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Yep nothing left on offer now not even 25000 at 5p
Late buying and rally on L2 and stock is vanishing fast online so nice late push before the close
Next RNS , most likely
VAT in bank
or
Customer is happy and wants every month container 25 % higher price (regular)
or
Money found/raised for future increase graphite production , non dilutional
What else does one want, time to buy IMHO
Fre1
"· Recent meetings with the Madagascar Government for the release of VAT refunds of c. $2m have further added confidence that these will be returned to the Company imminently;"
That was on 7 March. Iminently, to me, means any day now. The problem is, the co has no credibility on forecasting cash , bcos previous confidence has been shown to be misplaced. So i have little confidence in that statement, now almost 2 weeks old.
Perhaps an RNS will land tomorrow saying it's in the bank....at that point, w can all get out the flags and start to take some of the production/revenue forecasts seriously.
But until that time, I'm not holding my breath.
Binbin,
Correct that TGR sold this product directly to a German buyer.
I believe TSG is effectively an intermediary used to sell to the India market only, and is necessary for for legal reasons for operating in India. This does not fit in with the narrative that some are keen to portray though.
The RNS was positive for me too
RNS for me was positive.
Also there was a poster on here whom suggested TGR was selling unrefined graphite to TSG. With the implication TSG were making more money than they normally would in an arms length trade. Hopefully (if I have understood the latest RNS and the posters comment) the recent arms would alleviate that concern, as it is saying TGR are refining the product and selling it to a German buyer
Yes fre I'm hoping the next rns relates to the $2m being received and with it a declaration that no short term cash funding is needed (but still securing the credit facility) - that would give a healthy boost to the share price.
Happy enough to see the sell off pause at least, freed up some cash but will wait till things are clearer
Also, will be a nice cashflow addition:
Recent meetings with the Madagascar Government for the release of VAT refunds of c. $2m have further added confidence that these will be returned to the Company imminently;
· The Company achieved prequalification of this product with a German buyer and supplied a bulk commercial scale full container load for product trials by the customer, which has been successful.
· As a result, the Company received a further final qualification order from the buyer and has now shipped the next full container load of the material to the buyer.
· The qualification shipment was supplied on normal commercial terms and reflecting the premium value of this product.
· Upon receipt and approval of this final qualification container, the Company expects to receive monthly shipment orders from the buyer.
· Recent meetings with the Madagascar Government for the release of VAT refunds of c. $2m have further added confidence that these will be returned to the Company imminently;
Nice to see that the company can produce a high quality product which is in demand by European customers. However, having a board composed of Shishir, his daughter, and a recent graduate is not a sustainable position for a listed company with ambitions to be a major player in the graphite space.
Shishir needs to get quality NED's in ASAP and to keep them for more than a few months. What the issue is here is beyond me, but I suspect he may be difficult to work with or isn't paying the non-execs for their time.
This is also particularly important for obtaining debt finance, as corporate governance is a key aspect for lenders when looking at prospective clients.
HarChris agreed, if it needs to be done and will accelerate ramp up I’m all for it.
Well if they can keep up the momentum and get the share price at least back to where it was in Jan i'd happily participate in a small placing for the other £1m. Not the end of the world if that's needed for ramp up.
Observation. The last 3 rns's could have been released as 1 item with 3 sections. Clearly they are trying to generate some positive reaction.
Normally when you want a higher price for a reason e.g a
It’s a long climb to the issue price.
I just cannot understand a company with so much potential has reached this stage.
I can only blame the board as it is the only LSE listed company with such credentials.
Plenty of time to buy & there is no rush as I do not want to keep loosing.
Im not taking away anything from the news, I have a (for myself) sizeable holding and it is more than welcomed. We all have our own criteria for investing and risk appetite, the news today isn't enough to get me to average down although it could very well be a/the catalyst for continuous positive news flows. I will be waiting and watching closely until I see something that makes me more comfortable to add more. But it at least has massively subdued the doubt in my investment over the last couple of months.
Exactly. This rns certainly isn't enough for a rerate but if we get news that the $2m has been received, perhaps an update on NED/CFO appointment and also further uptick in graphite prices we might just see some momentum into the full year results due late April/May.
Because communication with investors has been brought up constantly in this board, the company seems to have turned a corner in this matter since the latest resignations and latest reshuffle of the board.
Also I didn’t find the RNS insignificant, a fair bit of information to digest and also seems the turnaround in graphite prices is imminent- “The Company has seen significant signs of a turnaround from the subdued price of flake graphite in recent weeks and notes the forecast by various reputable market research entities of a potential flake graphite shortage to kick in over the next few quarters.“
Yes, i know. But why RNsS such pretty insignificant news? Seems like a desperate attempt to put out anything +ve, no matter how minor.
It's the spate of +ve comments on here I'm flabbergasted by, treating this mildly +ve announcement as if it had any real significance. It doesn't.
Not only a positive update but seems the board are being proactive at keeping investors updated, which is what we asked for.
A highlight for me being “The Company continues to receive significant inbound inquiries from markets globally, including from China.” It just shows that TGR is an established and respected supplier of graphite, to be getting inquiries from the country with the biggest output of graphite globally can only be seen as a good sign.
We know money is tight (genghis15 mentions it everyday so we don’t forget) but as far as I’m aware it has been since this company was listed, Shishir has proved he can operate on a tight budget. Will be very exciting to see the market respond to the hopefully imminent news that we’ve either recovered the VAT refund (2Mil) or secured funding.
Very jealous to those getting in now at around 5p, I’ve managed to average down to 12p and will continue to do so. Good luck to all.
This is a positive ‘business development update’ - we know they are looking for £1m cash in the immediate term, from a working capital facility / the long overdue vat rebate, whichever comes first.
Do you want them to keep repeating time and time again ‘we need cash!!!’ ? We know it, that’s why the market cap is at 30% of its net asset value but considering that’s the case today is a positive update (and the share price is up)
I would tend to agree with this, although its positive news its not solving the biggest question. Are we meeting targeted cashflow positive production and can we survive. i am way too exposed to this company already for the risk and will not be investing more until they can prove that fundamental point.
What planet are you guys living on?
FFS, surely anyone here must realise by now that all these supposedly +ve RNSss mean little compared to the pressing question of CASH. No mention of that, of course, and any initial small amounts from this sale will likely be months away in any case.
Repeat monthly orders from the German buyer (who are they?? BMW has been cited earlier in posts)
Clearly they have had plenty of interest and significant number of enquiries, I did like theses points:
· Upon receipt and approval of this final qualification container, the Company expects to receive monthly shipment orders from the buyer.
· The 97% purity jumbo flake material commands a premium of greater than 25% over the normal up to 94% purity grades and upon regular orders being received, has a potential to positively impact the Company's basket price realisation.
I honestly thought it would be over 6p by now. I was surprised to get stock around 4.85p and even now you still can, it's a stupid market now. Overhang unchanged not much interest, clears overhang and jumps 30-50% then watch everybody try to buy in, look at the idiots in CPX this morning paying 7 times the price it was Friday and it's bust !