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9p due to having a double bagger at 18p? but what do I know
chartist target - sorry for the temporary distraction there - 18p to breach and then to 27p and onwards allegedly...…..
of the business re-focused on a strategy which is starting to win contractual orders and delivering them on time - with RR leading the way - thanks to Banaman in instigating this - onward and upward - the next RNS will be interesting ……….
at a level I thought we had moved on from...………………….
not to...………….
opportunity here...………….
Wed, 12th Aug 2020 11:30
RNS Number : 9357V
Verditek PLC
12 August 2020
12 August 2020
Verditek PLC
("Verditek" or the "Company")
Market Updates
Verditek plc, (AIM:VDTK) the clean technology company wishes to announce, following its string of new contract wins over the past two months that a number of those projects have already been shipped to the clients despite the backdrop of Covid. These include the first announced order to SAF Pakistan, the UK orders, and Endeco, all of which were despatched ahead of contractual delivery dates.
However, in 2019, RNS announcements were made in respect of two distribution agreements for Nigeria (RNS Number: 7008N) and Australia (RNS Number: 2258A). After these announcements the distributors proved unable to secure the contracts that they had contractually committed to in their original agreements.
With respect to the Nigerian distributor, we have refocussed them to concentrate on market segments in which we are successful, namely diesel fuel displacement and remain optimistic that they will deliver contracts albeit not in the timescales or quantum originally mentioned.
With respect the Australia market, we have chosen to attack the market with a different approach and are more focussed on specific , potentially very attractive sectors including mining and marine, and are no longer in dialogue with the original distributor. Under this new strategy, and with our own sales representative now in place, in country, we have been able to secure our first order, two weeks ago, in the lucrative marine sector, this order has been paid in full and the panels were dispatched from stock.
Rob Richards, Verditek CEO commented; " Since taking over as CEO of the Company in May, I have embarked upon a clear driven strategy , to focus the Company's energy and resources on sectors that I believe will deliver the most profitable and demonstrable results, and capitalise on the inherent advantages of our ultra-lightweight, flexible solar product. To that end the selling efforts of the group are now targeting those industrial segments where traditional solar panels cannot be deployed. This is an enormous addressable market ".
a buying opportunity being created?...……………………..
apparently once we breach 18p the next target mentioned was 23p - to 27p - winning contracted sales will surely put us in a strong position to attain and surpass this?
re-establishing itself...……………...
another tool which can help you frame your analytical review - provide the user with context to form a decision - but not an answer...........
putting this into context - Chartist view - does not account for the Graphene development - and has it has already been said - whole new ball game - setting that aside - we have a product attracting repeat contractual sales by customers with international standing - aligned with a country's green policy - with the business driving to a free cashflow position which it believes it can attain this year... interesting...…..
next target was stated as 27p...…...……………….
and investors are starting to wake up to the this promising company at last
time will tell...…………..
expect to test that soon...……………………..
I have been following and investing for several months and thanks to all who posted their views regarding this promising company. I think you may agree that this being my first post as a long term holder is a good place to start and be. I did manage to further invest at 9.7p as it would have been rude not to! I too could not believe the SP erosion and I was lucky to act when I did. Anyway here's to a bright future.