Member Info for Andii

Cheers Trek, I will make a new thread and reply to you on the #TGR page

Trek, I used to enjoy your threads on some other shares in the past. I wonder if you have the time, would you be able to have a look at TGR and give your input.. Sorry to interject on another share like this, I wasn't sure how else to find you.

I'm easily found on twitter too under #TGR, I post a lot and have a post pinned with a synopsis for quick DD.

Shun me off if this is an inappropriate ask, I won't be offended!

Many thanks, good morning and good luck

Andy

No, just an acknowledgement email that they would reply back to me.

Here is a screen shot of a spreadsheet with details of all the big graphite miners with todays market caps.

https://ibb.co/9YYBxW9

BM spent the first 5 minutes of this interview talking about Tirupati

https://twitter.com/SmallCapsASX/status/1661156132763885569?t=4GsDUBKTkOlmQk2EYuWdQw&s=19

They know that #TGR are the cheapest Capex and Opex graphite producer outside of China, maybe even the world and the world's second largest producer outside of China targeting 8% of natural graphite market by 2030 (400ktpa)

https://www.proactiveinvestors.co.uk/companies/news/1014474/tirupati-graphite-targets-80-000-tonnes-capacity-for-2024-following-strong-showing-in-2023-1014474.html

They also know that under 25% shares are in public hands and that Tirupati are now profitable.

They also know that dividends could be on the cards in the future. Them owning 10% of a company with lowest opex aiming to have 8% of the world market could be a huge earner for them when dividends arrive.

https://youtu.be/vqlYIfQkJ7k

^^The above video only has 312 views, as do others like it.

#BRES - Blencowe resources videos getting over 1.2k views

C909 I'm just avoiding this chat room to be honest as it's painful to read. Maybe reign it in a bit and I would return. Share price falling and 75% of posts on the BB are slander, despondent and doom talk. It's not really a fun and reassuring place to contribute.

As for insider trading? Really?

Here is me online when the placing happened.

https://ibb.co/qBbM95Y

Here is my spreadbet auto closing on margin call the day after

https://ibb.co/0hjF2Jt

Usually an offer is made which is higher than the maximum share price of the last 12 months.

Don't forget that Battery Minerals just gave over their Mozambique ssets which they had likely invested well over $20m in for 10m shares. Those shares are only worth $5m right now. They will have done their DD and are investing in #TGR for the long term. There was a counter offer on the table but they chose TGR.

Testpack, sorry I must have made a typo. I don't often call people names and have no desire to start.

I was quite sure I shared a link to a folder full of research notes by arden, align, cannacord along with other presentations.

The earliest I can see when I check my Google drive is the 47 page arden research note from 2020. Its no longer available on ardens portal.

Please let me know if you can't view or access. I took a screen shot and checked a sample and all were set to public

https://ibb.co/56g0q7Z

Production figures

Q4 last year 1000t (share price 34p)

Q1 this year 2000t (27p)

Q2 (just past) Guidance is for 6100-6500t (33p)

Production is up 600% from 6 months ago, cost per tonne of production is down, we now own 1200% more graphite and are profitable yet the share price is stagnant

Market hasn't really reacted as share price is still lower than it was in January when Tirupati only had 12ktpa production capacity and 1million tonne resource.

They now have 30ktpa almost at full capacity, 14million tonne resource with an easy, cheap and fast way to upgrade to 36ktpa all the way up to 84ktpa.

Here is a spreadsheet I made to show the path to 84ktpa through internal funding.

https://ibb.co/pynTcwK

And this is for Madagascar only

Https://www.tradingview.com/chart/Um5F7Q3C/?symbol=LSE%3ATGR

Http://www.aimchaos.files.wordpress.com/2023/04/tirupati-graphite-valuation-analysis-05.04.2023-5.pdf

Myles twitter post today

https://twitter.com/MylesMcNulty/status/1678683746663317504?t=gTDMizUibQAq5cgOrTDXow&s=19

HAHA calm down Andy!! The answer is $2.8 Billion, no idea where I got that $trillion number from !! =D

Can anyone point me in the direction of the likely costs and selling price to upgrade 1.3% V2O5 concentrate using

"standard roast and leach process to recover the vanadium content as a V2O5 product" ?

https://www.investi.com.au/api/announcements/bat/01af10bf-d83.pdf

Interested to know as #TGR are exploring the economics of a vanadium process from their graphite tailings. Thanks

Https://www.proactiveinvestors.co.uk/companies/news/1020245/tirupati-graphite-reveals-the-icing-on-the-cake-in-mozambique-1020245.html

......

VANADIUM

From Shishir's interview above, once 70% of the sand is removed from the ore, the remaining clay which contains the graphite sinks to the bottom of the tailings dam. This will result in a much more concentrated V2O5 product which will be cheaper and easier to collect/upgrade/process.

29 April 2019 - Substantial maiden vanadium Resource

https://www.investi.com.au/api/announcements/bat/01af10bf-d83.pdf

86kt of contained Vanadium Pentoxide (V2O5) at a cut off grade of 4.3% TGC (0.24-0.25% V2O5)

**This means they have only counted the vanadium in the ore which contains above 4.3% graphite. But we know that Tirupati in Mozambique are currently processing 2.5% graphite ore up to 96-97% graphite concentrate.**

"Cut-off Grades

On the basis that V2O5 would be produced as a by-product of graphite production, the Inferred V2O5

Mineral Resource is reported above a 4.3% TGC cut-off grade, which is the Ore Reserve cut-off

grade; within the Ore Reserve pit design for fresh material only."

**"Fresh material only", they haven't included the weathered material which is a substantial portion of the resource**

..........

15th feb 2017 -Battery anode PFS and Montepuez Graphite DFS confirm robust economics

https://www.investi.com.au/api/announcements/bat/5702fa53-1f0.pdf

page 8

211kt of contained vanadium pentoxide V2O5 at a cut off grade of 2.5% TGC (0.19-0.22 V2O5)

.........

The 2019 study used 34MT of ore at high grade

The 2017 study used 104MT of ore at lower average grade

The actual resource at Montepuez is more like 120MT so with an improved mining technology, #TGR can probably process lower grade ore and recover more graphite and vanadium than even the best case scenarios already presented in the feasibility studies.

18 October 2018 - Group resource update

https://www.investi.com.au/api/announcements/bat/9ac07b15-0f5.pdf

********

V2O5 (98%) = $14,900/t

https://www.metal.com/Other-Minor-Metals/202110220002

200,000t x $14.9k/t = $5.9 TRILLION......

Here you go teatpack. Research notes from the past 3 years

https://drive.google.com/drive/folders/1dqRW4JLRGsMtmi90Wzp7I3dtKTChs_Kc

Here is the 2017 PFS for montepuez.

https://www.investi.com.au/api/announcements/bat/5702fa53-1f0.pdf

In 2017

100,000tpa

Capex $126m

C1 costs $444/t

Basket price $798/t

NPV $146m (before tax)

EBITDA $27m/year

In 2018

50,000tpa

Capex $39m remaining

C1 costs $360/t

Basket price $1064/t

NPV $?

EBITDA $30m/year

2023

50,000tpa + vanadium

Capex = "a reduction in the previous owner's capex" so less than $39m

C1 costs "a substantial reduction in operating costs" so less than $360/t

Basket price ?/t

NPV $?

EBITDA $?m/year

If the Capex is now $89m cheaper

The C1 costs are more than $84/t cheaper (>18.9%)

The basket price is over $200 (>20%) higher

Surely the NPV is now substantially more than $250m, potentially $300m (based on 50ktpa....)

The results from the pilot trials will be used to redesign and optimise the processing flow sheet, enabling at Montepuez:

● a reduction in the previous owner's capex estimates for the first 50,000tpa module;

● a substantial reduction in operating costs;

So Montepuez will cost LESS than $39m to complete the construction of the plant

......

There will be a substantial reduction in operating cost (previously C1 costs were $360/t)

https://www.batteryminerals.com/wp-content/uploads/2021/08/Increase-in-Montepuez-Graphite-Reserve-1.pdf

.....

Vanadium can increase the value of the operation further

https://www.batteryminerals.com/wp-content/uploads/2021/08/Substantial-Maiden-Vanadium-Resource-at-Montepuez.pdf

WATR did very well during COVID. Their revenues grew 17% in 2020, 44% in 2021, 31% in 2022, and forecast to grow 6% in 2023. Looks like they maybe took some debt on in 2022. Not sure what this was used for, probably acquisitions of some form.

Research note front page

https://ibb.co/n3njczC

Q1 update RNS

https://www.lse.co.uk/rns/WATR/q1-trading-update-mg1ub6kjmyd36s1.html

So CAGR not that high, currently under 10%. P/E ratio sitting about 7x

ONDO CAGR probably well above 100% right now, potentially much more, depending on those "after period events"

Have also sent on to each individual and Optiva.

Hopefully get an answer soon. (Detailed operational update RNS maybe?)

Email sent to admin@tirupatigraphite.co.uk

Formal introductions, then the below:

"Some shareholders have put particular emphasis on the downstream TGS business so I would like to put extra weight on that issue, if you would be in a position to answer or supply a market update on this issue we would be very grateful.

Here are the questions:

1 TG in India - status/developments/clear communication of the history behind this transaction and future outlook

2 Forecast for FY 2023/24 v 30k

3 Plans for Mozambique - Urbix batery anode JV still in place? Updates to the feasability studies likely or will it all be done in house without forward forecasts?

4 Finance - Loan availability for faster expansion?

5 1Q Production at or above 6,100t?

6 When bringing in the new production capacity, 6ktpa near term cheap upgrade was mentioned previously. Is this underway? Is the 84ktpa by end of 2024 still on track?

7 Cash status. Confirmation of profitability would be welcome? Such a situation is surely price sensitive so should be updated when known.

8 offtake partners, are there long term fixed price customers secured? Any future improvement on current offtake prices now that production levels are higher?

9 Website, will there be an overhaul of the website as it is below par and hard to navigate with outdated information

10 When will new sustainability report be released to show that Tirupati are one of the lowest CO2/t producers of graphite.

11 Are we expecting further reductions in C1 costs

12 Is there an updated investor presentation planned and/or broker or research note?