Member Info for PC01

Arden research out - still target £6. All reads very well - deeply undervalued and misunderstood asset etc...

I still think £4 would be stealing this company from under our noses ...would value the company at less than £100mm with resources prospective or otherwise of a min of 138mm barrels and potentially double that or more. Cost of getting out the ground still c $30/barrel and oil next year north of $50...

Abatt - this story has 3-5yrs to run and you worry about one announcement that might be 5-10 days late? Your nerves are going to be in tatters if you are holder to the bitter end!

VK - i don’t think we’re arguing about much! I do think this global pandemic is hurting investors (especially in the U.K. who also have Brexit and a pretty useless govt to contend with) and this is causing many to cash in their chips. I don’t think much has changed with the outlook and i’m pretty comfortable that the board has enough skin in the game to ensure they keep working to get the best solutions.
It is tiring watching a falling SP but unless you need the money to double today i’m optimistic that we should see the highs again over the next 12-24 months. My greatest concern however is a cheeky private equity bid of - say £4 - which might steal the real prize albeit provide a lovely return from these depressed levels.

A slight sense of proportion is needed :
This year BP and RDSB have lost 50%+ of their value
Hurricane Tullow PMO are trading at 90-95% discounts to previous highs.
JOG has traded 60p and £2 and sits roughly half way! This is a story that has been going for 2-3 years and has 4 years left to run! We are in the midst of a global pandemic. Something seriously wrong? I mean why do u think that?? Utter nonsense. Get a grip and either sell out or stay in with - as i said the other day - a lot of patience! The oil has been there for a few years and ain’t going anywhere!!

i’m not sure why you are bursting anyone’s bubble? I had slightly over half of those at 4.52p! Leaves me with c 6mm shares ...still not sure it matters a jot! I’m either right or wrong. Time will tell.

Again i truly don’t believe market makers have any more info than us about when news ‘may drop’. Their sole advantage is they should see all the flows and trade accordingly. And if they are the house broker or gave a v good sales team they will benefit as such. To repeat Market makers sole job is to move shares from A to B and take the turn. They are not fund managers / hedge funds etc who’s job is to be in a trade for longer than the 20 seconds a market maker will be in it!
Sorry rant over!

We have had this conversation before. Having worked in the city for over 30yrs, i can promise you that there is no chance in Hades that a market maker will take down £40k of stock in an illiquid company like CPX without having a buyer or the balanced view he won't have sold such a large line without having a seller. That's what market-makers do. So to guess which way a large trade goes is a complete waste of time. The stock has moved from A to B, whether it be in one large clump from A to B /C/D/E or from a selection of small sales from A/B?C/D/E to one large buyer. It matters truly not a jot.
By the way, completely in accordance with the ridiculous ramping that goes on here. Speculation that Tesla might pay hundreds of mm of $$ because of a patent dispute is not the investment here. As per previous posts, its the gravy.

Patience still required I'm afraid. JOG is a nightmare for those wanting an easy buck! We get invaded by all the day traders and spivs when news comes, but as is normal for aim, as soon as the newsflow dries up then they up sticks and leave and move onto the next big game in town. I'm actually quite impressed by the SP holding up in the face of no notable news flow from the company, given whats happened to other oil co's big or small. Still own way too many to sleep that well at night, but obviously not enough should the news reach us that the holy grail of a farm out has been achieved!

'Positive trading update on multiple fronts. As previously argued, the acquisition of the Murata manufacturing assets represents a transformational deal for CPX. It afforded a unique opportunity to transform its profitability by increasing sales and gross margin at the product level for a minimal capital outlay and enable CPX to fulfil the growing levels of sales enquiries. The deal provides access to established product designs, proven manufacturing assets and a potential customer base in CPX's target small form factor markets. The project is not without execution risk, however, and CPX has not been immune to the impact of CV-19 with the project slipping by c. three months. The successful prosecution of the Ioxus patent infringement case represents an important proof point in CPX's ongoing IP protection strategy. Finally, the growth in the sales order book and revenue in Q1 is encouraging as more companies look to supercapacitors to address the limitations of traditional batteries.'
No price target set but nice to read a positive research piece at last!

I bought quite a few this afternoon to add to my tally. First purchase since the ones I picked up sub 2p, but no bragging rights since I also paid above 10p for plenty and also took part in that placing at 8.5p. There's a lot of chatter about winning battles vs Tesla etc and huge payouts but as I was speaking with Kencarv via email earlier, that to me is all just gravy. The key here is a R&D company who can now manufacture and sell their own supercaps. Why take on the manufacturing? Because they need income to grow the business and this re-tooling of their own factory means that they have Murata's business but also can produce their own products that much more efficiently and cheaply. CPX should at long last now be able to grow organically, it should from 2021 start to produce a FCF and if they manage to A) get the Ioxus money and B) win vs Maxwell, then we can start talking special dividends etc. But for £20mm, this is a very cheap company and the ride from here should be a lot more comfortable.
Good weekend all.

Yes - Murata sold their biz because it made them only $14mm and for a multi billion company it was just noise. They look good with their clients because they gave introduction to CPX to continue servicing them and sent Murata engineers over with the equipment to teach CPX chaps how to use it. A v good trade for CPX.

I think you do! It'll be interesting to see the Allenby report, but given they were 'disappointed' last time I think they should be erring on the 'relatively optimistic' this time. As should we all.
Rudimentary maths : market cap £19mm
All being well, i think they 'should' make $15mm (£12mm) next year on a 60% profit margin, lets call it £5mm.
If they can recover the Ioxus money (£3mm), i think there would be good reason for an extraordinary dividend if the order book is as good as it seems.

....reads perfectly well but lacks any degree of clarity about funding and financing. Yes, deals have been signed but no mention whatsoever of quantum. Until the market can understand the cashflow outlook, I think it will continue to let doubt win over optimism. If anyone is virtually going to today's AGM, please can they ask what the cash situation will look like in 6-12 months and whether the board are confident that deals that are currently being struck will mean no need for further equity dilution.
Its a great company. Has some great and life changing products. Just needs a fairy godmother I feel.

I think that's pretty much what we've been hoping for / expecting...
Might get our Ioxus money but no guarantees
Patently (like my joke there?) optimistic to fight Maxwell
Build out done and dusted and at a cheaper price than previously expcted
Fully funded with tax rebate
Order book good but what I liked was 'trading' strong which implies we've actually converted a few orders into trades.
All in all a good read - just need JamesHinvest to get all excited (after his frustrations of the last few days at a lack of info!), Open to find his inner eeyore and Kencarv to tell us of good news incoming...oh and then PP1 to copy and paste this RNS ad nauseam over the next few weeks and months when the SP falters - as it always does!!
Good luck all - but for me this is the very first real stepping stone to a re-rating. Its been some time coming.

Well this is all a bit depressing isn't it? There is little doubt that with a market cap of just £28mm and roughly £10m in the bank, there is no good news being priced in whatsoever. Reneuron is symbolic of so many companies listed on AIM, a decent idea but subject to fast money pouring in and then drifting out as newsflow slows down and that money goes in search of the next story. The directors' options are massively out of the money (as are most of the companies investors!) and our recent new major holder from Germany have lost 50% already. My major concern remains Richard Griffiths, who bought a stake which either he or the company failed to reveal at the time and who, as I have witnessed from another investment on AIM, has proven himself not be the greatest long term investor. He single handedly managed to sell 10% of a company in which I was invested and dragged the SP down from north of £2 down to 70p and it feels very much like he's doing the same here. Which might over time leave the company extremely vulnerable to a lowball bid which would be tragic for those of us with our view of Reneuron's long term aspirations.

is the outlook for oil. I can see a real surge last $80/barrel as global growth picks up and there simply isn’t the output to fill demand. It’s amazing that oil demand ‘only’ fell 10% this year given the hit to global GDP.
Got those wanting a smile on their face think what oil at $80/barrel does for a company who gas a portfolio of over 130mm barrels of proven reserves and an expectation that cost of getting it out the ground is just $30/barrel. Unsurprisingly someone else did the maths and bought a chunk of shares at the close.

PP1 your copying n pasting needs improving...and whilst i agree with your sentiments i think the Murata production facility would cost closer to $50mm new not £100mm but let’s not let facts get in the way of a good story!

I think this is where we can agree to disagree T-man. As I wrote in an email to a fellow investor in CPX yday, this patent lawsuit malarkey is just gravy. They have to protect their IP and have been awarded a substantial win against Ioxus which they may or may not receive subject to whether the new owner can be found to have continued to have infringed the patent. The investment case here remains, for the rather less excitable, whether CPX has been able to buy, re-assemble and start to sell Murata engineered products to Murata's existing clients at a fraction of the costs it would have cost CPX had they chosen to go down this route. The Murata production facility would have cost c $50mm, so to pick it up for less than 2% of that was good business. Murata's orderbook was c $14mm with an operating margin of over 60%. The production facility comes with Murata engineers who have, as part of the agreement, been hired to retrain CPX's engineers. The production facility will also increase CPX's prodcutivity so that we can expect an improved margin on CPX's own production. Win, win and more win. So for a company with a market cap of £20mm at c-o-b yesterday, it should make £3-4m post tax in 2021. Which puts it on a p/e of - back of an envelope style - 5x.
To answer pepe-martinez, a new investor's question of last night, therefore I would say ignore all the IP chatter. If Tesla lose and we get a decent pay out that's brilliant news but should not be the basis for your investment. AK has repeatedly said the IP defense is key to CPX but he would much rather get tesla to sign up and pay the royalties like TDK and all the others who have lost the lawsuits before them. The real story is the long game.

You do bang on a bit Techie! How about we turn the question around - how many institutions are buying today?
And quite why you think Kongats or any of the staff of CPX would risk insider trading to favour an institution over ‘mug punters’ is another laughable thought! Let’s try another angle shall we?