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Just looked at recent posts on the TGR twitter, which got me musing.
I am quite impressed! I enjoy nuts & bolts businesses like this, producing something tanglible. The new site is up and running, 100s of flake bags ready to go.
It is a significant improvement on the initial site. They are going to be there or there abouts in terms of getting to 30k capacity over the coming months.
They have updated the website, looks much better.
Cost of production has been high. The renewable energy investment is a great move, interested to see what the cost savings will be on this. I would have thought getting energy costs down is critical to making them profitable. The RNS about reducing the need for HGVs in the production process at Vatomina shows it is on their mind.
Even without the acquisition, no more expansion, and assuming basket price remains the same as 2022 (£689) there is a £20m t/o business as we stand, if they can produce and sell to capacity.
Would like to see investment in an experienced sales team, 5 people, internationally based. That sort of thing if done well will work wonders. The graphite will sell itself if the correct channels are unlocked.
Investor focus has been on manufacturing capability which is understandable. I am more interested in how/who is getting in front of potential customers and getting commercial deals done with product manufacturing businesses who need the high quality flake.
I trust Poddar currently - I think he is honest, at least a much better bet than the cretins you would get on the AIM market for example. Apart from the Mozambique acquisition taking longer than anticipated, he is delivering on the enhancement and new build projects. In the UK, 90% of infrastructure projects are delivered late, 25% by over a year. He has done well, and had tropical storms to contend with.
With the Suni acquisition, it’s great he has come out and said there will be no external debt used. But at the end of the day the two Mozambique licenses, equating to 150k TPA, are going to need significant funding. They spent c£3.8m on the new plant to get to 30k, what will it cost for 2 new, larger facilities? How will it be funded?
In summary, the progress they have made has opened the door. Will they walk through it?
Hope this is a fair assessment and would welcome thoughts. Glengarth, appreciate your contributions here.
Absolutely delighted with the share price. Took 25% out at 600 last week which in hindsight was probably a poor decision; nevertheless still have good skin in the game.
Agree that something appears to be brewing here with an acquisition or buy out.
I remember in a Malcy interview that there was some planned maintenance this time last year roughly; anyone know when it is scheduled this year?
Jaytee - I would be very surprised; We were at 450 before the SQZ chatter. As another month goes by at these prices, it is another £30m profit for Kist I would guesstimate so long as their are no issues with production. AA will be looking at other acquisitions and even if we just tick over with Tulip and Total acquisitions, the present and future is very bright. TTF is at 192, we have been trading around the 400 mark when it has been 90 for the most part.