# Tirupati Graphite Secures £4.5m funding Amid Renewed Investor Optimism (LON:TGR)

- Link: https://www.directorstalkinterviews.com/tirupati-graphite-secures-4-5m-funding-amid-renewed-investor-optimism-lontgr/4121197370
- Published: 2025-05-19T12:54:56+01:00
- Author: Emily Johnson

**[Tirupati Graphite plc](https://www.directorstalkinterviews.com/company/tirupati-graphite-plc/tgr.l)**(
[LON:TGR](https://www.directorstalkinterviews.com/company/tirupati-graphite-plc/tgr.l)),
the specialist flake graphite company and producer of this critical mineral for 
the global energy transition, has announced that it has received total subscriptions
for its placing of zero-coupon Convertible Notes of £4.5 million. Acceptance of 
new subscriptions has now closed. The total includes the first round of subscriptions
earlier in 2025 and significantly exceeds the Company’s target to raise at least
£2.5 million from the placing.

As previously announced, the 2025 Notes will be convertible at the option of the
holder, and by the Company when the conversion shares can be admitted to trading,
at a share price of 3.75 pence per ordinary share, once: (i) the Company has received
approval from shareholders in a general meeting for the issue of the conversion 
shares; (ii) listing of the Company’s ordinary shares on the LSE is resumed and 
the present suspension is lifted, which requires filing of the 31 March 2024 annual
report and audited financial statements, as well as the 30 September 2024 half year
accounts; and (iii) approval is received for the prospectus required for issue of
the new shares.  Preparation for all of the above steps is in hand and an update
will follow in due course.

The Company has received investments in the 2025 Notes from certain directors and
executives as below:

£200,000         – Mark Rollins, Executive Chairman

£100,000         – Murat Erden (before resignation in February 2025), Non-Executive
Director

£50,000           – Christian Dennis, Non-Executive Director

£40,000           – Peter Thomas, Interim CFO

£50,000 was received from Optiva Securities Limited; a related party by virtue of
Mr Dennis being a director of that company.

Tirupati Graphite is a specialist graphite producer and a supplier of the critical
mineral for a decarbonised economy and the energy transition, with leading low development
capital and operating costs. The Company places a special emphasis on green applications
including renewable energy, e-mobility, energy storage and thermal management, and
is committed to ensuring its operations are sustainable. 

The Group’s operations include primary mining and processing in Madagascar where
the Group operates two key projects, Sahamamy and Vatomina with a combined installed
final production nameplate capacity of 30,000tpa, subject to minor capex additions.
The Madagascar operations produce high-quality flake graphite concentrate with up
to 97% purity and selling to customers globally. 

The Group also holds two advanced stage, world class, natural graphite projects 
in Mozambique. Work has already commenced to optimise the economics for development
of the Montepuez graphite project, which is permitted for 100,000tpa production 
and where substantial construction work has already been undertaken by the predecessor.
A table of the Group’s projects is provided below: 

| **Country**   | **Project**  | **Stage**  | 
| Madagascar  | Sahamamy   | Production paused: 18,000 tpa final production plant nameplate capacity | 
| Madagascar  | Vatomina   | In current production ramp-up to 18,000 tpa capacity by December 2025. | 
| Mozambique  | Montepuez  | 100,000 tpa permitted, construction-initiated  | 
| Mozambique  | Balama Central  | 58,000 tpa permitted, development-ready  |

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