Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The free cash flow forecasts for CAP-XX on page 29 proved interesting.
Estimates for FY2030 were 42.2m units sold by CAP-XX and licensees, 75.8m revenue, CAP-XX and licensee market share at 5.2%, EBITDA 26.9, free operating cash flow 25.8m
Yes, I was thinking the exact same. The report also comments on a buyout being a possibility.
“”The most significant of these are Panasonic and Skeleton Technologies."
I wonder if that is a subtle hint that CAP-XX are in discussion with them regards licensing. We know from previous RNS that CAP-XX are still talking to 'multiple' potential licensees.””
Well that was good bedtime reading.
VERY interesting and positive.
https://twitter.com/surprised_trade/status/1391794267786465283
Cenkos broker note out, one to watch tomorrow me thinks
Think we look underpriced here at 8p lol
“ and CAP-XX now formally competing in large capacitance products, that over time this market share could not just be regained but surpassed.”
That’s good news
Why don’t you copy and paste the whole note PP ?
research hyphen tree dot com is what's been starred out in my comment below.
https://*********************/companies/uk/electronic-products/cap-xx-limited/research/cenkos-securities/cenkos-cap-xx-ltd-super-cap-market-leader/39_2021051009412718718/8e769a8a-0a70-4ee6-8543-1c0f75461594
Worth subscribing to Research Tree to get full access to the Cenkos Securities research on CAP-XX
This is the important bit... 15p is on CURRENT DEALS to date, not future growth, any further deals and not a penny for a Maxwell/Tesla win and /or licence, 20p + is back on cards :)
one more snippet from an incredibly detailed report highlighting the huge upside potential many CPX investors percieve awaits (me included)...
''...present valuation continues to reflect investor fatigue, a lack of understanding of the transformational nature of the Murata translation and the higher burden of proof required for this means the current valuation presents an attractive opportunity for the company with highly valuable IP in the energy storage space.''
15p a share forecast , BUY recommendation :)
Our new broker has released a 41 page upbeat note, part copied below ...you will all, as did I, find the last paragraph of interest....
CAP-XX Ltd Super cap market leaderCAP-XX is a world leading developer and retailer of supercapacitors, an important electrical energy storage technology, that delivers high power densities not possible with batteries. The company, its technology and strong IP position are well proven with more than 62 million CAP-XX supercapacitors sold to-date by CAP-XX and its four licensees. As well as reaching EBITDA positive on an underlying basis for its H1/FY21, it has recently concluded a transformational deal which has seen it acquire the production assets and customer base of its largest licensee Murata for a fraction of the invested capital. We believe that with these Murata production lines in place at CAP-XX’s new facility, and the first Murata customers already purchasing from CAP-XX, the company is at a significant inflection point in terms of sales and profitability.
We believe CAP-XX is valued at a significant and unjustified discount to its energy storage and UK cleantech peers.
Following the successful award against Ioxus, CAP-XX has started a similar patent infringement action against Maxwell Technologies, which is now a wholly owned subsidiary of Tesla Inc, for the same IP. Initial discussions in front of the same Delaware Court with the same Judge, which heard the CAP-XX case against Ioxus, are scheduled during November 2020. As with previous cases, CAP-XX is simultaneously pursuing a negotiated commercial outcome (license) with Maxwell/Tesla
As the largest manufacturer of supercapacitors by revenues over many years, this IP infringement case has the potential to yield a result of damages far in excess of Ioxus, and with a healthily capitalised new parent company, there will be no question on its ability to pay any damages.
Maxwell Technologies is still, according to its website, offering a broad array of supercapacitor products to customers. However, as it is now part of Tesla, the expectation is for it to focus its resources into supplying systems and modules for Tesla vehicles. This opens up the opportunity for CAP-XX, which arguably has the next best IP portfolio in the sector, to make headway into core Maxwell markets, including suppling to Tesla’s competitors in the motive sector.
Cash
CAP-XX has no debt and following the receipt of a A$3.1m R&D grant in January 2021, we believe it has sufficient cash headroom to reach profitability on our expectations with some buffer should the conversion of Murata customers be slower than anticipated.
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