Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
This company could well be doomed (and I write as a holder).
But it was most odd today Friday 5th with some big sales going through the London market around the 13p mark.
The quote did not budge from 13 - 13.50p; so the MMs must be holding a large tranche of stock or someone is picking these shares up behind the scenes.
Also the Bolsa was higher at close by a small margin.
The news as we know it is bleak: CSN have said no to the mine; the Omani NED has gone with immediate effect; the Omani fund's Singapore subsidiary have commenced legal action in the Australian jurisdiction (not Spain, not London).
And the company have said nothing of substance.
What the hell is going on here?
It should not be forgotten that, although BKY have nailed their colours to the U3O8 mast, that the company has mining rights over a substantial land mass. It is only the controversial nature of Uranium which has halted any commercial progress here to date.
It would be good to hear about other prospects being assessed should U3O8 permitting not take place. And we need some positive cash flow from somewhere. All things considered, I remain bullish.
You couldn't make it up!
Quote (not my translation):
"The blackout registered early this afternoon in many areas of Spain and Portugal due to a failure in the electrical network has not triggered any serious incident despite the fact that this cut in the electricity supply has left more than a million citizens without electricity in all the country.
The collision of a seaplane against some very high voltage French network cables this afternoon caused the temporary electrical disconnection of the Iberian Peninsula from the rest of Europe and the consequent blackout that, in the case of Catalonia, has affected 645,000 subscribers, according to sources from the Endesa company."
https://www.cope.es/actualidad/sociedad/amp/noticias/apagon-electrico-multitudinario-espana-las-principales-ciudades-sin-luz-20210724_1419159
Clearly the Spanish investors on the Bolsa approved - SP up nearly 14% on another big volume trading day (17.2 million units traded). I too was encouraged by the tone of the News Release, and relieved that the stock has not sunk back to the grim days of 7p.
I suppose technically it is possible for MITECO to overrule the CSN, maybe under pressure from Euratom.
Recent weather phenomena in Europe and elsewhere should encourage more carbon-free nuclear power; France has a big interest here and it would be very convenient to have a low-cost (and stable) Uranium source on its doorstep.
I read that France derives about 70% of its electricity from nuclear energy, due to a long-standing policy based on energy security, although Government policy is to reduce this to 50% by 2035. They are also the world's largest net exporter of electricity due to its very low cost of generation, and gains over €3 billion per year from this. Furthermore the French have been very active in developing nuclear technology. Reactors and especially fuel products and services have been a significant export. About 17% of France's electricity is from recycled nuclear fuel.
It is still deeply ironic that Germany imports nuclear generated power from France having banned all nuclear power stations in the Fatherland. And they are still digging coal for domestic consumption.
Wunderbar.
https://urnmetf.com/urnm
Another sale 50% of the previous sale (so a further 144,070 sold with a balance remaining still a hefty 6,454,488) as of yesterday 22nd. July.
Hopefully today's News Release will keep them invested.
News a month old, but still interesting:
"Deputy Prime Minister Yuri Trutnev has instructed Rosatom to submit a plan for the resumption of uranium mining in Yakutia. Rosatom, the state corporation specializing in nuclear power, in 2017 suspended the development of Yakut uranium deposits but is now ordered to resume mining in the region by Russia’s Deputy Prime Minister, Yuri Trutnev."
https://sightlineu3o8.com/2021/06/russia-brings-back-largest-global-uranium-project/
Looks like a statement coming March 8th.
https://www.lainformacion.com/empresas/ribera-retoca-enmienda-berkeley-congreso/2830955/?autoref=true
I'll get it right in a moment!
https://www.citypopulation.de/en/spain/localities/salamanca/
and this
https://www.euractiv.com/section/economy-jobs/news/new-study-sheds-light-on-depopulated-spain/
Sorry flundra they got merged together....
Try this:
https://www.euractiv.com/section/economy-jobs/news/new-study-sheds-light-on-depopulated-spain/
Sorry Overdraft - I was given a bum steer by Alliance News...
"shareholders can apply for open offer shares on the basis of 1 new share for every 16 existing shares"
Apologies to you.
One new for 16 held I think...