Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Honestly. Move on.
Cash constrained
Market for graphite is under pressure
Management hated from shareholders.
Find a stock with a good story.
Fighting these 3 issues and winning is very hard. Too many people want to get out
Back burner job with this until this is sorted, effectively impossible to invest further at this point
Ooo Spill the goss HC - is he on here?
HarChris do you mind elaborating on what you’ve heard about the brother? This is news to me and I don’t believe he is involved in the current situation?
From what I know they have been trying to enact change behind the scenes for a long while now, including a fellow member of the Poddar family (you can guess who I'm talking about) but Shishir wasn't budging or engaging.
I guess this is taking the attempt to force some sort of reaction from Shishir to the next stage.
We are speculating and may well be way off the mark.
For an agrieved group to be instigating the action, knowing full well when push comes to shove, the Poddar Family have a majority of votes. The involvement of NEDs, says there are issues which they (NED) know about. If not the case and pure grudge, then the action will fail.
I still keep tgr on my watchlist incase they land some grant/ bank debt/ strategic investor - but i found it mentally tiring so started to look for other companies with positive newsflow.
Good to keep an open mind
I came to the conclusion that watching this is frustrating. I started to look at other things.
Pat.l is a miner suing the gov of india for.potentially up to 1bn usd. They are backed by a litigation company that wins 90pct plus of cases and their market cap.is 15m usd
I had alot of pain here. Maybe look elsewhere for the multibagger
Possibly although I don’t think this is the route they would take if they had proof of illegal activities.
Maybe, except they may be keeping their powder dry and wish to openly question Shishir without leaving themselves open to Libel Claims. Do'nt forget the NEDs know far more than anyone!!
Fairdealer if they had evidence of wrong doing they would be shouting it from the rooftops, just look at their twitter page, they’re not shy.
IMO the fact that the NEDs are willing to take this action proves the business models viability.
A nervous wait at best.
Just as the SP begun to stabilise we could do without more uncertainty. But as has been the way over the past few months it circles back to Shishir - no trading update and no promised investor meet, RNS virtually promising the VAT refund which still hasn’t materialised
I don’t think ousting a chief executive who has so many shares is a good idea, however, the larger concern is why the NEDs who left are looking to do this - what do they know / have seen which we aren’t privy to - it’s worrying
The question is does Shishir have control over the way the concert group votes or is it split 50/50 with Hemant? If the latter it throws a spanner in the works.
Food for thought.
The Action Group will know given the Poddar Family Holding, propositions at a "possible" GM, are unlikely to pass, unless they ( Action Group) have evidence of improper activity???
Harchris your question is totally reasonable and one which I at this point have no definite answer to. I have asked the exact same question to the twitter group and am awaiting a reply. To me....Reading between the lines I'm thinking they are saying the board will be romoved from their current positions within the company and although they will not be sacked they will still be part of the Company though without as much power as they currently have. Again I am not completely sure what the twitter group mean at this time. Its possible they may also mean that if they find Shishir has committed illegal actions then he will be removed indefinitely though until such time as the investigation takes place and answers are gained, he remains with the company though without the same authority he currently has. Time will tell. I honestly think having this meeting will, even if it doesn't succeed in reprimanding shishir, it will give him a good hard kick up the backside to get our house in order. He has stolen TSG from us. That's a given. Wether he returns it. Well if the twitter group win then I'm 100% sure we will get TSG back . DYOR