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Tirupati Graphite PLC - London-based company specialising in graphite and graphene - Says primary flake graphite operations have continued at its Sahamamy and Vatomina projects despite "unusually challenging" weather conditions in Madagascar, including six cyclones in the past six months. However, construction of18,000 tonnes per annum plant at Sahamamy has been delayed by three months due to these weather conditions. Commissioning is now expected in September. Commissioning of the 100 kilowatt hydropower plant at Sahamamy is on schedule with first power generation expected in July. Company also notes cost inflation, particularly for shipping and logistics as well as investment and operating costs due to the rising price of steel and petroleum products.
Current stock price: 36.00 pence, down 16% in London on Wednesday
12-month change: down 72%
By Heather Rydings; heatherrydings@alliancenews.com
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