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Does anyone remember who emailed Shishir and got the response that he was concerned about a hostile takeover? I remember reading it but for can’t for the life of me remember who it was.

1) Total sales increased by 70% YoY, good effort putting a negative spin on that.

2)Yep

3)Regardless a 49% increase YoY, held back by no $$$.

4)Gross Profit also down as a result of “ramping up” costs a hell of a lot higher this year. Maybe more spent in last quarter who knows..

5)Sorry to hear you had to cut your losses, like I say I’m lucky enough to be able to sit on mine for a couple of years if necessary.

All the best HarChris, gl in your future investments!!

Not an ideal cash position to be in hence the market reaction but let’s not carried away and forget the positives -

1)Incredible sales growth, a company with a market cap of £6.53 Mil bringing in £4.9 Mil revenue..

2)Mr Poddar himself standing down as Executive Chairman, took him a while and the group can probably take credit for this, as much as I strongly disagree with their motives and actions.

3)Production increase by 49% YoY - held back by low capital

4)Over £2.6 Mil owed to the company in tax refunds

5)A few big buys today, don’t write this off as a lost cause just yet. £18,900 being the biggest I saw.

Lots of noise from disrespectful and proven dishonest posters today, I won’t mention any names even though mine has been mentioned once or twice. I think we can all agree management needs to change and I do believe Shishir has come to the realisation that he needs to act or the shareholders will.

IMHO if the tax refund was sitting in the bank before the results were released this would have flown through the roof today, unfortunately that wasn’t the case and out of managements hands, could still be a while until seen.

I genuinely couldn’t call which way this will go but I’m lucky enough to be able to sit on my position, admittedly I won’t buy a single share until Shishir sticks to his word and steps down as Executive Chairman. Building back trust takes actions not words.

She*

If Mr Poddar doesn’t bring Pranagraf back into the fold even I question he’s future at TGR. Great they’re doing work for TGR for free but Shishir will have to choose sides. Bring Pranagraf into TGR or stand down and focus on the downstream.

Great to see customer sales greatly increasing and yoy production increasing but you can’t keep running the company on the knifes edge, must be incredibly frustrating for management being owed over £2.6 million but equally frustrating for SH who keep getting battered.

An important statement below yet most SH will ignore it as Shishir’s word means very little to them,

“The Company has now engaged independent financial advisors to raise funds and is also engaging with professional investors and high-net-worth individuals interested in the Company to resolve the working capital gap.”

You’ll get use to it, he recently made that much noise that the company was being taken private the company had to deny it in an update.

Easy to say with hindsight, just as easy for me to say if we received the tax refund in March when they believed it to be imminent the SP would be sitting a bit higher.

In the grand scheme of things, my point of view is as long as we keep producing, stay afloat until funding is secured for development of the Suni acquisition I’m happy enough to be patient as I always thought of this as a long term play

In no way am I accusing you of being part of the group, not that there is anything wrong even if you were. I personally disagree with their actions but I do not blame shareholders who are campaigning for change.

But what would you have preferred? Another raise? I’m not having a dig I am genuinely interested in your opinion.

So what was the better option? Another raise? You’d of loved that for sure, more ammo for the takeover group. Not sure if you read the corporate update but they were not relying on it - Establishment of working capital facilities from the Company's bankers in Madagascar being progressed supported by a personal guarantee being agreed to be provided from the Executive Chairman; and

· Due diligence work continues with DFI's for funding the expansion of the Company's effective production at Madagascar first to 36,000tpa in the near term and then to 54,000tpa thereafter through the addition of a new 18,000 tpa module.

I’m interested to hear your opinion here as an armchair CEO, what was the right decision? It sounds like you would have supported more dilution.

I believe your points to be valid HarChris but I would point out the company has stated it needs 1mil to ramp up production, if they had received the tax refund from Madagascan government when they believed it to be “imminent” I’m sure we would be more likely to hit targets.

So as to your earlier reply saying targets are not being missed due to not receiving the tax refund, I completely disagree.

Firstly lack of open communication, I don’t know why it is so difficult to announce at least a couple of weeks in advance as to when the next set of results will be released.

Secondly the board, I agree the current situation is not ideal, also how long does it take to find a cfo?

You mention management not being able to foresee future operational issues, well if you’d followed mining companies for as long as you say surely you understand these things do happen. Don’t know what use the CEO would be on the frontlines of the mines but I’m sure you’re welcome to suggest it for him. Unrelated note - I’ve seen my current employer on site twice in the last year.

Also if management who have had decades in the game are not “smart” enough to foresee future operational issues who will be?

Some good points occasionally HarChris but I do believe they need a crystal ball to keep you on side.

So you say he’s worked himself up to be a millionaire in a few years yet he is a bad businessman, honestly do not know why the group hired you to be their frontman

Hold on I thought I was Shishir? Oh wait last time I was his brother.. thanks for you input, entertaining as always

Yes it is disappointing when results are not met but I don’t hold one man accountable for the weather and other issues faced (i am not an graphite expert, he is), I also don’t hold him responsible for the Madagascan government regarding the tax refund. I don’t think that’s being ignorant I believe it is being reasonable.

How I decide to invest is by looking in depth to the numbers, not opinions.

I believe judging Shishir on the next set of results to be ignorant.

Zan I completely agree with you, hopefully only to be done as a last resort to keep the company afloat, if it even comes to that. I just wanted to say in my opinion the chances of this company going under are very slim, regardless of results meeting targets with such valuable assets not currently used for production.

I also agree it did cost the company in the way they acquired the Suni assets but I do believe it was the right decision, if the company had to secure debt to purchase the Suni assets would be even more difficult to secure funding now, I think this is what a lot of angry Shareholders are looking over. He is a good businessman in a bear market.

I’d say it would be a lot easier to secure funding if the company announced it was selling off the Suni acquisition as we know it’s valued in the millions. Not even worth thinking about until we see the latest results anyway.

You’re saying we shouldn’t give Shishir time because of low SP? Well there will be a lot of graphite mining companies losing their CEO.

Shareholders seems to forget that the sale of assets is an option, they have stated it in an update. You’ve got all these de rampers and twitter experts slating the company for the last raise, it was the better option by far. There’s always a bigger picture

Forget net asset value? Nonsense, imho the worst case scenario is TGR has to sell off assets including the suni acquisition and work with Madagascan projects.

Can’t help but see it as a positive that the SP holding steady with all this noise going on, presumably because shareholders don’t realistically believe the vote will pass.

No substantial buys he says.. spoke to soon maybe? Thanks for your useful input as always