Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
At least they’ve agreed not to take a wage until progress has been made.
I agree and have bought more this morning. I’m fairly confident some recovery will come on e news starts to flow. As this vote has been hanging over Plutus for so long it’s hampered progress.
Monty. I thought you meant something was said at the EGM rather than in the lead up to it.
Rockpool pulled out because Paul L left, in strange circumstances, but was set to come back on board if the new boys got in. That is all a bit odd to me. Paul quitting is the reason why we lost Rockpool so clearly some underhand going’s on there I think to cause more disruption.
Who knows what’s been going on behind the scenes.
I would like to think financing must be close to a deal and sites selected for planning applications. Not a lot we can do now hit wait and see if the results follow. Be nice to see this turned around.
What promises were made in the EGM? I’ve not heard anything from it yet. Anyone know?
And absolutely, if promises were made and they fail to deliver then a changing of the guard will happen.
First tweet out for a long time.
It seems the threat of the JIM BoD change has been hanging over PPG for a lot longer than us shareholders realised.
Still a hint of optimism in me on this so hanging on to see where PPG goes in this decade. This year would’ve been better but I’m patient so if there’s a chance of getting my money back, and a profit hopefully, then I’ll wait.
Pablo, Paul Lazarevic leaving was the reason Rockpool pulled out. Funny how he was due to come back in again if the new regime won today. Something smells a bit off abou that for me.
Not much to be upbeat about at the moment as we’ve had no news for so long. A site end of last year failed to get permission but they have many sites to consider. Also, funding first rime round took 12 months to negotiate and sign off, its been almost 12 months since they announced they were looking at new funding so I’m sure news is due before end of March on sites and funding. JIM and all this has merely distracted from progress. Of course some fault was out of their control but things could’ve been done better and managed better. Let’s hope today’s things shake them up a bit and we start getting some action, results and a rise in the SP.
I’m in for the long haul and even got another 2m yesterday so let’s see where we are in another 12 months. Sooner would be nice though ??
Good luck to those still in, me included. I’m expecting an RNS or two this month.
All IMO
Couldn't agree more. Don't mind posts about EUA and a bit of discussion but today has been one of, just one of, the worst days for slanging matches etc. Detracts from the reason why we're here . If you don;t like what someone posts, respond politely, or simply filter them. Today has been a good day for filtering on my portal. I don;t care if you've posted good things in the past, if you stoop to those levels you're filtered.
Let's get this back to being a decent, respectful BB and discuss EUA.
Hi SmudgeDan
Any chance of posting here some info on the meetings and how you think they went and what the outcomes are?
I was hoping to fly over to attend but can't make it unfortunately.
Thanks
But if we do are we going from one problem to another?
One of the proposed directors ran Paternoster, look where that ended up!! Finished with 6.8 billion shares in issue. Will they do the same with Plutus?
For me yes, the current board have taken a lot out, but they have also worked towards getting Gas sites built, new funding without dilution should be sorted and new board members with relevant industry expertise must be on the way. For me, a lot of hard work has been done over the last 12 months so we could end up throwing all that away and wasting another 12 months.
I still haven't decided which way to vote. Depends whether the new Directors (and existing) will agree to take no salary or free shares until progress is made and the SP starts to recover. Only when income starts should they take a salary based on revenue / profit. This would at least protect the shareholders and the company from potential new shares and fund raising.
I've been in Plutus a long time and it is frustrating and all I want to see is value returned. JIM want this too but they're only doing this for selfish reasons and could we end up with money taken and the company bled dry again in some way that means JIM get some of their investment back?
I'm going to the meeting. Flights will be booked, hotel booked and i'll be there to get more info before I vote. Still ne more facts and questions answered before I make my mind up.
@greenhighlander
The last paragraph of the RNS is important. the on-going talks and discussions probably means potential sale talks in my view. They will still work on going it alone just in case but either way, it's positive news. A sale would mean SP rise sooner (months) whereas going it alone would require more patience.
Just my view of the RNS, each will have their own way of interpreting.
I'd like to know what the 'Cash cushion' is at. Hopefully and RNS soon confirming sales and what cash they have in the bank.
Our cash cushion, our zero debt, the progress on the Monchetundra Flanks and the favourable price environment for PGM, particularly for palladium and rhodium, are helping us in our ongoing talks and discussions, and we believe this strengthens our negotiating position as we continue to explore options for our assets".
So, one of the new Directors was in Paternoster Resources. That was a failure and all they did was issue after issue, funds spent and left with a worthless company with 6.8 Billion shares.
Do we want PPG to be diluted and have billions of shares? Any shares issued no doubt will be done to favour JIM and any actions taken will be to benefit them more than anyone else.
I'm still on the fence, are we going from the frying pan into the fire?
We need more information, i'm certainly not voting until I hear more hence why i'm attending the meetings to see where we are. Maybe some information or progress news will be out same day as the AGM.
My opinion on this is, as with an oil company that could be sat on billions of barrels of oil, it's worth nothing until you can get it out the ground at a good speed / rate and sell it. Once this is proved then the SP will rise. Same with EUA, I've not seen much in the way of proven extraction and sales apart from the limited platinum a few weeks ago, and this was restricted by licence.
Once they release totals of how many ounces of each material has been extracted, and how much they made and whether this can be improved on / increased, this will determine the SP levels based on actual sales / income.
That's my view, i'm sure someone else will have a differing one or another angle on it.
Whatever happens EUA has a very bright shiny Palladium future and the SP will rise based on Flanks news, sales news and then hopefully....potentially.... a sale.
I still think we're 1 to 3 months away from sale news and flanks news is part and parcel of this. Flanks news should see the SP rise and sales news, assuming it's going to be good for the last qtr where we were 100% beneficiaries, will all bring rises and profit.
Patience as always and will keep holding through each of these news cycles.
@Brotherjoey
I've been in EUA for over a year and have only posted very recently. No posts or recent posts doesn't mean i'm not invested.
I was using a different site to monitor my portfolio and never commented or felt the need to. Now I've joined lse and still don't post often. Better things to do with my time most days being a retired but very active 52 yr old.
Hi Greta
If that is all fact then roll on the changes.
As mentioned, i'm sure changes are coming and the vote will pass for change but more info is needed for shareholders to make a real informed decision. What we have is not enough and i'm sure most won't be able to make the meeting so will vote based on not a lot.
I'd love to at least get my initial investment back, that would be a good thing right now but we're in this to make money so hopefully whatever the future holds it's positive and increases the SP again.
Initially I thought this might be a good thing, and may still be the case as a major shareholder will want to see return on their investment so it would seem they want the business to recover and move forwards ASAP.
But, it also seem that the ex director Paul Lazarevic who left the business and had a major financial impact on PPG as losing him meant they defaulted on a contractual agreement causing management of sites to be terminated, and along with it income / management fees. Now it seems he may be coming back as a director with the new regime?
If he head the best interests of Plutus in mind why did he leave causing financial losses?
Maybe there are reasons we don't know about yet, maybe they have secured agreements to get back on board with Rockpool and reinstate management of the sites? Although as they are likely to be sold, of which PPG still own a percentage, then on-going management is irrelevant.
I need to know what the new boys have in mind, what experience do they have, are they still looking at power provision and developing new sites or taking the company in a different direction or even different industry?
I've never been to a shareholder meeting before but I might just fly in for this one to get to see the whites of all their eyes and maybe even ask some questions.
Too many questions and no answers currently so undecided on which way i'd vote now and will wait and see on the day.
Unfortunately most will probably just vote without having more information to hand to make a more informed decision so it is likely a change of board is imminent.
Anyone else planning on attending?
Why do people feel the need to rise and respond to the many idiots on here and feed their drivel!!
Makes it easier for me, filter, filter filter, lost count how many I've added over the last 10 days.
Soon this will be mostly green little boxes with more relevant and quality post in between :)
I've got 6m and sitting on a big loss currently.
Just going to sit and watch to see whether this can be turned around. I agree with other comments, to many big investors in here that want their money back, with a profit, so confident it'll get turned around and move up again, it'll take time but I can be patient and willing to wait as long as needed. I'm keen to find out what the plans are for the new three potential candidates if they get in. Will they take a salary, will they purely be rewarded based on results (which would give me some confidence) . Wait wait wait...…..
Actually the RNS on 24th October clearly states 'Strategic Options' so while it does go on to say that if a sale was to go ahead the company would fundamentally change, in no way did the RNS imply this was the only path being taken. Strategic Options could be a number of things.
Eurasia, an established producer of palladium, platinum, iridium, rhodium and gold is pleased to announce that CITIC, one of China's largest investment banks and VTB Capital, one of Russia's largest investment banks (together the "Banks") have already started (even prior to signing their respective engagement letters) assisting the Company with strategic options for its current mining assets (the Company's Kola and Urals assets (the "Assets")), including assessing the proposals set out in the announcement on 15 September 2019.
Looks like it could close at or above 4p. Would be nice if it did, as excitetment builds towards the next RNS announcing flanks or income, or both, 4p will be history and then news of a deal and who knows where it'll end up. All unknown but potential is there....