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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.
I read rns correctly.
It is similar to last appointment. For broker who tried to issue and converible and then resigned in a matter of months when it was not executed.
Each to their own. Wishing everyone luck.
I will monitor and happily enter if they do raise the money.
I am only interested once they prove they can get cash
The company is certainly, publicly, trying to do things - and be seen to do them - more professionally.
The only thing TGR needs is cash. It has everything else it needs in order to be very successful and have a MUCH higher mcap. I remember thinking it was a good buy at 80p. We are only way down here at 6p because of a lack of cash.
I do not doubt that TGR will raise the cash they need to expand further and ramp up production one way or another. It's just a question of when and how, and as others have said, I would be surprised if they raised down at this low level of SP - especially as there is an expectation of a significant VAT refund coming in shortly to tide them over in the shorter term.
It is very admirable that Poddar has sought to avoid dilution as much as he has. In this company's case though, funding really is going to be a necessary step to unlock the potential and accelerate its growth. It would help to unlock its clearly massive potential, given it is sitting on - and starting to produce from - a huge resource of something the world really needs and which is only going to become more valuable.
CMC are no small fish and would not go near Tirupati if they saw any problems and they would have done the necessary checks . Also Pobar has said many many times no dilution .
We want investors CMC fits the picture IMO )
Shishir makes no bones about raising, they can’t pretend to aim to reach 400000tpa organically self funded! They will however look to show significant operational improvement and hence rerate before going back down the dilutive funding route.
If they can get the share price back into the teens I’d expect a raise but not something to be too concerned about at 6p imo.
Anyway, one more step towards professionalisation.
Interesting the Australian connection is highlighted they value graphite companies much differently over there perhaps the valuation disconnect will become more apparent through the new broker.
Maybe you should read the RNS again correctly
As i said.
Appointing joint broker so looking to raise equity or convertible.
Same when they did last time, and they noted convertible in accounts. The convertible raise failed and the last broker resigned.
This was reason for so many rns
Excellent news , even better than the director buy.
Next week vat refund and we are off.
I've been toying with what to do here, but have been chary about putting more money in as I'm just nursing my bruises from SED having gone base over apex and sinking probably without trace. However Chellybaby and Plazahot both making positive sounds got me motivated and I've followed suit and got my average down to something a bit more sensible.
Thanks guys!
Fingers now crossed the momentum gets going for us all.
The narrative seems to be much more positive with a nice upward tail forming on the 3 month chart so happy to start adding again cautiously
It seems to all be coming together , just hope for a little more positive news and we can relax.
And don't miss the rising large and jumbo flake prices, the majority of TGRs basket in Madagascar - they continue to buck the trend and are up over every timeline. See Flake Graphite +195 & +895 in the link below:
https://www.asianmetal.com/Graphite/
Well done for some of you buying at the 4/5p mark stand a decent gain now, momentum looks to be picking up. Hopefully this is the end of single pennies share price, need some long term funding certainty now and should jump. And ill pick up some more at that point.
The corner has definitely been turned and confidence is back with a director buying.
£14k is not to be sniffed at.
He would buy to lose money.
More news is coming and they know what’s down the line. This is a multi bagger for sure and it won’t be long.
That’s nice of you to give me a shout out!
Long way to go still and *much* improved management is needed to see anything like a recovery but at least this past week has given reason to be a little more optimistic.
All going well we’ll be looking at a different proposition altogether in six months 🤞
Glad to see this, I think they’re lining things up nicely now and am adding from initial entry, some momentum building it seems
I know we are not out of the woods by far , however thanks to several posters positivity on this boards has helped
my sanity over past 7 months or so . HarChris in particular
Well done Chelly , I also averaged down last 2 days as I thought the tail has finally turned and thought
this was the best way in getting some of my paper losses back.