Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
I know everyone say's that Redmoor is shelved for now, but Cornish tin mines are notorious for needing a great deal of care and maintenance, does anyone have a clue how much we might be paying for this, because I've not seen it written or mentioned anywhere.
It states there are two RNS's today but there is obviously only one, but if you look at the "Director buys" section it gives a different perspective, it actually states that Peter Wale only bought 2,700,000, but John Peters bought 814,942, or is it just LSE screwing up?
DVH, you highlighted the following in your post.
“It demonstrated the ability of the existing plant to treat the planned production from the Paltridge North Deposit with the Company seeking to develop this project in 2020”
Although in JP’s statement in the RNS he said.
“expected government approval to mine the larger Paltridge North deposit.”
So am I right in thinking we don’t actually have a licence to mine Paltridge North yet?
Does anybody actually know what's in our Cobre contract, how much do we pay for the privilege to sell the stockpiles ? does the mine owner get any royalties from what we sell ? are they going to want to keep a company who has lost it's biggest customer, plus can't get anymore smaller customers ?
Next March is going to be an interesting time share wise, the shares normally dip a month before renewal of the Cobre contract for obvious reasons, the mine owner might!! just want somebody who can actually shift the stuff, so this time around if an extension is not granted SML is dead in the water.
To be honest Pablo, share dealing these days is always going to be a bit of a gamble, there are too many unrelated world events that can change a companies share price in the blink of an eye.
I'm not sure whether Martin A has actually ever taken his full waiver entitlement, with his latest purchases it gives him just over a third of the total company stock, he may well think that's all the control he wants or needs, the significant shareholder list now owns 50.36% so between them they can do what they want.
I actually sold out yesterday, my intention is to buy back into CGH in about 3 to 4 weeks time, I've done this twice now, once in March and again in May both times increasing my holding without paying out anymore money. History shows that the last two holding RNS's pushed the price up, only to fall back again 3 or 4 weeks later, so I'm happy to take the gamble that the same thing will happen again now.
Interesting view from Yahoo finance.
https://finance.yahoo.com/news/chaarat-gold-holdings-lon-cgh-124726646.html
It's just a thought!! but when people are in financial trouble they usually sell the family silver first, so as they haven't really found anything yet and they can't afford to drill it, I wouldn't be surprised if they don't sell Hans camp.
We have lost the one thing that this company had above other Aim companies, our BOD we're held in high esteem and trusted completely, unfortunately they have managed to lose credibility and a great deal of trust, that is not something you can buy back, it is going to take them a long time to earn it back.
As stated they don't have to give us any information from the review, but if they did decide to share the information, how would we know if it was all the information they had good and bad, they could just give out the good bits, it all comes back to trust, hence I think the bottom will be around the 0.60 mark.
I've stopped being amazed by the naivety, how supposedly intelligent people still believe what's written on these types of boards can actually move a share price up or down, if a person can't read all the posts and make up their own mind, then they shouldn't be dealing in shares.
This Cobre situation reminds me of bad tenants, they start off paying rent money every month without fail, but one month they can't pay on time so you give them some slack, same thing next month so you give them a bit more slack, that's because they were good payers and you can't really afford to lose them, eventually they stop paying all together but you can't get rid because they have a contract, so you threaten to take them to court and evict them, hence they plead with you to not take them to court for two weeks, we’ve got loads of money coming so we “promise” to pay you more bond money and pay up all our arrears.
I think the BOD gave the major client far too much slack in the early days, which has left them looking extremely gullible (easily deceived or tricked, and too willing to believe everything that other people say ), hence when people say it wasn’t the BOD’s fault it was that nasty major client, I think they are all equally to blame.
Placing supported by the Company's largest existing shareholder, the Manners family (That states "supported" not participated) SML needed Manners support because as the biggest shareholders their holding would be diluted, even though it was only a very small dilution you would want their blessing to do it, so obviously they gave their support for the raising.
I may be wrong but that's how I read it.
troutisout, The RNS stated that "participation by three directors, two employees and a consultant" obviously that is the order in which they were offered, directors would have had 1st refusal and so on down the line, so the only person that could possibly fit your cornerstone description would be the consultant?
dvh, it would appear they did actually have a plan A, they were just going to pay for Redmoor in cash, hence it answers my question as to what happened to all the money between 13th and 29th May, apparently 900k was unexpectedly soaked up by LCCM, I say unexpectedly because if it were know about in advance, they wouldn't have agreed to pay NAE at the end of May.
The major client is obviously part of a much bigger entity than SML, so trying to take them through the courts in a foreign country will be both time consuming and very expensive, I think the reason they haven't issued court proceedings as yet is they can't actually afford to do it, so I am still of the belief we will never see the 4mil.