Business
Q1 FY24 Update
Q1 FY24 Update.
About this update from Total Graphite Plc
[{"type":"text","content":"\n\nThis announcement includes statements that are, or may be deemed to be, \"forward-looking statements\". In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms \"targets\", \"believes\", \"estimates\", \"anticipates\", \"expects\", \"intends\", \"may\", \"will\", \"should\", \"could\" or, in each case, their negative or other variations or comparable terminology. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Company and the Board. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance and results of operations may differ from the forward-looking statements contained in this announcement.\n \n8 August 2023\nTirupati Graphite plc\n('Tirupati', 'TG' or the 'Company')\n \nQ1 FY24 Operational and Business Development Update\n \nTirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite producer and a supplier of critical minerals for the green transition economy, is pleased to provide an update on operations and business development for its flake graphite projects in Madagascar since the start of this financial year on 1 April 2023 ('FY24') and production figures for Q1FY24 (period ended 30 June 2023).\n \nOperations in Madagascar\n· Production ramp-up continues following the completion of the Vatomina and Sahamamy projects, combined capacity of 30,000 tons per annum\no development included strengthening of infrastructure to manage local weather conditions\n· Production for Q1 FY24 was 2,371 tons (Q1 FY23: 822 tons), an increase of 188% \n· Sales for Q1 FY24 were 2,772 tons (Q1 FY23: 803 tons), an increase of 245%\n· The Company remains focussed on reaching monthly production and sales minimum target of 2,000 tons and expects to achieve this important milestone in Q3 FY24 having focused this year on:\no Increasing market reach for its products and aligning operations to meet stringent specifications from clients;\no ...