Member Info for HarChris

Https://www.coindesk.com/price/bitcoin/

'The one thing Argo has going for it is the gift of this insane market cap. They should smash it down by raising as much as possible. These silly £5m raises are just treading water. Helios deal expiring in December is existential.'

Raising isn't a magic wand swipe, it involves finding IIs that will buy in at a share price equivalent to the insane market cap you speak of.

There is an historically low level of liquidity on the LSE at the moment, finding IIs willing to throw $20m, $30m etc into Argo a few months before the halving is no easy feat.

I was just about to close my trade but this move in bitcoin in the last hour or so is very positive! I don't think we'll see any raise in at least a month so worth letting this run and run.

I'm interested to see if we get any TR1s soon from the 9.5m shares issued to IIs as part of the placing, most likely it's gone to holders already at or close to the reportable thresholds.

Haha I did indeed!

I don't think it's unreasonable to say that virtually no-one besides yourself thinks reporting the monthly results between the 8th and the 13th each month is an issue. There is no volume here but today the only trades of any size are two buys, not a single sell over a couple of hundred quid.

So nobody has become unnerved today by the lack of an rns... It will land this week and will dictate what happens next, hopefully despite all your cynicism you are still hoping the results are positive and the share price starts its recovery.

I'll go one step further and argue that Shishir *has* been telling us that any private buyout is off the table through the management's actions over the past month or so.

(i) Hermant Poddar steps down as NED

(ii) Two new NEDs make the Poddars a minority on the board for the first time.

(iii) Today a photo is shared on location in Madagascar of Shishir with one of the new NEDs, Murat Erden, but no Poddars.

_________________________________-

Progress on the corporate governance front is happening.

And of course there's been one major bit of positive news alongside, the signing of the Orion CLN restructuring.

That probably explains the relative share price resilience.

The share price was only 2.1p when it seemed like full steam ahead for the next twelve months or so.

Since there's been considerable disruption, production affected in January and now through February, guidance pulled, some maintenance postponed, suspended payments to critical suppliers and we've been informed that working capital only sees the company through to the end of February. And what looked like a potential V rally has fizzled out.

The share price has been extremely resilient considering.

You made an account today just to ask this? You have no wider interest in the stock market?

Exactly, the vast majority of their ownership is via Tirupati Carbons and Chemicals PVt so they don't have over 50% of the voting rights, they have ~28% between them, including shares they hold individually.

'Is there a placing due? Thanks.'

There's always a placing due because each small raise simply pays down a tad more debt and cash resources remain extremely modest, with no meaningful cash generation to shore up the bottom line.

Personally I think the management would be best to hold off rushing any raise and if the share price goes ballistic over the next month then try their damn hardest to raise $20m+ - even that won't keep them alive medium term but it will buy them a little while post-halving.

And 'go ballistic' it would if BTC steadily rose to $100k from here.

The definitive answer is the one released via rns, most recently. You are searching for confirmation for something which simply isn’t true.

Just look at the thread titles being created now and you’ll see how eager some are to spread anything perceived as negative without any desire to fully verify that information. Don’t add to that ugly atmosphere if you’re genuine.

I follow tons of small cap companies and not one, not a single one, commits to putting out a monthly update on the same date each month. There’s no reason for that sort of regimentation and will only cause uncertainty when for whatever reason they aren’t quite ready on that exact date.

As far as I can see they always report within the first 9 business days of each month, this one should be no different.

How many shares does it say they have on there then? Pretty sure the Poddars own around 30 million shares between them, there's now 125m share float so their ownership is around 25%.

Well this was my post last week when the share price was 13.5p:

'The next trading session or two appear pivotal now. If BTC can inch further north and Argo catches a sentiment shift we're looking at 20p+ , fail to ignite and i'm sure we'll see it test 10p.

No half measures with Argo!'

Not a single trade on two occasions last week, less than £1000 traded the entire week... I've never seen such low volume of any stock, ever!

January palm update tomorrow or Tuesday - come on DKL let's start the year positively.

It doesn't get more deranged to think Tirupati, in its current state, should be making huge profits but isn't due to Panagraph related fraud. It's laughably stupid.

Basket price in H1 was just £658/MT, TGR sold just 4785T giving revenue of £3.1m. There isn't a graphite company outside of China that's close to being profitable let alone one that achieved production of less than a third of nameplate capacity.

At roughly 50% of nameplate capacity/7500T I'd expect to see some cash generated with significant amounts being produced around the 75% mark.

The rumours are nonsense repeatedly spread by a couple of deranged individuals, that's it.

The company put out the below rns in August to clear up some misinformation but the same individuals just ignored it and carried of with their same line of attack. They shouldn't be updating the market because two individuals keep screaming stuff on a bulletin board.

Besides, what will move the share price is delivering and proving those who doubt the management wrong alongside wider market and graphite sector sentiment improvement.

https://www.lse.co.uk/rns/TGR/update-on-tirupati-speciality-graphite-fh0noy40vzl9zmd.html

To feel that the current valuation is fair and reasonable you've got to conclude that the Madagascar operations, the 30kt capacity with 15kt-20kt run rate guidance for H2 + the Suni acquisition which gives TGR enormous permitted assets and geographic and product diversification and which cost ~£7m and all the years it's taken to get to this stage commands a valuation of less than £12m?

Debt is negligible and less than cash in bank now so all the work and costs to list the company, the years it's taken to get to within a needle's width of being the first profitable graphite producer outside of China anywhere in the world (large/jumbo flake prices remain high) and in a sector that's at the heart of the energy transition with many forecasters predicting a graphite deficit starting at the back end of 2024 and lasting right to the end of the decade comes out at a £12m valuation?

Failure is being so heavily priced in now, if the opposite turns out to be true this will prove to have been a very short-lived wild price mismatch.