CXL +4.21%: Announced today that they (along with Pilbara Minerals (PLS) had received a $20m Government grant under the Modern Manufacturing Initiative – in short, CXL will help to decarbonise the electrification pathway as Australia positions itself to ‘value-add’ in the production of key commodities. CXL is a very difficult stock to value which makes it heavily exposed to sentiment shifts – in early March shares were $6.12 before rising to $9.65, before settling back to a recent low $6.50. However, the tailwinds behind CXL are immense (decarbonization of industry and materials), their technology is proven, and it is targeting market applications across a very large number of multi-billion-dollar opportunities. So, we believe that CXL’s market capitalization will over time rise to levels significantly above current levels, and investors should look through the volatility that is so prevalent here.
MM remains long & bullish CXL in the Emerging Companies Portfolio
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