Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Correction
Should read "£10K"
If anyone's suggesting that a CFO of any company would opt for 25K worth of shares in lieu of 35K sterling then please stand up; to discover we were having our financial well-being overseen by such an ignoramus would be clearly tragic, and the SP would surely plummet.
He is the person who can pay himself. Why would he see it beneficial to be short changed £10?
And to nobody's benefit?
IE
The nominal value of all shares bought, sold or issued is 10p each.
That was the point of the share consolidation.
Their value on 3/09/21 when they are issued is simply what they can be sold for then.
So if he's owed less than £25K (roughly 350,00X7p), he'll be better off taking the shares.
Trouble is, there's no telling what he's owed.
He's no choice.
To pay wages.
Great
Tuckman
"all is going to plan unless we are told otherwise."
Where were you when the Maersk sea trials were going in for five years?
at La Parilla.
Lightning and rain all day.
And the summer storms are, generally speaking, the wettest.
New Spanish record today.
47.2°C recorded in Montero, Cordoba.
It won't be far off that at la Parilla.
I don't know the temperature ATM but yesterday evening it was 36°C at 21:00hr in Caceres.
Old Mother Reilly.
If you look on that Facebook page you should be able to see those photos now.
They don't show much on a mobile phone, they're best viewed on a bigger screen.
The car park, however, is clearly visible on any device and is situated just before the site entrance.
Best Regards
IE
I'll have to join Facebook first, but yes, I'll try that this evening when I've finished putting up shelves, and it has cooled down a tad.
Site configuration can change multiple times a year.
If anyone is concerned about the car park, post an Email address and I will send the photos I took last Sunday.
They don't show much as they were not taken from a massive elevation but there is quite a good one of the car park quite clearly outside the barrier and security hut. There is also one of the sign notifying visitors of the site regulations which, I seen to remember, included one stating that only authorised vehicles allowed past the barrier.
There is also one picture of the new reservoir.
"drivers compartment" perhaps?
The 'glass cage' I refer is the drivers ****pit on any digger/handler used on site, not the security guards cabin.
It gets hot in there.
No the car park was outside the site gate and the plant I was most familiar with was a telescopic forklift. Old CAT type. Haven't seen one of them in getting on twenty years.
Definitely didn't have Aircon in the UK, but, to me it would be essential in La Parilla. There's very little escape from the sun out there.
I went to La Parilla last Sunday and, from the main car park, I could see two Aircon units bolted to the back of the nearest site hut, the security guard looked quite chilled when he came out of the gate house but some of the plant looked quite dated tbh.
I would not like to be sitting 12hrs in a glass cage in that heat with no chiller!
Hope that helps
IE
I finally made it there, thanks to those coordinates.
It would have been impossible otherwise as others, I am sure, can testify.
Not much to report on, it being Sunday. There were a couple of cars and a crew minibus in the car park and I had a chat with the gateman but he knew less than us about operations.
He certainly had no knowledge of Wres moving towards a seven day working week.
One thing that did surprise me was he said that, although he was aware that Wres was a UK company, La Parilla had many subcontractor companies working there and he had never met an English worker. They are all Spanish.
He has never heard of Australia.
Otherwise they would have drawn down more.
At these volumes, it will be enough to sell 1.5M and the SP could even halve.
" If the price falls below 6.4 then they may make a loss"
If the price falls to 4p, Atlas can draw down the same shares they sold at that price for 3.40p (15% discount). All they have to do is order them within three weeks from the day the SP reaches 4p.
In fact they could draw down up to £2.15M worth at that price if they so desired.
Gotta be their interests to use next week's share placement to sell this down IMO, regardless of what they paid for them.
IE
The way I perceive the situation is that if MM releases the figures before 11th, before Atlas are issued their 1.5M shares, then he's on our side.
If, on the other hand, he gives them a week or two to drive the SP down before giving them out, then it's still mates rates and freebies for the 'In Crowd' at the expense of private investors.
Which do you think it's going to be?