Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
I don't believe this is as you say "a lifestyle company". Far from it. The board's fees are low, and they all have significant personal holdings in the company. The prospects for the company are excellent IMHO, and we will see those more clearly as the project develops the processing plant once approved and the drill defines what will probably be an excellent copper reserve. They spend now on drilling (hence the extra funds required) to be able to get the best deal for the company as and when they have a JV partner to assist in the copper development. The gold and silver presence in the copper area is also very interesting and the company also has a lot of other places where it has already proven gold and silver. A bit of patience is required and some long-term thinking.
Let me try this!! Don't shoot me down though: In my opinion, taking the RNS in June reporting 31,000 tonnes of various forms of mine waste/ unprocessed ore on the surface (but following that RNS, there was much more found and reported which I don't include here), the value could be about USD2-3 million for the gravity separation period, and doubling that when leaching is completed. Up to you how to add this to the MC though..it's all about perceptions. It could perhaps double the current level.
If the copper JV and results of further Cu exploration drilling are positive, the value of the GWMO reserves could be v high of course...say north of USD400 million for a 30% retained equity in the Cu JV : this could imply a SP of GBP0.058 of course, but all that is just wild guesswork.
V hard to say but I would say USD100 million of total value for all Au and Ag (mined) would imply a total value north of about USD 500 million, and therefore an SP of about GBP 0.073. or about 15X result from today. BUT..pure guesses and could be way off!!
No idea at all about any rare earths as we know nothing much and therefore can't define anything concrete: there is also Uranium on the property.... which will be valuable one day too.
Please note I am using real GBP pricing and not GP divided by 10 as reported on the stock exchange!
RNS looks positive to me. Analysis by a reliable geologist/mining engineer (good credentials: graduate of the Camborne School of Mines, Cornwall , UK)...no hype but just plain reporting...clearly there are solid grounds to be optimistic overall...OMCO mine extension may be there and that is obviously good news. No new info on the mine waste treatment...I suppose this will come within the next month or so as they start moving material to the treatment plant for gravity separation...maybe also leaching....SP is still low