Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Q, first of all it's an EGM, not an AGM. Second, the board doesn't need our approval to make appointments and third, he's already been appointed.
1) The EGM is to do with fund raising. (Since we don't have a DFS/BFS, we are not in a position to raise the amount of money needed. Additionally, the company has sufficient existing powers to raise what it needs for the next stage)
2) The sale of the entire company. (This would not be announced in this way. An RNS would have been issued specifically concerning such a transaction. This most definitely isn't happening)
3) Something to do with the fall-out of the fraud revelation. (This is a distinct possibility. It could be certain shareholders have demanded NM's head and the company disagrees and wants to put it to a vote)
4) The separate listing of ENSA. ( I'm not sure about this one. I see it as a remote possibility, but unlikely)
5) Something to do with Cascabel. ( By a country mile this is my favourite and I see a full sale as a real possibility)
6) The introduction of a new third party to the register and at a scale which requires our approval (I'm not sure why this would require approval unless it has been demanded by BHP/others)
Have I missed anything?
The AGM could just be to officially appoint the CFO and nothing more.
I also believe their is a fair chance this EGM is related to the multi million embezzlement that took place.. Ward could be on his way out? I find it very difficult to believe no heads roll as a result of that… especially if Darryl wants to show he is running a new professional board and not a boys club
Agreed Orthern
But they can do a substantial raising ( as we have many times) without the need to call an EGM
I can only assume it is funding and permit related… we are clearly currently moving slowly to preserve cash ( frustrating given we are an explorer) but understandable
It's strange that Canadian company law appears to allow a business to post notice of a general meeting without simultaneously providing an agenda. I may be wrong, but my memory tells me in the UK both have to appear at the same time. The Canadian situation allows for far too much speculation and is not helpful to shareholders.
As far as the delay here is concerned, I can only conclude it's due to the fact the agenda hasn't been settled yet. In other words, whatever it is we will be asked to vote on is still in discussion/finalization.
Yip, I get what you are saying, Ortherncopper. Simply a regulatory requirement. But even so.... Part of an important process moving forward. Should we want to mine ourselves(for finance approval), JV or a bid.
I wonder if anybody can tell me why we have not drilled Parambas, Chinambieto, Cristal, Trivino and Carmen sites? Or will these possibly be explored later?
I see there is a separate detailed similar document for Porvenir. Interesting!
Take your point Ortherncopper, but after years of owning this frustrating share, just let us dream for a long weekend!
... anyway, put this into context with everything else...
1. Industry acknowledged 'fantastic and well delivered' PFS ( f.....g finally! )
2. New look exec. team flying round the world whipping up investor support post PFS
3. The Porvenir and Tandy update , with more 'upside' to come.
4. Multiple industry news wires touting bids June ( leak IMHO )
5. Now this technical report, which addmitedly is a regulatory requirement, but with the backdrop of the above, combined with all the news about copper about to take off like GME...
Call me nieve, but given this was dropped 1st June ( the rumoured bid month ), why wouldn't this be starters orders for a dutch auction of Cascadel? Exciting times.
Bet Nick is sat a chair, cigar in mouth 'I love it when a plan comes together...'
https://youtu.be/NsUFBm1uENs
Have a great weekend all. C
Correct Ortherncopper.
We still don't have a bid situation, as nothing has changed.
This is the next step in the process of constructing Alpala, possibly with some high grade open cut to start the process. Which has been the plan for sometime.
Ditto, too many people here post and play directly into the hands of certain disruptors who will I dare say eventually enjoy the riches to come here with the rest of us ;o ))
Agreed
This report is absolutely nothing to do with any potential bid or upcoming corporate event…
it’s simply a regulatory requirement to submit this report within a certain number of days of the PFS.. the mania this has triggered is insane… Solg are just adhering to technical requirements.
Lol
Whatever the report is for its nice to see the price holding strong and steady this morning : o ))
Maybe they are just having discussions about disscussions
How long would this report take to prepare?
I'm pretty sure that if a bid triggered it there would already be a "the company has received an approach that may lead to a bid..."
And why would we be flagging up an EGM that is still 28 days away...?
However given that the informed articles said "May/June" this release may indeed fire the starting gun on one of the most eagerly awaited bidding wars for years...
And the longer BHP leave it, the harder it will get to avoid a battle with potentially several suitors...
Rien ne vas plus...
Item (I) in paragraph .....takeover bid DBW maybe....
Seems strange that this report is about Cascabel and on pg 95 there is section regarding QP verifying logging of drill cores. All seems fine except the drill cores listed are not for TAM. They are for Porvenir.(PDH) Surely this could have been picked up by the company. And there is not reason to. Ross contaminate data in such an independent report.
Eish fingers crossed you are right. Why wait till Monday though when Canadian markets still have two days to go
Anon3 and DBW, sincerely hope it is a "take over bid" that has triggered this required report! Have read about 150 pages, very interesting but a bit repetitive! Monday maybe D Day?
And the tsx ?? Woop woop ,!!!:)
Ooh here goes solgers ONWARDS AND UPWARDS GLA
Well there goes my weekend reading all this, quite an impressive piece of work, I do like page VIII/8 why the Roman numerals?
Has experience of open pit and the mention of another miner’s name, it seems our long wait may be getting a hell of a lot closer.
Well will see you all early Monday, hope you all have a good read and a relaxing weekend
Atb
They really are a bunch of pr**k teasers, aren't they?