Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Time for the BoD to buy some shares, unless we're in a closed period with a deal already in the offing? I'd also like to see the emphasis on performance based remuneration for them, not just large management fees. And maybe some options at 2 or 3p perhaps? We need an incentivised BoD.
Bottom line, non of us know what the plans are. However Mr Anderson has taken a big stake with a view of providing value, hence he has kicked the old BoDs out. Lets face it if you owned ~23% what would you do.....
You could RTO a valuable asset, boost the SP then raise any funds (assuming funds are required) at a lot higher price. You would not raise at the current SP level and dilute yourself to that extent. You raise the SP first and the dilution is a lot less
Pity it hasn't gone up more, though I expect that it will once TA announces what his plans are whether Dunraven or not. Does anyone have a view on the shape that an RTO would be if Dunraven . . . would we get 50% of the new equity ???
Ormonde SP moving up!
Directors have the power to allot relevant/equity securities now (res 5 + 6), giving flexibility to complete transactions. I recall Anderson's previous refusal to vote for this scuppered the ROC copper deal.
Hope Anderson's got something decent lined up now. He owes us one.
It would have been nice to be a year into a copper project now, with electrification becoming increasingly important.
RTO with Dunven Resources looks to be a racing certainty
https://twitter.com/johnh13579/status/1443896887812231174
I wonder if we will get an RNS from Anderson laying out what his plans are
nice to see a bit blue
You must have forgotten that Circle Oil was an abject failure, shareholders lost everything and Anderson was sacked by shareholders.
Looks like we are going to start a move North and the business will also now move forward
yes, i know they are focussing on mining however:
that objective can be changed, hence oil is still possible
if not, hopefully we secure lithium or copper - both are hot at the moment.
i am happy that we have new management - the old directors been getting free salary with no progress.
our new management, at least they are align and have large holdings.
therefore, they now have no excuse not to bring glory to ORM.
bring on circle oil !!
expect Orm to slowly rising north to 5p imho. give it a couple of months :)
No worries Flundra, think I hijacked the thread anyhow, my thoughts are similar in terms of Dunraven. I'm keeping an open mind in terms of projects, even if the RNS does say mining.
Feels like a great chance to see this move forward
excellent. i'll be honest i didnt expect the rest of the board to resign but IMO thats for the best. weve thrown our lot in with anderson so i suppose it makes sense to give him a clean sweep of it.
81% against livesey being re elected though, i thought it'd be closer than that. and with 91.7% in favor of andersons lads i suppose the rest of the board just saw the writing on the wall.
still the BEST news here is the deadlock is finished. for better or worse its andersons game now and TBH i think its our best bet to get some sort of return on our investement. when we had the tungsten mine i was waiting to sell at 14c a share. right now if we get 4c i'll be happy (though i laugh to myself thinking of the almonty deal for 6c waaay back when. ah well)
heres hoping they get the lead out and we see some news on where he's taking the company.
Fantastic news, lets be truthful the Bod did nothing but improve their handicap....good riddance to bad rubbish....
Sorry, I hijacked your thread there SuperM.
My thought was just that because Dunraven isn't a mining project, it may not be the plan. Anderson's letter was general too. I guess we have to wait for more news now.
Thanks Flundra, but I was being more specific than just MINING projects
Last board were decent people...Bu sp has been going south for along time- too long- even with all talk about Tungsten sp was going nowhere. Once it hit 17p let's hope those days are behind us.
The Board intends to continue with the Company's existing strategy being to acquire, explore and develop MINING projects
Indeed Jack, now the deadlock appears to have been resolved it leaves TA to put forward the project/s he has in mind.
Cash and assets for sale look to be between £6m-£7m so the sp in my opinion now has clear upside
Hopefully the new team moves quick!
Anderson may have a plan but he no longer has a team to run the company or put in place any strategy. Perhaps that was always the strategy? Forced inaction by the management, by a lack of support from Anderson for any relevant deals, leading to a stalemate, where Anderson takes control for no premium and then pushes the money left behind in the company into his own investments?
Clean Sweep.... New Page - Best of look to the new board....at least now we have a direction hope Mr Anderson has a plan.
Well we have our wish lets hope it moves the sp up and gets some new deals on the table.
Super news....... Good stuff.....
Let's hope this lot aren't as incompetent and idle as their predecessors (if that's possible). Hopefully TA announces his plans sharpish and we can get a fire lit under this SP. Been dwindling in no mans land for far too long.