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The RNS does not say when the letter was received - could have been some time back. Releasing this latish on a Friday is an indication of the sort of management we have here, I fear.
THIS WAS 73 PENCE , EXACTLY 2 YRS AGO,,, if they have doubled production,why have they done such a bad job and the share price is in the toilet waiting to be flushed???
A shot across the bow most likely zan. They only hold 5.8% of shares so they really don’t hold a lot of weight
Smacks of the inevitable to be honest but perhaps no bad thing as it will certainly shake things up a bit and it might draw out some transparency
One things for sure they won’t be able to continue as is!
They don't at this point have to hold a meeting. First, it has to be proved that the request is legit and those stakeholders actually do own that much.
I still find some of the details odd. Isabel (again) was on the board and is from a PR company. That PR company can takes shares for work carried out. I'm not convinced that is a look the PR company (st brides partners) would want? I.e., being part of a internal takeover of a company your staff member was on the board of as that could lose trust with your other companies on your books.
So many details are still so vague at this point its hard to tell the aim of the group i.e., do they really think they pull it off or is there aim just a shot across the bow?
When was the letter received ? Lack off news suggested a while ago and now they have no choice but to hold a meeting
What did they expect when appointed a bunch of kids on the board
Davey, this move by a group of holders would tank most companies in even a bull market imo.
The market hates uncertainty and nothing screams it more than a companies own holders trying to remove its ceo and largest shareholders, which I'd be certain they will fail at doing.
As another point. There has been a lot of talk about could/would the Poddars take private, to which I think its all been nonsense, however, moves like this surely would make them want to more.
Its been a mad tough market for small caps for 18 months now, but trying to do a coup on the company, surely that will only do more harm than good?
100% the Poddars have failed in several areas, but equally there knowledge has assisted too.
Just poor at comms imo, thats prob there main downside.
Makes you question the whole point of holding shares atm, good news no rise and anything remotely iffy or negative and they get smashed. It was looking so strong the other day too
In addition the list of names proposed was interesting. Isabel for example only resigned recently. You would imagine all the names have been spoken to prior and confirmed their interest in coming onboard, but at this stage who knows.
I personally can't imagine it doing much good at all to the SP in the short term.
Longer term it might give the Podders a kick up the behind and make them more aware that they need to improve comms with shareholders which would be good.
Interesting RNS and looks like things could get messy here in terms of legal battles and shareholder disputes.
I'm no longer invested but will be watching with interest. If the current board is replaced with strong independent directors, then the shares could be in for a sharp recovery. Alternatively, a new board could uncover some skeletons in the closet which would be bearish for the shares.
Let's see how it plays out and GL to those invested.
Well was nice while it lasted but didn’t even make a day!
Very positive
Numero 7 (8.70%) 😁
Id ignore almost everything from there. TW is a well known shorter and scare mongerer.
Anyone with any business or stock market sense even in the slightest would know that sacking your full board, who own a decent percentage of company shares without an amazing plan ready and waiting is prob the quickest way to destroy whatever is left of a share price.
Then, once the dust has settled on the news the company has no leadership or direction and most operations will experience long delays, those old owners start selling out there shares, applying an absurd amount of selling pressure and taking out any chance of an upswing for months upon months.
Checked the bid and it's 5.86p so well over mid price but one mm has sold 300k at 6.25p so they would love them back at 5.86p. NT to buy now, could pop but it's a bit quiet unless it gets on the leaders board
300k buy pays 6.25p when there was 4 mm at 6p and you buy smaller amounts at 6p so they must be confident
https://*************.com/views/74167/breaking-sack-the-board-call-at-tirupati-by-a-serious-team
Right now TGR have to be thinking smaller. The cost to finance the Suni assets in Mozambique is simply too high, it's off the table realistically. What needs to happen is for profitability to be reached across Sahamamy and Vatomina without further dilution, that would then open up the financing options (minimise dilution) for expansion to 54k and with it considerably increased profit generation if executed successfully which would then open up further finances for Mozambique, especially if the environment by then is more favourable.
Pull off the above and we're talking a share price in the pounds rather than pence, fail on the first part (which is needed) and the cost will be extremely painful.
Thanks for this.
Hard to see anyone wanting to finance the new assets then. Wait and see for existing operations.
When i spoke to ceo he was hammering on about the oncoming graphite defecit. But not responding to these negative price dynamics at all
Currently TGRs basket size for what they are selling in Madagascar is made up of 90% large and jumbo flake and this market has remained resolute with TGRs selling price likely to have actually creeped up year on year rather than fall.
It is true that small battery grade flake remains under pressure and may do for the considerable future. This is relevant as it's what drives sentiment across the whole graphite space as well as affecting the viability of TGRs Mozambique assets however in terms of simply achieving a profitable enterprise in Madagascar prices are still supportive.
https://www.asianmetal.com/Graphite/
See Flake Graphite +195 and +895 ^^^
Looks like market participants need to value to ECG aspect to natural graphite but at the moment nobody cares and the chinese are flooding the market with synthetic graphite.
Hard to see margins improving until there is some policy change or demand expansion
The latter seems to be under pressure as well. 2nd hand tesla prices are tanking
This is the only real source of pricing data.
Seems like synthetic graphite is drowning the market
https://www.fastmarkets.com/insights/natural-graphite-under-pressure-from-synthetics-amid-oversupply-slow-trade-flows/