Two months on…3 Oct 2024 08:20
So two months since the shares were suspended. In all honestly, I was and am happy the shares got suspended as it's provides the board time to secure the right funding deal without a fluctuating SP. This should ensure negotiations with finance institutions are more efficient and board can focus on delivery on key objectives and not be responsive to shareholders on SP.
I expect all of our concerns remains on finance without this all our investments are worthless. That being said, so will the boards investment who are major holders here with some of them recent putting on over 200k, whilst also taking salary as shares at higher prices.
The recent RNS on;
- 13th August 24 was a really positive step forward with the recommencement of production at Vatomina was a small but positive step which shows the lights are not off. The Vat refund was also good to see although again small in value, but admits liability.
- 10th of July 24 illustrating strategy for development of graphite which indicated that in September 24 we would be ramping up productions to get to 30kpta by end of December 24.
Both RNS showed really intent which is positive, but at this point us shareholders want more than intent. My personal perspective is both should have been followed up with results, we said this in August and we are still on track or have delivered to the plan. I don't expect this every month, but at a time where shareholder confidence is wavering it's so important communications are maintained.
The above is probably just noise to some extent if funding lands. We have seen in recent weeks with companies such as Blackrock, Blencowe etc all getting funding support. With the USA restrictions on China coming into force In 2026, my view is TGR with there In production assets in Madagascar and the high class assets in Mozambique which are near production with enabling works part complete. TGR is a golden opportunity for an strategic investor.
What would I like to see:
-update on production confirming we are hitting our targets. No updates IMO, just do further damage to a strained shareholder relationship anyway.
- Update on finance, are the investors still considering investment and if not why not? If due to no confidence we need a brave decision from BOD to hand over some leadership control
- Confirmation we are expanding to 30 kpta as per RNS in July 24.
I honestly want the board to be a success as they have put their reputation and personal finance on the line. I also take solace were in it together as if we lose so do they given there personal investments.
( I still have many questions on paragraph that I hope Micheal is doing full review of that relationship as it should have been allowed to get that deep routed).
Sitting here waiting for news…..
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