Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
It was in the RNS dated April 2016. Shares were accumulated monthly based upon share price each month. Payment conditions include 50% exercisable on funding for first well being secured and 50% on actual drilling. There will be a dilution (10%?) but if the above conditions are met the share price will have climbed to such a level it won’t matter.
During the past 12 years there have been many obstacles to raising the necessary finance to commence drilling. The $40 pb oil price, the previous administration who achieved nothing for the Bahamas other than devalue its debt, and the absence of the necessary regulations to name a few. As a result, the share price has fallen from 20p+ to today’s level. During this period many shareholders have given up, I suspect the majority selling at a loss. However, the fundamentals remain the same - is there oil or not and can the Company deliver the means to find out? It’s onmy in the last 18 months that all the factors have been in our favour. There will be no RNS’s until a deal is done or we go bust as was stated at the AGM and confirmed by Royscott. This is AIM. You win or lose significant amounts depending on what you can afford to wager. Ive followed every story for 6 years, read every bit of info and remain of the view that the waiting will end one way or another next year. In my opinion, it will be a positive outcome but many think it will not. Let’s hope I’m right. Best seasonal regards to all.
Mike, there are times when you have to do your own research. Frankly it’s better that way rather than relying on others on Bb’s. Find the Moyes Report and digest. It’s an interesting read and will answer your question.
Let’s keep this in perspective. Nothing is actually happening. Today’s sales total about £10k. It’s an irrelevance. We carry on waiting.
Me too! I met Alan Burns several times in connection with another project and he was very excited about BPC. Likened it to pirates finding treasure in the Caribbean!! Been here ever since.....
Page of Cups- I grant you there was a reference to “opening discussions with multiple parties” but nothing in the article referred to a “competitive bidding process”. Please enlighten us as to your sources.
There was no mention of “competitive bidding”, “locked in negotiations” “multiple parties” at the AGM.
Amtech- 2 scenarios: they feel they are so far ahead of opposition that no need to pay more OR they didn’t feel exclusivity worthwhile. If I were betting I’d say the latter but nobody knows for sure.
All I can say is that the point was made to the 3 Board members that the RNS gave a very different impression to that being presented at the AGM. They seem very concerned not to mislead market and to be always factual in their PR but the comment to them was that there seems to be a lack of balance. Simon didn’t meet Malcy and I don’t think they get on.
I have previously posted to confirm RiceMan’s attendance and comments re the AGM. We chatted after the meeting. Everything he says is 100% accurate and in accord with my own notes. He should not be doubted. I continue to hold a significant number of shares and remain positive about the future. However, that doesn’t mean anyone else should follow my example.
With no news the price will drift down until it returns to 1p, the level prior to announcement on 2nd May. Unfortunately, there could be a new announcement tomorrow next week next month or next year! You pay your money and you take your chance ...
“Pete” is not the author. I know who it is and can confirm it’s accuracy. It also ties in with the copy of the posting from the ADVFN board. Copyright does not seem to apply to these posts.
I was there (honestly) and would confirm all these comments.
Directors Fees are not the same as salaries
Sunday/InterestKing, you’ve both remembered that the last Malcy interview with SP (I think it was 2012 or 2013) was so negative it hasn’t been repeated. Potter has consistently refused to meet so why the change now?
IMO this is further evidence of an impending deal. SP would not write off $1.2m without good cause. If he has knowledge of a deal then to continue to accrue options on previous basis is a form of insider trading. He surely has enough (4%!) to guarantee a luxury lifestyle for life so this is a sensible move by the Board and has further enhanced the financial position of the Company.
I like the bit ...”discussions are progressing constructively.”.....
The warrants were issued at 1p so BPC raised £156,000 from the sale. Has the broker kept them or resold? That’s the question.
I read the same interview with Simon Potter and it was discussed at some length on the BPC Facebook Group so I’m content it was a valid statement.
Brynjon- a voice of reason. All potential investors take note.