Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Started: NickE, 21 Jun 2024 16:23
Last post: IntraVnus, 21 Jun 2024 18:02
Many thanks NickE for sharing your findings!
I asked the Company about competition and it appears the only main competitor is Foldax but only in India where they are conducting regulatory trials. Foldax raised funds at $135m valuation about a year ago which highlights how under-valued RUA is. I think Foldax complete their Indian trials in late 2025 but then they have to monitor it for five years. So RUA is well ahead of the game of a company valued at $135.
I also asked about the regulatory environment and was advised that devices are approved not specific components or materials. The advantage of ElastEon is the material is proven to work in the clinical environment thus giving a manufacturer greater confidence to use it.
I assume that means that if the heart valve company with the MTA wanted to move forward they could use RUA's material in their existing regulated valve products without having to go through regulatory trials. That's massive for RUA and no doubt a major factor on why they have embarked on a deal for material rather than create a heart valve for licensing.
They do of course have a heart valve for which their engineer achieved an award for its excellence which begs the question whether it could be a commercial offering but I doubt it and it conflicts with their declared strategy. I understand it's just an excellent product used for testing and further development purposes.
Started: StrictlyZinc, 21 Jun 2024 16:31
Last post: StrictlyZinc, 21 Jun 2024 16:31
Perfect “storm” (opportunity) of anti FTSE sentiment, AIM Laughing stock and everyone chasing NVDA and the golden US giants.
If and it’s a big if, this comes off it will be massive!
Started: IntraVnus, 19 Jun 2024 10:33
Last post: Jimzi, 21 Jun 2024 16:03
Best, we don't have placing and warrant worries haunting us - we know the bottom unlike so many punt stocks.
Best get them out of the way now as they are clearly not investors - if only a few traders left when a re rate happens, makes it stronger.
We know that with the right news this could easily hit a quid - much easier if you have holders who realise it and not scalp all the time.
Someone is there for it. Unfortunately retail has been feeding the buyer. Very silly.
If you’re in the market for 50k-100k lumps at these prices, you can thank the sellers for the opportunity!
Surely casual sellers must dry up soon.
Started: IntraVnus, 20 Jun 2024 22:19
Last post: IntraVnus, 20 Jun 2024 22:19
The board update this week can be summarised by:
- The board is now “agile and focussed” toward creating “shareholder value”
- The staffing and management structure have been slimmed down.
- The focus is on three things;
- (a) expanding the profitable contract manufacturing operation
- (b) commercialising the heart valve material (by licence or sale)
- (c) finding a partner to take on clinical trials of vascular graft
- These three things aim to work the company towards overall profitability and cash generation.
To reward management to increase shareholder value that should follow if the above are achieved, further options were granted on top of existing ones at 11p, exercisable after 3 years OR EARLIER IF the company is taken over or there is a return of capital.
This last bit is interesting. Might there be a route out via a partner for the vascular trials? Or is it more likely there might be some action on the heart valve material which is currently being looked at under an MTA by a major?
With regard to the heart valve, a RUA employee recently won the Young Scottish Engineer of the Year award for his work on the heart valve made from RUA’s material. I don’t know what kind of evidence the judges sought to determine amongst all the entrants who produced the most amazing work but I would remind you of the official announcement:
“Our 2024 Young Engineer of the Year Award (YEYA24) in partnership with The Incorporation of Hammermen of Glasgow was presented to Ross McPhillie of RUA Life Sciences for his role in developing a prosthetic heart valve prototype that is transitioning to commercialisation.”
Those last three words can be taken either as industry bluster or carefully scripted phrasing. Given the sensitive nature of the product, I ask myself if the company had to vet the press release and were happy for the phrase to be used in publicity materials. Either the company is confident of this “transition to commercialisation” or they are putting out a flag to alert other potential partners.
Plenty to speculate about but I am encouraged that they have settled the management structure, are fixed on their aims and have been explicit about benefitting from their options in the event of a takeover or a capital return, both of which I would suggest are feasible as a result of the heart valve material and, perhaps, the vascular project.
They've previously said results will be in July this year and that's the usual form of recent years.
I'm choosing to remain nonchalant, I recall the CFO purchasing shares at 50p right before the collapse, normally that would be taken as a good sign!
That said, I'm still of the opinion they are expecting some good news which is what is delaying them announcing the Final Results (believing they want to include an update in the RNS). To my knowledge they have an obligation to formally announce the Final Results.
Musing is all we can do for now!
The MTA is still in force [as they would have to say if not]
Organising incentive options at a small premium a few weeks before any excellent news is better than issuing them at a whopping discount after.
It has been 6 months now and so both parties must have an idea of how its going and rig testing must be near complete. Discussions follow on. I wonder where we are at the moment? Was the incentive RNS housekeeping fast tracked to give an acceptable gap?
As I say, just musing.
Started: tom2468, 19 Jun 2024 09:22
Last post: Popeye62, 19 Jun 2024 10:23
Tom2468 - Good call. It's moving up nicely. But Wayne said on Monday after I had added an additional 92,000 shares it was pointless buying as it was going down. I do hope Wayne has the courtesy and decency to pop by and apologise!!!
Every time the bid hits 11, it flushes out the wet wipes who want their impatient money back from the placing last December. Hopefully, the share will leave this level behind soon.
Big buy order in the system
How good Tom?
DYOR
Started: StrictlyZinc, 17 Jun 2024 20:19
Last post: Jimzi, 18 Jun 2024 19:23
Well analysed and thoughtful assessment. Little to add bar we are cashed up and v important- no warrants. If they handed them out in Dec, (on a one for one basis) you can halve your sp targets - wise BOD didn’t give in
Agreed, good summary from NickE.
Noted 90k bought at full ask on the bell. Cenkos went on the bid at the close.
NickE - Excellent post. Atb Popeye.
Arguably the stock should be valued at about £15m or 20p now. That's based on average industry revenue multiples for the two profitable businesses as flagged up in recent broker notes without adding anything for cash, Structural Heart and Vascular.
On the back of good growth for RUA Medical (contract manufacturing) then a £20m to 27m/cap or around 30p to 40p is realistic. On the back of the MTA progressing to a commercial license with double-digit royalties then 100p plus is conservative (£60m plus m/cap).
Equity Development has a target of in excess of 100p but they have discounted both Vascular and Structural Heart by 50%. Reasonable for Vascular given the lack of activity but less so for Structural Heart.
I saw one broker note (probably Cavendish) that projected circa £10m per annum royalties from the licensing of RUA's heart valve material supply based on the likes of Edwards or Medtronic doing a deal and gaining a 5% share of the heart valve market for a valve containing RUA's material. I think that was when RUA's strategy was to produce a heart valve and now it's the supply of material so I am not sure how that changes those figures.
If RUA were deemed on target for those figures (5% market share would seemingly be low for either of the two companies referenced ) and given a medical device company type P/E of 71.5 https://stockanalysis.com/stocks/industry/medical-devices/ then that would mean a market cap of £700m or close to £12 a share.
Admittedly, that's getting into fanciful territory. A more likely scenario is a takeover for say £60m plus (100p plus ). RUA just needs whoever is involved in the MTA to move forward with it. Big companies, however, are notoriously slow.
The risk-reward appears good given RUA Medical does look solid and set for growth which more than underpins the current valuation given the cash held and reduced losses. Effectively, it allows exposure to the blue sky element for free.
20p after good news isn't optimistic. It's conservative.
Started: tom2468, 18 Jun 2024 19:18
Last post: tom2468, 18 Jun 2024 19:18
We're mine and it was hard to get
Fair comment. Not my best posts ever… but I know this is a hidden gem of share. Even more so now. Good luck.
Just keep posting about the IPR. Your extensive knowledge has been noted 😂😂
Many shares just re rate with no news. Check the risers with no RNS. It’s an investment- so invest, not guess the re rate day.
“ Why buy now it’s going down without news”
This sums up so much of AIM at present. It’s a reasonable question. None of us knows when the news will hit. But we’ve seen how rapidly this share spikes. I’d rather add close to bottom, and accept a small further drop, than risk being locked out. But everyone has their own view on this. GLA.
How many shares would you like to have?
Why buy now it’s going down without news
Started: StrictlyZinc, 12 Jun 2024 17:14
Last post: StrictlyZinc, 16 Jun 2024 22:30
I think the chances are better than that AND even if ultimately a failure there are plenty of price surges along the way to make decent money. Look at the stratospheric heights that those that fail reach beforehand
No HE1 isn't the answer, a pre-revenue explorer/miner on aim is as high risk as they come - just like all the other failures before it chances of a long term happy ending are effectively zero.
Take a look at HE1
I had Tintra, it’s been wound up. Very very painful.
Is it only me that is beyond despair with their portfolios.
I’ve backed about 20 losers in a row and each time I close out a losing position I deposit the funds into another purchase which quickly turns red and keeps going down. I am paranoid that it’s just me. If I now buy FAANG at their super overblown prices I will buy at the top but I’ve been thinking that for two years and it’s cost me dear. Today I’ve lost a packet on LGEN and PYPL. I also hold FARN (ouch) and HVO (going nowhere since January) and to top it all I’m shedding lots more here. I really think building society accounts are all I’m ever meant to invest in. Rant over!
Started: CTSFO, 12 Jun 2024 19:30
Last post: CTSFO, 13 Jun 2024 12:19
IntraVnous posted this:
“ Just to follow up my last post, Bill Brown has a tendency to provide a shopping bag full of updates in one RNS. So, likely as not, the next update will be like the last one, a bit about each division with the odd tidbit thrown in to each.”
It’s possible we’ll get an update on the number of cycles the in-house valve AWT has performed. We’re bound to be >400 million cycles. If the valve characteristics - to me especially the energy efficiency - stay the same, the industry is looking at a potential game changer. IMHO.
Good Morning D. Let’s just say the hands on delivery of healthcare. Hope everything went well with the physiotherapist.
Thanks for posting that CTSFO. I had to remind myself that hertz is per second.
You’ve hinted at your work being to do with the circulation of blood in the human body. Maybe I’m being nosey but could you say more, only because I’m interested.
Atb, D
Evening. I emailed one of the manufacturers of Accelerated Wear Testing systems for Artificial Heart Valves today. I wanted a rough guide on how long it takes to in vitro assess a new heart valve. Some very rough figures. Using their system, I think the most commonly used in the industry, the cycle rate for testing is between 10Hz and 40Hz. It depends on the valve.
So 200 million cycles at 10Hz will take 231 days, 200 million cycles at 40Hz will take 57 days. They might want 400 cycle data, if not longer. At least this gives us a time frame within which to expect some results.
Started: CTSFO, 11 Jun 2024 11:48
Last post: IntraVnus, 13 Jun 2024 12:19
Correct NickE, the 10.68p for 50k was a purchase (mine). There’s still 50k available at 10.7 should anyone want it.
To me, this share is so ignored and unwanted, it’s a bit silly. Obviously, there is baggage left over from the fund raise last year that was announced a few days after that big spike when they gave the impression they were not going to raise. I was not impressed with the way that was done. It “wasn’t cricket” but investing is played with a hard ball and it doesn’t pay to hold grudges and get emotional.
Look at the situation now in the cold light of day. Is it a good bet now? The main risk to short term price is that they say the material under MTA is not being taken further by the major. But, as said by others, the basic CM and royalty businesses are still producing and they’ve definitely put the lid on R&D spending for now (eg, Vascular mothballed until a partner can be found).
Let’s hope for some positive noises.
Completely agree Jimzi, cash and two profitable strands to the business make it compelling risk reward with the two blue sky elements thrown in for free. Structural heart looks the most likely to bring a substantive re-rating but the contract manufacturing side also has the capacity (no pun intended!) to achieve that. Judging by a move up in level 2 by one MM it looks like the trades today are buys.
From DEST post
One after the other biotech (AVCT, GDR, FAR and others) and others are going for placings.
Here, no placing for years ( the pain has already been endured) no warrants , 60m shares and an EV of around £3.5m - and you can still buy below last placing with updates soon.
Adds up to lower risk with high reward. Or at least, not a heart attack share, likely to be profitable H2 without the big one
Just could do with some news to get out of this range between 10-13p
Providing its a 1:1 transfer into the ISA, that’s a good thing. It means you’ve got more shares for your £20k limit?
Last post: GreenEyes1, 10 Jun 2024 10:51
I'll bow down to your technical knowledge on that Jimzi, I may be confusing terminology, I was referencing the number of sellers who I believe would exit on a small gain very quickly given the number of shares held that would double in value at 22p. There's been a couple of weighty sells this morning.
Good Morning all. GreenEyes, I’ll find the time. Thanks for the advice, appreciate it.
The over hang is not huge or exist. RSP for 200k is 13.5p - has been for weeks.
As there is little action, it is being controlled by around 500k shares traded in and out. [which has a magnified effect given the low share no. [as can be seen with the 200k quote.]
IntraVnus - I agree. I have a theory that RUA are withholding notifying about final results in anticipation of including some good news (which they must be expecting if I am right). And if it is a 'blow the doors off' RNS as CTSFO (and the rest of us) hopes we might need to take our socks off to count the multiplications of the SP - except that as you point out the overhang is huge and many of them would probably take a doubling of the SP without a second thought.
CTSFO - if you find the time it is worth going back to 2019 /18 and following the story through RUA updates, the first error came when due to Covid the additional cleaning in the lab actually contaminated a crucial test they carried out (grafts) and delayed proceeding by about six months. Ever since then we have been waiting for that transformational RNS but things went from bad to worse, a lot of the spoils of the tech (if it ever gets to market) is now going have to be shared to get the various products over the line.
Ultimately I believe the reward (which comes with equal risk) will be huge which is why I keep a position here.
Quality posts IV. Very useful to know about the 11p placing, though I should have done more DYOR and already picked up on this! Every day’s a school day. It will get very very interesting with a ‘blow the doors off’ RNS. A muted response to a generally okay RNS is also more understandable. Roll on completion of the HV trial.
Started: GreenEyes1, 6 Jun 2024 15:46
Last post: GreenEyes1, 6 Jun 2024 15:46
Tomorrow marks the latest RUA notify the markets of final year results in recent years.
So I'm going to put a positive spin on and say they are waiting for something cheerful to report with it (as they seem to like to do) and that they would only hold off if they were expecting something to report.
Of course that could be fantasy rather than reality but I'm an optimist!
Started: StrictlyZinc, 4 Jun 2024 09:44
Last post: moneybags1, 4 Jun 2024 10:11
Last years Trading Update was Fri June 07 ... so hopefully we will get something this week ... just a snippet of encouraging news could propel us to the next level
Nice consistent buying this morning. We could do with a tad more volume to push through the resistance once and for all. We could then start to test the 15/16p mark.
Can Rua break the 11-13.50 range this time?
Tide swelling again!
Started: Tiger16, 3 Jun 2024 14:28
Last post: NickE, 3 Jun 2024 22:50
Yes, it's an interesting one CTSFO. I sent a query over the weekend to RUA asking if they could explain the anomaly of why they are developing a heart valve given their official line is that they are focusing solely on the material and allowing potential licensees or buyers to develop their own valve.
I assume it is just for assisting with internal and external testing, but it's an interesting development.
Evening NickE, is this a possible scenario?:
The initial 400 million cycle test was possibly done on ‘simple’ Elast Eon samples. This produced a dataset that gets put into CAD/CAM plus genuine ability from the young engineer. A proof of concept HV is then designed, redesigned, built, redesigned, rebuilt… you get the picture, till they’re happy with what they have. This is a proof of concept device that interests the majors - enough for them to at least take Elast Eon seriously - if not the entire valve. This work gets the young engineer of the year award. They’re not lying / misleading with the comment re commercialising this.
What we don’t know is if the majors are simply testing Elast Eon (as stated), or if they are potentially interested in the HV RUA have developed as well?
Spent an hour looking for the RUA patent. I found the application number, but couldn’t find the details of the application. D’Oh!! It would be interesting to see if it’s just the polymer or polymer and manufacturing processes to make it HV compatible which is being patented.
“And if the major likes it who knows what the benefit to RUA will be, a small licensing contract or an IP purchase“
And there are also other global players , there was no mention of exclusivity, probably as premature. But if that word does or doesn’t pops up in the event of things going well, it’s a kicker
As IntrVnus has correctly stated RUA are not attempting to create a commercial valve but have opted to license the material or do an outright sale. I just wonder where the recent news story regarding RUA developing a prototype heart valve (with the engineer winning an award) fits in. I can only assume it's because they need a valve for testing and are not developing it for commercialisation, quite curious though.
"Our 2024 Young Engineer of the Year Award (YEYA24) in partnership with The Incorporation of Hammermen of Glasgow was presented to Ross McPhillie of RUA Life Sciences for his role in developing a prosthetic heart valve prototype that is transitioning to commercialisation.22 May 2024"
https://www.scottishengineering.org.uk/meet-our-2024-annual-awards-winners/#:~:text=Our%202024%20Young%20Engineer%20of,that%20is%20transitioning%20to%20commercialisation
Of course every holder wants to see an rns that propels the shares to 50p plus over night but RUA is an unusual investment in that it has the blue sky upside of an oil play or exciting biotech going through clinical trials. However, it doesn't have the downsides because it has several years cash and two profitable segments.
So, whilst I await MTA progress from the heart valve company and any potential funder for vascular I do so with the knowledge that RUA is undervalued at current levels and it could even get to a much higher value of 40p to 50p on the profitable segments alone over time if they double contract manufacturing revenues as per their specified objective.
I see they have applied for a patent for the material in Structural Heart and they have specified it will go in that division rather than Rua Biomaterials. I assume that is because it makes licensing agreements easier and there is a chance the MTA heart valve company may want to purchase Rua Structural Heart as a distinct entity rather than the whole company.
Started: wadogara, 31 May 2024 10:13
Last post: StrictlyZinc, 31 May 2024 10:15
This is quite binary. Good news and it won’t be just 20p
May as well 😄
Started: FeverClucker, 31 May 2024 10:03
Last post: Bigsid69, 31 May 2024 10:07
A 'sea of blue' as they say :)
Sustained buying going on ….
Started: Dontbegreeedy, 29 May 2024 17:53
Last post: NickE, 30 May 2024 17:40
Yes, aside from an opportunity to add, the daily ranges are fairly irrelevant for holders awaiting a significant re-rating that could come instantly with news on the MTA or more gradually as the contract manufacturing side and particularly the contract with the gobal company increases revenues.
I see the Cavendish morning note in April following RUA's year end results this year observed there had been a significant smaller reduction in cash to £4m cash rather than their previously estimated £3.3m.
"RUA LIFE SCIENCES (RUA): CORP Strong strategic progress RUA Life Sciences has provided a business update for the year to March 2024, noting revenue shortfalls experienced in H1/24 have been made up by a strong second half. Revenues for the year are therefore expected to be in-line with our forecast £2.2m, while the company notes gross margin will exceed our forecasts, with operating costs remaining tightly controlled. RUA Life Sciences closed FY24 with cash of c£4.0m versus our £3.3m estimate. The company reports significant progress towards its goal of near-term profitability through growing its contract manufacturing business, noting strong progress with a ‘global enterprise’. Finally, RUA has completed a Material Transfer Agreement with a global Heart Valve company covering its composite heart valve material. We believe this update demonstrates excellent progress against the company’s revised strategy."
Small volumes and today 2/3 of the volume was from three large purchases (116k, 57k and 50k). Daily marks up or down by MM's should be ignored. They have a duty to balance their books daily, we holders don't.
That said, think the delayed at 11.6 was a buy- maybe an investor 😉
The usual, boredom. Until investors outnumber traders, expect days like today, exaggerated here by the minuscule float.
What’s causing this drop then ffs
Started: Blackgold25876, 28 May 2024 14:06
Last post: dryland, 30 May 2024 07:14
How much have you got popeye?
Dryland - How much do you want for your bridge?
The reply is as it should be. Emailing companies looking for information that hasn't been announced to the market is futile. They are hardly going to tip you a wink, are they? It's a pointless exercise IMO and if anyone sells on the back of this I've got a bridge I want to sell you.
Thanks for sharing reply, Blackgold25876.
BW
"The next SCHEDULED announcemnet will be"
..so UNSCHEDULED news can still drop any day.
Chill
Started: StrictlyZinc, 29 May 2024 16:35
Last post: Blackgold25876, 29 May 2024 17:04
Exactly CTFSO
Its on twitter Tiger
She responded because she has to. A shareholder making contact with a company must be acknowledged and replied to. Her answer is polite and absolutely correct. Nothing has changed since the RNS. That’s laid out their plans, nothing to add. In other words, everything is going exactly to plan, don’t worry!
Listen Tiger........ I will post it on twitter as i cannot attach a snap shot here.Look under the ticker RUA and my twitter handle Blackgold. It will be on in 2 mins. Dont call me a liar.
Well firstly the reason I aksed the question was because it is a trick question ... why , June is not going to reveal any developments to anyone as it has to Be RNS ed ... as it is market sensitive , which is illegal , aslo I am not even sure she did respond to you .. as if she did , it would of been very basic and not negertive
So by posting a response from RUA that in effect says if there was something to be RNSd it would be RNSd the market makers make hay and strike another 10% off the price. What a fiasco.
Last post: IntraVnus, 28 May 2024 11:24
The patents in RUA are held by RUA Biomaterials Ltd so are separate from the trading business of RUA Medical Devices Ltd which runs contract manufacturing. They are also separate from both the development companies, RUA Vascular and RUA Structural Heart Ltd. Each division sub-licenses the IP from RUA Biomaterials Ltd, whose own royalties and fees are currently earned from its legacy deals with the likes of Abbott Labs (for pacing leads), etc. It is widely acknowledged internally that those old deals were negotiated from positions of weakness many years ago when the old Aortech was nearly broke!
Interesting to see how Bill Brown valued the two profitable businesses in his Chairman's piece in the Annual Report.
He said for Contract manufacturing "revenue multiples of 7 are paid in the sector" with revenues of £1,625K that gives a value for this strand of Rua's business of £11.375m and of course the target is to double revenues ultimately giving a value of over £22m.
For Rua Biomaterials based on £554k revenues and a 89% margin (after patent costs) he wrote: "Rua considers the cash flows from the business segment as a 'growing perpetuity' which at a discount rate of 12% and growth rate of 5% would value this business segment at around £7m."
Using Bill Brown's (an accountant) figures, the business valuation is supported by the two profitable segments at over £18 million. This valuation could increase by an additional £11 million if the contract manufacturing segment achieves its objective of doubling revenues. This equates to an approximate share value of 28p currently, and about 48p if contract manufacturing revenues are doubled.
These figures are presumably based on prices paid for takeovers in the sector, suggesting they are quite solid. This implies that the blue sky elements, plus cash, are effectively included for free.
I don't believe Rua could separate the profitable businesses in the event of takeover interest for the Vascular and Structural Heart segments, as the patents are likely held within the contract manufacturing segment. However, the value of these two profitable businesses would need to be factored into any valuation even if the acquirer was targeting the blue sky elements.
Started: IntraVnus, 28 May 2024 08:51
Last post: IntraVnus, 28 May 2024 08:51
The Scottish Engineering Awards 2024 took place last week:
https://www.scottishconstructionnow.com/articles/scottish-engineering-recognises-home-grown-talent-at-glasgow-awards-dinner
https://www.heraldscotland.com/news/24342122.scottish-engineering-awards-winners-2024-revealed/
“Our 2024 Young Engineer of the Year Award (YEYA24) in partnership with The Incorporation of Hammermen of Glasgow was presented to Ross McPhillie of RUA Life Sciences for his role in developing a prosthetic heart valve prototype that is transitioning to commercialisation.
Bruce Wood, Deacon of The Incorporation of Hammermen of Glasgow, added: “Once again the standard of young engineers entering the competition has been inspiring, with outstanding presentations revealing the depth of engineering talent that Scotland can be proud of. Choosing a winner amongst such high standards is always difficult, but in Ross McPhillie of RUA Life Sciences, we have a worthy winner.
“Ross aimed to innovate heart valve technology by developing a prototype which successfully lasted 200 million cycles in durability tests and is now transitioning to commercialisation. Alongside Ross, all our finalists, should be proud of their outstanding achievements and they are a true inspiration to Scottish engineers, young and not so young.”
Started: StrictlyZinc, 24 May 2024 15:51
Last post: CTSFO, 26 May 2024 13:40
Good Afternoon NickE. I didn’t know this : “ It could be one of about five majors but my best bet is still Edwards Lifesciences . That's mainly because Rua non-exec, John Ely, previously led a research and development team there. There again, all the majors would be aware of Elast-Eon. Acquiring Rua for say £50m to £60m (which fits with the research note valuation) by either company would just be petty cash.” Edwards would make a very sensible first partner to trial the product. It’s going to get very interesting. I wish everyone the best of luck.
You could well be on the mark CTSFO regarding Metronic. A mere $100b m/cap. I'd call it sound reasoning rather than ramping!
It could be one of about five majors but my best bet is still Edwards Lifesciences . That's mainly because Rua non-exec, John Ely, previously led a research and development team there. There again, all the majors would be aware of Elast-Eon. Acquiring Rua for say £50m to £60m (which fits with the research note valuation) by either company would just be petty cash.
Rua applied for patent protection sometime before Dec 2023 for the heart valve leaflet material as announced in the MTA update Dec last year so I wonder if the 'partner' (as RUA reference them) would wait for patent grant before making a commercial move - licensing or even a takeover. All the majors will have massive legal teams so would probably do their own internal due diligence on Rua's IP rather than wait for formal grant but it's a possibility.
At 8m m/cap with two profitable businesses (including one that is awaiting a potential significant contract), debt free with several years cash, a steady move towards breakeven/profitability and two blue sky strands under their wing I would love to know of a better risk/reward play on AIM.
I can see where you are coming from as just writing that feels a bit 'rampy' but, as far as I can see, it's an accurate summary of the state of play.
TO. can not say as a rump here. Rns is very obvious 36m share have been issued to institutions.
Very lazy regularisation regarding to tr1 on AIM.
Hard to belive those shares have gone to existing share holders or al new ones stayed under 3%.
Well, at some point it will be revealed.
All IMO.
Not ramping at all. Plenty of good potential benefits always good to discuss. Enjoy the sun today!
Afternoon NickE. Edwards would be a good fit tbh. But if it’s Medtronic, there might be a broader interest being shown. Medtronic took over Covidien in the past. They got the implant material Permacol as part of this deal. It’s an amazing product. The I wonder if Medtronic might want to broaden their implant material product range? Excuse the blatant ramping!
https://www.medtronic.com/covidien/en-gb/products/hernia-repair/permacol-surgical-implant.html
Started: strikeforce, 26 May 2024 12:11
Last post: strikeforce, 26 May 2024 12:11