Tirupati Graphite Share News (TGR)

IN BRIEF: Tirupati Graphite restarts production at Vatomina

Tirupati Graphite PLC - London-based flake graphite supplier with projects in Madagascar and Mozambique - Says full scale mining operations commenced at Vatomina from July 28, following successful delivery of fuel and other supplies the day before. Processing operations at Vatomina commenced from August 2, following building up of threshold feed stock at the ore pads of the two pre concentrate units. Minor issues were addressed between August 2 to 6, during which 59 tons of more than 96% grade flake graphite was produced and head grade met the target of 3%. Says steady state production has been ongoing since August 6, with production of 165 tons in seven consecutive working days. Remains confident that it is well positioned to achieve the 8,000 tons per annum production run rate from Vatomina, subject to there being no disruptions or inefficiencies caused by financial limitations. Says 140 tons finished product has been shipped up to August 10, while 240 tons are in the process of being shipped. The company's target of greater than 600 tons shipped in August 2024 remains on track.

IN BRIEF: Tirupati Graphite says funding talks continue

Tirupati Graphite PLC - London-based flake graphite supplier with projects in Madagascar and Mozambique - Says funding discussions with potential strategic partners and financial institutions continue. The talks are for near term raising of up to GBP3 million to streamline the current operations in Madagascar. The company intends to raise, in due course, project finance of up to GBP80 million from financial institutions for expansion of the company's Madagascan projects to a combined 54,000 tons per annum production capacity, and development of a first 50,000 tons per annum module at its Mozambican projects. Tirupati says its development strategy for its current projects to achieve its aim of reaching production capacity of around 400,000 tons per annum of flake graphite to serve around 8% of forecast global demand in the next decade.

IN BRIEF: Tirupati Graphite remains engaged with strategic investors

Tirupati Graphite PLC - London-based flake graphite supplier with projects in Madagascar and Mozambique - Says talks progressing with strategic investors. Has engaged financial advisers Musst Investments LLP and ViTa-Connect LLC to raise up to GBP3 million to achieve steady state production and sales at a run rate of 20,000 tons per annum at Madagascar project. Further aims to fundraise additional GBP80 million to expand Madagascan projects to 54,000 tons per annum production and to develop a 50,000 tons per annum module at its Mozambican project. Says due diligence has been completed and are in advanced stage of negotiations with a strategic financier. Additionally, remains engaged with government officials for a VAT refund of USD2 million in Madagascar and USD1.2 million in Mozambique.

IN BRIEF: Tirupati Graphite firms Michael Lynch-Bell as non-exec chair

Tirupati Graphite PLC - London-based supplier of flake graphite for energy transition uses - Confirms appointment of Michael Lynch-Bell as non-executive chair. Explains that the appointment follows the conclusion of the company's extraordinary general meeting on Tuesday, and takes place with immediate effect. As previously announced, Shishir Poddar will retain the position of chief executive officer. Lynch-Bell is currently a non-executive director and chair of Serabi Gold PLC, a non-executive director of London-listed Gem Diamonds Ltd, and independent non-executive chair of ASX-listed Little Green Pharma Ltd.

IN BRIEF: Tirupati Graphite directors backed at general meeting

Tirupati Graphite PLC - London-based supplier of flake graphite for energy transition uses - Says all resolutions put forward by requisitioner group of shareholders do not pass at general meeting. Motions to remove now Chief Executive Shishir Poddar, joint-Managing Director Puruvi Poddar and Executive Director Alastair Bath do not pass, as over 55% reject the proposals. Roughly the same amount reject proposals to appoint Mark Rollins, Leo Koot, Isabel de Salis and Murat Erden as directors.

UK shareholder meetings calendar - next 7 days

EXECUTIVE CHANGES: Pendragon chair to remain chair of Pinewood Tech

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and Friday this week and not separately reported by Alliance News:

TRADING UPDATES: Adnams toasts first quarter sales; t42 wins deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Tirupati shares drop as full-year sales skyrocket but profit falls

(Alliance News) - Tirupati Graphite PLC on Friday reported a jump in annual sales amid higher production, but said profit plunged on increased costs.

IN BRIEF: Tirupati Graphite agrees to shareholder general meeting

Tirupati Graphite PLC - Graphite and mineral producer, which is currently focused on flake graphite mining projects in Madagascar - Updates on the letter received from Walpole St Andrews Nominees Ltd on behalf of a group of underlying shareholders holding, in aggregate, around 5.8% of the issued share capital. The letter requests Tirupati Graphite convene a general meeting of shareholders. Following legal advice, acknowledges the validity of the requisition letter. Intends to comply with its obligations. Intends to provide a full response to the letter as soon as possible. In the interim, offers meeting with the requisitioners to understand their concerns in more detail. Remains committed to engaging with all shareholders.

TRADING UPDATES: Facilities by ADF profit hit by Hollywood strikes

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

TRADING UPDATES: Chariot mulls future of Transitional Power business

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

IN BRIEF: Tirupati completes drilling at two graphite projects

Tirupati Graphite PLC - Graphite and mineral producer, which is currently focused on flake graphite mining projects in Madagascar - Completes exploration and resource drilling programme at its two Madagascan flake graphite projects. This includes the completion of around 5,000 metres of diamond core drilling, 26,000 metres of auger drilling and 360 running metres of six to eight metres depth trenching across the two projects. Chair Shishir Poddar says: "It is significant to note that the completion of current exploration phase reduces our cash use towards exploration and the team and our resources will be further focussed on achieving our goal of achieving Ebitda positive results at the corporate level in the immediate term."

Tirupati says global graphite outlook means "incredible potential"

(Alliance News) - Tirupati Graphite PLC on Friday celebrated a recent report on global graphite products from market intelligence platform Benchmark Mineral Intelligence.

EARNINGS AND TRADING: Belvoir, Property Franchise merger now effective

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: