Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Company gave plenty of warnings of this, finished as a plc now. No doubt will thrive in private hands though.
And there is no evidence that the board will be actively try to save the company in the interests of shareholders only themselves
If they can’t meet debts as they fall due it will presumably be put into the hands of administrators to wind it up.
Me thinks you rather exaggerate. It was only in April, over 6 months after GB left that DVRG notified shareholders that there might actually be a problem with the revenues it had previously reported to the markets. annd it was only the beginning of June that DVRG announced that STC/Labskin were a bust. When the warnings did finally come it was too late. Sure there were some posters who'd been suggesting for a while that DVRG wasn't what it seemed but, these boards being what they are, they were written off as cranks.
Cash flow problems can be managed if they are addressed in time but non-existant revenues/businesses are quite another matter. It's now clear abundantly clear to all ex-DVRG shareholders that GB is/was a fraudster.
Not just GB:
https://m.youtube.com/watch?v=i7Jx5-k0chI&t=951s
So PD a fiction? Or so good they'll help themselves to it?
Have they at least demonstrated it for prospective purchasers? Notably lacking from the website (or can we guess where the offers have come from?). Easily retrofit to any other manufacturers equipment (if the story true).
This entire situation engineered from taking a loan to purchase Glanaco? Without that it's difficult to see how they could have achieved what they have.
Good find T.Rat , at min 17.10 of that video Fin Murray Director at DVRG states "That product is deployed and its working" which is to detect covid in real-time. Can anyone point to one installation of this? It now sounds like it was deception and lies to public shareholders? He then moves onto the next big challenge which is tier one partnerships to essentially scale it out. Can anyone name a Tier 1 partner?
This seems to be all Modern Water deception, as far as we know, the office in the US is closed, all staff have been left go and not a single engineer remains.
Yankee_d1000,
For a deployment see below:
https://youtu.be/cKhSEIvdMAQ?t=153
Also Matthew Wade presentation which was previously available at below link also pictured Modern Water equipment:
https://www.swig.org.uk/wp-content/uploads/2021/10/Matthew-Wade-2022.pdf
Page 10:
Post Pandemic Sensors – Integrated Solution
Collaboration between previous trial operatives to integrate developed technologies to produce an end to end (sampling to data out put) automated solution
A solution that integrates previously disparate
steps of the sample to data pipeline and localises
them on-site
A reduction in results turnaround time
A tool that could be used to enable a sentinel style
WBE approach to be deployed at the National
Infrastructure level
Improved calibration of in-field equipment
###
###
Difficult to believe company is as incompetent as it would like us to believe it to have been...
How much has been spent on packaging PD? Remember this was apparently the situation as early as Feb 2022:
@gjbrandon
At @DeepVerge laboratories in York this week seeing the first production units of the
@Modern_Water #MicrotoxPD assembled for installation. In less than 3 months, the former suitcase size portable unit (bottom) is now smaller than a briefcase. #DVRG #MicroEngineering
10:01 am · 12 Feb 2022
https://twitter.com/gjbrandon/status/1492438614386655235?
If no substance to the claims then the participation in last placing by company secretary is an eye opener:
https://www.lse.co.uk/rns/DVRG/directorpdmr-shareholding-4lze74zghfdx69v.html
Winnifrith take on this share .
Earlier I suggested that today’s news means that Deepverge (DVRG) is a slam dunk zero
Winnifrith comment two days after the RNS .
TEMPORARY SUSPENSION OF TRADING ON AIM
DEEPVERGE PLC
At the request of the Company trading on AIM for the under-mentioned securities was temporarily suspended from 26/06/2023 7:30am, pending clarification of the Company's financial position.
Unfortunately many more with main broker .
See now why I got involved .
Main division, Modern Water.
20th Dec 2023 16:02 Alliance News
Microsaic signs exclusivity agreement for DeepVerge assetsWed,
Microsaic Systems PLC - Surrey-based developer of real-time mass spectrometers - Says it has entered an exclusivity agreement with DeepVerge PLC, a Dublin-based environmental and life sciences firm. The agreement will grant Microsaic a period of exclusivity to purchase certain assets from DeepVerge's Modern Water business. The assets mostly comprise equipment for the lab-based manufacturing of bio-reagents used in related water testing equipment. These included all IP and rights related to the testing equipment including LX, FX and continuous-toxic-measuring machines, and water membrane technology. This exclusivity agreement follows Microsaic's offer to purchase the assets and their rights for a payment of GBP100,00 in cash, payable to DeepVerge upon completion. The exclusivity period runs until January 16, 2024, the signature of a legally binding sale of the assets, or the cancellation of the proposal by Microsaic.
Microsaic current stock price: Trading suspended since July 3. Last quoted at 0.01 pence per share.
12-month change: down 99%
DeepVerge current stock price: Trading suspended since June 26. Last quoted at 0.15p per share.
12-month change: down 91%
By Hugh Cameron, Alliance News reporter