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Fairdealer,
I'm not yet sold that the funding is fully about the CEO. The graphite market is in oversupply mode and general microcaps have been in a bear market, which has really reduced funding options for many out there.
I'm sure the CEO bit plays apart of course but think its ignoring how hard the markets are right now. I invest in dozens upon dozens of companies and have for many many years and a big thing Ive learnt over that time is that the wider markets carry so much weight.
Often rises and falls mirror wider market movements over actions of an individual company.
Now as stated, I'm not removing blame fully from the CEO either as the buck always stops at the top, no matter what.
In terms of funding, 1-2 years to obtain isn't out of norm with general markets, thats even for great projects.
The amount here required isn't massive, so that should reduce some difficulties.
I can't see this vote getting anywhere myself, but it might as discussed provide a wake up call to the BOD that they need to improve OR it might make them want to go private to safeguard themselves from such future actions.
I'm hoping its the first.
Fairdealer there was a website “Freetirupati.com”. It looks as if the group has run into trouble already as it’s been pulled down.
It had details of their proposed board and future plans, seemed similar to Shishir’s tbh.
Zan,
I am old enough and experienced to know a Rat, when I see or read them. These boards are infested with characters who have Agendas. The trick is recognising them. Likewise there are Company Directors who are less than honest ( they will only say what makes the reader happy). Again the trick is analysing known and sometimes obscure data to form an opinion. Sometimes it can be "gut-feeling" which tends to only come with experience.
Back to Posters, there are a few here whose background and agenda requires scrutiny. One amongst some appears to only post on this board and is a relatively new Poster who raises my suspicions.
In the end genuine Shareholders ( I discard Traders who have a completely different strategy to LTH's), sift the chaff from the grain and act.
You have stated concerns regarding the management of the Company. Is it going to change given the way events have evolved?
I repeat, Funders are nervious, which can only reflect on the CEO. Is the company to limp along or become more dynamic? I do'nt see it happening under the current Management Team. I do not see the possible GM changing much, because again, as stated, the Poddar Family have virtual overall control. Things could change if Shishir were to allow his ego to sleep and make way for fresh thinking which Banks would support.
Hi Fairdealer,
Well reasoned and not without many good points may I add, so thank you.
My main point here though is that a poster who is telling others that if the vote works, the SP will go over £1 very quickly is attaching themselves to the group and thus the group appears untrustworthy to me.
That same poster has been running a campaign against TGR for some time, often making multiple posts using same title to push down any other posts and manipulate views. Again, that doesn't sound or appear like someone I would trust.
Thats more infamatory to me than using the word coup, which in effect it is i.e., removing one leadership and replacing with another.
As it stands, that poster has ensured I wouldn't add my shares to any vote (although one may not even happen).
Everything else is not of interest to me tbh. We all know the failings here, but I dont believe this vote has anything to do with that.
Zan
All we, Ordinary PI's, know so far without sight of FULL details of the requistioning letter, is Walpole St Andrew Nominees on behalf of a group of investors, is a GM is requested on the basis to remove and replace named Directors. The full text of the letter will tell us all a lot more about the overall reasoning as will the detailed Proposition to be published should the GM go ahead.
Clearly the Group are seriously concerned as to how the company is being managed.Maybe those who post here and are part of the Group can declare their participation?
The use of emotive terms like coup is inflamatory as under Corporate Law Shareholders can act in concert given the required Shareholding, in requesting a GM. A GM cannot be called for some fatuous reason but have substantive grounds to put Resolution(s) before the Total Members.
I, for one, am unhappy at the style of management and level of competence that exists. My initial reaction is to support the group, but await full and further details of the GM and it's proposition(s). I am not part of the group at this point.
The Company cannot continue to be Managed in the amaturish manner being experienced.
It would seem potential Funders are nervious, which reflects heavily on the CEO and Board. If Shishir, with his Family's large shareholding, wishes to protect and enhance value, he should at least consider stepping aside. There are Consultancy roles he could undertake.
As stated earlier it is complete nonsense to bandy around 2000% increase in short order. It MAY happen eventually, but not under the current Management style.
Any serious long term investor wants to see a well run company that grows and generates disposable profits. The current incumbents, given their record do not engender confidence within the Funding Community. That alone tells experienced Investors, something must change.
A change of Management could not be worse than the present Directors.
Zan_TM couldn’t have said it better myself. Remember tomorrowtoday knew this was coming, he told us enough times. So he’s obviously involved to a certain degree.
Luckily I believe he has exposed himself enough times in this forum that his words don’t hold much weight. If Shishir or the board behaved in the way that this group has I’m sure they would be facing legal action, I do hope others cop on and will support the exposure of this coup.
I’m not looking forward to Monday but I was relieved to see no big sells off the back of the news of the coup, wouldn’t surprise me if the sells did actually come from the group to try and gain momentum.
Fairdealer,
I do think they, like all have to be held to account when required. Its not that Im a big fan of theirs as such at all or that I think they haven't been poor in some areas.
My issue here is two part.
1: I don't believe the coup will help the share price short to medium term at least
2: Investors who support the coup/seem to be involved in it are making topics with very misleading headlines such as this topics. That removes all trust in the process for me. How can I trust they are any better than what we have when they are happy to try to manipulate/trick you into something as 2000% rise to £1 very quickly isn't factual
Infact if the Poddars had made a statement like that everyone would call them out for it. Whys it okay for the coup group too?
Why did you invest then? TGR is and has always been Shishir’s. Ridiculous accusations, stevemc could be one of Tomorrowyesterday’s accounts.
Saluc, you’re one to talk. I wouldn’t be very surprised if this is Shishir himself, trying to use a fake name to ramp up his position. You’re naive to believe a word from Shishir if you really do. You’re either Shishir himself or one of his yes men or yes daughter.
A few accounts on here were created for one reason. To destroy shareholder confidence and to divide shareholders and the board.
1st example Stevemc -take a look and see.
2nd example Tomorrowyesterday - this is a quote from a post that he was “invested” in before TGR. “ I strongly urge anyone who's is shareholder to email the company and not just ask...but demand to know whats going on and why the silence. This share will now be pulled down to 30 something (or worse)... management know whats going on but they are keeping quiet. They are doing nothing to halt the drop...whats even worse is they are actually encouraging it by keeping the silence...” sounds very similar to the scaremongering on this forum.
Another from Tomorrowyesterday- “Still very cheap at 48.6p a share. Managed to get 30000 of these as a top up earlier today as its way over sold on 'fear following fear'.” This quote was about the same company as above POLX. SP today is - 3.75p
Do not trust these people, they have their own agendas.
Puruvi installed to improve comms and what do they do? Drop that RNS on a Friday afternoon!
Zan do you consider the Poddar Family are in an Ivory Tower and not accountable to anyone?
The Group taking action are clearly incensed and want changes. As stated earlier, doubtful they will succeed given the Shareholding Power the Poddar family hold.
As a VC have seen Board members removed for lesser incompetence.
If Shishir has any sense, he would step aside allowing Execs who command respect in the Banking community. That in itself would inflate the SP, not by 2000% as suggested, that is pure nonsense
As a note, its not that I wouldn't ever vote in favour if I felt it was needed, but posts stating £1 once done put you off taking it seriously as its pure rampy spin with zero logic too. The idea that removing the board and replacing them is going to give you an instant 2000% SP jump is nothing short of fantasy land and boarderline criminal attempts to manipulate.
If a genuine, not rampy, not state a stupid figure to trick case was made it might get more weight.
As it stands, tomorrows posts have confirmed that voting against the changes (if it ever gets to a vote), is the right move.
Fairdealer, Chinas export ban appears very smart as its reduced the number of purchasers of natural graphite and increased the number buying synthetic, which isnt banned I believe and which, suprise suprise, China sells.
In effect the ban created oversupply of graphite and helps keep prices low, forcing out many non chinese producers from the market.
Not the same, but they used clear stuff with Steel too previously to in effect corner that market by making it uncommercial for western companies.
Poddars have failed in many areas, but the price of a product in oversupply, isn't related to them.
Firstly I don’t think this will garner the support it needs to succeed. Have a quick read of this board and shareholders are deeply divided
What is true is that things have become a shambles, unrealised targets, terrible communications and a Board that raises many questions
So my hope is this will be a serious warning shot that simply can’t be brushed under the carpet and we get some serious action regarding the management and function of the company
Shishir and his band of naive kids being out of the board is going to be the only way to restore the company. I am sure that there are other competent management teams to take over the management in case Shishir's fragile ego doesnt allow him to be a part of the company after he is removed from the board (which I believe is in the best long term interest of the company, even if he ends up selling all his shares). Management and skills can be solved, ethics cannot. I am sure that when it is time for a vote, none of the large holders would want to see him stay.
Tell me, does anyone remember the last time Shishir Poddar said the truth? Does anyone here still take his words to mean anything? I for one believe he is a pathological liar, a delusional fool and / or an absolute conman.
Every sensible adult who has ever worked with him (including his own brother btw), has left the company. Their tenures becoming shorter with every new member. Find me another listed company, anywhere in the world where two thirds of the board is under 30. Find be another company, where people straight out of college, with no real world experience are put into board positions.
Also, sharing the raw data with the new potential board. I am sure they will find it helpful when they are trying to see Shishir's fraud. Once again, this is what he has done - sold graphite to himself at a much cheaper price than the market, bought equipment from his own company (that was formed mearly to steal from TG), blocked an agreed acquisition, quashed every adult who pointed at his gross misdealings and outright misled and lied to shareholders.
I do not think tomorrowtoday is a part of this group, neither am I. I think he is just happy to jump on the bandwagon.
I’m not trying to compare Syrah to TGR, just highlighting to fairdealer that TGR is among many graphite mining companies that have declined in SP.
Easy to listen to the complainers on here, they will have you believing the decline is because Shishir wants to take the company private or “mismanagement”.
Been a pretty sophisticated campaign against TGR for a while, including a few on here and on X. I’m adamant this is a coup. Do as much damage as possible, have shareholders question Shishir’s integrity. Remember how adamant Tomorrowyesterday was that TGR was being taken private, worse accusations about Shishir and his other business interests.
They realised we’d found the bottom and slight signs of a recovery so they had to act before SP recovered too well and they would lose the support off long term holders. Disgusting and very worrying for their sake to think that ex board members were conspiring with the likes of tomorrowtoday.
If it comes to words and targets TGR has missed theirs / performed worse than virtually all others. Shishir maintained the 6100-6500T q1 target right past the quarter and yet it was missed by a country mile, not even close to half. Q2 then came in even lower and after that we once again get quite bullish targets for H2 but so far , with the half year over, we haven’t even been given a hint of how either Q3 or Q4 went.
As it happens TGR in many ways are in a healthier position than many other graphite miners due to taking a low cost approach to their growth strategy, so whilst misses have been egregious the losses have remained modest but that doesn’t excuse the misses.
Shishir floods the airwaves when he has good news to share but goes into hiding when the opposite needs releasing and as of this point in time has shown no ability to turn the ship around.
However it’s hard to imagine the four that are part of the requisitioning group have what it takes either. So all in all a pretty miserable situation
Important to look at it objectively:
- Syrah burnt through $80-100m last year and appear years away from profitability hence it’s diluted it’s shares by factors over the years just to survive, and will likely continue to dilute, making previous highs likely unattainable for holders of it.
- TGR seems to only needs some sort of small capital as it’s stated before, to allow it to unlock its higher levels of production that should bring some decent cash its way rather than out the door each year overall by my calcs, do your own research btw.
Of the two companies, I know which position I’d rather be in as a business (TGR by far), important to note how and why each is different, here I’m more focussed on the underlying business performance prospects.
Syrah;s decline over 8 years amounts to 1200%
TGR decline over the last 3 years is 3000%
Many in Syrah will have lost hugely but nowhere near the level of loss in TGR.
The numbers speak for them selves.
DYOR as I do!!!
Yes it has, even bigger for some.
Syrah 2016 SP $6.05
Syrah 2024 SP $0.50
DYOR
So why have China restricted export of Graphite? Has the hit to which you refer led to other miners taking a 1500% decline in SP?
Was the suspension last year, the rapid resignation of Broker, an accident or pure Bad managment?
The continuing " imminence" of VAT refund, which for all PI's know is due to an investigation by Madagascian Authorities. WE just do not know.
Whose naive? Get real.
Don’t be so naive, most graphite miners if not all have taken a hit. Not an exclusive issue to TGR. Shishir is responsible for building the company.
We thought foul play with Tomorrowyesterday and a few others, turns out we were correct.
Shareholders/Posters need to reflect on the catalogue of disasters that have led to the rapid decline in the SP when the company has an exceptionally valuable asset.
There is only one person who ultimately holds reponsiblity, Shishir.
I support the Group, who have in train previous Board members who probably resigned because of Management issues and the Direction of travel.
Remember these past Board members will have much greater knowledge than anyone here.
However because of the Poddar's Holding it is highly unlikely they will be removed, unless, as previously stated, some improper activities have occurred.
Agreed Harchris that in terms of comms and actions the company has been failing.
And this might give them a nod that they need to improve as unrest is growing.
I'm not a fan of the action, but equally, they are still shareholders themselves, so not like non-related to the company.