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Not great news but not unexpected.
Read the link below link. These are the real realities of doing business in Mongolia.
My colleague is working on a paper which highlights corruption in Mongolia presently. I will post it here shortly. I am beginning to feel a little sorry for Mike.
https://newsdirect.com/news/amarbayasgalan-dashzevegs-soviet-style-corruption-destabilizing-mongolia-336271381
SELL OFF THE LICENSE TO PETROCHINA! GIVE VERY BIG MIDDLE FINGER TO THE CORRUPT MONGOLIAN SO CALLED THIRD NEIGHBORHOOD POLICY. GIVE VERY VERY BIG MIDDLE FINGER TO THE BLOODY LOCALS. THEY ARE TAKING THE INVESTORS FOR GRANTED. ENOUGH IS ENOUGH. SELL OFF THE LICENSE AND LEAVE THAT CORRUPT COUNTRY FOR GOOD RIGHT NOW!
@Bowley - all ex-Soviet countries were or are the same. Over time it's lessened in countries who eventually joined the EU, such as Bulgaria and Romania, but the USSR communistic system was totally corrupt through and through. Organised crime went through the roof straight after the USSR fell, as the armies of people employed in the security services in the Soviet bloc turned their hands to organised crime instead. Soviet communism was a really foul disease.
Ol' ShortShrift here, apparently lurked from the side lines for months before deciding to come on LSE proper, now setting a daily posting pace to challenge WOS! Just who are you, really?
Funny to see those whining about people whining. This has dragged on for 2yrs, shareholders have every right to have a moan. I'm annoyed but not surprised. As you pointed out, I said waaay back that I thought it would be September. It's become clear that the corruption is worse than I first thought and while I won't sell, I am becoming more concerned by the day that we might not ever see a positive outcome here.
investor33 - you can talk all you want about MMs, and you might have some valid points. But in this case, we have been told that this year is all but written off, so it's logical the price falls. And it'll continue to fall as these delays continue.
Mr ShortShrift member since 20th September 2023.. maybe he was on holiday before then :-)
No wonder no one has taken any new blocks. They keep advertising on mrpam website.
Then again we do have Australian companies who have JV with PC . They have managed to find gas and are selling to lical market.
The big fat figure points to amature CEO who is the cause of their problem. The sooner he goes the happier I will be.
He has had no luck with JV and is useless at negotiating with locals.
"On cue Doc has yet another meltdown 🙄"
Where was the meltdown?
And this, LOL:
"I’m not going to get into one with you, I’ve seen how you operated with WOS - on and on and on, like an old washer woman."
I was thinking the same about you!
But if you mean tempering his wildly over optimistic ramping, then sure. I live in the real world, so things like what is happening with MATD are not too much of a surprise and why AIM stocks are just one part of my asset allocation.
"Can we stay on topic now?"
Sure. Just to clarify:
- no one is allowed to "whine".
- we should therefore only post positive comments or look at it "glass half full".
- we should "ignore the historic disappointments" when postulating what could happen going forward.
- Not call out BS, i.e. most of WOS's posts, for fear of being called a washer woman.
Cheers, moderator.
“Moderator? 🤣
This is from the guy who persistently calls the MD a liar. ”
Do explain what these two things have to do with each other?!
“Let’s all stick to MATDs prospects in a calm and rational way”
Hmm, yes oh wise one. That’s exactly what I (and a couple of others) have been trying to do this past year, especially so the rational part. Except you get shot down for being a deramping negative nelly.
Magnai Trade Co. Ltd. sued for 2.5 billion MNT, claiming that it was damaged due to the failure to conduct drilling in the area of Choibalsan Sum.
In 2010, the company signed an agreement to share oil products in an area called Bayantumen 17, which covers 7 sums of our province.
In 2019, the governor of the province issued an order to vacate the land, considering that the company used the land without permission and placed a drilling tower, a large number of containers and equipment.
In accordance with the law, the dispute was reviewed by the court of first instance of the defendant's jurisdiction, the Eastern province, and the decision of the provincial governor was justified. The plaintiff filed an appeal and the dispute continued for 3-4 years.
Also, in the past, the land of the fuel distribution station, which was located on the main road after the Iveel quarter owned by the company, was also released, which was a decision for the public interest.
ShortShrift- some good points and comments made.
We are on the cusp of this coming home.
I think that the locals have had bad experiences with Petro China so they're hardly going to be falling over themselves to sort the formalities quickly yet there's nothing they can really do so this will happen and possibly sooner than later as MB was probably advised by the Nomad to state the worst case of not before winter. Ie pessimistically / realist if you like Doc83!! Perhaps I'm too optimistic but we'll see and in any event its the depressives talking it down that helps me buy a few more.
SELL OFF THE LICENSE TO PETROCHINA! A very good suggestion LondonSuede, but not realistic.
Only determined and self-respecting businessmen would do this. Those who created and lead PM, and even more so the corrupt officials and thieves who filled all the structures of the criminal Mongolian government from top to bottom, had and have only one goal - to steal as much money as possible from gullible investors. Therefore, in my opinion, self-respecting long term investors have only one option: either fight fiercely and by all possible means and expose all the thieves, both in the MG and PM
Oh dear Manro - our resident " Apocalypse / Conspiracy" troll!!
Adding at this stage seems like throwing good money after bad.
I wish I followed my own advice and sold at 7p. Or even 6.5. Greed took over and here we are.
Could have been very well off. Now in red big time.
Short - I'm not really one for predicting the SP, not sure if I gave any indication in February. I try not not to tell folks what to do with their money so just make up your own mind.
PS - I DO remember saying that the granting of the SPC by the MG would not cause a re-rate & it didn't.
Each to their own. I've added another 300k, don't invest if you're not prepared to lose it! It's AIM ffs
ShortShrift - I think that you post some of the most sensible posts on here. I tend to agree with nearly all that you say. And you are correct that with an AIM stock such as MATD the range is massively magnified in % terms compared to a FTSE 100 stock. That's why people who get panicky about this kind of thing should probably stay away from very thinly traded AIM stocks for their own mental wellbeing.
This will happen if not this year def next ! No point selling now as most people will be in the red - I would wait for early december to top up should be able to get a nice chunk then ( if no news ) around 2.3 /2.4
Then wait for the Feb rally seen it many times with this one as been trading it for over 14 years !
GLA
Researchandhold, the truth is this - to do research and hold on PM shares, can only complete idiot! Clever investors have sold at 7p as I did it and can buy back at 1p if needed.
Did you get it? Off course not! Therefore shut up and stop shi...g this board by your blunt posts!
Manro - yeah yeah yeah , of course you did . Congrats on your language too !!😁