I agree with those thoughts that mining and medical do not sit that well together, at least from a first glance. I also spent some time looking at who else is in this space and these guys are not alone but their mkt cap is below peers in the US/ UK.
They have a few things going on which could all, given time, really develop
Scan to Surgery - 90% integration of VSP software so far
Anticipated submission to FDA and TGA, so product can be rolled out to other than research facilities. Will also allow the flow through then to surgical models printed by Australian Additive Engineering (25% share) which should get going again now COVID restrictions in Melbourne lifted
Lyka Smith already purchased 50 licenses of integrated MEDVR and VSP software
Use of blockchain technology for MFTP to compress data 85%in DICOM
3Dicom mobile for visualisation by patients, on apple and android
Health Academy with virtual anatomy rolled out to 10 WA schools
Appointment of Key advisory board appointments - Dr Jonathan Clark AM and Dr Bradley Moore
Conclusion of spinal segmentation project with CSIRO.
Collaboration with CSIRO and Osteopore for AI based patient-specific cranial implant design tool
GeoVR with Flowcentric has progressed from feasibility study over the past few months, for which they got paid, to the formation of a 50/50 JV with Flowcentric. Sales will flow to the JV from any sales to Mining entities and royalties from IP should flow to SHG, and there is apparently a lot of interest. This space will no doubt have several players, but being WA based should certainly help push the mining angle in WA, and let's face it, WA is a mining jurisdiction.
There are several players in the space from my limited research to date, so this is still a higher risk spec play, but track record so far is pretty good, collaborating with the right organizations/people in a fast developing field.
I'm not betting the house, but building a modest position.
SHG Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
(20min delay)