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SPARE is the next gen test even better than Stemprinter. They believe that it can be used for a wide range of cancers and not just limited to breast cancer or oncology. That is a real gamechanger, however that is further along the line. Right now, they need to focus on commercialising Stemprinter. This is real ground floor opportunity at 10-15M mcap that Accustem is. Patience is needed because they guys love to work extra slow. IPO in my opinion will happen at $3-5 in that range due to nasdaq minimum bid list rule.
It all depends on whether or not Cerrone/Wendy can get investors in the IPO who are willingly to pay top money for the shares. The fundamental value is there. Major milestones include CE mark and FDA approval. The IP alone is certainly worth alot more than current valuation. The market for the prognostic test is around $350M, being 40% more accurate than the market leader we should expect to at least take 10% (conservatively) of the market share in the first year.
One thing to note is the small float of stock. I have seen many low float stocks on the Nasdaq rocket several 100% over the last few weeks based on no fundamentals. When volume comes in this could have a huge spike in my opinion
Anyone got any ideas what they could ipo at? They want to raise $10M. Low float stock and with 50% locked up by Cerrone it could rally when it uplists
https://twitter.com/BushveldMin_Ltd/status/1506953360246718478
So the mining experts at SP Angel give a target of 31p for BMN with a FeV price of $30/kg
Therefore,
FeV $60/kg - 62p
FeV $90/kg - 93p
FeV $120/kg - 124p
In 2018 BMN realised an average sale price of around $81/kg so if we use that calculation SPA target should be approx 78p
However 20% of the worlds supply in 2018 was not sanctioned and Evraz was not suspended. Add to that the emergence and further acceptance of VRFB's and the potential numbers could be enormous.
Current BMN ask 13.8p
Bargain?