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Tirupati Graphite Plc ( (GB:TGR) ) has shared an announcement.
Tirupati Graphite has resumed operations at its Vatomina project in Madagascar, aiming to achieve stable production rates after facing liquidity challenges in 2024. The company anticipates increasing its production capacity significantly by the end of 2025. Additionally, Tirupati has initiated a strategic investment and fundraising effort, receiving over £1 million from investors, including company directors, as part of a larger proposed fundraise. These funds will help stabilize operations and meet existing demand. The company is also addressing overdue balances with creditors and planning to convert existing loan notes into ordinary shares to improve its financial standing.
More about Tirupati Graphite Plc
Tirupati Graphite Plc is a specialist flake graphite company that produces this critical mineral essential for the global energy transition. Its primary focus is on the mining and processing of graphite, with operations concentrated in Madagascar.
YTD Price Performance: 0.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £8.09M
Learn more about TGR stock on TipRanks’ Stock Analysis page.
