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Tirupati Graphite Plc ( (GB:TGR) ) has shared an update.
Tirupati Graphite reported unaudited half-year results to 30 September 2024 showing weak operational and financial performance, with only intermittent production from its Vatomina project, Sahamamy on care and maintenance, and severe liquidity pressures that led to creditor arrears and share-based payments to directors. Governance concerns, missed reporting deadlines, and the resulting August 2024 trading suspension on the LSE prompted significant board and management changes, new accounting systems, and a multi-stage refinancing using convertible loan notes and placings, which management says have put the group on a firmer footing ahead of a planned relisting and operational improvement programme.
More about Tirupati Graphite Plc
Tirupati Graphite plc is a specialist flake graphite producer focused on supplying this critical mineral for the global energy transition. The company operates graphite projects in Madagascar, notably Vatomina and Sahamamy, and is listed on the London Stock Exchange, although its shares are currently suspended pending completion of a turnaround and refinancing plan.
Technical Sentiment Signal: Sell
Current Market Cap: £8.09M
See more insights into TGR stock on TipRanks’ Stock Analysis page.