Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
And I also believe Highside is correct in saying this is why LR resigned as he could also not see past another placing and to be honest would not be able to look shareholders in the eye any longer after all the non dilutive bullsh@@te he sprouted.
Further to the below what has happened in the past is that the SP has dropped to the placing price when any placing is done with EUZ ….the last placing was done at 5p and where are we today ? Another placing will see us at about 2p I would hazard a guess….so you make up or own mind but I know what I will be doing.
I’m with you Chrisp but here’s my thinking…when one is an exploration company the exploration costs should be greater than operational costs on the balance sheet….what’s happening with EUZ is the monies raised is being spent about half and half which means that as an exploration company our operational costs are fairly high…ie the renting and monthly payment of staff and contractors. At the stage we are at I would have thought that exploration costs would far outweigh operational costs….alas this is not the case with EUZ. I can’t see us lasting to September to be honest as we still have not got enough funds to complete the PFS. This imo is a pre requisite for many if not most JV partners. So I am preparing for another dilution to be honest. On the JSE one can buy shares for 80c already when the last placing was done at R1.00 so already better off than the people who invested at R1.00…..I expect rapid growth in the SP only after the next fund raise ….unfortunately. This has been an eternal quest on my part to know when to buy and when the right time is….I have got it wrong in the past…so may have got it wrong again…who knows…but let’s see.
Highside…My reasoning is it won’t be a stay of execution….it is the only way forward to progress this project as per above…and I am very much convinced that this will one day be a mine…Best D
Interesting posts. Thanks for sharing. We have quite a bit of Zinc…underground unfortunately. I am starting to think a bit like Highside…..big player helps us or alternatively ..another fund raise imminent….at ridiculously low discount rates….again….more bloody dilution. Unfortunately cannot see past these two routes and I’m leaning towards the fund raise. :-(
Cunningfox…don’t confuse the acquisition with the consolidation….the shares will be consolidated 10 to 1 at half a pence. Trust me….been there done it. I think you need to go to spec savers…it’s pretty damn clear to me and you like many others have not read this correctly. I trust you enjoyed your own maths lesson.
The full article…. https://www-juntadeandalucia-es.translate.goog/organismos/consejo/sesion/detalle/240143.html?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Gleaned this from the internet after seeing that picture of WHI in an existing mine in Spain….
“ Project in Cordoba and Granada
In the province of Córdoba, in Fuente Obejuna, the company Minas de Tin de España plans to exploit the Oropesa deposit, a world-class deposit in its category. The initiative projected by the firm contemplates a transfer mining of an elongated open pit that will be restored simultaneously and with a high environmental integration. It also includes a tin concentration plant that will increase the use of that mineral. To execute it, the company has estimated an investment of 65 million, which will entail 714 jobs.
On the other hand, in the Granada municipality of Alquife, the Minas de Alquife company will start up the old Marquesado mine, exploited until the end of the last century to obtain iron ore and from which the first exploitation works have already begun. The extraction will be carried out in the open, from the existing cuts and the use of treatment residues that the previous owners did not exploit. For its implementation, 200 million will be allocated, which will lead to the creation of 1,407 jobs. In addition to the socioeconomic impact, the environmental rehabilitation actions of a degraded historical mining environment are valued in this proposal.
Quick and efficient processing
The activity of the Accelerator Unit is aimed at favoring that the investment projects that generate wealth and employment for Andalusia can be processed before the administrations with agility and efficiency. Its scope of action includes those strategic proposals that, due to their importance or nature, contribute to the achievement of the objectives contained in article 10 of the Statute of Autonomy for Andalusia. These refer to the achievement of stable and quality employment in all production sectors and the use and enhancement of natural and economic resources under the principle of sustainability, as well as industrial and technological development based on innovation.
This body, dependent on the Ministry of the Presidency, Public Administration and the Interior, will provide assistance and advice to the people or entities promoting the projects on all the necessary procedures for the effective start-up and execution of the project. Likewise, it will coordinate with the different ministries and instrumental entities with powers over the procedures that affect investment initiatives, as well as with the corresponding local administrations.
To date, the Project Accelerator Unit processes almost fifty initiatives that bring together more than 80 relevant projects for Andalusia and that add up to an investment of 8,387.43 million and represent the generation of 32,533 jobs.”
You do your sums again looney….
So to put things into perspective….at JSE prices today.
100 shares is the equivalent of R6.00 as they 6c each.
.005 p is worth ZAR about 10c
So come the end of May my 10 Shares will be worth R1.00
How can anyone actually be so bullish about this consolidation and post absolute garbage.
And the update closed off with “ The next entry will be entirely dedicated to the technical details of our metallurgical and hydrogeological work program.”
So a possible Mets update due shortly I would guess ?
On a serious note Sheds….I think you maybe onto something….WHI in Spain in Feb as part of the team evaluating new projects….did you see that photograph…..that does not appear to be Toral but certainly access to an old mine….so imo the 2 opportunities still on the table could very well be in Spain. GLA.
I also get the feeling with this eerie silence something is going on….and MC is too scared to relay any info to shareholders at this point in case it scuppers any deal or he may just say the wrong thing…..again :-) something along the lines of the one project is in Russia and the other is in Venezuela and they both have strong business cases. :-)
And stop your strong buy garbage for a company that’s suspended and most probably has taken a heavy gamble on your behalf that the 5MW is delivered by the end of April together with the other 3 pre requisites. I for one can promise you now if this doesn’t happen …..watch the rush for the door. Anyways that’s me done here until the end of April….will check back to see if anything is delivered timeously next time around.
Thanks Sheds….the CDTI funding though I thought was for the drilling….surely they would not use those funds for anything else but drilling ? Are they not still developing the software for anti deviation ? I don’t think that is a finished product as such.
Unless of course they have a buyer lined up for Toral and busy getting their next project organized….and then using the money received for Toral for the next exploration purchase…..
Good grief …..I hope somehow I am not roped in to this next phase…..any sale and I want out.
Sheds….doesn’t even look like they have the intention of mining as they are admitting to being an exploration company…. to reduce the risk ratio of the project while, as the exploration company that we are, expand the focus of our future development….This sure is getting scarier by the day…..
Yep….as per the RNS…… following an intended 1 for 10 share consolidation as part of the Transaction (equivalent to 0.5p pre consolidation).
That’s why I said it should have been 2 RNS’s ….1 for the acquisition and 1 for consolidation….the above is all they said on consolidation unless I have missed something.