Tirupati Graphite Share Discussion Threads

[flc] 22/11/2024 10:12

Probably not a bad thing as he was appointed to TGR as an associate business development manager and appointed to the Board as an interim measure whilst going through the turbulent spell. Any investors will want to see a far more credible suite of executives at the helm and I'm sure Lynch-Bell is working on that as we speak.

[terminator101] 22/11/2024 08:37

Abandon ship in this lifestyle pish huh. How bad must it be.

[pwal] 22/11/2024 08:07

Is that good news? Any reason he went?

[apotheki] 22/11/2024 07:30

Directorate Change


Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, announces that Mr. Alastair Bath has resigned as a Director of the Company.

The Company is working on expanding the Board in the near term with addition of a CFO and Non-Executive Director(s).

Michael Lynch-Bell, Chairman, said:

"On behalf of the board, I would like to thank Alastair for his contribution to the company. He has been a valued colleague and we wish him well in his future endeavours."

[pwal] 21/11/2024 13:50

Come on TGR:Now, car makers are knocking at the doors of new producers, such as Madagascar and Mozambique, as this year EVs are forecast to account for more than 50% of the natural graphite market for the first time, according to consultancy Project Blue.

[pwal] 19/11/2024 08:21

Lots of Tweets but no news.

[petersinthemarket] 18/11/2024 17:47

10 October 2024 ''Audit and Annual Report: Companies House has granted TGR an extension to 31dec2024 for submission and publication of the audited annual report and financial statements. TGR has appraised the FCA of its status and this extension. The audit for the Company's annual accounts is substantially completed; pending items related to certain treatments under provisions of IFRS influenced by the liquidity position, which the Company is engaged in resolving.'' Shishir Poddar, MD/CEO

[flc] 16/11/2024 09:09

I reckon next couple of weeks.

[pwal] 14/11/2024 08:54

When will the suspension be lifted?

[apotheki] 13/11/2024 20:30

Hybridan Small Cap Feast: 13/11/2024

Tirupati Graphite 6.25p £8.1m (TGR.L)

The supplier of flake graphite, which is a critical mineral for global energy transition, reports on its trade finance arrangements. The Middle Eastern Sovereign Fund has provided a trial pre-production trade finance sum of c.$225,000 for 280 tons of certain grades of flake graphite. There are continuing discussions for a larger trade finance arrangement c. $ 2.4m via a similar, upfront pre-production prepayment. As its operations stabilise to full continuity, sales can be made to other customers. There are discussions with other sources of funding.

[pwal] 13/11/2024 07:38

Well it is some news. Not particularly outstanding. But news nevertheless.

[apotheki] 13/11/2024 07:30

Financing Arrangements and Progress Update

Tirupati Graphite (TGR.L), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, is pleased to announce progress on potentially meeting and supporting its financial requirements through a pre-production trade finance arrangement and provides an update in continuation to its previous RNS.

Trade Finance and further Financial Arrangement

· The Middle Eastern Sovereign Fund (the "Fund") with whom the Company has been engaged with (See RNS dated 10 October 2024), has provided a trial pre-production trade finance sum of c.US$225,000 to the Company for supply of 280 tons of certain grades of flake graphite to an end-customer (the "Trial Deal").

· The Company and the Fund are in discussions in respect of a larger trade finance arrangement that provides the Company with c.US$ 2.4 million via a similar, upfront pre-production prepayment. This larger arrangement is targeted for negotiation and finalisation during the Trial Deal period.

· The first shipment of 100 tons out of the 280 tons under the Trial Deal is now at the port destined to sail later this week and production of the balance quantity continues.

· As per the schedule for production and shipment, it is expected that the 280 tons of shipments shall be completed in early December.

· In addition to the trade finance arrangement, TG is in discussions with the Fund for development finance for the Company's projects in Mozambique.

· The Company also remains engaged in discussions with other sources of funding.

Operations

· Simultaneous to production of the goods under the trade finance deal, sales to other customers of the Company for grades not covered under the deal continue to be made.

· The Company intends to stabilise operations of its Vatomina project to continuity from the trade finance funds received and those expected from other sales, and potential further refunds of VAT.

· As the operations stabilise to full continuity, the Company intends to progress further on all fronts.

Shishir Poddar, Managing Director and CEO, commented:

"We are glad to have initiated a relationship with the Middle Eastern Sovereign Fund with whom we have been working for a comprehensive and long-term resolution of our current and growth financial needs. The trial deal forms a stepping stone, the success of which shall strengthen our position in finding prudent solutions to our financial requirements; a key consideration that the Company has kept in mind in its efforts to protect the interests of its existing shareholders."

[pwal] 04/11/2024 08:18

Shouldn't they be letting us know if there have been anymore VAT refunds?

[cocopah] 14/10/2024 17:05

Fingers crossed but ACP went plop today so not as confident as usual! At least we are and have been producing. We shall see! 🤷‍a94;️🙏🏻😬

[petersinthemarket] 10/10/2024 13:54

REF: my #1390, #1392

It was a big surprise to receive a fairly lengthy note from TGR Admin today.
Most of the content was obviuosly similar to today's published update.

They also said: ....''Please feel free to connect with any further questions you may have which
we will endeavour to answer in line with our obligations towards market disclosure rules''.....

Very encouraging.
pete

[pwal] 10/10/2024 10:12

Good summary thanks. It is an extension up to the 31st Dec so maybe before that. Hopefully.· Companies House has granted the Company an extension to 31

[apotheki] 10/10/2024 10:00

SP Angel . Morning View .

Tirupati Graphite (TGR LN) SUSPENDED – Funding update

Tirupati provide an update from on their graphite operations in Madagascar.

The Company reports operations at Vatomina ‘continued intermittently’; through August.

Production hit 620t, with product exceeding 96% TG.

Company generated $660k in revenues, selling at an average price of $892/t.

Tirupati reports that it continues to progress financing discussions to address both working capital needs and longer term financing.

They are advancing a term sheet for investment to enable steady state production of 2000-2400tpm.

Company is also in discussions with a ‘Middle East Sovereign Fund’ to develop the Montepuez project.

Annual accounts will be delayed to 31st December 2024, with the audit reportedly ‘substantially completed.’

[pwal] 10/10/2024 09:58

Yes. Some decent VAT refunds helping.

[apotheki] 10/10/2024 09:55

Corporate & Operations Update

Tirupati Graphite (TGR.L), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, is pleased to announce an update in continuation to its previous RNS dated 13 August 2024, progress in relation to financing arrangements and on matters related to publishing its audited financial results for the period ending on 31 March 2024.

Operations

· Operations of the Vatomina project continued intermittently during August and September ("the period"), since 2 August 2024, in sync with available financial and material resources.
· Production during the period was 620 tons, with all product exceeding a 96% grade.
· The quantity sold and shipped during the period was 740 tons, earning revenue of US$660,415 and recording an average basket price realisation on sales of US$892.45 per MT; the highest basket price realised to date by the Company.
· An additional 60 tons of larger flake grades, contracted to generate US$63,400 in revenue are at port awaiting shipment.
· The Company has received from customers a sum of US$889,729 during the period towards the sale of goods. Sales continue to be made without credit periods extended to customers.

Consolidating and streamlining operations with the resources available has enabled the Company to substantially address the stressed position for operations in-country and it is targeting consistent operations of the Vatomina project and a return to the previously demonstrated significant operating margins. The Company remains engaged with its corporate creditors to maintain their support as it secures funds to further improve operations and grow production and sales.

VAT Refunds

· In September, the Company received c.US$ 80,000 of VAT refunds, and a further sum of c.US$ 245,000 in October 2024.
· Further VAT refund tranches are expected towards the c.US$ 2 million that the Company was originally owed.

Financing Progress

The Company and its advisors have continued to make progress towards securing finance for both current working capital needs, and longer-term growth finance:

· Negotiations of a Term Sheet have been advanced with a strategic investor for a potential investment package that provides the capital requirements for enabling a steady state 2000 - 2400 tons per month of production, including the gap CAPEX required for it.
· Discussions and due diligence have progressed with a Middle East Sovereign Fund for potentially financing the development of the Company's Montepuez graphite project in Mozambique. In-person meetings were held in September in the UAE and detailed project appraisal by the fund is ongoing.
· Outreach has been initiated with US-based investors who have expressed interest in investing in the Company, with growing interest among US-based strategic and institutional investors following continued US government policy interventions.
· A trade finance deal is being evaluated as an alternative arrangement for meeting the current working capital deficit.

Audit and Annual Report

· Companies House has granted the Company an extension to 31 December 2024 for submission and publication of the audited annual report and financial statements.
· The Company has appraised the FCA of its status and this extension.
· The audit for the Company's annual accounts is substantially completed; pending items relate to certain treatments under provisions of IFRS influenced by the liquidity position, which the Company is engaged in resolving.

Shishir Poddar, Managing Director and CEO, commented:

"We are thankful to the Government of Madagascar and the British Embassy in Madagascar for their support in releasing the VAT refunds due to us, which has helped improve our liquidity constraints. We are also thankful to our creditors who have stood by us in these stressed times as we navigate to streamline our business and return to growth.

"We also convey our thanks to our shareholders for their patience, and to our prospective investors, who see the success we have achieved during strong headwinds. As the only London-listed flake graphite producer, we are committed to overcoming the constraints and to delivering the clear growth potential we have, synchronising with growing demand for this critical mineral."

[petersinthemarket] 10/10/2024 09:46

I assume that the sudden appearance of the update today, only a couple of days after receiving our emails requesting info on progress, was a coincidence, but at least it showed them that investors remain interested.

Looks like it's still jam tomorrow, but at least we have a better feel of current business and it's encoraging to see that there has been some cash coming in.

Nothing more we can do, exept to stick with it.
pete

[flc] 10/10/2024 09:27

Positive update this morning but looks like its going to be a while before shares are reinstated

[petersinthemarket] 08/10/2024 09:46

Email address is [e-mail]

Perhaps if enough investors make contact, they will feel obliged to say something.
I have emailed - lets see if they respond.

There is also a direct telephone contact number: [phone] .

I don't imagine they would say anything pertinant on the phone, but you never know.

pete

[pwal] 07/10/2024 07:31

I've done that. No reply as yet.

[petersinthemarket] 04/10/2024 11:32

You could try emailing a director - does anyone have an address?

[pwal] 03/10/2024 09:05

So it's now over 2 months of processing. Isn't it time for an update?