RNO 0.00% 4.0¢ rhinomed limited

Ann: Rhinomed Lifting of Trading Halt, page-9

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  1. 929 Posts.
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    In fairness think the market response is about right atm.

    I think it's a great contract win and can't see why it won't get the final tick of approval in the coming weeks. Both RNO & BTNX have sounded pretty solid about the partnership in a couple of announcements & BTNX has been through the Canadian process before. But, it hasn't happened yet.

    • The original BTNX MOU was announced on 25th January (10 weeks ago)
    • The HY Report hinted at a 2 year year contract (7 weeks ago)
    • Last week's Supply agreement finally confirmed the minimum quantities

    So in some aspects the news with regards a Tier 1 partner is 10 weeks old.

    Since then things have unfolded like:
    • Ukraine & Russia
    • Talk of rising interest rates
    • A Federal election
    • A Cap raise was announced in conjunction with the Supply agreement
    • We're now in School Holidays/Easter break
    • We still need final regulatory approval
    • The BTNX contract doesn't start until July
    • The BTNX contract & revenue doesn't ramp up until October
    • Governments aren't talking as much about Covid & our health as they were before
    • Most long termers already have their fill & like Elite said can top up in due course
    • Other competitive technologies come along (i.e. see ResApp (RAP) & Pfizer proposed acquisition today).
    • Bell Potter & co don't get their shares until 19/4

    I have faith the BTNX deal will happen in full and that there are other decent contracts in the making.

    I think RNO will re-rate over time, but for now I'll sleep a bit better than I was this time last week.
 
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