Member Info for Glengarth

Well the share price has retraced from its mighty highs of 158p as early investors take profits and those who bought higher sell out of boredom and/or panic at the wider markets' consolidation/retrace.

Meanwhile, TGR continues to execute is stated aims, with expanding production, revenues and gross profits both multiplying to date, and likely to continue growing as those expansion plans are successfully completed to feed a growing market for its products. On its way to mid-cap status within several years, which most investors must be able to see when comparing other global graphite majors who are also seeking to grab market share of the downstream as well as the primary mining and processing side.
As the next 18,000tpa module comes online in the first half of next year, using the figures from last week one can project and forecast figures that will come from an efficient operation at the size of 30,000tpa. Following this the first of the major downstream projects in India is targeted for the second half of 2022. Combined with any success of the graphene composite, it is these next modules that will kick the company really into gear and make for the most important year for TGR, possibly in its lifetime.
It will be interesting to see how the company plans on developing the Moz assets in conjunction alongside the India and Madagascar projects.

Great to see these figures today!

Very much looking forward to the cashew project coming online with CPO doing so well in the background. Cautious approach of mgmt looking wise given the circumstances.

Glad to finally hear something from TSP - hope the 'Breakthrough Device' application will raise the profile of the product that much more if/when it clears FDA and isn't just sugar coating to illustrate activity and excuse continuous delays. The 10p raise at a premium seems assuring. Still in the bottom drawer waiting for FDA, patience still needed while currently looks like a good entry/top-up point if confident. GLA.

https://www.proactiveinvestors.co.uk/companies/news/960536/rolls-royce-targets-electric-air-speed-record-after-maiden-flight-success-960536.html

Great to see RR building expertise in what will be a major industry of the future: electric powered flight and urban air mobility

Nice growth in revenue and gross profits!

The British Honey Company plc (“British Honey”, “BHC” or “the Company”), the producer of
premium British Honey, craft spirits and alcohol sanitiser products, is pleased to announce its Interim
Results for the six month trading period ended 30 June 2021.

Financial Highlights

? Strong trading performance in Q4, 2020 has continued into the current year with significant
increase in online sales during H1
? Total revenue from consolidated continuing operations during the period increased to £3.0
million (6 months to 30 June 2020: £1.0 million)
? Consolidated gross profit increased to £1.4 million (6 months to 30 June 2020: £0.7 million)
? Operating loss of £1.3 million (6 months to 30 June 2020: £1.0 million loss)
? Loss per share of 9.90 pence (6 months to 30 June 2020 (10.58 pence loss)
? Cash position at period end of £1.8 million (2020: £3.7 million)

Operational highlights

? £10 million acquisition of Union Distillers Limited (“Union”) completed; successful £4.6
million equity placing to fund the acquisition
? Collaboration Agreement and Share-Swap investment with List Distillery LLC (“List”)
recently extended to 28 December 2021
? Expansion into whisky production with second distillery and bonded warehouse under
construction, with completion expected during 2022
? Continued investment in market-leading proprietary IT/Software systems and infrastructure
and setting up of new software subsidiary, eDistil Ltd
? Expansion of spirits brands, creating new flavours and offerings, including successful release
of range of ready to drink products aimed at the fast-growing hard seltzer and low and no
alcohol categories
? Reorganisation of the Board and senior management team
? First major shipment sent to China for the new Keepr’s bar in Xi’An in ShanXi province opened
by Group’s Chinese partners

Curius , I think it's more like approaching 3 months now after the spike to 158p - certainly a fair amount being shifted since then. Looks like there may be some individuals happy to soak up with buys at these levels however.

Certainly the fundamental news has continued strongly and the commission of the 9,000tpa module bringing capacity to 12,000tpa has strengthened the resolve of several investors as the company has shown it is competent and able to deliver on the physical asset development. We've had news on the primary side and the graphene side since the listing - now I am hopeful for further news on the specialty side i.e. expandable flame/thermal control/spherical graphite news is upcoming. Certainly in 10 months since listing, TGR has not been hanging around. The Madagascar resource drilling and exploration programme results should be out soon imo.

New interview today covers some of this and highlights there is much to come to update the market on still:

https://www.***************************/tirupati-graphite-increases-production-with-9000-tpa-flake-module-interview/4121021486

Good luck all.

interesting buy of £33k this afternoon.

Must be getting extremely close to cashew production

The news we’ve been waiting for and reading the RNS it’s fully understandable how much work went on towards this capacity increase and helps see why they missed the original Q2 deadline - they’ve done a fantastic job reaching this point!

Great to hear in the RNS ramp up to full production is only a short 4-6 weeks and that sales for first shipment are already lined up. The next financial result will look even stronger after this 4x production increase - 3,000tpa now up to 12,000tpa - and the profile of the company transforms from minnow into established industry member which will come to be recognised in due time imo - and that’s just for the flake graphite side of the business.

Well met Phoebus, I fully agree!

*one of which is *construction* ready not production ready, apologies!

You make good points about the grades but it is difficult to compare ACP with TGR Pheobus - I hold both for the record.
While ACP stands to do very well from its Graphite project, TGR derives its value from the fact it is a fully integrated graphite and graphene company. TGR has its Madagascan primary flake graphite projects, which you may see has some of the lowest costs per MT to extract and sell because of its proprietary processing methods of subsequently producing 96%+ TGR material as required by the flake markets.
However, TGR also has its downstream projects to produce thermal/flame control/expandable graphite products as well as the highly important spherical graphite which goes into the anode of Li-ion electric vehicle batteries. the value add of this is massive alone.
As well as this TGR also has its graphene division which has developed a potential breakthrough in technology to produce an Aluminium-Graphene composite which surpasses and closely rivals Copper on aspects such as thermal and electrical conductivity all while being a more lightweight material than copper itself. This was announced in April/May and TGR is working with others, notably Rolls Royce on furthering the development of this composite. Real blue sky potential imo.
Lastly TGR is in the process of acquiring to major graphite assets in Mozambique, one of which is production ready and the other has completed its Feasibility study. Together these assets to date have been shown to have in Reserves 6.8MT contained graphite at 10.1% TGC and a Total Mineral Resource of 13,030KT of Contained Graphite at 8.5%TGC. This is combined with a low strip ration and low capex in a region right next door to the largest ex-China flake graphite producer, Syrah Resources.
I attach below a link to the assets in the process of being acquired:

https://www.batteryminerals.com/our-business/mozambique/montepuez/

I hold both ACP and TGR (my larger holding but will be adding to ACP as well from here) - my point is it's pointless to make a direct comparison between the two's valuations as their business operations and plans are chalk and cheese. All the best.

Thanks for sharing Jingall.
It's good to get a response from the team. Global shipping seems very much out of sync at the moment!
Nice nod to the massive acquisition TGR is in the process of making. Battery Minerals shareholders will vote on the transaction in a meeting on 30th September in Australia so in 4 weeks we should know whether the transaction can progress.
Looking forward to seeing the full reports.

Agreed BOJO - the market for graphite companies is highly distorted with many companies being allocated massive valuations on the back of serious assets in the ground but no certainty they will either begin extraction for many years or that they will even be able to afford to without unfavourable terms.

The likes of Next Source (tsx) , ACP (AIM) , Renascour (asx), TGR (LSE) and possibly Syrah (asx) are clear winners in my mind as they each represent graphite (some vertically integrated) companies that are well placed, have low extraction costs, low onwards capex and experienced Management teams that are motivated to progress quickly and efficiently.

Hi CT,

Most on this board will know i've been a big fan of TGR since December and its listing - I can only say that I have been more impressed as time goes on and the investment case has improved markedly since then - demand for graphite in forecasts has continued to rise as the scale of the electrification of mobility has become more widely recognised and the number of battery factories being built around the world continues to grow.
I invested off the back of TGR's Madagascar flake graphite and the planned specialty (mostly for the spherical) graphite production in India - the graphene side, while attractive, was still a bit of an unknown back at the end of last year, and arguably still is until we receive feedback from the development partners and further testing results of the Al-Gr Composite.
Since December, the company has increased its ambitions by increasing the target for total flake production in Madagascar to 84,000tpa from 81,000tpa by 2024 and we are due the commissioning of the 1st Vatomina module to take it to 12,000tpa capacity in the 'immediate term' per last RNS - increasing to 30,000tpa in the 1st half of next year.
The company has unveiled a potentially transformational Aluminium-Graphene composite and is working with major partners such as Rolls Royce. If this comes off and application testing is successful, then even the sky is not the limit - think about how many applications use Copper (always in the news these days lol) which could use a more lightweight, better thermal conductor and similar electrical conductor.

Lastly, the company is in the process of acquiring 2 major and well developed graphite assets in Mozambique, almost adjacent to the world's largest ex-China producer, Syrah Resources. Production from the first of these assets, construction-ready Montepuez, is lined up for a 50,000tpa stage 1 and at least doubles for stage 2. You can see what production from assets of this scale, together with Madagascar production, would do for the profile of TGR - it would/will become one of the world's largest producers outside of China using efficient and Green processing methods.
The vertical integration of the company i.e. being able to provide flake graphite to its own specialty graphite operations (+ to its graphene division) helps efficiencies, keeps costs down and will help guarantee good margins and certainty of supply in the future. I really hope we hear more about the spherical graphite plans as I think this is the real money maker for graphite companies in the space based on the value added processes to produce it and its requirement in Li-ion battery anodes.
All of this is likely to be built out in line with market demand.
Just from comparing the initial unaudited results with the previous year you can gain a sense of the scale of growth that is possible here with revenues and profits increasing by serious %s year on year.

Enjoy your research!

Good news finally!

Well, another 3 months and nothing of note to speak of and still no indication of the intended FDA process.
What is going on with Evrensel's subscription monies? September now: FDA process update when?
the price certainly didn't stay above 9p (lol) - annoying thing is it's just a process the company needs to get through now to put a rocket under it but nothing is forthcoming from management. Announcement in the morning? I jest.

Jingall, I've had responses from them before from their website submission section, although some responses have been quite delayed I don't expect them to get back to everyone of my questions etc. You could also try the email included at the bottom of the RNS announcements as well.

El-T, I'm also very conscious the company did not hit its deadline for Q2 and the continued delay is very frustrating. There's a lot of goodwill towards this company as it has a clear mission and targets and is working with products that are facing a massive upcoming rise in demand thanks to EVs and fire control regulations. Originally TGR had planned for the 1st module at Vatomina to be 6,000tpa and then in February announced they would increase the module capacity to 9,000tpa. However, they chose to keep to the same target for completion by Q2 2021. For a 50% capacity expansion to the original module (3,000tpa + 6,000tpa) to keep the same time target as they did seemed very optimistic!
Certainly yours is a good point about expectations but the company has only been running a 3,000tpa module to date at Sahamamy, so it's no small feat to initiate a new module in a separate location which is 3 times the size...a couple of months delay isn't the end of the world - but it is getting to the point now where given the noises the company has made wrt to the dates of commissioning of this new module (now described as being 'imminent' in the last RNS), if it doesn't begin commissioning v soon I will begin to question the company's competency and transparency...Come on TGR management, keep the positive momentum going.

I'd suggest the last few RNS announcements didn't affect the sp because of the need to raise funds to progress this major project imo (and it is a major project - the graphite for which might not be needed for a few years as other major projects further along the development curve are progressing to production). No doubt this is a seriously high quality project however.

Hi Genghis,

Valid points you make! - at least so far to date it seems like this is a company that spends the money it gets well to grow its business per its stated objectives and shown by the massive % rises in revenue and gross profits. The full results and Annual and Sustainability report will be released on or before 17th September per the last RNS.
(I think Jingall was referring to the £1.03 issue price of shares that will go to Battery Metals as part of the consideration for the acquisition of the Mozambique assets)

Staying out until the next raise which is on its way imo. Very Solid project but needs a lot of money to progress despite the solid efficient progress to date. Cheap takeover target maybe if any companies looking for a major graphite project but still a couple years away from full interest if the case I reckon