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79million barrels of oil x 18.75% is over £9billion revenues. This refers to just one of the 2 licences already awarded. One more licence expected.

Game on.

I think if we'll probably get some kind of update tomorrow. The last time they set a schedule the news on licensing came on the last date within that schedule as I recall. The timing of the third licence is out of their control but the PING deal should come in. If it's late we may get another drop in the price. If we do I've managed to free up some cash for a top up. The PING deal should give us a very strong lift.

If we cast our minds back to the licences update they were actually published a couple of days before the RNS. If they know the third licence is coming they may want to hold off making an announcement until they've taken the implications of that on board to include in the RNS as well. RNS tomorrow or we're just days away. Doesn't make too much difference.

It's not 'the market' which has caused the drop. Volume has been crap so market makers keep dropping the price. It means they can buy a load cheap when the RNS is registered and sell them at a much bigger profit when it lands. Depressing but true. We won't be getting in at these prices if we wait for the RNS to land first. It'll open 2 or more pence higher and it will keep moving very fast imho. Think they'll let us buy from 12p upwards if we're lucky.

Raises more questions than it answers that's for sure. The design of the trials is still unfinished. The test doesn't appear to be finished from my reading of the RNS. Accreditation will be expensive and time consuming. This won't be ready for accreditation for some time. Next milestones look like they will reflect continued test development not the start of trials. I think they've been disingenuous. I'm out. GLA.

Broomtree, are you actually in or what? Sell if you're too anxious surely? You're just repeating yourself. Why?

Very plausible theory SB. Whether it's them who've bid or not I think it's very likely they will be in the mix once the timetable starts. Which I am guessing, will be after the test is confirmed by the US health insurance authorities. That's a near certainty since the US government and the Veteran's Association have already agreed contracts. The mood music during the consultation also sounded very positive. I will get some more of this stock for my ISA in the new tax year if I'm not too late. Otherwise happy enough.

Yes, AstraZeneca have been campaigning on this for years. They're partnered with Renalytix on their test and AstraZeneca's ckd treatment. They see this early intervention approach as the way to eliminate acute kidney disease which invariably leads to dialysis unless someone can get a transplant. Thermo Fisher and AstraZeneca dominate the treatment used for chronic kidney disease. I think one of them are likely to be the bidder atm. I guess that's why all the iis are piling in.

Stifle and Investec are brokers. They buy and sell our shares when we ask them to buy and sell. Their trades are irrelevant.

It won't be suspended until the bidding process ends. It will take 3 months from the time the company announces offers. Bids can keep coming in throughout the process.

The consultation process ends on Friday. We'll get their recommendations after that. That's why all these iis have bought in substantially. We might get a bit of a bidding scrum from big pharma. The main suppliers for chronic kidney disease drugs at the moment are AstraZeneca and Thermo Fischer. Not to say that others might not want to take this test. It's worth billions potentially in it's own right. 10 million Americans have diabetes 2. Around 89 million people worldwide also have it. At $950.00 a test it's a valuable product. I think it will go for £2.00.

*agree to disagree. Damn spellchecker!

They'll get sales when they get nationwide US insurance coverage. I've been in shares before that spike to over £1.5 because they have a breakthrough test but then plummets because they aren't in the system and therefore they don't get sales. This is very obvious. When I have sold and pointed this out I have been much criticised 😄

This is going to be as embedded in the commissioning environment as it can be, once the insurance industry confirms the results of the consultation. Next couple of months is my guess. You can't sell if you haven't been properly signed off. But yeah, demand is massive. We can agree to disease then hey.

Jatw, have you done any reading at all on this stock? It got FDA approval last June.

My expectation is £2.00 for a buy out before the end of the year. They have £12 million now. The test will be worth billions over 5 years. If either AstraZeneca or Thermo Fischer take it they will extend sales of their drug treatments- already making TF $5billion a year. The insurance industry has a vested interest in getting these tests widely adopted by the at risk group. 10 million US citizens with diabetes 2 or chronic kidney disease at early stage. The earlier people are diagnosed the easier it is to prevent acute kidney disease. Acute kidney disease is a killer. Dialysis and kidney replacement costs $35 billion.

Everyone wins if this test is widely adopted. The US tax payer, the US medical insurance industry, the pharma companies and those millions of at risk patients get a life saver. The US economy wins too. People can stay in productive work for longer. Win, win, win,win and finally win. I suppose us pis finally also win.

I did say in an earlier post with this title that we could see something to coincide with international kidney day. This makes the US national insurance coverage even more nailed on. I'm sticking my neck out for a definite now.

It was due at the end of March. It's always close to the wire. That's 2 weeks away. For the sp to build up again nicely. Which it most certainly will.

If it's any comfort Harwood now have 12% of RENX and their average is much higher than this. Christopher Mills is a bit of a star trader in small caps. Had a few ten baggers hey? Who knows best? Christopher Mills, CEO at Harwood and on RENX's board or Tom, Dick and Harry shorters?

For nationwide health insurance coverage. Then a few weeks potentially for a decision. I think we'll find out who the bidder is as soon as we get the recommendation. Think that's a dead cert. The US government has bought in for all it's services personnel and the US veterans have set up their systems already to link Medicare to the RENX test for their members. The regulatory authority has described the test as necessary for those with diabetes 2 and part of the treatment plan for chronic kidney disease.

These shorters are just taking advantage of the time The Morning Star covered this well on 9th February. Easy enough to dyor these days hey. Holding.

Hebridian, are you in? Why are you here otherwise?

Looks very much like UKEF are in because the Times leaked that the deal has been agreed by government.

Reckon we'll find out soon. Can't wait to see the back of Riverfort.

The 3rd license is due this month so goodness knows why anyone would sell now. As soon as it's confirmed we'll go up 35% and keep going up until the whole deal is completed formally. Imho. Because I have seen it all before.

Mms do this all the time. It's Aim. Surprised they have any investors left. Certainly we're a diminished body. If you sell cheap, they'll take your shares and sell them for 3 times the price when the next license arrives and the due process with Ping and Shell is announced for all 3 licences.