Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
This is not like the previous raise. This is investment to realise commercial potential. IMHO the SP will do well today and certainly hold above 2.16. You have to consider noble lab results too.
Discovery is now just a rubber stamping exercise. They have flowing helium and hydrogen to the surface!
We know they had JV interest previously and that was before they had fully completed a well. So it’s odds on a JV for me.
JV would bring the plant technology they do not have and at lower risk. They probably want to be producing and at the same time drilling additional wells.
Flow testing needed and likely a JV condition. But it’s very good from here. You don’t just find it from one completed drill and not expect to find more.
I meant the last raise not the last RNS
They stated that the last RNS included 3 months working capital.
Exactamundo!1
Different grades of idiot.
RickyK. Exactly. It’s one thing raising funds to survive and secure enough to run another speculative drill but now they are on the path to developing that prospect to commercial realisation. It’s massive and the market is still trying to understand.
HE1 will come back and provide detail about the scale of this and the options to commercialise. I expect they are hoping for a big player JV or buy out.
They have to have it independently confirmed as per the regulatory rules.
So the RNS is basically saying that they did state of the art testing on site and found 4.7% helium for a globally significant helium resource in just the one well. I.e. massive find. They will now get that independently verified whilst discussing the find with anyone who is interested. Which will be a lot of interested.
HE1 included 3 months working capital AFTER the Itumbula well in the last fund raise.
No that is not true. 4.7% helium has nothing to do with grades of helium.
Thanks. I’ll just sell everything and keep the cash in the mattress.
What an absolute berk!
Lorna always does interviews same day as RNS. They usually appear early afternoon.
They had enough for 3 months working capital AFTER drilling Itumbula from the last raise. This INCLUDES full funding of the well.
Considering it’s all gone so smoothly this well I expect they haven’t spent as much as they thought.
Market is still processing the news. I got some more at 2.4p and it took about 20 attempts to buy on HL. For once it really was NT to buy!
The market cap will re-rate. Volatility will be at an entirely new level of SP.
I think you are going to get back to profit GG. Just a hunch……
I think we get £200m market cap on this. The RNS is about as good as we could have hoped for. This is the end of the beginning.
If it’s a clear discovery I would start at 200m market cap. They can’t declare a discovery without independent lab results which is + 2 months so it will be volatile even if they state it’s a preliminary discovery. So much depends on the details in the RNS.
Even if Lorna has literally filled a boing 747 with Helium and it floats away to the moon they cannot state it's confirmed without independent verification. So they are forced to use words like 'positive'.
Everyone knows this. It was massively de risked by the last RNS but everyone knows it isnt a done thing. Some of us are invested because of the potential, which is now more likely than ever. High risk, massive potential reward.
They cannot say it is confirmed without independent lab verification. Surely everyone knows that?