 2022.
WPS5-P2. The progress of ultrasonic testing of pipelines (June 9, 2022)
The EPC-1 project has 4 main planning stages: preparation, design, procurement, and construction, and the total project progress is 63% complete. These include Raw water storage tanks-85%, Offices and training centers-51%, Canteens-84%, Laboratories-85%, First aid and medical buildings-80%, Warehouses-45%, Entrance doors-1-64%, Entrance door-2-39%, Fire department building-52%, Repair workshop-35%, Flood water collection area-82.5%, Drainage pipe-30%, Water pipe-89%, 17km highway- 36%, Water pipeline-/Bor Khaovor/-41%, Well construction-44%, Electricity transmission overhead line-90% have been completed respectively.
An expedited tender for the selection of the general contractor for the EPC-2 unlicensed technological facility work (06.06.2022) has been announced, and tenders will be accepted on August 16.
An expedited tender for the selection of the general contractor for EPC-3 of the plant's power plant was also announced (05.04.2022) and is currently being accepted.
EPC-4 licensees for the construction of licensed technological facilities were selected. Agreements were signed with Kinetics Technologies, Italy, the licensee of the hydrogen facility, Axens, France, the licensee of the sulfur separation facility, and YUP Honeywell, the licensee of the Liquefied Combustible Gas Separation Facilities. has been established.
Why are people talking about refinery when we can't even get to the oil PM has discovered.
Maybe because it's the only thing that is active while we wait and wait and wait, but as I've previously mentioned I don't think we will see any oil now untill next year, hopefully. It took long enough to get the EL so it's been established process's are not very quick in Mongolia but I still say PM should never have taken the governor to court bwtfdik, GLA
Ostraliamate- at last a post with some balance and sense! Thank you.
Great post ostraliamate, yep patience is needed, the people here think they will just jump in and then bag and leave lol, only if it was that easy lol, I do agree the wait will be worth it and the share price is a bargain, I'm waiting on other shares to come through and will double up here for sure, I can see this easily mega multibag, so much to come here,
Ostraliamate: Way to go! Excellent and on point post - many thx. I wish we had more of your sort on this BB!
You deserve the best (which is yet to come).
Ostraliamate/Ojay/iamrich - the usual suspects. Pass me my rose coloured spex!
b/p: Is that all you can come up with?
Doesn't look like investors on this board share your views.