Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Same management that recently admitted to not getting the terms of their loan agreement in writing... I'm not trying to derma, just pointing out facts. This is AIM, you need to be very skeptical of management and not give them too much credit - the market certainly isn't. It's a tale as old as time that management destroy shareholder value chasing overly ambitious dreams.
On AIM there is always the risk that management misuses profits... There is a tendency to use the free cash flow for further projects, and those carry risk. It's not as though the plan is to wind the company up and return the money to shareholders, right?
How is it possible that it's both watertight and up for debate? It doesn't sound watertight at all. It seems like it was an informal agreement. If MTL had it written in black and white they would surely simply dispute it.
I know it's not as ridiculous as two mates at the pub verbally agreeing, but it's not far off, either. Does not inspire faith in management - what else don't we know?
If this hits 8p-10p you'll have certainly earned your risk premium!
40% down from ATH despite good results. There must be more to it than meets the eye, shares don't just collapse for no reason. The market really doesn't like the fact that the company didn't get the terms of its loans in writing. Even an individual lending his mate money would probably get something in writing ffs. It's beyond pathetic, doesn't really matter how much money it costs because it points to a MUCH bigger issue with the company and its governance imo. And on AIM, all you really have is trust in management (or a lack thereof).
Not sure he's on your mind, you're just in our faces lol.
Fully funded? Lol. Is this your first time in an AIM mining stock? If production of 100k oz is only targeted, and not already happening, you can bet your bottom dollar its not fully funded!
It's pretty embarrassing that a company worth £100m didn't get the terms of its loan agreement on paper. It suggests they are sloppy and don't pay close enough attention to the detail. Accepting a verbal agreement for a lower interest rate? Is that a joke??