Member Info for Couerdelion

I think the problem goes back to the method of counting emissions. Net zero still means "as much carbon added as taken" from the atmosphere but it only works on a global basis - at which point the argument degrades into the "we're too insignificant" line. But Martin was absolutely spot on when he identified the problem being measuring by production rather than consumption because this creates a ludicrous situation if imported fuel is already net-zero for the UK. The incentives are all wrong and the government adopt policies that don't work. Taxing the consumption of carbon makes far more sense than the production as this is largely where the emissions come from (at least with O&G)

So it's the same additional carbon emissions for imported LNG but a smaller % increase accounting for the total emissions. Still higher, just not 4 times as high.

And finally the SP is trading back at the levels of the December fund raise which is a nice milestone to reach. Those shares I managed to buy at 37.8p in early June are now looking great value - though my overall holding is still underwater.

Technical stats appear to be flashing "overbought" here but I suspects such indicators are not particularly useful for AIM investment funds.

And now a little extra cash from the land sale - in cash terms worth c45p per share. Any votes for what they do with the cash?

Here's Simon Thompson's piece on CML from last week....

"It didn’t take long for semiconductor chip designer and manufacturer CML Microsystems (CML: 308p) to announce an improvement in sales visibility since reporting its annual results.

The Maldon, Essex-based group has entered a 12-year design and supply agreement worth more than $30mn (£22mn) with a leading manufacturer of industrial global navigation satellite system (GNSS) equipment. CML reported annual revenue of £22.9mn in its 2024-25 financial year, so it’s a material award. It’s also a strong endorsement of CML’s capability (advanced radio frequency (RF) design expertise, robust product lifecycle support and supply chain reliability) to deliver cutting-edge, application-specific semiconductors tailored to the demanding requirements of the GNSS sector. It also strengthens CML’s position as a key enabler of high-precision global satellite technology applications and reinforces the group’s strategic focus on enabling next-generation positioning technologies.

CML has been actively involved in advancing GNSS and satellite communication technologies. Analysts at Shore Capital point out that CML’s modem supports real-time kinematic correction data transmission – a high-precision satellite navigation technique used to improve the accuracy of standard GNSS systems – over UHF radio links using the RTCM SC135 standard. This is essential for applications in sectors such as precision agriculture and marine, and autonomous vehicles and drones, where long-range, low-latency and centimetre-level-accuracy GNSS correction links are essential.

In addition, CML continues to expand into high-frequency satellite communications with its Synchrotron Ultraviolet Radiation Facility line of RF and millimetre wave components, including Ka-band Gallium nitride power amplifiers. These are aimed at satcom terminals and infrastructure operating up to 100 GHz. Structural tailwinds in 5G, satellite communications and industrial IoT further support an improving outlook, as does a record pipeline and the group’s largest-ever product suite.

Although there are currently no earnings forecasts in the market, CML is valued on 7.5 times last year’s depressed cash profit to enterprise valuation, a modest earnings multiple. Moreover, the group is selling off surplus commercial property and land, which will boost net cash of £9.9mn (62p). A 3.6 per cent dividend yield is covered by a 5 per cent free cash flow, too.

For good measure, CML’s share price completed a multi-month base formation with today’s chart breakout (10 July) of the key 297p resistance level, so looks primed to make headway. Buy."

Care to share the story?

Collectively we are trading over 0.1% of the volume here. I suspect we are talking in excess of 1%.

Markets are not perfect and even less so in the case of thinly traded small-caps. But if the earnings potential is there, the share will rerate in time - the only requirement for us is that we are invested before it does. On the bright side, at these prices the share has more upside potential.

The last time I saw a drop like this, I bought some of the shares on the following Monday and sold them by the end of the following week (too early) for over 7% return.

Full disclosure, I am looking at doing similar - at least the buying bit.

The Standard Life brand is used by Phoenix to market their range of pension products. Changing the "front-end" label would only be a cosmetic exercises but probably not cheap either.

I don't think you're missing anything and the market will turn at some point. I decided to top up again today in the hope that it won't be far off.

That's a sizeable contract. Now let's see how sustained an SP rise it gets.

I sort of agree. I don't expect a sustained bounce tomorrow - if anything more of a continued drift downward - but it seems odd to claim this as profit taking when the shares were over £19 very recently. They will return to that level at some point but it might not be soon and I won't be rushing to make a second top-up. Since I'm out most of tomorrow, I may put in a cheeky limit order at c1575p

I'm going to put it down to profit taking although I was probably more surprised by the initial surge which made the subsequent decline that much greater. In time the market will digest the news and the contents of the presentation and will accept that the SP should be higher. Despite my own bit of profit taking, I remain overweight here and will wait for 375ish before I revert to a more neutral balance. I don't want to second guess the market but they ought to be looking at this as a 400p+ stock except I doubt the market will take my word for it.

Let's first change managment; to management.

There have been a few modest trades today to take the price back over 30p again. Have we been featured somewhere and attracted a little interest from new investors?

Don't forget to join the Investor Meet later today at 2pm

I was quite happy to add a little this morning at c1710p, if only to bring me back to a neutral weighting. Will add back more on further dips but I don't really expect I will get the chance.

Probably best to compare this to the travel operators rather than the pure airlines as the margins here are not as thin.

I've been holding out for 330p for months so finally a chance to close out an overweight position which I bought back in March. A 19% return for 4 month is pretty nice going.

Well if this does get to 320p, I'll be looking to throw a few £ this way. Sitting on a healthy pile of cash recently so would be good to find a place to put it with decent short to medium term prospects. The IT outage should now be fully baked in and arguably looks overcooked - that is if you think the price would be 400p in its absence.

I've only really skim-read the RNS but I picked out a couple of things. Buyback being introduce following HY1 results and dividend increase target up from 10% to 13%. The rest looks reasonable but without prior year comparatives I'm probably just guessing.