Restoration of Listing

Tirupati Graphite PLC

07 August 2023

 

7 August 2023

Tirupati Graphite plc

('Tirupati', 'TG' or the 'Company')

Restoration of Listing

Tirupati Graphite plc, the specialist graphite producer and a supplier of critical minerals for the green transition economy, is pleased to announce that following publication of the audited financial statements for the year ended 31 March 2023 (FY23 Results) on 3 August 2023, and having completed the upload of the FY23 Results to the Financial Conduct Authority's National Storage Mechanism at www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism, it has been advised by the FCA that the temporary suspension of listing of the Company's ordinary shares on the Official List of the Financial Conduct Authority will be lifted with effect from 7.00 a.m. on 8 August 2023 and that the listing on the Main Market of the London Stock Exchange, of the ordinary shares, will be restored at the same time tomorrow.

ENDS

For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:

Tirupati Graphite Plc Puruvi Poddar - Chief of Corporate & Business Development	[e-mail] [phone]
Optiva Securities Limited (Broker) Ben Maitland - Corporate Finance Robert Emmet - Corporate Broking	[phone] [phone]
FTI Consulting (Financial PR) Ben Brewerton / Nick Hennis / Lucy Wigney	[phone] [e-mail]

About Tirupati Graphite

Tirupati Graphite Plc is a specialist flake graphite company and places a special emphasis on "green" applications of flake graphite, including renewable energy, energy efficiency, energy storage and thermal management and is committed to ensuring its operations are sustainable as well.

 The Company's operations include primary mining and processing in Madagascar, where the Company operates two key projects, Sahamamy and Vatomina. With the start of commercial production of its latest 18,000 tpa plant at Sahamamy in March 2023, it now has an installed capacity of 30,000 tpa high-quality flake graphite concentrate with up to 97% purity in Madagascar, planned to increase to 84,000 tpa as per the Company's modular medium-term development plan.

 On 3rd April 2023 the Company completed the acquisition of Suni Resources SA, Mozambique, whose two main assets are (i) the Montepuez Project which holds the mining licence over an area of 3,667 hectares with JORC 2012 defined reserves & resources of almost 120 million tonnes; plus (ii) the Balama Central Project, which has a mining license over 1,543 hectares with JORC 2012 defined mineral reserves and resources of 33 million tonnes. Both projects have licenses permitting build out to an annual production of 100,000 and 58,000 tons of flake graphite respectively.

 TG believes that the addition of these projects provides the Company with sufficient resources to achieve its ambition of satisfying 8% of the estimated global flake graphite demand - of around 5 million tons per annum - by 2030.

 

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