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Indeed Glengarth:
'Within 3 years of listing capacity is now 30,000tpa an increase by a factor of 10X and resource of the company is now >12million tonnes, an increase by a factor of 12X.'
£16.85m assets on yhe balance sheet (FY23 Results)
Add in £5.2m for Suni Resources, giving £22m asset value.
How much value is being given to the 12m tonnes resource, that is held by producing company??
When trust returns & finance is sorted this should be nearer a £1 (£100m M/cap) than 27p.
All for under £30m today.
BB
Are you refering to the 60-90 days payments of receipts.
Pretty standard in business.
My employer often get put on 'Stop' by BOC for late payment. How much do the Bean Counters save with this policy?
It means an extra 30 minutes work at the coal face to get the account paid and an order authorised. If we run out of some of the gases we use it would cost the company £10k/day.
BB
Four days after the company has complied with the reason noted for the suspension. I'm not talking down a share I hold, Im asking why it is still suspended.
If there is a another reason to continue the suspension, the company should inform it's share holders. The auditers have signed off the FY results. If the FTSE have a reason to disbelieve the Auditors and the Companys filing a reason should be stated for the extention of the suspension.
Not a good look!
BB
2022 FY Results weren't filed at Companies House until Dec 22
Yearsbefore were Sep 21 & Oct 20.
So I cannot see this as the reasonfor the hold up.
'Primary bid' was the type of finance I was alluding too in my earlier post. Not sure a FTSE listed company would need to go down that route. Having listened to this mornings interview on DTalk, It looks pretty good. He does however use some obscure words when giving details. This clouds the information he's putting out there!
BB
By Eastwood - Emailed about suspension, received the following reply:
‘There is a filing at NSM that is being done, should complete today, suspension likely lifted tomorrow. Again a process but a team is behind it and please be sure I am behind it pressing everything.
Best Regards,
Shishir Poddar’
What is the filing?
Lifting the suspension would be a standard request!
I hope it’s not a funding offer that comes out Fri eve, can’t think of the name. That’s more for desperate AIM companies.
BB
Glengarth/Plaza - Not forgetting the savings from the hydropower plant, as commercial use has only just began:
'Completed the construction of the maiden 100 kilo watt hydro power plant in Sahamamy and generated its first power during the year, though commercial use of power commenced only in June 2023.'
4 months earnings may cover the G&A costs for 12 months, month seven with the delays in payments. So by Jan 24 this cash strapped company as it's been put, could be turning into a cash cow. With all the usual caveats.
BB
Https://polaris.brighterir.com/public/tirupati_graphite/news/rns/story/w6mql7x
Report is available on Company's website
BB
From the RNS: 'As a result, at the Company's request, the listing of the Company's ordinary shares on the Main Market of the London Stock Exchange will be suspended with effect from 7.30 a.m. on 1 August 2023'.
'The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 01/08/2023 07:30 at the request of the company:'
Therefore I imagineTGR will have to request the relisting of the shares. IMHO
BB
The CFO - Let's see if he holds his position after the suspension is lifted. May be it is the Auditors.
'MR. AMEYA GOGATE,
CHIEF FINANCIAL OFFICER:
Mr. Ameya holds a Bachelor's Degree in Commerce from the University of Pune, India and a Global MBA (Finance) Degree from S. P. Jain School of Global Management in Sydney, Australia. Mr. Gogate recently earned a Certificate of CFO Program from the Indian Institute of Management, Calcutta. The Institute of Chartered Accountants of India certified him as a Chartered Accountant in 2014 and the ACCA in London awarded him the Diploma in International Financial Reporting Standards in 2015.
Mr. Gogate has over 11 years of experience in Corporate Finance, Accounting, Financial Reporting, Consolidation, Fund Raise and FP&A etc. Since April 2019, he has been with the Company. In his past stints, he has worked in diverse industries including real estate, hospitality, engineering, software, PE/VC and consulting across India, UAE, Thailand and Singapore.'
BB
Malco, this is from skeletors link earlier today from FCA website:
'Annual financial reports for listed companies
Issuers subject to DTR 4 are required to publish their annual financial reports within 4 months of their financial year-end (DTR 4.1.3R). If they do not meet this deadline, we expect issuers to request a suspension of their listed securities. Should they not make this request, we can impose a unilateral suspension if the smooth operation of the market is, or may be, temporarily jeopardised or it is necessary to protect investors (section 77 FSMA and LR 5.1.1R). '
BB
From the Attached article 'If they do not meet this deadline, we expect issuers to request a suspension of their listed securities.' How do they request a suspension? Via RNS before the date?
It then states 'Should they not make this request, we can impose a unilateral suspension'.
This is a poor show of Corporate Governance whatever the reasoning.
BB
From TopTraderTR:
'TGR are main market, not AIM.
This means they should release full year results 4 months after the end of the financial year. End of FY 2023 was 31st March so expecting FY results before the end of July. This would explain the delay in releasing a Q1 production update.'
Three trading days left to get the Results out by end of deadline. Monday would be the best day. Start next week on a high.
Let's see if there is buying pressure Friday afternoon when the RNS is submitted.
BB
We need to wit for 'Audited Results for the year ended 30 June 2023'.
Last year they were RNS'd on the 25th Oct 22.
As Mikie says - August could be the start of the good news, then FY23 Results could include Post result news of the 12 week Roan upgrade that will commence sometime in this Quarter.
BB
Also from 1st Jun 23
'Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite and graphene company developing sustainable new age materials, is pleased to announce the appointment of Isabel de Salis as a Non-Executive Director on the Board of Tirupati Graphite, with effect from 1 June 2023. The Company also advises that Douglas Wright has resigned as Non-Executive Director of the Company with immediate effect to pursue other interests.'
Quite a turnover of Non-exec's just as we are reaching the company's supposed inflexion point???
Hoping all is good. As the last 12 months have shown no improvement in the SP. The Previous 12m period to that was a constant decline, but we know the reasons for that.
BB