Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Roger , things do not add up. I know the company has always had champagne tastes and beer money but Unless sales are almost zero the money should not be that low. They had a 180K rollover from H1 and the cost base should have been lowered. Lindab or Rooftile Group could buy this company out of petty cash but if sales from both companies are very low then why buy the technology? I think I am being had here and hold my hands up. Boy was I wrong, This will be an expensive lesson.
Twink - I would assume that Metrotile won't be able to simply outsource another supplier to retrofit a different solar tile onto their Qube design roof tile without some considerable upset to production and assembly lines? Lindab panels being much bigger than tiles might be easier to find an alternative product so I would hazard an educated guess that Metrotile/IKO Metals would be the obvious JV/buyout/finance option. like you say though, HUGE dilution of an already shocking SP or...... could they simply delist?
OHS
OHS
could it be that the sales cost more to make than what they sell for? i also don't believe that they own any manufacturing sites, they don't have sales staff really, and the ceo is based in thailand, and is paid through shares.
i've been following this share for quite a long time now and have lost a fairly large percentage of my value when i sold up around 18 months ago. there is nothing ground breaking in their technology. they have entered 'partnerships' consistently and have all fallen through. who remembers the one in ****stan?
where is sophie, a friend of rr, when you need to hear her calming words?! another dog of an aim company imo. this ipo'd at a hell of a price, should be investigated.
SnipVW - I also had similar thoughts regarding actually 'owning' a manufacturing plant. they mentioned moving to another site in the Sept RNS:
"In May 2023, the Group's manufacturing operations were relocated from Lainate to Tolmezzo in Udine, Italy. This move was made to lower the cost base and take advantage of more flexible working arrangements. From Tolmezzo a core staff, together with a further flexible contract labour team, manufacture Verditek's flexible lightweight solar panels using the latest components sourced from around the world. The Tolmezzo facility is more automated and allows a higher quality product while simultaneously reducing costs."
Fly Solartech are based in Tolmezzo and also:
"Fly SolarTech Solutions SRL is a company of which a director of Verditek Solar SRL is also a director and shareholder. Transactions are conducted on an arms length basis and subject to authorisation by Rob Richards, CEO of Verditek plc."
Why on earth would anyone buy shares in this now?
What kind of money would be needed to buy it outright? mcap of less than £1m now.
Directors hold a large number of shares here. Gavin Mayhew less than 2 years ago bought £150k worth at 1.5p.
Just doesn't add up.
I warned of this eventuality quite a few times. It certainly does need a proper investigation into the RNS output and trading history.
How can this be reported to the FCA? Do I just email requesting they look into the last two years or do you have to put something of a case to highlight unusual activities?
A director buys £150k worth in 2022 and since then the company has done nothing but decline even with supposedly decent sales going on with Metrotile and Lindab. Are the RNSs painting a deliberately bleak picture to allow Rob Richard's other company FlySolartech to buy up VDTK as cheaply as possible?
Ok looking at trades today this is looking more and more odd.
Sp dropped by 33% on a single trade of about £900. Then a three more and it drops to .15p. Since then, amazingly, rather a lot of buys and yet the sp doesn't budge back up. have the mms just arbitrarily decided they want this much lower?
I would think Tom Winnifrith is all over it already. He was raising question marks from maybe 3 or 4 years ago (I am not a subscriber to his site)
https://*************.com/views/71548/tom-winnifrith-bearcast-is-verditek-going-bust-mr-market-thinks-so-and-so-do-i