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Thought the IMC Q&A was quite good all things considered. Very comforted to see just how much there is actually on the ground in that video, a far cry from what some have claimed on here and elsewhere is meant to be basically non-existent. The pre-concentrate units looked particularly novel but interesting.
Again on top of the RNS clarifications recently I was grateful for some further clarifications related to related parties. Encouragingly there seems to be a commitment to getting TG into the downstream. I’m perplexed this has taken so long in any fashion.
And good to hear they’ve been advancing talks for new directors and CFO. Imagine if they had been able to appoint people without having this requisition in place, again a reason I believe the FTG group chose their timing carefully but deliberately. And Again a reason I don’t believe the requisition group and their own related parties/interests they represent carry the true interests of shareholders in their hearts.
Company just did a tweet this evening that some US government representatives have been to the projects site, pretty interesting timing if you ask me following the US tariffs on graphite.
My vote is still against the resolutions. Still to be convinced otherwise, and some questionable tactics online not helping the FTG group cause.
Well after that I know he’s ’on it’ but what is he on? Wasn’t impressed, video was terrible. This whole middle man thing with Pranagraph is far too vague, it reeks of conflict of interest and if I’ve understood him correct funds have been reallocated (having been raised to merge?) Lot of ‘jam tomorrow’ I’m afraid
I didn’t find the whole Pranagraf thing too vague. It’s an intermediary for the Indian market, and a customer that uses graphite itself. Both mean TGR sales are higher than if it wasn’t involved. Not bad, don’t think this is found anywhere else apart from maybe Japanese trading corporations.
As far as conflicts go, it’s absolutely incredible I’ve seen yesterday a disgruntled brother (Hemant Poddar) and his son (Harsh I t Poddar) have come out on telegram and appear to me to have been manipulating the whole London market because of the threat facing their own fully owned other interests by TGR and Pranagraf. Why does no one ask why are we listening to them and what their interests are, why are they trying to drive this? These people have setup rival graphite operations in India/Tanzania, seemingly whilst Hemant must have been a Director at TGR (big red flag and did/do previous directors know this?) and are actively competing against TGR, and Pranagraf seems to be outcompeting their other Indian intermediaries. Why do you think they are happy to say and do whatever it takes to disrupt the current setup of the dominant TGR/Pranagraf setup?
Very clear to me. They, and only they, benefit the most from disruption to TGR & Pranagraf’s progress.
And obviously they need front men in London so they choose the questionable brokerage to work with, and someone like Mark Rollins who has demonstrated he doesn’t care about shareholders. He helped raise and burnt through over £20m while being paid of $420k all in a single year at Advance Energy in 2022, see Beacon Energy’s annual reports. All that with nothing to show for it, no revenue no assets, why risk that happening here?
Don’t be a Turkey voting for Christmas, if I was a shareholder I’d vote against the resolutions - they stole my money at Advanced Energy. Don’t let them do it again here.
I listened to the webcast. I thought it was rather shambolic and amateurish but I feel their passion and desire to turn things round so my feeling is that, at this stage, we need to give BOD a chance to pull it off. Changing the board at the bequest of annoyed family members is not IMO the way to get value out of TGR so I have voted against all the motions put forward through the HL shareholder meetings tag. GLA
That comment right there Barry is the problem in a nutshell.
Shishir has always had the passion and desire to make TGR a success but this is a repetitive cycle. We've learnt over time that passion wasn't the issue, it was competence. He used the same tactics all the way from from 40p in mid 2023 to 4p, reassuring shareholders via email that he will turn this around, meeting any shareholder in London face to face that arranged a sit down. Every time he has exuded the same passion and slowly the whole building has crumbled to rubble and still he says the same things.
I've no doubt that Shishir is well meaning but he's also almost certainly incapable of getting out of this current mess. Are the new group capable of it? Probably not also, this is a horrible market to be so cash constrained in, so there's few good options here unfortunately but at least with change there's a chance, there's a chance for the capital markets to open up to more credible business people, there's another shot.
If the resolution is rejected i suspect the group's holdings will be sold off with it and possibly Optiva's too now, compounding the problems further.
Isn’t it a matter of any of those funding options coming through? Categorically VAT refunds? Or is there more to it?
Sensible comments Chris. I don't disagree. It is a mess and Shishir must take responsibility for getting the company into this state. But I guess we are where we are. I certainly couldn't fault any shreholders who feels that the time is right for change but the question is what is the best way to effect that and is it already too late. We could really do with the VAT repayments coming through smartish.
I’ve just watched the presentation again and what comes across to me aside from the obvious passion is the recognition from Shishir regarding the absolute necessity of appointing independent NED’s and a London based CFO. Particularly striking for me was when he said he’d designed the financial models for DFI’s and that “As a Chairman of the company I really shouldn’t be doing that!” My own opinion is that they know they are fighting for their lives here..AND I believe that if they win the vote then greater delegation and independent oversight will happen. It’s not guaranteed for sure but when I look at what they have achieved with such limited resources, then I’m truly of the opinion that getting solidly behind the BOD by voting against the resolutions will ultimately bring value and drive success for all shareholders.
We are seeing what the market thought of the presentation….. zilch but hey could have gone back down so grateful for small mercies