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An update from Tirupati Graphite Plc ( (GB:TGR) ) is now available.
Tirupati Graphite has published a prospectus for the issue of new ordinary shares tied to a previously announced placing and the conversion of several series of convertible loan notes, enabling the restoration of its listing and trading on the London Stock Exchange’s Main Market after a suspension since August 2024. The company will convert about £6.4 million of liabilities plus interest into equity, boosting its balance sheet, and expects admission of 623,886,511 new shares on 27 March 2026, bringing total voting rights to 762,447,931.
The prospectus includes an updated Competent Persons Report from SRK Mining Services, confirming total measured, indicated and inferred mineral resources of about 180.8 Mt grading 7.8% total graphitic carbon across Tirupati’s Madagascan and Mozambican assets, underpinning its growth plans. Management describes the restored trading, completion of the financial restructuring and confirmation of the enlarged resource base as a key milestone that should support the implementation of its improvement plan and reinforce its positioning in the critical minerals sector for shareholders and other stakeholders.
More about Tirupati Graphite Plc
Tirupati Graphite plc is a specialist flake graphite producer supplying a critical mineral used in the global energy transition, with a portfolio of graphite assets in Madagascar and Mozambique. The company focuses on developing substantial measured, indicated and inferred graphite resources to support demand from battery, energy-storage and industrial markets.
Technical Sentiment Signal: Sell
Current Market Cap: £8.09M
For a thorough assessment of TGR stock, go to TipRanks’ Stock Analysis page.