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I did 4 times.
Reasuring me of no raise until it popped out in rns!.
Here is the interview for those interested - https://tinyurl.com/2xsg37uk
watch the most recent interview with alastair bath on *************. what you would find out from doing some research is, he’s available to talk to prospective and current investors regarding tgr and also the wider graphite market. to top it off he said he is available in person.
what more could you possibly want? if you have any real concerns speak to him? or more than likely just keep deramping tgr in the forum..
Foul play could include
Stating no placing multiple times. Then doing one
Doing one on one calls to assure investors while knowing you have severe cashflow issues.
Trying to get a convertible done while stating no dilution planned.
Feel free to go by the headlines. But they have told you they need capex to get production up. You might get lucky and graphite prices spike but sadly this is not a case of just increasing output
I believe the same was said regarding the HY results just before new year, the absence of a production update is frustrating but a bit presumptuous to say it’s because they are hiding poor results, laughable that you would bring “foul play” up again.
From the half year results - the most recent one made available to us. What were they hiding…
“Revenue from sales increasing by 170% to £3,146,627 (H1FY23: £1,165,195).
· Production increasing by 160% to 4,508 tons (H1FY23: 1,731 tons).
· Gross operating profits increased by 106% YoY to £780,328 despite enlarged workforce and establishment costs for enlarged capacity.”
The absense of update tells you what you need to know.
If they had good news they would have put in rns, instead the put out 3 fluff RNS.
They are going to miss target i suspect
DReal agree has navigated us through a difficult year . Just needs to get us through this one and I believe the share price will fly . Also the VAT refund would put us back on a positive road back to growth and a profitable company .
You look at the Syrah results from 2023 and compare them against TGR m. It certainly puts things into perspective and i have been critical of Poddar but he has transition his way through a tough year.
It can only get better for the graphite market… hopefully 2024/25 is the year for #TGR
The lack of comms from this company is a disgrace.
It's been five months since the last production update and almost a month since an investor meetup was promised in the "very near future".
A company in the early stages of production should be putting out quarterly updates at a bare minimum especially when previous figures fell so far below expectations. An explanation of how supposed graphite experts overestimated the head grade by 50% would be useful too, surely accurate figures would have been essential in informing the decision of whether or not to mine in the first place.
All in all it's hardly surprising that some people fear foul play.
I have emailed the Poddars expressing my concerns and will report back if I get a reply.
So graphite prices are reportedly rising it seems. If TGR can ramp it’s production would its margins go over 50% if the level of production was at their target?
In the last interview when asked about 1500 the lady just deflected. Even if you breakeven you are stuck.because you need concentration units to get higher output.
Bite the bullet and try and find a strategic offtaker, which is the approach every other company has taken
The next set of results are really very important now. TGR should be able to reach 1500Tpm without additional funding, the £m they are looking for isn’t specifically for ramp up, it’s more for working capital (cash put aside to pay CLN coupon, to be able to attract a reputable CFO etc) so these next results need to show either (i) they are now at 1500tpm or (ii) they have at least ramped up to break even level (~1100tpm).
If they show no improvement on H1 production whatsoever then it’s hard to imagine future funding will be anything other than painful.
Because shard were hired to do the convertible. It was in the results
Probably they put effort into it, company would not adjust the pricing so they walked.
This is same thing. Trying to find new shareholders.
Problem is ceo has never hit a target so people dont want to give cash!.
Shard Capital appointed broker 16th November 2023
Placing 17 January 2024 AM
Shard Capital resign 17th January 2024 PM
I recall seeing some analysis on AIM company announcements as to the average number of days between the appointment of a broker and a placing. Is the share price rise last week an indication that it could be sooner rather than later?
His family drained business paid too much 4 failure, uninvestable
Bought a little more today, does anyone have a link to graphite prices? Saw a suggestion they were rising but not sure where to check. Thanks.
The only thing more unfathomable than the incompetent/destructive behaviours of the founding family here is the willingness of some on here to look past it and see positives.
The lesson of the last couple of years is that no assurances from the Bod an be trusted (incl, imho, the "imminent" VAT refund) until backed by evidence. None is ever forthcoming. Perhaps the long trailed VAT refund will arrive next week, the co will turn cash +ve, and the SP will rise eventually back over 1. Perhaps.
Otoh, perhaps a thinly denied raise will give enough cash to struggle on for a few more months, perhaps the VAT refund will turn ou to be less than promised, . Perhaps our new NED wasn't privy to everything, and/or failed to do enough DD b4 purchasing.
i can't fathom it ; the +ve side simply doesn't match the history. the -ve side accords perfectly with the pasty, but seems almost too surreal to be true. Whatever the truth is, the uncertainty means no new investor in his right mind is going to take a punt here without a LOT of DD, far more than is publicly available to investors.
Review it
1. Vague rns on market
2. Detail of high grade product but small volume
3. New ned makes tiny purchase
The we appoint broker when short of cash. Last time we did this it was to attempt convertable.
Signs are there. Just remember, review past videos and watch ceo almost laugh he would not do dilutive equity placing and then do it.
Do you know the history.
Sashir did around 4 interviews saying no equity dilution.
1. Appointed broker
2. Released in results in back pages details of huge potential convertible issue ( by mistake). Then played off that is not equity dilution it is convertible
3. Then broker quit
4. Then did equity raise.
The ceo said no equity raise until blue in face and did one, while trying to line up a broker to do convertible at better rate
They don't need another broker just to do a basic small placing like they did in Jan, that happened with Optiva alone. Shishir is also pretty nimble when it comes to equity raises, never has it ever been signposted, they always come out of the blue. There's just no way that the time they are in the most danger of sky high dilution (£1m would be 15% dilution around this level) they would signal to the market their intention. No way.
What the purpose of this broker is I can't say though. They have been accused (fairly) of poor corporate governance with only those falling in line with Shishir still standing and even Optiva, their broker, having close connections to Shishir seeing as their ceo founded Tirupati with the Poddars. So perhaps this is the start of getting their house in order and targeting institutional investment?
Now why would a cash strapped company use scarce resources on appointing a second broker, I wonder?
I find it hard to see a +ve side to that. The NED share purchase looked to be a good sign, but with this following on its heels, I cannot fathom what's going on. And still no news on the "imminent" VAT refund from 7 March.
Is the NED as far out of the loop as we are? Given the history of governance here nothing can surprise me any more.
Feels like some people seeing what a gold mine this could be! Are graphite prices rising?
If the new broker attracts investors i would be very happy. It just allows them to move on.
But normally they place at a discount so might as well wait and see.
Gallimat, agree. Brokers are there as a conduit to acquire investors, Corporate and Private.
The thing that matters here is real traction for the SP not dilution.