Member Info for HarChris

I agree with your comments below CS - Lyn appears an ambitious businessman to me so I don't expect success or failure to be based on effort or motivation, it'll be one of competence.

Would still feel a lot better if some big director purchases land soon though and it would signal the start of a new chapter and a shift in news flow.

I'm buoyed by the price action here... We've seen an attempt by traders to turn what was a brilliant important update into nothing but another 'sell the news' event but it looks to have been unsuccessful with a move north now to 52 week highs the next target.

Over four weeks since we were informed they would 'provide an update to the market in the coming weeks'

Clearly working hard to get something over the line... will soon find out whether it was smart to be in or on the sidelines whilst this wait goes on.

No, I just pointed that out. Capacity reached 30ktpa in Feb 2023 which was part of FY23 accounts. It didn't increase in FY24 and now we're in FY25 with an effective capacity of 20ktpa, so certainly not year on year capacity growth however you want to look at it, either declining or flat. There has been YoY growth in other metrics, I wasn't arguing that.

Anyway share price remains fairly healthy, recent news has firmed it up so let's see where we are and if there's anymore news through the rest of July.

''And I won’t understate how important it is to be producing like you keep saying, but to me at this stage the most crucial aspect is capacity growth. And the “ incompetent” Shishir and his team has delivered this YoY ''

You specifically said yoy capacity growth which is incorrect. Please don't be misleading like that.

And we'll agree to disagree on production. Producing for years at a loss and going backwards in terms of numbers is arguably worse than remaining an explorer then hitting the ground running when you do reach production.

That's not quite true actually Saluc. TGR reached 30ktpa capacity in Feb 2023 and hence in FY 23, they are now in FY 25 with 20ktpa effective capacity due to downgrade so Shishir has not delivered YoY capacity growth. At best it's been stable (but overstated) since FY 2023.

I never said Shishir wasn't carrying risk? Of course he has a lot to lose. Incentive has never been an issue but (imo) incompetence is the driving factor.

See we don't hugely disagree. Shishir has always spoken a great game and that's how he pulled off funding in the past... I just think he's now been found out now and appears to me to lack the skills needed and the team around him to be successful here (in what is a major challenge for all competitors, too). I'd say to both of you that if Shishir pulls off even half of that (up to) £80m debt financing on decent terms in the near future then TGR has more than a fighting chance and would be worth a higher mcap than they are currently at today. I just don't believe they will whilst you do, that's fine. And if it does I still expect a painful placing to come first at less than half the price of the last one. But we wait to see on that and it's what makes debating this more interesting.

I wasn't going to post again but i'll answer your question as best as I can.

With TGR it's not a case of whether I think it's overvalued or not, it's that I think it will most likely go out of business within a few years. Last July TGR was unable to cover their debt in cash, a mere £160k and instead had to come to an agreement where they paid a higher amount (£220k) in shares instead.

This month TGR needs to find £166k and we don't know if they are sitting on that much cash as of today and then in December £910k is due to pay off the original cln. After that they’ll be £1.86m cln left so £110k due in Jan and then the £1.86m to be repaid in July next year.

I believe that explorers that have high grade projects and have followed all the correct processes and have strong people in place are far more likely to (i) garner the necessary funding and (ii) execute successfully than TGR.

TGR have been in production for over three years now and are still barely producing anything (400Tpm/2400T in H2 and likely producing the same or less so far this year).

Simply comparing production or even revenue to mcap is shallow analysis. You need to factor in management competence, project grades, debt, partnerships already in place such as US government backed financing etc

I didn't say that... I'm doubting they'll come anywhere close to achieving the plans laid out today i.e this eight modular expansion plan. I do think they'll gather enough funds (partial vat rebate? An equity raise? Some debt financing?) to survive through 2024.

It's low risk for the 80+ year old new non exec chairman - if TGR fail he walks away unharmed, if they pull it off he'll be handsomely rewarded. It's not like he's bought tons of shares like the shareholders have.

I wasn't going to post again today until you specifically mentioned me in your unrelated post so remember that when you complain!

I do sort of agree that at this point broadcasting how poorly operations actually are won't help his cause but I couldn't help but respond to the post claiming that Shishir is being upfront to shareholders when there's nothing to suggest that.Putting out really ambitious plans that you're unlikely to ever fund is little different to the Liberal Democrats putting whatever policy they fancy in their manifesto.

My comments I think are fair and are a response to rampers on here (not you) banging on about 15p due to this revelatory news.

It is true, no question, that Shishir has a history of promising the world and coming up with an atlas. With that so patently clear I thought this time around he might actually go ahead and achieve the ambitious financing first so that the plans he then lays out are credible and believable, that's all.

Instead, once again, we are back to wordy rns after wordy rns making it something like 32 rns' year to date and yet we don't even know at what production level the company is operating at or if it is even operating at all.

Rubbish, I say it how I see it. When the chairman was appointed recently I said it was unequivocally good news.

You were so close to commenting without making it personal.

Do bear in mind that it was Youval that said August to me last month, rather than my own forecasts.

And I note, unfortunately, that you've been pretty accurate yourself jk.

Your post did make me laugh and certainly rings true when you look at the monthly selling price this year.

Jan - €737, Feb - €759, now wait for it... Mar - €777, April €777, May - €777 ... June €773.

I'm sure if that's true they'll be an RNS any day sharing the Q1 numbers from April-June... after all there's a new intent to keep shareholders informed of what's going on now.

Shishir has never ever lacked communication skills when there's something positive to share or something to promote.

The informed have heard almost all of this before, the plan was always 400ktpa in this modular fashion.

There are some new bits like it costing £363m to get there but what shareholders need is action, not more waffly talk and yet once again that's exactly what's happening.

Why not get the financing over the line first then share your plans? How about share the numbers from Q1 that's recently finished so shareholders know what's actually going on on the ground?

Slow and steady wins the race? If they don't die of boredom first!

You are just someone that turned up yesterday ramping and have no idea what you're talking about.

What? This was clearly fleshed out years ago and is just another attempt at a share price boost to help get this £3m equity raise away. They need to build up interest as soon shareholders are going to be asked to cough up.

There are more words in just 5 TGR rns' than in War and Peace and yet the reality is that Vatomina & Sahamamy are barely even operating right now. 4000tpa production whilst they bang on about 400000Tpa.