Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Buda_: re your 09:11. You make a very good point.
SV: well in that case, to me, a vixen will always be 'she', not 'they'. Agreed Zimbabwe is very corrupt; but harking back to the colonial era is not the answer.
Nevergonnaretire: yes, it's good to revisit the actual text. I agree it's ambiguous: "participation equivalent to a 12.25% royalty over all sales" could mean net proceeds from all sales as easily as gross proceeds from all sales. Or indeed, as you suggest, could be gross above a given threshold.
ASI: yes, I agree with you on all that.
Re figures from Takob, there was a projected May shipment with comment that the market would be updated. Since then, no update. IMO, therefore, in all likelihood no shipment yet and therefore no numbers to be had.
But as we know so little about how the deal is structured, we don't know (I think) whether the 12.25% is taken off the gross or the net - and, if net, how calculated. In other words, even with a shipment, it's possible there would not be an accrual to Vast unless it's over a threshold of operating profitability - which remains to be seen.
Re reliance on ZimGov, I'd be delighted to be mistaken but I share your reservations. The idea of running up legal bills and penalties on rolling monthly extensions while trying to keep Alpha (and Mercuria) on board with a real-time Harare negotiation seems unsustainable to me. I suspect it does to all the parties.
Oofy, ASI: in fairness to Rockfordd, he didn't quote it as a foregone conclusion. He say "may" be an extension; said he'd in that case "expect" an extension RNS and added "IMO".
Where I would differ personally is that (a) I'm less confident that an additional extension will be as quick and clean a process as he would expect; and (b) I'm not wildly confident that ZimGov would deliver within the timeframe of any further extension anyway. (Plus, as I've indicated elsewhere, I think the company will probably need operational cash raised soon anyway.)
Buda_: thanks for filling me in. Lol. Interesting, then, that SV being someone who is so woke about gender politics apparently has the colonialist attitudes of circa 1880.
Rockfordd: you are of course completely correct in your reference to what the RNS said.
Where I would personally differ is:
(a) over the fact that the company's current leadership has a long track record of scenarios that don't pan out as projected but in which the headroom gets used anyway. A few will still remember the notorious case of the raising for trucks that were supposed to make Manaila profitable but which were then never procured. They used the money on other things and put the mine on care and maintenance. What the company states as a projection and then turns out actually to do have often been greatly at variance;
(b) in the current situation, the company is almost certainly running on fumes as far as operational cash goes, and in all likelihood needs an operational cash injection very soon - i.e. in Q3.
IMO.
Xcoder: yes. The gold and silver credits are part of the copper processing, so they bump the value. They're not separately reported.
IG: "school teacher in Romania".
A repeat of a line that techguru tried to use twice a while back. Actually a mis-identification as that isn't who I am or what I do.
Currently enjoying an Italian sunset and will properly shoot down your very stupid and silly posturing when I can be bothered to spare the hobby time. You were warned but couldn't stop yourself.
IG: time you stopped digging, I think. Do you really want the full and inglorious recap of your failed past ramping here? I have great patience in the cause of a belly laugh.
The trust and belief in Vast Plc are so endearing 🤗
Hope you're right.
Pecten: "Is that the most eloquent example of ..."
Hopefully not a bad contender 😉
"Interesting that techguru has joined IG in posting again - both having admitted partaking in previous placings".
Yes. They're not subtle, are they? But don't tell the punters. It's not what they want to hear and it'll hurt their precious feelings.
Turbot: you started a new thread and addressed "You".
Not sure who's in your line of fire. If it's me, I'll happily have a rational and courteous debate with you. Have noticed your posts with interest. If not me, I'll hope you get a decent answer from whoever you had in mind. I myself referred to "facts" in reply to another poster, so I'm unsure who you mean.
Buda_: agreed. IMO probably the sort of contemplation that's greatly supplemented by a dextrous hand.
Rockfordd: " no commitment at this time".
That was the RNS of 9 June, I believe. So the "facts" you want us to "stick to", as I understand, are that 17 days ago the company said it can't promise there'll be a placing 🤣
Rick: nah, just as useless and unhelpful as you ever are IMO. You wear your insecurity about your gamble here on your sleeve IMO. Sounding far too thin-skinned and needy. Hope you've managed your punt here sensibly. Good luck - despite your weird fetish for me :-)
Castle: the latest company phrasing in today's RNS is actually this:
"In Zimbabwe, the Company is preparing for the release of its diamonds previously mined by the Company and preparing for their marketing. Upon the finalisation of the process the Company will recommence its focus on the finalisation of the mining agreement on the Community Diamond Concession in the Marange Diamond Fields."
Just to be clear.
Techguru, IG: both wrong. You were both calling the share positively when it still had a long way to drop.
It's a matter of record that I correctly called the bottom on 9th Jan when I posted that a punt might be justified.
SP started rising from 10 Jan. I was right, while you guys were well off track being too early and too optimistic.
Additionally, techguru, you're on record having said my cash estimates for the company were 'bearish' when they were then pretty much spot on confirmed afterwards by the company's own interim financials. We can travel back and look in detail, if you fancy.
But keep on with the fictions if that's what it takes to make you feel good.
*prior headroom
IG: "There will be no placing".
You have a track record of being mistaken on the company's need to place. Vast had no headroom. Why? Because every prior placing has been used.
BPPM makes a loss.
May shipment from Takob was projected but never confirmed, and, even if it happened, might not have generated a net profit to Vast.
Diamonds have not been released yet.
Lenders are circling.
No other cash avenues exist.
Last placing was supposed to last till early May. Capstone swap deal flung a lifeline.
Ding ding. Wakey wakey. AP is still CEO. Tucker still on the Board. This company has ONE proven business model:
https://www.stlyrics.com/lyrics/barnum/thereisasuckerborneveryminute.htm
We'll see where we are in August, shall we?