Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Started: tomorrowtoday, Today 22:49
Last post: tomorrowtoday, Today 22:49
Finally received an email from puruvi poddar (shishir refuses to answer our questions and now passes everything from us on to puruvi) who stunned us by not only Not apologising for taking weeks to get back to us, she went on to hint (heavily) we the shareholders are being called upon in the near future to support TGR in its plight to stay in existence. This only spells one thing - dilution dilution dilution. I am now seriously considering selling a large percentage if my holding in order to purchase it back 50% to 75% cheaper once dilution comes. We have asked her to explain how much she intends to dilute us all by. We don't expect a reply anytime soon as she is so full of herself though you never know. Dyor
Started: tomorrowtoday, 18 Jun 2024 07:41
Last post: Genghis15, 19 Jun 2024 11:46
I wouldn't trust the current asset figures much. It will include the "imminent" VAT refund, for one thing. And given the chaotic state of TGR finance function and the fact results were unaudited, imho they're completely unreliable, just as everything about TGR has been for the last couple of years.
Cash has always been my concern but I am very wary of actual production figures given all that has come out recently. I would also think anyone providing cash will need persuading of that
Production has highly likely ground to a near standstill, it's hard to imagine the declining trend is going to be reversed without a cash injection and we were informed that operations were currently being run 'intermittently' ... Shishir never underplays anything. We saw Q1 - 2371T, Q2 - 2137T, Q3 and Q4 averaging 1294T each so I think at best the H2 numbers are being seen currently.
Fair point about the current assets Saluc, that'll be what's keeping TGR going for now. Cash of just £189k was never going to last long but selling of the inventory increases the cash runway considerably longer and anything left will be paying off long overdue creditors.
It does say in the full results under current assets - £1.2Mil in inventory, also over £600K in trade receivables. But yes would be good to know the current production status.
The biggest concern for me at the moment is what are the production figures? As we saw in the figures the second half of the year was dreadful for production, the working capital facility still has not been sorted - what are the production and sales figures going to look like in the next trading update?
Started: tomorrowtoday, 18 Jun 2024 18:13
Last post: tomorrowtoday, 18 Jun 2024 18:13
Shishir will dilute us all...he's done it before and had no fear of doing it again. At this stage he has no choice. What gets us is that he keeps on saying cra.. like 8% global bull.... and expects us to believe this nonsense. Problem is some on here actually think this tripe is a maybe. Ha ha ha ha ha ha... is what we say to you who think this guy is being in any way real. He has no capacity for honesty. It's been shown time and time again...hes a liar and a thief. Nothing less nothing more.. we will be diluted to 1p or less. Dyor
Started: Ilovesushi, 18 Jun 2024 12:13
Last post: Cigam, 18 Jun 2024 13:45
I can't see Shishir selling out on the cheap after winning the recent shareholder vote. However, the business is in desperate need of strategic investment so they could take a stake in TGR and provide some much needed capital.
That does mean dilution for existing shareholders but IMO that's inevitable if the business is to recover. No lender is going near it without stable production and signs of profitability.
An investment firm led by former Xstrata CEO Sir Mick Davis has thrown its weight behind the Molo graphite development in Madagascar.
Vision Blue, the firm that Davis founded in December 2020 to invest in battery and technology minerals, has selected Molo as its flagship graphite asset, agreeing to a $29.5-million financing package to fund construction of the mine.
Expect eyes on possible purchase of TGR investment by Vision Blue to add to their Flagship Molo project. Good time for them to strike.
Started: whatwhatkid, 14 Jun 2024 13:35
Last post: Gallmat, 18 Jun 2024 02:21
Exactly.
All the CEO needed to do was raise some friggin working capital.
Be more professional so institutions would throw cash at him for a critical mineral.
But no he runs it like a family sweet shop.
Such a shame when all other CEOs can manage cash, engage professionally. Guy is just an idiot so nobody will deal with him.
Btw we will be 8pct of world supply!
Shishir scrapping for pennies
https://www.miningweekly.com/article/nextsource-inks-91m-mandate-letter-to-fund-madagascar-graphite-expansion-2024-06-13
Started: AkhtarShaikh, 12 Jun 2024 14:39
Last post: broomtree, 13 Jun 2024 19:07
Think that boat has sailed but the market can always surprise! Nothing about finance going forward or indications regarding production questions? You’d have thought they would have come out fighting having got the result…..
It's because they think there's no exception to the rules, they think what they've seen occur across the small cap space over the past few months is a guarantee of what will occur here and so they think anyone holding is dumb and clueless and simply tossing their money down the drain with 100% confidence.
I might lean bearish and agree more with the above view but the smart amongst us know that market moves and market outcomes are incredibly hard to predict and most of us get as many wrong as right so what's the most dumb and clueless is going around thinking you're 100% aware of what's coming next!
It's funny how many posters on these boards seem to think that every investor MUST think and act how they do.
Everyone has different strategies, investment horizons, risk levels, portfolio make-up, etc as well as different views of every company they are invested in or considering investing.
Why the obsession with what others are doing? Unless you are trying to influence them to buy or sell, of course
Let's just wait for next news. As posted before, now the vote is out of the way the management needs to deliver on the trust given to them by the majority by putting the right team in place, sorting out the funding and producing at the levels expected
Going private or a discounted raise......1 - 2p
Company had 180k at the end of March 24 so its desperate for funding, cant understand why people still holding here when you can buy cheaper soon.
1. if they had to take it pvt, they would have already done that. why take shares against cash payments owed? might as well have put the company to administration then. the fact that didn’t happen doesn’t support the taking it pvt theory now, does it?
2. why go through the entire effort to stay in command if meant to go private? some say to prevent info from being public. then why appoint michael (an experienced auditor) when you’ve got something to hide? makes no sense.
3. those of us who believe that someone as senior as michael would have come on board without the company having a proper plan are being too naive. or are we to strip him of his credibility as well now? he has access to more info than us, no? and given his background, he would know when it’s a **** and bull story
it’ll be good if the fear mongers rest for a bit. and actually give the new board some time.
Started: MosquitoSqudron, 12 Jun 2024 16:44
Last post: MosquitoSqudron, 12 Jun 2024 16:44
For potential investors who are thinking of investing in TGR ....DYOR. https://www.youtube.com/watch?v=Jbf-cQ4HESU
Started: MosquitoSqudron, 12 Jun 2024 14:39
Last post: MosquitoSqudron, 12 Jun 2024 14:39
Looks like 5.20 & above are buys not sells. just saying.
Started: MosquitoSqudron, 12 Jun 2024 14:36
Last post: MosquitoSqudron, 12 Jun 2024 14:36
Good news and IMO support of confidence in the company going forward... with new appointment today of Michael Lynch-Bell as the company's new Non-Executive Chairman & with good result from the vote at the General meeting. I just got back in.
Started: Monkey79p, 12 Jun 2024 13:31
Last post: Monkey79p, 12 Jun 2024 13:31
@freetirupatigraphite Twitter account has now deleted
Hopefully this signifies an end to the misinformation posted on this board!
Started: tomorrowtoday, 12 Jun 2024 08:25
Last post: HarChris, 12 Jun 2024 12:49
That was my thinking, although they'll also be aware that a stampede for the exit will do themselves no favours so perhaps, even if they don't have an agenda, they'll sell down gradually and hope Shishir pulls off a reasonable finance deal in the meantime?
It will be interesting to see if they sell off, if they believe what they have been telling us, that TG is doomed unless they win the vote surely they will cut their losses now before it gets even worse. If they hold it almost proves they had an agenda
Following the last trading update and all this recent upheaval i expected the SP to crash well below what it was at the time (which was about 5.5p) so fair play for that. The market hasn't written off Shishir just yet that's for sure although those unhappy with him, holding 38m shares, might make things difficult if they start selling.
You say that while the SP is up 11.46% - at the time of writing.
A few that voted in favour of the group were expecting a crash today, they were convinced by the group it was the only chance of success.
I agree that there probably is a lot of holders not confident in current management but they saw through the groups promises, “vote us in and we’ll take you to the moon”
And if you strip out Shishir/FTG/Hemant/Optiva there's around 80m shares remaining.
So 7.8m/80m = 9.75%
Last post: Apotheki, 12 Jun 2024 11:47
Well according to yesterday evenings RNS they almost were ousted as the final votes were circa 55%/45%
So hopefully the lawyers Bird & Bird will finally do the right thing and make sure that Shishir and his daughter now make all the necessary corporate governance changes required [and demanded]
£28,000 worth of shares brought today.
TG in a stronger position tomorrow than today with new Chairman appointed.
End of FT twitter campaign (hopefully)
But yes I won’t be topping up until funding secured.
Like you expressing your own views, I and many others have only been doing the same, based on what we see as having gone on in TGR, and not ramping or deramping. I do hope the new Chairman will have an effective and construcitve role to fulfill, and not HAVE accepted the position just to make a few bob out of it.
My only hope is that the SP doesn't go through the floor before I too take my exit. Maybe all the diehard supporters like you will be taking the opportunity to top up with the SP as low as it is, and give it some support?
1. Glad this EGM is over. Hopefully now there will be less ramper and de rampers on this board and more, constructive fact based comments.
2. Tough times coming up with coupon payments, funding and people exiting that voted against the current management.
3. Silver lining, new well regarded non exec Chairman is now in the company. The company can now focus on raising funding.
4. Given the chairman’s background I assume he would of not accepted this position unless he saw a plan for the future.
Started: DarrenKeery, 12 Jun 2024 06:05
Last post: Apotheki, 12 Jun 2024 11:45
Well according to yesterday evenings RNS they almost were ousted as the final votes were circa 55%/45%
So hopefully the lawyers Bird & Bird will finally do the right thing and make sure that Shishir and his daughter now make all the necessary corporate governance changes required [and demanded]
How much if that 48% that Shishir got came from Shishir himself? That vote was a horrendous split (like Brexit). Nowhere near large enough for Shishir to have a mandate. 38% off his shareholders don’t want him and only 48% do (remove his vote and will be significantly less) plus some of that 48% were put off by the alternative.
Am I right that some of the requisition group hold the CLN’s so will be calling the administrators in a few weeks anyway?
I think highs is a stretch particularly in the short to medium term, given my initial investment was at 105 and others will be similar, but it would be good to see this being properly managed and at least in the short term start to achieve what those who invested at the earlier highs were expecting to see when they put their hard earned in.
I totally see where the long term holders are coming from with their gripes. This does have the potential to be a profitable company and the outlook in 2-3 years could be rosy if they get the next 2-3 months right.
What is the true value here? Only time will tell. Not making any SP predictions, but the potential suggests it should not be at these levels.
Funding, stability and delivery will change that
gla
Morning all. the vote was interesting. they scraped through but if this wasnt a wake up call for them and a good kick upthe backside I dont know what would be? They now need to get the company in order and sort it out in the next 6 or 12 months. If not this group will be back again and win if things havnt changed for the better. This could be such a good company and SP could be back to highs. I guess we will have to wait and see??
ATB
DK
Started: Saluc, 11 Jun 2024 19:03
Last post: Apotheki, 12 Jun 2024 11:41
Well according to yesterday evenings RNS they almost were ousted as the final votes were circa 55%/45%
So hopefully the lawyers Bird & Bird will finally do the right thing and make sure that Shishir and his daughter now make all the necessary corporate governance changes required [and demanded]
So, was the drop today based on the market seeing or fearing one side winning over another? But which one?
We will see tomorrow. Hoping for a bounce with confirmation of the new appointment and this particular uncertainty out of the way.
Need further positive news deliverance in the coming weeks though to start to restore some shareholder sentiment here as well as the SP to move in the right direction.
Hoping some will draw a line under this now, but can't really see it, as already seen.
Hopefully this has been the wake up call needed to get the TGR house in order and to focus on delivery and results
To be honest I thought it was closer than I expected.
Its done now and it would be great for the company to now be able to just focus on getting real work done.
This vote thing has been a big distraction to me and in many ways allowed the company a few months grace while no one cared about the production figures etc.
That grace has gone and the new appointment appears a good step in the right direction.
Vote went the way most expected I think, honestly wasn’t as close as I thought it would be.
Hopefully this is the end of the deramping campaign on X and by a few in here. Will be a tough few months but the potential is there for all to see, GLA.
Started: wishihadnt, 12 Jun 2024 10:20
Last post: wishihadnt, 12 Jun 2024 10:20
Shall we move on, I really do hope Karma is for real!
Started: aimofthegame6, 12 Jun 2024 07:41
Last post: aimofthegame6, 12 Jun 2024 07:41
Do we reckon 1p placing or a death spiral convertible loan note? Either way, huge sell off incoming
Started: tomorrowtoday, 12 Jun 2024 06:28
Last post: tomorrowtoday, 12 Jun 2024 06:28
The leopard never changes its spots. The poddars are still in control so expect the same as before...tons if graphite going to pranagraf for nothing and being sold on.salaries not being paid. Promises of jam tomorrow and then excuses. No cash left and millions needed to stay afloat. Oh and the vat return is Imminent...dyor
Started: whatwhatkid, 11 Jun 2024 19:37
Last post: whatwhatkid, 11 Jun 2024 19:37
This guy never learns
Started: GMAC17, 11 Jun 2024 18:24
Last post: mikee_p, 11 Jun 2024 19:01
Loving the positivity natemc
This company is dead in the water now. Only a matter of time. Such a shame, and unfortunately it will only be common shareholders that feel the brunt of it. Panagraph will pick this up from administration before the end of the year.
Well it’s nothing if not interesting!
A reasonable majority in the end for Shishir and co.
Now the vote is out of the way and nothing carried hopefully the trolls with disappear from here. Glad the silent majority won this.
Started: Gambler7760, 11 Jun 2024 15:54
Last post: HarChris, 11 Jun 2024 18:00
No it was 3pm today according to the notice of requisitioned AGM rns….
Tomorrow it is.
Short of direct information from someone there, on something as significant as a cleen sweep change of board, or not, I'd have expected an RNS from one or the other this evening, even if after trading hours. Looks like it's going to be tomorrow morning now.
Anyone at the meeting or getting updates from anyone at the meeting?
Started: Ilovesushi, 11 Jun 2024 08:08
Last post: cheeseburger88, 11 Jun 2024 15:10
A rocky period ahead regardless of the result today.
There is more damage done from the continual sniping from the sidelines in IMO.
'I only hope that the losers accept the result and sell their shares and move on. Then whoever is left running the company get on with the job in hand.'
___________________
The 'losers' are going to hold around 30% of the total voting rights, you do not want the losers 'selling their shares and moving on'.
Shocking management. Its very serious. They should have resigned long ago. Better now put the company up for sale to the highest bidder and save what little value is left. We do not want a discounted share placing on top of the already massive drip. Just got to salvage what is left. Can only do that when Shishir is fired. Sent packing. Vote at 3.00pm. Then the investigations begin hopefully. Maybe we can take them to court and sue them?
I only hope that the losers accept the result and sell their shares and move on. Then whoever is left running the company get on with the job in hand.
Started: whatwhatkid, 9 Jun 2024 08:44
Last post: HarChris, 10 Jun 2024 19:37
It does seem like the requisitioning group have a lot of votes behind them so they are either going to win or Shishir narrowly squeezes through - definitely going to be interesting to see what happens tomorrow and then the days following the result.
He will be shown the door tomorrow. Hopefully after investigations he will be shown a new door. A jail door. That is if it is found what he has been doing is illegal.
Good question. Other than having a presence at the meeting to report back, I assume that we'd be relying on whichever board of Directors comes out triumphant, to issue an RNS declaring that.
Is anyone going to the AGM tomorrow? I presume nothing will be streamed online so just have to wait for the result later that day?
Graphite prices are up could help the cause
Started: HarChris, 8 Jun 2024 16:58
Last post: HarChris, 8 Jun 2024 16:58
Something that's often overlooked is just how resilient large and jumbo flake graphite prices have been over the past year or so. One excuse I see often here is how all graphite producers are struggling because of the price but that isn't a fair argument - TGRs basket in Vatomina and Sahamamy is mainly large and jumbo flake, these products have seen prices remain high whereas the likes of Syrah and others with their small flake and anode products have been put under much greater pressure due to that uncontrollable outside factor.
In the below link look at Flake Graphite +195 and Flake Graphite +895. The operational failure over the past year has blown a golden opportunity to make significant headway on its peers.
https://www.asianmetal.com/Graphite/
Started: ajones3217, 7 Jun 2024 11:18
Last post: fairdealer20, 7 Jun 2024 13:40
Aj Minralis's presentation is all very well, except Panagraf is not listed on the LOndon Stock Exchange. ALL income goes to the Private Director,. Guess who that is??
Https://minralis.com/about/
Click the link where it says - Learn all about PranaGraf and how they are helping the world her
Started: TheSwan101, 6 Jun 2024 16:18
Last post: fairdealer20, 7 Jun 2024 09:53
Whether Shishir is a better Manager than Rollins is highly questionable. What is patently clear the Company cannot continue to be managed in the ramshackled way the Poddar family appear happy to proceed, whilst hoodwinking Shareholders they claim to value.
Ditto
Also voted for all the resolutions as it is....
Time for change
I would have thought Rollins would have been better served concentrating on his day job at Beacon Energy. Their shareholders are voicing much of the same criticism of their board as is being voiced here.
How is the stock not suspended
Is it right that TGR are able to issue RNSs regarding the special resolution and therefore reach the whole investment community whilst in response there is no proportionate mechanism for the requisitioners ?
Genuine question- it seems to me every man and his dog discussed the most recent rns but hardly anyone will view the reply.