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Fair points. I agree another raise at 1–2p is unrealistic — but let’s be honest, there’s no real trust left and the “investor confidence” you mentioned hardly exists. Any new equity would likely just be snapped up by the same investors from the last round, which would only decimate existing private holders.

Hitting those production milestones is still the key turning point. The comparison with #BRES is fair, but market sentiment will stay brutal until TGR proves it can deliver. If they actually get to 1,000–1,500mt, then yeah, the rerate could be huge.

Anyways, we’ll find out soon enough what terms this new finance comes on. Until then, it’s all down to whether the board can execute.

The volume is at 106 million. The stock is currently consolidating, which is a positive sign—this way, when good news comes, it has the potential to break into new highs.

I’m seeing a lot of big names from the NATO investment fund tagged in Defence Holding posts. Did they announce any funding deal with them, plus the product details and the MAG7 partner name? If that’s out, the stock is gonna go crazy.

IMHO - the company might want to keep the partner name and product name secret until the presentation. So a midday RNS on Wednesday may be likely.

Last RNS States:

It is very disappointing that a combination of factors including adverse weather and equipment failures have resulted in the forecast production ramp-up being behind schedule. We have a comprehensive plan of remediation measures and capacity upgrades to be implemented over the coming months and therefore still expect to be able to achieve the previous production guidance of 1,500 MTs per month by December 2025. The lower production clearly impacts our cash flow. While there have been some partly offsetting cash savings, we are evaluating the options to secure additional funding.

The company is in a challenging financial position, with the next round of funding likely to be significantly discounted compared to the previous placing—most likely in the range of 1.5p to 2p. It seems the management may be intentionally postponing the release of accounts and the relisting process to front-load negative developments. If not for these delays, the share price might already be trading below 1p.

Filtered

This is looking extremely good to run up to DSEI conference talk from Richard Bassett on 10th 15:00

Scaremongers can try hard but not going to sell a single share until Wednesday.

GLAH

CTO Andrew was the CEO of Microsoft ventures, I have strong feeling the MAG7 partner is Microsoft.

The moment the product and partner is announced this is going to explode and off the charts.

GLA

Never seen crazy buying like this before, lot of interest 5 minutes before closing on a Friday. Monday is going to be very interesting.

GLA

Delaying tactics from the current BOD is no different to the previous BOD. no wonder as some Poddar's are still on board.

last RNS was brialliant but the BOD are letting it down with no comms and updates again.. unfortunately the theme seems to be repeating.

It's great to see the company attracting more investors and successfully raising £4.5 million—far exceeding the initial target of £2.5 million. This is undoubtedly a positive sign, highlighting the capability of the new Board of Directors and the confidence investors have in their leadership. Now, it's all about execution. If everything comes together as planned, this could shape up to be a compelling revival story.

Missing deadlines is nothing new here.. they are least bothered to let investors know the reasons.

IMHO - I would not a trust a single statement from RNS until it is proven. The BoD are big time frauds, my advice is stay away from this company.

£2.5m at 3.75p is 66.67 million shares and another 66.67 million warrants at 3.75p

2019 CLN of £0.9m at 3.75 equals 24 million shares

2022 CLN of £1.8m is under discussion for 10p, which equals to 18 million shares if converted.

Am I reading it correct?

Agree they have fantastic patents and good research company. but no real commercial production and revenue generation yet.

As per the interim results the company had only £3.5m in bank. H1 loss is £2.9m, they are burning cash faster.

IMHO - great RNS today but the recent RNS about financial advisor suggests they are looking for money. I would wait until such thing is sorted.

poddars are not complete out yet, shishir is still the co-ceo and others like hemant, purvi and har**** in advisory committee and key positions.

i’m not expecting them to handover completely as they are the biggest shareholders. but more transparency and better corporate governance is what really needed.

the company is certainly heading in right direction.

Crazy opening after re listing is very much on the cards. IMO a good funding has probably been agreed under some conditions on BOD restructuring and improving corporate accountability.

In the end Poddars had left with no choice and finally realised that they had to give way after all the requisition drama.

2025 got to be the year I reckon.

Where are the accounts?

Looks like company has no intention to publish accounts. Shame on Shishir and Co for screwing investors

Agree, the recent raise was the last chance to prove for Shirshir and the company to turn the share price around. The investors do not trust the BOD given their previous track record, so this would continue to go lower until the company clearly shows that it is profitable and don’t need any further raises for running Madagascar operations.

The Company continued discussions with various potential lenders and it has structured an instrument for raising convertible debt of up to £6,000,000 for meeting its working capital and investment needs for ramping up production and sales at its Madagascar The Company continued discussions with various potential lenders and it has structured an instrument for raising convertible debt of up to £6,000,000 for meeting its working capital and investment needs for ramping up production and sales at its Madagascar projects.

This is going to dilute the share holders massively and they further need more capital to develop the newly acquired assists.

Great the company has clarified this through RNS. But this RNS has no new information, Shishir just reiterated what was said before. All I want to know is what option is the company going to pursue (out of the 3 possible options).

1. Pursue acquisition

2. Alternative investment vehicles for investment in TSG

3. Commercial arrangements with TSG

Hopefully Shishir understands the importance of this deal and get this done soon. So the SP can move on and reflect the growth the company had made over the last 2 years.