Member Info for Saluc

We’ll see where it ends up today HarChris, up 27% (at the time of writing) with no news today.

Possibly but with the somewhat positive RNS the other day and with the rampers on this forum it looked like a typical pump and dump, I believe if the group were truly trying to cut their loses we would be lower than we are.

Mhow Why would the requisition group benefit from a low SP?

Most of their backers have huge holdings still. That’s why all the de ramping has stopped (bar a few day traders holding a grudge), they fought and they lost but now we’re all in the same boat.

Even a broken clock is right twice a day ;)

HarChris this is a first for the company, the company has been built and ran without securing long term debt.

A lot of positives to note, including the “Middle East Sovereign Fund”.

We get you sold for a loss but you haven’t got to put a negative spin on everything.

HarChris I bet you’re fun at parties, comforting to here that progress is being made and also that we are being kept up to date.

Crocqman its very frustrating I agree, but you won’t prevail when you try to reason with unreasonable people.

Shishir explains in the article about the fault finding group who I imagine were paid, yet they have disbanded and we’re left with these numpties repeating the same old “questions” over and over again in the forums.

Cheers Whatwhatkid a good read 👍

Strange response from you Fairdealer as you have been fairly critical of management and corporate governance in this forum.

Yet it seems as if you believe the VAT refund being delayed has had a fairly significant impact on the financial situation, putting TG in a “parlous” state.

As we know this is due to factors within the Madagascan government, can it be you are starting to wake up and realise that Shishir + board are not omnipotent and there are factors in play that are completely out of their control, I hope so but I doubt it lol

I quite clearly said I believe it had a huge effect. (It’s clear to me now how you miss important information in the reports if you struggle with my 2 paragraphs lol)

But to say the company has been reliant on it when it stopped over 16 months just doesn’t make sense.

You say that the company was / is reliant on the VAT refunds yet they stopped over 16 months ago. And that did not stop the company from releasing record high figures regarding sales and also production.

Yes I believe it has had a huge effect on efficiency and cost per ton produced but to say the company was reliant on the VAT refund simply isn’t true.

I’m not actually sure who you are referring to as my friend but I hope this link helps https://www.pwc.co.za/en/publications/vat-in-africa/madagascar-overview.html

From the results “ The Company is yet to see the initiation of refunds and continues to pursue them, but understands the delays of returns are the result of national budgetary constraints.”

My understanding Genghis is that is is due to recent elections and to do with the political and economic unrest, I must admit I’m not fully clued up on the situation, this information was passed onto me by a Madagascan friend who hasn’t been able to go home for a couple of years now. A few articles online seem to confirm it’s a bit of a mess over there at the minute (worse than usual)

By untrustworthy people do you mean the previous NED’s who tried to get back in and vote him out?

Haha welcome to Tomorrowyesterday’s level

Well that is what these forums are for, I do believe Shishir has been overly ambitious and I do agree that on face value it can look misleading. Yet I stand by my statement that the company has grown and progressed YoY albeit not as much as he forecasted.

Hopefully with the experienced and well respected Chairman appointed, he will be able to work as needed to restore shareholder confidence in the board

I will tone it back a bit if it comes across that I am misleading as like I said earlier I do respect your opinion, I do believe the posts respond to, to be misleading or de ramping. Or at the very least coming from people who have lost a majority of their savings and are holding a grudge.

This is the highest risk stock in my portfolio by a country mile, yet I continue to increase my holding because of the way Shishir has managed to grow this company without securing huge Debt. Which obviously now is necessary going forward.

I would say a great deal of effort including behind the scenes went into fighting off the coup, like I said earlier the company is fairly responsive in getting back to genuine enquiries. Can you blame them for taking a few weeks to get back to Tomorrowyesterday lol

No I’m not please don’t put words in my mouth.

I have said I would have supported the requisition group had they chose to appoint an NED or 2 but not for a whiteout. I have also thanked the group for giving Shishir the kick he needed to get his board in order.

There are genuine issues that I believe the company is trying to address but for you to de ramp and consistently question Shishir competence considering what has already been achieved. I believe it to be rooted in the fact you had to sell at a huge loss.