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'We've already seen the impact of LTIP's on this share. '
Exactly, they don't have much impact, if any. This is just essentially a way of giving the BOD 2.2m shares between them over a three year period and aligning their interests with ours. They could have doubled that and we'd have just had to put up with it.
The biggest take away is that they continue to act as if the dispute is going our way, for me that's the most important thing at this point in time with how many shares I'm holding pre resolution.
Yes but half has been sold/in the process of being sold to SPR for $22.5m and so that now comes out at $45m (non distressed prices). You can see how, when it comes to vultures sifting through the remains, we aren't likely to see a sum of well over $100m in total.
It's not about simply crossing £1.38 but being above that in three years time. Yes that is easily achievable but it's not a given, even if they win the dispute, it will still require they are successful and don't fail from here.
As I've said before it could have been far more egregious but at this modest dilution in three years time it will make no difference to long term shareholder value and they are now incentivised to see the share price go as high as possible as those shares can make them all multimillionaires if they maximise future value here.
You might not like it from a personal level seeing these directors enrich themselves but it's fine from a company standpoint.
Yes Naewise I think this is a way to get around the fact that they can't buy on the open market now and won't be able to buy until after the dispute and the share price is a lot higher. So at least doing this now gets them a good future remuneration package.
Many management teams give themselves humongous options so this is really very modest to me and points to them truly expecting the DHSC dispute to go their way, so i'm happy with it.
I don't think it really matters, the number of shares awarded in total is minuscule - total shares would go from 70.6m to not even 73m.
Happy with this, ensures they are all incentivised and will still want the share price as high as possible, not just greater than £1.38
Stush no way and the directors able to buy shares right now - there’s obviously been settlement talks going on too, what if the likely difference in settlement cash is £60m vs £10m, that’s hugely material and something the public has no access to.
Right now TGR have to be thinking smaller. The cost to finance the Suni assets in Mozambique is simply too high, it's off the table realistically. What needs to happen is for profitability to be reached across Sahamamy and Vatomina without further dilution, that would then open up the financing options (minimise dilution) for expansion to 54k and with it considerably increased profit generation if executed successfully which would then open up further finances for Mozambique, especially if the environment by then is more favourable.
Pull off the above and we're talking a share price in the pounds rather than pence, fail on the first part (which is needed) and the cost will be extremely painful.
That's bollo*** micoley, i'm not sure I've gone a week without posting on here, come rain or shine.
I commented a number of times regarding Argo's cash generation in the early months of this year recognising it as an obvious positive whilst also highlighting that a few months of profit before revenue is slashed in half isn't going to save them. I don't think I was wrong.
There simply isn't going to be any institutional investment until the dispute is settled and there's a clear understanding of where the company is at so institutions can make the investment case to their clients, but truth be told there probably won't be much institutional investment after because NCYT are fully cashed up and lack liquidity.
Usually institutions first come on board as part of an equity raise or buy with the plan to be involved in future placings but that's not applicable here. Imagine an institution sets out to buy 5% of the company, 3.55m shares - that's 70+ trading days worth of average volume, they'll be paying twice as much before they are half way through buying.
80p, rejected, share price starts drifting back towards placing price, £1.20 offered, not beyond the realms of possibility to be accepted.
Certainly vulnerable to something starting with a 1, which is ridiculous and all the fault of Alastair.
Share price goes up 70%, not a word.
Share price retraces 5% - 'what a start to the week'
It's a 'pump and dump' only if we're back to 50p by the end of the week so let's wait and see - i'm extremely confident this holds above ~60p now.
Currently TGRs basket size for what they are selling in Madagascar is made up of 90% large and jumbo flake and this market has remained resolute with TGRs selling price likely to have actually creeped up year on year rather than fall.
It is true that small battery grade flake remains under pressure and may do for the considerable future. This is relevant as it's what drives sentiment across the whole graphite space as well as affecting the viability of TGRs Mozambique assets however in terms of simply achieving a profitable enterprise in Madagascar prices are still supportive.
https://www.asianmetal.com/Graphite/
See Flake Graphite +195 and +895 ^^^