1 June 2023
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite and graphene company developing sustainable new age materials, is pleased to announce the appointment of Isabel de Salis as a Non-Executive Director on the Board of Tirupati Graphite, with effect from 1 June 2023. The Company also advises that Douglas Wright has resigned as Non-Executive Director of the Company with immediate effect to pursue other interests.
Isabel has over 25 years' experience across capital markets, including business consultancy and investor relations for AIM and Main Market companies. Isabel is currently a Consultant at St Brides Partners Ltd, which she founded in 2001 to provide investor and public relations advisory to listed companies. She served as CEO at St Brides until 2019. Isabel is also currently a Director at Lepanto Consultancy and Cadenza Developments.
Shishir Poddar, Executive Chairman, said:
"We are delighted to welcome Isabel to the Board as a non-executive Director. Isabel brings with her deep knowledge and expertise across capital markets and business strategy. Her exposure to entrepreneurial growth, including building and growing her own business and working closely alongside high growth companies, will benefit Tirupati significantly. I look forward to working with her as we drive Tirupati forward to become a leader in the flake graphite market.
"On behalf of the board I would also like to thank Douglas for his time at Tirupati. He joined at an important period of growth for the Company and provided valuable direction. I wish him well as he leaves to pursue other interests."
For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar - Chief of Corporate & Business Development
+44 (0) 20 39849894
Optiva Securities Limited (Broker)
Ben Maitland - Corporate Finance
Robert Emmet - Corporate Broking
+44 (0) 20 3034 2707
+44 (0) 20 3981 4173
FTI Consulting (Financial PR)
Ben Brewerton / Nick Hennis / Lucy Wigney
+44 (0) 20 3727 1000
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 1 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.