Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Shareholders might be better off if they sell the assets and stop production.
Looks sank now. I don't think a lightning bolt could revive this monster! Glad i exited before!
The FCA have granted a temporary suspension of the listing in International Ferro Metals Ltd. The reason: International Ferro Metals Limited ("IFL" or the "Company") IFMSA enters Business Rescue As a result of deteriorating business conditions, IFL's South African subsidiary, International Ferro Metals (SA) (Pty) Limited ("IFMSA"), which operates the IFL Group's Lesedi mine and ferrochrome smelting operations, has taken the step of entering into Business Rescue. This is a South African statutory means of enabling a financially distressed company to continue in business, under the supervision of a Business Rescue Practitioner, protected from its creditors. While in Business Rescue there is a moratorium on creditors and others taking legal proceedings or enforcement action against IFMSA or in relation to its property or assets. This allows for the development and implementation of a Business Rescue Plan to seek to enhance the potential return for IFMSA's stakeholders.
Even IFL is up today. Must be a token rise in view of the rises today. So many oil and mining businesses are caught in the commodities slump and they need to make drastic changes to their business models to remain profitable. Unfortunately IFL is facing issues from all ends from Electricity supply to iron ore price falls. That makes it difficult to execute a strategic plan and create shareholder value.
I've been in this share since I foolishly took the advice given by Questor in 2009/2010 at 58p! So the moral of the story is to take all those Numpties pushing shares with a rock of salt.
International Ferro Metals Limited (“IFL” or the “Company”) Impact of strike action Workers employed by Almar Investments (Pty) Ltd (“Almar”), which owns and operates the materials handling mobile equipment on site under contract for the Company, are currently on a strike. This dispute seems to be part of labour unrest affecting other mining operations in the region. The dispute is with Almar and not with the Company. Almar has now managed to staff IFL operations so that operations can continue normally. As a result of the labour unrest, the Company’s furnaces have had to be intermittently reduce production. To date about 1,000 tonnes of ferrochrome production has been lost. This has also caused a disruption to the Company’s logistics and shipping schedules affecting approximately 1,500t of ferrochrome shipments to date and consequently the Company’s liquidity. Whilst operations are now returning to normal, the situation remains unpredictable, and should disruption to the Company’s operations and logistics and shipping schedules re-occur, it may put further strain on the Company’s liquidity. The Company will make further announcements as required
Another intraday reversal today but this time in the shareholder's favour. Interesting battle going on between those who think it is in a death spiral and those calling the bottom.
I think you will get it in short order Mannan. 8 to 10% falls per day and no sign of any floor. A desperate company ran into the ground. Was this at 110p at one stage? In a death spiral now.
Sold out yesterday after posting. I can sadly see no hope for the company. There is no price I would buy back in.
Phoenix from the flames....
Now
Don,t think. The share price can go down at any low
A suspension is imminent
so this is looking terminal. In a death spiral I am afraid and priced to go bust,
er no! If £5k is more than you have to lose, then keep your cash.
Some time ago: I came, I bought, I lost.
I would say wait until the market recovery. It's not only this one. Everything is keep falling. All the shares is dog now And keep getting. Lower and lower and lower
Im similar bought in years ago over 22k at average in embarrassing 20p!!!!!!!after averaging down ha... I'm tempted to throw further 5k in this dog(a lot of money in my life)would bring me down to 5/6p per share than put in bottom draw For years,,this I know is crazy cos the lights are flickering,,,but im a gambler and tempted!! Any advice greatly appreciated Good look all
Chris the liar was saying the prices wouldn't go lower then 3.9 during his february interview!
lol!
Thanks for your observation moveonup, very imformative indeed