Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Concur Stej
'Often peoole on BoDs leave when the job is done' - And it was done WK power and dragline, DFS complete and no progression of MT for him to procure (see last RNS)
'While we have a EPCF agreement for the development of Monchetundra, the Board do not believe it is appropriate to commence immediately due to the ongoing sale process of the Russian assets'
'Not sure why some are reading anything negative into it tbh' - It's Aubrey!
'If things were bad, surely they would just stay on and take the paycheque until the end' - Precisley, good management IMO
Thanks, that was the other point I neglected to mention 'JN didn't leg it, he retired....Job done'
A JV without JN involved in progressing such a project at least until ready to commence - I think not?
As you say he's completed his work here.
A JV is absoloutely not the option the company is considering or wants to progress, if this were the case why would they have not immediatley triggered the Sinosteel agreement post DFS? This would be last resort and leverage at best IMO.
Why also are we not seeing the DFS?
The clue is in the RNS, 11 times in the last 2 releases on the 3 July 23 the company cannot make it any clearer?
3 Jul 2023 07:00
RNS Number : 6535E
Annual Results and Notice of AGM
- In the meantime, work has continued on optimising the asset base prior to a possible sale.
- The project is now being considered in the context of the Company's proposed asset sale.
- Possible sale of Russian Assets
- We acknowledge shareholder frustration regarding the duration of the sale process, however, we also note recent precedent transactions which have successfully completed despite the geopolitical situation.
- As ever, there can be no guarantee that Eurasia will enter into binding agreements regarding the sale process.
- While we have a EPCF agreement for the development of Monchetundra, the Board do not believe it is appropriate to commence immediately due to the ongoing sale process of the Russian assets.
- newly appointed CEO Vasily Kudrin is in charge of pre-sale activities.
3 Jul 2023 07:00
RNS Number : 6537E
Approval of DFS and management changes
- Company's focus on the possible sale of its assets in Russia, including the Monchetundra project.
- the Board does not believe it is appropriate to commence construction immediately due to the ongoing sale process of its Russian assets
- Konstantin will have oversight of the ongoing discussions regarding the sale process.
- there can be no guarantee that Eurasia will enter into binding agreements regarding the sale process.
Yeah sure toffers so in your opinion PGM’s would not be sold from Russia via proxy….making the entire process x times more expensive for the manufacturer of course?
'From what I have heard, the BoD got a little too greedy back in 2021, and could have taken a deal at a much higher price than we will get from this current sale (but they won't tell you that!), and Keith ignores most investors'
This one we have done before, conjecture at best given the company is and always has been tighter than a ducks a*se?
We do however know the company were clearly developing a serious mining district with the Russian authority which would could and should have benefited the globe in regards to the green metals most of these hypocrytes (politicians) claim are desperatley required?
Despite this fully trust the existing BoD you are not going to remove a BoD aligned with shareholders particularly at this time, shareholders need to trust their investment we have all been seriously down on this share at one time or another we have a DFS things are now possible.
'Del has so very astutely/intelligently IMO already put together so many many very important questions that let's face it deserve an answer now!'
We have all had a sober reminder as to why at this stage in the proceedings it is in the BoD's hands and interest to move this forward at the pace dictated by circumstance and by their expertise in order to do so.
We see what occurs when issues that do not comply with the Russian state (Calsburg and Danone) the BoD so far have steered us clear of such drama, no guaruntee they can continue to do so point being shouting from the roof tops until any deal is completed is not going to happen and no amount of desperate pleading is going to change that.
Further to that we have our own political horribilis which could apply sanctions on anything at any time?
It is as some here indicated the Ukraine offensive to date is a disaster the more desperate things get the more they may be inclined to lash out. Europe courtesy of the US is at an all time low IMO, fighting a needless war contributing to decimating a country it's people in what is increasingly looking like the mosty ghastly of humiliations and humanitarian catastophe.
Until the powers that be plug in to the common sense socket we are prone to any number of potential shocks moving forward.
They want to replace the BoD member who owns over 3% of the existing shares with ??? with likely zero % of shares and assume that will result in a magical company transformation whilst in a country at war with NATO?
These are the people who were setting up an EUA ‘action group’ not long ago….what happened to that not so much action I guess?
Totally irrelevant the accounts were RNS’d.
Voted for all resolutions as still get to get a cognitive reason as to why changing CS or BoD is going to change anything other than ‘any of the current BoD could take over’ which defeats the object entirely as they are aligned with current company objective?
And spend all weekend on the bb despite waxing lyrical how interesting, clever, qualified they are…subsequently label anyone invested as being part of a crew despite them posting multiple X more posts than the ppl they label?
Extremely weird behavioural traits which has resulted in….no one paying a blind bit of notice 😆
Dear me Toffers have a day off FFS it’s pathetic.
Magnum that’s purely your opinion, like myself you don’t know the safest option as you do not know the full facts.
That ‘option’ is always a possibility this fiscal year depending on SH’s voting for the option and the company considering it necessary, the question should be what for?
As for previous raises the company raised via ii at 26p this raise enabled the drag line and power commission at WK and we also see a further loan out of over $15 million to the various subs.
This was a successful raise by the company at a huge premium to todays SP.
Yes TC as you well know a raise was not necessary for the past fiscal year, which is what you have been claiming since last autumn and did not occur.
The new AGM will represent a new fiscal year, subsequently the ‘option’ to raise is in the AR.
Is there anything else you are struggling with? 🙄
2 weeks ago you were informing everyone to sell up as the company would not get their accounts audited.
No clearly others are capable but given the region we operate and current political climate you need to be careful here, I don’t think some consider the hoops we may have had to jump through to still be trading you also need to understand the management sense to already have EUA in subs and banking arrangements in place.
It is also clear EUA have a positive relationship within Russian mining authorities have you considered this and any impact of change?
Anyway your vote your choice I’m voting for CS.
Somehow not seeing an improvement on that suggestion? 🤔
So who do you want to take over?
It’s all very well shouting and screaming for change but you need a constructive plan?
What’s your plan if you remove CS?
Change to what precisely given the current geo political storm and the location of the assets what and who are you considering changing too?
I can assure you I am not duty bound lol 😆 I just don’t see what more he can offer his part was WK EPC the DFS and in that regard he has delivered potential for sale IMO?
I would like to see the DFS result too and also the resolutions will need to look at these in more depth before voting but overall feel positive post the AR this week, but we are in rocky times any escalation to the madness could compromise any forward plan?
What is strange about the CEO who specialises in EPC leaving having completed EPC at WK and DFS completion at MT?
What exactly is left for him to do?
What is strange is people appear to want the ex CEO to continue to collect a wage when he’s got nothing further of value to offer while moaning about director wages?