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Saluc a genuine question, if you don't hold Shishir accountable for all these things what do you hold him accountable for? Only the positives, which I acknowledge too, especially in the first couple of years after listing.
The porr results so far this year have not been because of the weather, have not been because of a lack of tax rebate received, they've been because of other operational issues which him and his team failed to foresee, possibly because he's not involved and on-site enough. More recent numbers we don't have but if they are poor there will be some other excuse found or some other issue they hadn't pre-empted before.
I've followed the mining game long enough now to spot when there are issues out of a management team's control and issues because management are not smart enough and/or not quick thinking enough and/or not able to troubleshoot successfully.
Shishir strikes me as someone with many skills within the graphite sector but CEO of a listed company like this might be a level above his abilities.
Shishie and his daughter are millionaires for one reason only. They are stealing our graphite and selling it to one of their other companies. Is this is ehat you call a GOID businessman then your as corrupt as he is. You really are a piece of excrament saluc. Our investment is being robber from us on a daily basis right under our noses while you call poddar a good businessman. Poodar and you deserve each other. Dyor
So you say he’s worked himself up to be a millionaire in a few years yet he is a bad businessman, honestly do not know why the group hired you to be their frontman
Hold on I thought I was Shishir? Oh wait last time I was his brother.. thanks for you input, entertaining as always
Ahahahaahhaha pls send me a link to the “rich list”! Although troubling this continues to be quite the show
Yes it is disappointing when results are not met but I don’t hold one man accountable for the weather and other issues faced (i am not an graphite expert, he is), I also don’t hold him responsible for the Madagascan government regarding the tax refund. I don’t think that’s being ignorant I believe it is being reasonable.
How I decide to invest is by looking in depth to the numbers, not opinions.
Saluc, of all the stupid comments you have made on here your last sentence is by far the worst one liner anyone could utter regarding shishir being a good businessman. He has put TGR on life support while stealing our graphite from us. 5P a share from 150p. Pranagraf are loaded as they keep getting our graphite at stupidly low prices. Both himself and his daughter are now multi millionaires according to Indian rich list survey. All this in the last 3 years. Guess where the money came from? DYOR
DrewStevo, please do share your findings as its always interesting to hear about what others find.
'I believe judging Shishir on the next set of results to be ignorant.'
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Fine but that's really odd. Target for H2 is 7500T-10000T, in January it was reiterating that TGR have the resources to achieve 1500Tpm (i.e in that range), so why a year after installing 30kt capacity and with repeated claims that they can reach the above target with current resources (need capital to increase production to get to get close to 30ktpa production + build another 6ktpa capacity would you not judge the company on performance?
So you don't judge on share price, judging results is ignorant, what do you go by? Just his words?
I believe judging Shishir on the next set of results to be ignorant.
Zan I completely agree with you, hopefully only to be done as a last resort to keep the company afloat, if it even comes to that. I just wanted to say in my opinion the chances of this company going under are very slim, regardless of results meeting targets with such valuable assets not currently used for production.
I also agree it did cost the company in the way they acquired the Suni assets but I do believe it was the right decision, if the company had to secure debt to purchase the Suni assets would be even more difficult to secure funding now, I think this is what a lot of angry Shareholders are looking over. He is a good businessman in a bear market.
Yep the plot twists and turns and we’re none the wiser if this is to just become another oil and gas pump and dump if they sell all the assets off. Did some reading up on both sides and their associates in the city and now also worried what the new group actually intends to do. Torreaguas, I hope so!
It’s all noise and speculation at this point, we need some clarity and transparency
Very little left at 5.5, 5.9 for 100k
'You’re saying we shouldn’t give Shishir time because of low SP? Well there will be a lot of graphite mining companies losing their CEO.'
Are you being intentionally ignorant? I've said five times today that I'm judging him on the next set of results, not the share price. And yes the SP matters because Shishir took a gamble over the past fifteen months or so to minimise dilution and to grow in a steady fashion with minimal resources instead but the growth he promised isn't being seen and now he's left with a situation where dilution will dwarf what it would have a year ago if he'd just followed what others in the sector were doing and was more aggressive on the funding front when it was available and the outlook was healthier.
He fully backed himself the whole way as a man that lives and breathes graphite and as such is responsible for the current predicament.
Newbie here, Having read the last few rns I have taken a gamble and bought just over 115,000 today. I just cant see why there is so much negativity.
I get it that the sp has fallen, but this happens with hundreds of listed companies and shareholders on bb's get very peed off (understandably). I just think the current bod will have good news out before this meeting pakes place. It's a gamble.
I feel many may hold your view HarChris and as such, agree the next set of results could be pivitol.
While I wasn't expecting much from these results and viewed this project longer term, I feel many may not be so forgiving.
I won't be basing my decisions on the results, but can understand why you would, afterall who doesn't want to see progress.
Credentials of new proposed board are key for me. If they are proven money spinners, proven leaders, proven graphite industry experts, then it becomes more exciting.
@Saluc, for me, I wouldn't be to happy if Suni was sold off. Mainly because it is in my future a big part of future plans and required if the company is ever going to hit the heights its suggested it is aiming for.
Additionally, that asset has cost the company dear, first the purchase but then the resulting battery minerals distressed selling which literally wiped 50% off the SP as they sold out in just a few months.
Having gone through that pain, it would be nice to know it wasn't all for nothing. Although, that hope is maybe a luxury we don't have right now.
The market is suffering and has beeb for some time, but that to shall pass, as it always does.
My fear is kneejerk reactions to a bear market, destroying the future growth as we eventually enter a bull market.
I can happily sit on these prices for a year or 2 more without much worry, and I would much rather do that while we get things going and finely tuned than totally rip up the company. Be that via fire sales or replacing the board (at the wrong time).
I’d say it would be a lot easier to secure funding if the company announced it was selling off the Suni acquisition as we know it’s valued in the millions. Not even worth thinking about until we see the latest results anyway.
You’re saying we shouldn’t give Shishir time because of low SP? Well there will be a lot of graphite mining companies losing their CEO.
Shareholders seems to forget that the sale of assets is an option, they have stated it in an update. You’ve got all these de rampers and twitter experts slating the company for the last raise, it was the better option by far. There’s always a bigger picture
That’s all fair and reasonable Zan and is certainly how I would have viewed things had this come about six months ago. Whilst I agree it’s a risk for me Shishir is starting to look like the bigger risk with the outcome of choosing ‘stability’ inevitably leading to failure here.
Just my view and I respect yours. Im waiting on th me next results to decide what to do but let’s hope whatever happens it works out for shareholders like us sitting on hefty losses
Har Chris,
I understand your concerns but to me its more serious than simply "best option".
I've seen companies which missed target after target still get funding and I don't personally believe what I feel is spin that TGR can't get any funding with the current CEO in place. Worse CEOs have got funding.
The main reason funding is likely hard right now is because the markets are weighed against large cash injections in general. Esp given Graphite is in oversupply.
Now, as it stands the company exists. As holders we can sell if wanted. However, if inexperienced, unproven individuals (and Im not saying they are), take the helm, you add the risk of them messing it up even more and the company going under.
At present, and as a part of capital protection in a bear market (for smallcaps), that risk feels larger than staying as is.
I might have a different view than many, simply because I tend to view wider market influences as important and as a holder of dozens of companies, you do get to see market wide patterns.
The new group has to show how it will change and improve things over just not liking things.
They might be able to do that, but a twitter group only method isn't very encouraging that they are in tune with getting there creditentials out there as many don't use twitter.
Don’t mistake what I’ve said anyway, you won’t find me voting for this proposed resolution if Shishir delivers strong and positive full year results in the next week or so. Don’t you think that’s fair? Or do you think we should all just give him as long as he wants despite driving shareholder value lower and lower?
I agree but you do understand that that doesn’t happen overnight don’t you? It took around a year for the Suni acquisition to conclude, you don’t think a painful cash raise would be needed in the interim?
Forget net asset value? Nonsense, imho the worst case scenario is TGR has to sell off assets including the suni acquisition and work with Madagascan projects.
This is where I stand...
If results are poor then TGR are in trouble. You can forget net asset value or whatever, the share price goes lower and TGR will be needing to raise meaningful amounts of cash with a market cap of 4-5m and a track record of missed target after missed target. I simply don't see willing funders offering that cash with Shishir, Puruvi and Alastair running the company as a threesome without taking their pound of flesh and some.
These upcoming results need to be positive or a shake up is essential and as far as I can see this group is probably the only option.
Very possible Har Chris. I'm generally of the mindset that was isn't said is often more important than what is. Not just here but across the small/micro cap markets.
That doesn't mean I'm sold on the new group, basically because I haven't seen or been shown how they would improve things i.e. actual skill sets/abilities too and that is really, even above trust, all that matters when push comes to shove.
Anyone can shout "pick me first" but words don't mean much.
If the proposed board was listed with pre-existing achievements next to each name, highlighting how they would improve the company, for me, it might add more weight (although I still think numbers wise its a tough ask to expect to win).