# CXL - Calix Limited



## System (5 July 2018)

Calix has developed a patent-protected, platform technology that produces new materials and processes, targeted at solving some significant global challenges. The core technology platform is a reinvention of the kiln process, which can produce high purity, high surface area products that have high levels of reactivity.

Calix commercialises these new materials and processes via a variety of business models including direct sales of products, licensed distributor sales, and licensing of the technology. Calix is building a global business and has operations, customers or distribution partners across Australia, New Zealand, Asia, Europe and product trials starting in the United States of America.

It is anticipated that CXL will list on the ASX during July 2018.

https://www.calix.com.au


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## So_Cynical (27 July 2018)

Floated at 53c last week and now pushing through 95c a spectacular opening and an interesting business, an alternative tech play.


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## So_Cynical (4 October 2018)

IOOF becoming a substantial hold ann out yesterday, they have been busy buying and selling.


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## So_Cynical (29 October 2018)

SP has been bean up a little recently, same as many stocks this month, the good news flow is reasonably consistent with Calix and a bounce would not surprise, the recent European grant ann was good.


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## So_Cynical (1 December 2018)

Been support at the 80c level over the last 5 weeks or so, so many avenues for Calix to get extra sales and revenue, The web site is very active with news and developments, kept well updated.

https://www.calix.com.au/issue_28.html


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## mcgrath111 (13 December 2018)

So_Cynical said:


> Been support at the 80c level over the last 5 weeks or so, so many avenues for Calix to get extra sales and revenue, The web site is very active with news and developments, kept well updated.
> 
> https://www.calix.com.au/issue_28.html



@So_Cynical you appear to be following this stock some what closely. I like what the company offers and the potential it has, particularly as to its marketing toward Europe. My concern is long term debt appears quite high, especially given the possibility of a rise in interest rates. Do you think debt is a major factor playing in the downward trend? 
Cheers,


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## mcgrath111 (13 December 2018)

Any one know why the prospectus FY17 numbers are different to the FY17 annual report figures? - Particularly looking at core revenue, numbers are off by more than a rounding error.


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## So_Cynical (13 August 2019)

Intra day high of $1 so far and could set a new closing all time high, the last few announcements have been positive with the Battery 
grant funding in Aust and the CO₂ capture/cement project in Europe, the tech revolution isn't all software, CXL flying under the radar.
~


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## So_Cynical (30 August 2019)

2 weeks ago Calix traded at over $1 and now under 74c post FY accounts release, core product sales have fallen and thats not 
good however the SOCRATES project https://socratces.eu/ the BATMn reactor and LEILAC are positives with great potential.


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## Dona Ferentes (18 December 2019)

Calix-led Consortium to be awarded €16m (A$26.5m) in funding for the commercial scale-up of its CO2 capture technology, as the EU declares *a “climate emergency”. *The pilot plant should be ready for operation during 2019 and will be test run for up to 2 years to demonstrate the technology*.
*
_The grant will fund the construction of a 100,000 tonne per annum input capacity processing plant that aims to demonstrate, at commercial scale, the ability to radically reduce CO2 emissions from the lime and cement industries – large global emitters of carbon dioxide._

_and _AustralianSuper has taken a 5% holding (08 Dec)


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## Dona Ferentes (8 January 2020)

Joining Calix and HeidelbergCement in the LEILAC 2 consortium are industry partners Cimpor-Industria De Cementos, SA., Lhoist, Port of Rotterdam and IKN GmbH, as well as research partners including the Centre for Research and Technology Hellas, the Federal Institute for Geosciences and Natural Resources, Polytechnic University of Milan, ENGIE Laborelec and the Royal Belgian Institute of Natural Sciences.

LEILAC 2 project objectives include:
• Construction of a 100,000 TPA demonstration plant that will aim to capture around 20% of a full-scale cement plant’s process CO2 emissions, equivalent to 100% of a large lime kiln’s process emissions, for minimal energy penalty other than compressing the CO2.
• Successful demonstration of up to a four-times scale-up of the technology for around twice the capital cost of the LEILAC 1 facility, confirming cost-efficient CO2 capture for the lime and cement industries.
• Prove the effective retrofit and full integration of the technology into a cement plant’s operations.
Demonstrate the efficiency and stability of the complete cement-kiln process and high-quality clinker output when integrating Calix’s CO2 separation technology.
• Showcase a modular, replicable, retrofit design for accelerated commercial deployment that delivers flexible scalability for varying operation size and configurations, agility to adopt the technology and decrease emissions progressively, and a broad range of options for captured CO2 utilisation and sequestration. These factors can eliminate the need for large capital expenditure and significant asset write-downs.
• Demonstrate the operation of direct separation kilns for lime and cement using renewable sources of energy such biomass and renewable sources of electricity, bringing the running of the plant to net zero CO2 emissions and enabling a move away from high-carbon emitting gas or coal-fired plants.
• Enable lime and cement kiln processing plants with a cost-efficient solution to effectively use intermittent renewable energy sources, with rapid ramp up/down rates leveraging electricity and load balancing techniques for grid stability.

LEILAC (Low Emissions Intensity Lime And Cement) technology is based upon Calix’s patented direct separation “calcination”.


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## Dona Ferentes (22 January 2020)

Been some buying into Calix, off the lows around 75c and hitting high 80's today


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## Dona Ferentes (26 February 2020)

A few nervous Nellies sold but soon disappeared, when Calix announced.

Managing to grow revenue. A long slog though, to be a player


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## Dona Ferentes (27 March 2020)

> This [Co2 reduction] is clearly a mid and long-term issue which is absolutely relevant for us as a company, but also for us as an industry”



_Dominik von Achten, CEO, HeidelbergCement AG [global building materials company]_
.
.
I hope CXL can be a beneficiary. For an 'early days, gotta keep an eye on cash' company, it has weathered the recent conniptions fairly well. Some large licks going through if put up for sale, I noticed.


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## Dona Ferentes (21 May 2020)

*Scientists find way to make mineral which can remove CO2 from atmosphere*
(2018 - talking about Magnesium)
https://phys.org/news/2018-08-scientists-mineral-co2-atmosphere.html



> China’s share of global magnesium production has increased markedly over the last three decades, from 5% in 1993 to 80% in 2018. The increase was driven by a Chinese surge in construction, which led to huge increases in magnesium demand. This demand was met by intensive exploitation of China’s reserves of ore and other natural sources of magnesium, which are the second largest globally after Russia’s. China then began large-scale export, at prices that soon undercut almost all global competition....



- found on pp31-33 of "*Breaking the China Supply Chain: How the ‘Five Eyes’ can Decouple from Strategic Dependency":*
https://henryjacksonsociety.org/pub...-eyes-can-decouple-from-strategic-dependency/


> Since 2017, growing environmental pressure on Chinese production has led to a fall in global magnesium supplies. In parallel, the prices of magnesium ores show a gradual increase. This may benefit *Australia*, which has the world’s fifth-largest share of magnesium ores. It is likely to increase exports of magnesium precursors, and perhaps in due course to start selling magnesium made using low-carbon retrieval processes.




*Australia has potential to be leading supplier of magnesium precursors*


> Australia extracts approximately 500,000 tonnes of magnesite each year, or around 2 per cent of global output. More than 90 per cent of Australian magnesite output is produced by QMAG, which is owned by Sibelco. The company holds a deposit at Kunwarara in Queensland, and produces finegrained monocrystalline nodular magnesite. In Victoria, Calix produces magnesium hydroxide using magnesite raw materials mined in South Australia. Causmag also produces high-purity magnesium oxide powder using output mined at Thuddungra in NSW.



pp 33-36 .. *Outlook for selected critical minerals in Australia 2019 report*
https://www.industry.gov.au/data-an...ed-critical-minerals-in-australia-2019-report

now, Calix has its own Magnesium Carbonate source, a mine in South Australia (JORC proven and probable reserve 466kT + Indicated Resource 392kT - "one of the largest MgCO3 deposits in the world"). The (patented) Kiln isn't linked to Mg production as much as Magnesium Oxide (CO2 mitigation) and to Magnesium Hydroxide (water treatments / remediation)


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## Dona Ferentes (15 July 2020)

I have been noticing some steady buying for CXL; AustralianSuper have lifted from 5.08% to 6.08% over the last while.

now the notice is out, the Buy-Sell dynamic might change?

(_hold; added at 71c a few months ago_)


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## Dona Ferentes (27 August 2020)

The successful acquisition in December 2019 of US-based Inland Environmental Resources Inc. contributed significantly to growth ($9.7m), along with organic Sales Revenue growth of 34% to $4.4m compared to the prior year or previous corresponding period.

Significant progress in CO2 carbon capture for cement and lime:
o LEILAC-1 PILOT PLANT successfully commissioned mid-2019, and test runs since have proven the technology concept, and increasing operational robustness and throughputs.
o LEILAC-2 COMMERCIAL DEMONSTRATOR (four-fold scale-up of LEILAC-1) received €16m (~A$27m) in EU funding in December 2019, and a further €18m (A$30m) in cash and in-kind committed from industrial partners, as final project agreements were executed in March 2020. 

Calix’s aquaculture water treatment product, AQUA-Cal+ achieved 110% YoY growth in H1 FY20, although H2 was impacted by COVID-19 especially in China – overall a flat year compared to pcp. Development in freshwater lake remediation continues its positive progress. 

Calix signed Material Transfer Agreements with four multi-national crop protection companies for BOOSTER-Mag. In August 2019, one of Europe’s largest suppliers of sulphur-based fertiliser and crop protection products, Afepasa, signed a 10-year distribution agreement, which was ahead of our expected commercialisation schedule. 

Significant progress was achieved with advanced batteries with the construction of the new BATMn reactor and the announcement of the Calix-led CRC-P for Advanced Hybrid Batteries with $3m in funding in August 2019. 

Total Revenue and Other Income up 75% to $A24.4m
Core Product Sales up 327% to $A14.1m 
Other Revenue down 2% to $A10.4 m
EBITDA  ....... up 224% to 1.5m

Strong financial position with a closing cash balance of $11.1m, cash flow positive, zero debt and with significant pipeline of grant funding to execute further R&D.


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## Dona Ferentes (27 August 2020)

significant confidence in the Company, shown by investors today, with the results Announcement. (sellers will appear, but, hey; took an hour or so for the buyers to appear !)

5 day chart, 1 minute


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## So_Cynical (27 August 2020)

All boxes ticked in today's announcements, sales revenue up 327% from 3.3 million to 14.1 million (rounded up) operational profit up 224% with 
debt down 91%, excellent performance reflected in the SP with shares now trading at the upper end of the all time chart, covid just a distant blip.


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## Dona Ferentes (27 August 2020)

So_Cynical said:


> All boxes ticked in today's announcements, sales revenue up 327% from 3.3 million to 14.1 million (rounded up) operational profit up 224% with
> debt down 91%, excellent performance reflected in the SP with shares now trading at the upper end of the all time chart, covid just a distant blip.



thinly traded ... Some 3x100,000 shares went through at 89.5c as a crossed trade NXXT. Seller had confidence to wait for the FY numbers,; buyer had confidence the FY numbers auger well for future.


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## Dona Ferentes (2 September 2020)

6 month chart, daily

_Covid; what was that?_






(_continue to hold; added at 71c several months ago)_


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## over9k (2 September 2020)

This one would be worth posting in the outstanding breakouts thread I reckon


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## Dona Ferentes (2 September 2020)

over9k said:


> This one would be worth posting in the outstanding breakouts thread I reckon



naw, I'll keep accumulating. thx. Long game.


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## Dona Ferentes (4 September 2020)

over9k said:


> This one would be worth posting in the outstanding breakouts thread




up 5% on a near 3% down day. Record HIGH

5 day chart: any panic at open was an opportunity for others


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## Dona Ferentes (22 September 2020)

CXL has dropped a bit to around 90c. Not to worry; always expected it would be a slow grind. it would be nice to see the technology being mentioned in the recent low emissions technology road map, but the focus is on the big players (those with money that intersect with government) such as the steel industry (Mr Gupta, BSL) and aluminium (threatening to shut smelters down), where the incorporation of Hydrogen, for example, in the energy mix will be deemed competitive when it can be produced for $2 a kilogram or less.

.... and, appointed to the Board, an industrial biotech lawyer (ish) person, Helen Fisher


> With the emergence of many biotech applications for Calix’s nano-active materials in our development pipeline and significant commonalities in the technology commercialisation journey of innovative companies, Calix welcomes Helen’s very significant experience to the Board. Helen’s experience in biotech development, intellectual property matters, finance and financial markets, corporate strategy and risk management brings ... etc etc


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## over9k (22 September 2020)

It's still on my watch list


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## Dona Ferentes (7 October 2020)

technology company Calix Limited (ASX: CXL) confirms that it has* received a payment of $5.3m *from the Australian government associated with its R&D tax incentive claim for the 2019/20 financial year.

_In addition, it welcomes recent announcements regarding government policy settings associated with; _
_i) encouraging investment in advanced manufacturing, especially in resources technology and advanced battery materials development,
ii) acknowledgment of the role that carbon capture technology can play in helping to achieve emissions reduction targets, and 
iii) extending support for research and development activities. 
_
_Calix has 27 patent families that cover technology for the manufacture of environmentally sustainable, novel materials for water and wastewater treatment, agriculture and aquaculture, industrial carbon capture and advanced battery materials development, amongst others. Calix believes investment in these technologies to be crucial in helping to build a strong backbone of advanced manufacturing capability and innovation as core assets of its business. Such investment will support the development of industries and businesses of the future, with sustainability at their core. _


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## Dona Ferentes (6 November 2020)

presentation for* FY21 Year to Date Update *available on the website; CXL will present at the NWR Small Cap Conference to be held at 11.25am to 11.55am, Friday 6 November 2020.  


> Calix Limited is using its core mineral processing platform technology to grow multiple global businesses.
> 
> Cash-positive and with no debt, growing revenues, secure supply chain, readily scalable and with a funded development pipeline


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## So_Cynical (21 January 2021)

All time high/close  $1.19 ~ been a wild ride for holders and watchers, up 15% yesterday - no news.


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## Dona Ferentes (21 January 2021)

So_Cynical said:


> All time high/close  $1.19 ~ been a wild ride for holders and watchers, up 15% yesterday - no news.



wouldn't call it  _wild_ ride, more that it is thinly traded and a slow reveal.

The Lilac process for cement is attractive, as it looks to reduce CO2. Also it is based in Europe and aligned with major companies.  With the EU setting targets for emissions, success  would benefit CXL

As FGR stated in its recent Update







> _The manufacture of cement carries a significant CO2 burden which is estimated to be more than 6% of all CO2 emissions from human activity.  The industry faces major challenges, notably the pressure to reduce the carbon footprint (CO2 contribution) of cement-based products.  The application of new technologies to improve strength and durability of finished concrete products offers a route to improve the efficiency of cement usage and promote lighter, stronger concrete structures ..._




No complaints here, as it put on a few more cents this morning






(HOLD)


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## Dona Ferentes (27 January 2021)

was thinking of a CEMENT thread, just to look at technologies that are nipping at the 'traditional' processes:

1.  Calyx, with its *LEILAC *kiln technology, "_theoretically the lowest cost solution to CO2 mitigation for cement and lime_" and with some big EU hitters on board, plus EU money.
2.  First Graphene, research confirms the _ability of high-quality pristine *graphene *platelets to increase both the compressive and tensile strength of cementitious composites and concretes.  The mechanism of strengthening has been fully validated in the laboratory_.
3. WA Kaolin, where the* "*_company plans to commercialise its technology for generating _*metakaolin *_at its Kwinana pilot plant. Metakaolin  is used in geopolymer cements that do not require the extremely high temperature that is critical in the Portland process.  WA Kaolin   estimates geopolymer cements could reduce carbon dioxide emissions by as  much as 80%._

But Calix core technology is more than just cement:
*CO2 Capture *When processing limestone, cement meal, or magnesite, gas exhaust is pure CO2
*Low Cost, Safe + Very High Surface Area (Reactive) Products* which include Wastewater, Aquaculture, Lake remediation, Crop protection and Advanced batteries

_
Meantime CXL had a new high following yesterday's volume buying from $1.20_


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## So_Cynical (27 January 2021)

Dona Ferentes said:


> was thinking of a CEMENT thread, just to look at technologies that are nipping at the 'traditional' processes:
> 
> 1.  Calix
> 2.  First Graphene
> 3. WA Kaolin




I didn't know about the other 2 will do some reading, as for Calix, Heidelberg cement is a major backer of the *LEILAC *kiln.
Heidelberg cement is a big player, great to see the CXL share price going nuts.


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## Dona Ferentes (27 January 2021)

So_Cynical said:


> Heidelberg cement is a major backer of the *LEILAC *kiln.Heidelberg cement is a big player, great to see the CXL share price going nuts.



Totally agree. In the internet of economy, I just said _EU big_ _hitters_, and they don't come much bigger than Heidelberg. The whole carbon neutral tone and thrust of EU legislative action means these targets will be met. So, why not hitch a ride. 

Oh, and #4, a bridesmaid, is EDE Eden.


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## Dona Ferentes (29 January 2021)

and up 25%

_CEMEX – one of the world’s largest cement companies and already a partner on the LEILAC-1 project - has joined the LEILAC-2 project to help develop Calix’s technology for CO2 mitigation in the production of cement. 

On January 29, 2021, the European Commission officially approved Cemex joining the LEILAC-2 Project (https://www.project-leilac.eu/ ) following unanimous support from the LEILAC-2 consortium. The LEILAC-2 Project is focussed on scaling Calix’s CO2 mitigation technology for the cement and lime industries to demonstration scale at HeidelbergCement’s Hannover cement plant, following a successful piloting of the technology via the LEILAC-1 Project in Belgium. 

CEMEX has committed in-kind support to the project given its strong technical expertise and knowledge of the cement production process, as well as a cash contribution, which will be applied to the construction phase of the project.  _


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## So_Cynical (31 January 2021)

Calix and sustainable aquaculture, a very informative video presentation from a couple of weeks ago.
~


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## Dona Ferentes (4 February 2021)

Calix seems to have shook off an earlier investor selling down/ off.  Block trades to other insto's and fund managers?  (Thorney/ Tiga took up about 2 million of them)



> On market sale of 15,500,000 fully paid ordinary shares by Sculptor Finance (MD) Ireland Designated Activity Company at A$1.20 per ordinary share


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## Dona Ferentes (24 February 2021)

_*Financial Highlights *_
• Total sales revenue grew 151% on Previous Corresponding Period to $9.21m (1H FY20: $3.67m)
• Total revenue and other income grew 114% on PCP to $16.27m (1H FY20: $7.61m)
• Operating Profit of $3.06m (1H FY20 Loss of $0.25m)

During the half-year to 31 December 2020, Calix continued to develop its core technology platform, from which the Company is developing several multi-billion-dollar global business opportunities.

*Outlook *
The Company will continue working towards the FY21 targets across each segment. With exciting opportunities in the sustainable processing business, there is significant potential to expand relationships pending successful early trial results, which Calix anticipates to report on in the near-term.

Exploiting technical advantages in the US and re-establishing Chinese aquaculture sales are the key priorities for Water, with the aim to grow revenues and improve margins post-COVID.

Crop protection continues to be a promising lines of business for Calix. Building on existing early revenues and trial results, developing the next major license is the key next step toward commercialisation in this segment. The new opportunity emerging in marine coatings is also exciting, and attracting significant industry interest.

.......
_has opened at $2.10, a fresh high. and unusual to see a company still in development of their technology making a bit of money along the way.

(HOLD)_


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## barney (24 February 2021)

Dona Ferentes said:


> During the half-year to 31 December 2020, Calix continued to develop its core technology platform, from which the Company is developing several multi-billion-dollar global business opportunities.
> _(HOLD)_



Going gangbusters!  Great Chart! 🥸


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## So_Cynical (24 February 2021)

So_Cynical said:


> (July 27 - 2018) Floated at 53c last week and now pushing through 95c a spectacular opening and an interesting business, an alternative tech play.




Afterburners lit, through $2.20 ~ lots of upside still, been a big 3 years.


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## Dona Ferentes (24 February 2021)

So_Cynical said:


> Afterburners lit, through $2.20 ~ lots of upside still, been a big 3 years.



yep, going well. Has been a good few days.


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## Dona Ferentes (1 March 2021)

_*Calix technology to be piloted in novel energy storage system with Swedish company, SaltX*_

• Efficient, low cost energy storage systems have been identified as a key enabler in electricity network decarbonisation efforts and are a fast-growing, multi-$b market
• *SaltX *(https://saltxtechnology.com/) (Nasdaq First North: SALT B) is a leader in the development of a novel salt-based energy storage system
• Calix’s electric-powered kiln technology has been identified as a high potential addition to the SaltX technology
• A pilot project, funded by SaltX and in partnership with Calix and Sumitomo SHI FW, will develop a 200 kW energy storage system and test it over FY22
• If successful, scale-up to a megawatt-scale, small commercial system would follow, along with commercial arrangements to exploit the technology
• The opportunity is yet another application for Calix’s core kiln technology, especially our electric-powered version, where we are seeing *accelerating interest across multiple industries as they try to decarbonise traditional heating processes *



> over 9K said. This one would be worth posting in the outstanding breakouts thread I reckon




that was not a breakout; this is a breakout:


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## Dona Ferentes (17 March 2021)

*trading halt **in order to finalise the details of a proposed *_*capital raising *_to fund opportunities to accelerate growth;

.... that's the fourth cap raise I've received from my minnow 'special interest' holdings, in 2 weeks. Now they are all going the accelerated placement and SPP route, where will I find  a lazy $120K (if the planets alogn and the offers look good)?


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## Dona Ferentes (19 March 2021)

*Highlights*:  _Calix to accelerate investment in ESG projects _

o _Calix to invest in its advanced battery development program and accelerate the development of its other lines of business
o Calix has received firm commitments for a Placement to sophisticated and professional investors *at $2.00 per share* to raise $14.0 million, and in addition, a *Share Purchase Plan* will be offered to existing eligible shareholders in Australia and New Zealand, of up to $30,000 per shareholder, capped at $3.0 million
o The placement and SPP will provide the resources needed by each line of business to pursue the significant increase in opportunities that Calix’s technology is attracting._

Calix Limited is developing multiple environmental business opportunities, all from the one core patented technology, including: 
• Water 
• CO2 mitigation 
• Biotech 
• Advanced battery materials 
• Sustainable processing.

• To date, Calix has undertaken technology development through self-funding, grants and project revenues.


> Calix CEO and MD, Phil Hodgson, said “_We have seen a significant increase in inbound enquiries driven by the rapidly increasing interest in Environment, Social and Governance, or “ESG”, investing. To turn these enquiries into value, we need more engineers, equipment, and dealmakers."_


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## Dona Ferentes (30 March 2021)

Calix has picked up a BOOT (or Build  demonstrate and go home) agreement wih AdBri (ABC) for the development of a lime project for lime production, with CO2 capture and multi-fuel options (gas, hydrogen, renewables).

_The production of lime currently emits roughly 1 tonne of CO2 per 1 tonne of lime produced. Lime is used extensively in producing steel, aluminium, rare earths, gold and many other minerals and is thus a significant contributor to those important industries’ carbon footprints._



> _Calix CEO and MD Phil Hodgson said “We have seen a significant increase in inbound enquiries in Calix technology driven by the rapidly increasing interest in Environment, Social and Governance, from countries, companies and investors. This important project is a world-first in ambition to produce zero-emissions lime, one of the most important industrial products globally, and it is great to be developing this in partnership with Adbri, in an Australian project, with Australian technology.” _




Helping the SP along, at a new high on the news. And the SPP still open


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## Dona Ferentes (13 April 2021)

_*Calix raises $5m in strongly supported Share Purchase Plan *_

Highlights:  

Calix has successfully closed its Share Purchase Plan on April 8, with nearly* $20m *in subscriptions received.
As a result of the strong level of support received from existing shareholders, Calix has increased the *original $3m SPP to accept $5m*. 
 Calix’s ESG investment acceleration program is now fully funded as announced on March 19, 2021, through the SPP and the $14m Share Placement to sophisticated and professional investors

_So , another heavily scaled back offer_.

(Holders with EFT details recorded will be paid today and should receive funds on April 14, 2021. Those without EFT details will be sent a cheque, which may take several days to process and send. )


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## Dona Ferentes (15 April 2021)

nice to see Regal Funds Management in with 5.45% holding


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## sptrawler (15 April 2021)

Dona Ferentes said:


> nice to see Regal Funds Management in with 5.45% holding



I nearly bought in at $1.44 , story of my life. 🥺


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## Country Lad (16 April 2021)

sptrawler said:


> I nearly bought in at $1.44 , story of my life. 🥺



That may not necessarily preclude you from buying anyway.  There are many a share about which I made a similar comment only to see them continue to rise. I topped up on CXL yesterday, partly because I thought there was another breakout but mainly based on the technology and fundamentals.


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## sptrawler (16 April 2021)

Yes I just have to wait until there is some free cash.lol I should have said, some cash free, no free cash for this black duck, except for the $600 that McGowan gave for the electricity, which was much appreciated.


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## Dona Ferentes (20 April 2021)

Dona Ferentes said:


> _*Calix raises $5m in strongly supported Share Purchase Plan *_
> 
> 
> _So , another heavily scaled back offer_.



the placement and SPP raised capital at $2.00. After placement of $14M, a generous $3M in SPP was available; Calix got applications for $20M and lifted acceptances to $5M. I put in for $20,000 and received $5,600 of shares.  (refund arrived promptly)

_While Calix traded well above the $2.00 mark for the offer duration, there has been a bit of fatigue since. T_


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## frugal.rock (29 April 2021)

Dona Ferentes said:


> _While Calix traded well above the $2.00 mark for the offer duration, there has been a bit of fatigue since. T_



Nice find Dona. 
Noticed the price climbing a few days ago. Chart shows it as a pullback, then a run.
Wouldn't be surprised to see it hit $3+ soon enough.


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## Dona Ferentes (29 April 2021)

So_Cynical said:


> Intra day high of $1 so far and could set a new closing all time high, the last few announcements have been positive with the Battery
> grant funding in Aust and the CO₂ capture/cement project in Europe, the tech revolution isn't all software, CXL flying under the radar.



Two years on; are you still in, @So_Cynical  ? Your posts helped me formulate a view, back then. Thanks


Dona Ferentes said:


> Calix-led Consortium to be awarded €16m (A$26.5m) in funding for the commercial scale-up of its CO2 capture technology, as the EU declares *a “climate emergency”. *The pilot plant should be ready for operation during 2019 and will be test run for up to 2 years to demonstrate the technology*.*



and the two year test run period should be close. 

CXL flying. Under the radar, still. 

(_Hold; never sold any_)


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## Country Lad (29 April 2021)

Dona Ferentes said:


> Two years on; are you still in, @So_Cynical  ? Your posts helped me formulate a view, back then. Thanks



 Me as well, it was @So_Cynical posts that alerted me to this one - owe you a beer or 3 SC.  I was probably a bit late to the party buying in at $1.12 as per my chart above and topped up a bit a couple of times.  Will probably be a longer term hold. I just hope it can manage all the baskets and the latest newsletter appears to be positive on that front.


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## So_Cynical (30 April 2021)

Dona Ferentes said:


> Two years on; are you still in, @So_Cynical  ? Your posts helped me formulate a view, back then. Thanks
> 
> and the two year test run period should be close.
> 
> ...






Country Lad said:


> Me as well, it was @So_Cynical posts that alerted me to this one - owe you a beer or 3 SC.  I was probably a bit late to the party buying in at $1.12 as per my chart above and topped up a bit a couple of times.  Will probably be a longer term hold. I just hope it can manage all the baskets and the latest newsletter appears to be positive on that front.




Yep still holding, CXL was my largest $ position until i sold a third of my position 2 weeks ago, needed the cash and wanted to take some profits off the table, still in love with Calix.


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## Dona Ferentes (11 May 2021)

and now, some more:

o _Calix and Pilbara Minerals (PLS) have executed an MOU covering the co-development of “midstream” lithium chemicals refinery utilising Calix’s core technology _
_o The MOU commits the parties to a scoping study on the project_*, at Pilbara Minerals’ cost, *_covering lithium salt production of up to several thousand tonnes from Pilbara Minerals’ spodumene concentrate facility at Pilgangoora 
o Following success in the scoping study, Pilbara Minerals and Calix propose to jointly develop a demonstration plant at Pilgangoora, with a view to further commercialising the technology developed _
_o The project represents a world-first development of a commercial-demonstration-scale, low-emissions lithium salt production facility _



> “_At the mine, if we can efficiently calcine a lower-grade spodumene concentrate we should also be able to achieve a higher recovery from the ore body, meaning less mine wastage and lower cost,_” said Pilbara Minerals managing director, Ken Brisden. “The _opportunity to produce a higher-value product in Australia should also allow us to capture more of the overall value in the new-energy industry as it develops_.”






> Phil Hodgson, Managing Director of Calix, said the successful trials over the course of the past nine months had tested spodumene concentrates of different grades and particle sizes.  “_This proof-of-concept work demonstrated that the Calix technology was able to achieve >95% conversion of the spodumene ore to an extractable lithium, which is comparable to the conventional rotary kiln process, but with fine, and lower grade, material. Additionally, we carried out these runs on our “BATMn” electric kiln, providing additional proof-of-concept for the technology to be run off renewable electricity, such as a solar and/or wind farm._“


----------



## Dona Ferentes (14 May 2021)

Building's hard problem - making concrete green
					

Concrete accounts for 8% of carbon dioxide emissions, but some firms are hoping to cut that down.



					www.bbc.com


----------



## Dona Ferentes (30 June 2021)

Calix is partnering in a low carbon research project which has won $39 million in Australian Government funding.

The _*Heavy Industry Low-carbon Transition Cooperative Research Centre*_ (HILT CRC) aims to reduce carbon emissions of Australia's heavy industrial process.  Comprising heavy industry players, government and research, the Centre aims to boost the capability of Australian companies to remain globally competitive by capitalising on existing mineral and renewable energy resources to become leading international producers and exporters of low carbon products.

As well as a spread of universities and research centres, core industrial partners include ADBRI, Alcoa, Boral, Fortescue, Grange Resources, Liberty, Roy Hill, and South32.

The CRC will establish hubs in heavy industry regions of Gladstone, the Pilbara, Northern Tasmania, SA's Upper Spencer Gulf, WA's Kwinana and South West regions, the Southern Highlands of NSW and Portland in Victoria.

- _in other words, cement and Al smelter locations as well as iron ore. _


----------



## Dona Ferentes (5 July 2021)

_the market is encouraged. We'll get that $3 soon enough:
_
CXL executed a MoU with RHI Magnesita, the leading global supplier of high-grade refractory products, systems and solutions_. The MOU covers the development of a Calix Flash Calciner for use in the production of refractory materials, which will enable CO2 separation for either utilisation or storage. _
_ 
Under the terms of the MOU, Calix and RHIM have agreed to undertake studies _*up to and including basic Front End Engineering and Design for a commercial-scale demonstration facility *_at an RHI Magnesita site. 

RHI Magnesita and Calix commenced first discussions around the potential for reducing the CO2 footprint of the refractory production process in early 2019. Calix has been processing magnesite, the main raw material in the production of refractories, since 2013 in its Bacchus Marsh facility for water treatment products. The application of Calix’s technology to refractory products has been the subject of pilot scale test work during 2020, with larger scale test work currently underway.  

Separation and storage or reuse of CO2  released from carbonate minerals is a crucial step in decarbonising the refractory industry and thus the production processes of materials such as steel, cement and lime.  _


----------



## So_Cynical (5 July 2021)

RHI Magnesita: https://www.rhimagnesita.com/

Wiki: https://en.wikipedia.org/wiki/RHI_Magnesita

RHI Magnesita is a major player, 2.2 Billion in annual revenue and 14000 employees.
~


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## Dona Ferentes (6 July 2021)

another day, another MoU for carbon capture 


...  _covering the development of a lime project for lime production, with CO2 capture and multi-fuel options, with Tarmac (https://tarmac.com/ ), the UK’s leading sustainable building materials and construction solutions business_.


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## Country Lad (7 July 2021)

I love the ones that predictably follow the script.  Up another 7% so far today, although losing momentum at the moment.


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## Dona Ferentes (7 July 2021)

Dona Ferentes said:


> _the market is encouraged. We'll get that $3 soon enough:_



And that was on Monday. 👍👏📈🤸


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## So_Cynical (7 July 2021)

Dona Ferentes said:


> _the market is encouraged. We'll get that $3 soon enough:_




Smashed through 3 dollars, was thinking today that with all the take overs happening and the world flush with cheap money, Calix with a market cap of 470m and all that green - blue sky technology, at some point a VC firm will have a crack at them.


----------



## Dona Ferentes (8 July 2021)

So_Cynical said:


> Smashed through 3 dollars, ........
> at some point a VC firm will have a crack at them.



_ I hope not. What skills can some financial engineer bring to managing change? _

It has got to be encouraging, with large cap industrial outfits, those involved in the LEILAC process, signing MoUs with Calix before the #2 plant results are out. But the technology has applications beyond one industry, so it is up to CXL to keep the knowledge and grow effectively.


----------



## So_Cynical (9 July 2021)

Dona Ferentes said:


> _ I hope not. What skills can some financial engineer bring to managing change? _



I dont like it either but thats how the world works - i have knack of buying stocks that get taken over.

I'm sure there would be VC sharks looking at Calix right now. The recent Tarmax MOU said that terms for ongoing licencing are still be figured out, Calix could end up getting an ongoing licencing stream from multiple Calciner installations around the world, licencing money is free money that can flow for decades.


----------



## Dona Ferentes (4 August 2021)

From today's Investor Presentation

Progress since our March 2021 capital raise
*Sustainable Processing: Magnesia refractories – another industry striving for net zero*
• Phase 2 testing underway
• July 2021: MOU with RHI Magnesita for Calix Technology kiln for (magnesia) refractories
• Covers concept to Pre-Front End Engineering and Design for a commercial-scale facility
• 25kTpa CO2 separation capacity
• Fuel options include renewable electricity

*Sustainable Processing : Spodumene – supplying the majority of global lithium*
• May 2021: MOU with Pilbara Minerals Limited (PLS)
• Co-development of a “mid-stream” lithium chemicals refinery utilising the Calix Technology
• Phase 1: Scoping Study target late 2021
• Phase 2: If successful - JV formation target H1 2022 and FEED study
• Phase 3: If successful Demonstration Plant JV target 2024

*CO2 Mitigation line of business*
• Successful test campaign conclusion –LEILAC-1
• March 2021: LEILAC-2 Project passes pre-Front End Engineering and Design Milestone
• On-track for Final Investment Decision (FID) in early 2022
 Project descriptions being developed with 6 cement companies and 2 other lime companies (after Adbri and Tarmac)

*Growing legislative pressures and incentives continue*
… Our initial target markets, the EU and US, have made significant moves in the last two months…
*EU update ...  July 2021 *
• CO2 EU ETS permit price doubles since 2019 to over €55/tonne
• EU introduces even more strict / ambitious targets in draft legislation
•55% reduction by 2030 from 1990 levels
•Maritime shipping to be included for the first time in CO2 caps

_*USA update  May–June 2021 *_
• Various Acts being introduced into congress and senate looking to increase EOR to $US50 - 60 and GS to US$85 / tonne CO2 + min. facility size dropped to 10kTpa, claimable out to 20 years


----------



## John208888 (1 September 2021)

So_Cynical said:


> Smashed through 3 dollars, was thinking today that with all the take overs happening and the world flush with cheap money, Calix with a market cap of 470m and all that green - blue sky technology, at some point a VC firm will have a crack at them.



0% chance, they are growing very slowly, their technology has been knocked back by heidelberg cement and their pretend battery technology is only there to take focus off the fact that they have lost 30% of their turnover in the USA, their claim of growth there is based on the fact that they only included half a year of the first year for the 2020 return compared to a full year in 2021. Even their "core" market of Australia has reduced from 4.29 - 3.4m turnover. If you buy Calix you are being hoodwinked.


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## John208888 (1 September 2021)

Dona Ferentes said:


> From today's Investor Presentation
> 
> Progress since our March 2021 capital raise
> *Sustainable Processing: Magnesia refractories – another industry striving for net zero*
> ...



T


Dona Ferentes said:


> hey are growing very slowly, their technology has been knocked back by heidelberg cement and their pretend battery technology is only there to take focus off the fact that they have lost 30% of their turnover in the USA, their claim of growth there is based on the fact that they only included half a year of the first year for the 2020 return compared to a full year in 2021. Even their "core" market of Australia has reduced from 4.29 - 3.4m turnover. If you buy Calix you are being hoodwinked.






Country Lad said:


> I love the ones that predictably follow the script.  Up another 7% so far today, although losing momentum at the moment.
> 
> View attachment 127100



Eventually it will all come to light, they are growing very slowly, their technology has been knocked back by heidelberg cement and their pretend battery technology is only there to take focus off the fact that they have lost 30% of their turnover in the USA, their claim of growth there is based on the fact that they only included half a year of the first year for the 2020 return compared to a full year in 2021. Even their "core" market of Australia has reduced from 4.29 - 3.4m turnover. If you buy Calix you are being hoodwinked.


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## Dona Ferentes (1 September 2021)

Nice downramp.

Investor Day tomorrow, ... Pushed through $4 today.


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## So_Cynical (1 September 2021)

John208888 said:


> 0% chance, they are growing very slowly,  If you buy Calix you are being hoodwinked.



From 3 dollars to 4 dollars in 8 weeks, SP has doubled in 6 months, Calix like 100 other tech and new economy stocks is being priced on pure potential and speculation, and thats fine for me, haven't bought since $1 something.


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## Country Lad (1 September 2021)

John208888 said:


> Eventually it will all come to light, they are growing very slowly, their technology has been knocked back by heidelberg cement and their pretend battery technology is only there to take focus off the fact that they have lost 30% of their turnover in the USA, their claim of growth there is based on the fact that they only included half a year of the first year for the 2020 return compared to a full year in 2021. Even their "core" market of Australia has reduced from 4.29 - 3.4m turnover. If you buy Calix you are being hoodwinked.



I think it is appropriate to call out misrepresentation of the facts when they occur here as all the members no doubt would like to have confidence that statements made here are based on fact.

@John208888, I think your credibility has suffered a terminal hit, and only after your second post.

You say that:    "_their technology has been knocked back by heidelberg cement"_

The fact from the release of the go-ahead for LEILAC-2:
_HeidelbergCement, again displaying significant support and willingness to support very novel carbon capture technology developments, has kindly agreed to closely integrate the Demonstration plant into one of their operational plants in Germany. Engineering, supported by HeidebergCement, IKN, CIMPOR, Certh, Polimi and Calix, has commenced on this ambitious build. With the aim of achieving a commercially relevant solution as quickly as possible, and addressing the main remaining risks as fully as possible, this plant aims to become operational by 2023._

Not only that, the consortium is joined by CEMEX:

_The European Commission officially approved CEMEX joining the LEILAC-2 Project following unanimous support from the LEILAC-2 consortium. The LEILAC-2 Project is focussed on scaling Calix’s CO2 mitigation technology for the cement and lime industries to demonstration scale at HeidelbergCement’s Hannover cement plant, following a successful piloting of the technology via the LEILAC-1 Project in Belgium._

You also say   _they have lost 30% of their turnover in the USA,_

The way I read the annual reports they say that the turnover in USA:
2020   $  9,772,084
2021   $18,202,258

To me that looks more like nearly double, not a 30% drop. 

 Just for the record, the USA profit:
2020   loss    $660,400
2021   profit $920,076

As @Dona Ferentes   said, "Nice downramp." I am not even interested why.


----------



## paulkim1211 (14 September 2021)

8.5% drop in the last few days. Many say it's correction, but I believe it's more than that.

Calix Limited CXL.ASX, share buyers are following the greater fool theory, which is when one buys shares in a company with no chance of making a dividend return and hopes that someone will pay them more for those shares (a greater fool), obviously a fundamentally flawed strategy. With even a basic analysis it is obvious the company has little hope of ever turning a profit, on current trend (without further acquisitions as there are currently none planned) turnover in the core market of Australia has reduced by 20%, turnover in the usa acquisition has reduced by 20%. 

The battery technology is going up against Samsung and Panasonic, who are the market leaders for a very good reason, even in the best case scenario Calix would need to produce their own batteries and then wait for a contract to expire with a car company to try to compete, so best case in 15 years they may see some return, but if I was a gambler i’d say the odds are worse than 1,000,000 :1. 

So that leaves carbon capture, if by some miracle they built a usable device (which seems unlikely given Heidelberg cement aren't even using the technology) the market has already allowed for every contract they may get to be ongoing, but they are not. The contracts would be to pay a once off licence fee to build the technology, so any profit is short lived and will not impact enterprise value in the long term.


*The stats as it stands*

Underlying turnover growth ($19 million) year on year -20%

Profit growth -25%

Share price +400% (or 34 times turnover)


To put this crazy valuation in context, to be in the region of sanity (PE ration of <20) Calix would need to increase their gross margin by 20% to make a nett profit of around 5%, at the same time as increasing turnover by 3300%. History is always a good place to start wen judging future performance. In 2019 Calix bought Inland environmental which helped increase turnover by $15 million (2021 financial year), but it cost $9 million to buy the business. If they follow the same model they will need to raise around $297 million for acquisitions to increase their turnover to make the business with the current valuation. But the problem is their underlying gross profit isn't high enough, so they will need to buy profitable companies and keep the profit rather than degrading it as they did in the USA.


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## Dona Ferentes (15 September 2021)

_write your reply_

Here it is:

Carbon Direct invests €15M ($A24.5M) for 7% stake in Calix’s LEILAC business 

 Calix will use funds to accelerate deployment of lime and cement decarbonisation technology 
*Highlights*: 
_ • €15M investment in Calix’s LEILAC business by Carbon Direct, one of the world’s leading decarbonisation investors 
• Investment will accelerate the development and deployment of LEILAC, which uses Calix technology for cement and lime decarbonisation  
• Carbon Direct will advise LEILAC on areas including capital markets, regulations, commercial development, and technical development, helping it scale the business 
• LEILAC technology has been successfully piloted at 25,000tpa scale and is now being scaled up to 100,000tpa, with several commercial pilot plants under development 
• Investment implements Calix’s equity farm-in strategy to create focussed, commercialisation businesses for its core technology _


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## Country Lad (15 September 2021)

Dona Ferentes said:


> Nice downramp.



...and may they continue.  First couple of downramps by a new member's first and only posts saw the price jump through $4. After the last downramp by another new member's first post we see the price currently up 20% today.


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## Dona Ferentes (15 September 2021)

Country Lad said:


> ...and may they continue.  First couple of downramps by a new member's first and only posts saw the price jump through $4. After the last downramp by another new member's first post we see the price currently up 20% today.



Yes, it must be hard being the _work experience guy _in whichever short selling, fake news outfit. Not very professional.


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## Dona Ferentes (15 September 2021)

Someone is keen.... now pushed through $5 with little retrace.  ... Mainly algo trading, nibbles both sides, upward and onward.

Then someone put up 50,000 block and a bit of hesitation, then it went in just one bite.

Now 5.28.  +35%. I like it.


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## So_Cynical (16 September 2021)

Closed at $5.35 up almost 40% in a day...greater fool hey.


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## Dona Ferentes (16 September 2021)

there's a (hastily arranged) webinar at 10am today, with a Q&A to follow. This will help inform the pathway, I suspect.


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## Dona Ferentes (16 September 2021)

So_Cynical said:


> Closed at $5.35 up almost 40% in a day...greater fool hey.



making hey while we shun signs

Closed at 5.39, after spending most of the day at or above that point.  More detail in the morning call and slides:

Calix to earn licensing income regardless of equity

•_As part of the transaction, Calix Limited will earn 30% of all royalties / license revenues earned by the LEILAC Group, in addition to its 93% ownership 
•Any income to the LEILAC Group for engineering services or project equity return above standard arms length terms will count as royalty income
•The license will continue while any current or future Calix Limited Patent in the Field of cement and lime production (from calcium carbonate) remains in force. Given current patents granted and pending on the core and new developments of the technology, Calix expects that the term of the licence will exceed 20 years 
•Any new / developed IP from the LEILAC Group related to the licensed Calix Group IP will remain the property of Calix Limited, to be freely exploited outside the Field or for further R&D, as well as licensed back to the LEILAC Group within the Field._



> The deal represents a critical milestone in Calix’s stated strategy of seeking equity “farm-ins”, after initial development undertaken by Calix, to accelerate and deploy its underlying platform technology into each line of business, with Calix remaining head licensor.





> • As each of these businesses become independent commercial entities, they will remain ”joined at the hip” technically with Calix, which will continue to support development of the core intellectual property.
> • Over time, growing royalty income from these companies will also support the development of new applications of the IP and associated technologies.


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## So_Cynical (7 October 2021)

The LEILAC final output report has been released and the reception seems to be positive, report highlights read as positive with operational CO2 capture coming in at a range of 14 to 24 Euro per Tonne, current price for a Euro offset is around 65 Euro.

One major surprise for me is that it looks like the world is going to need to store a lot of CO2, a major new global industry storing CO2.



			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02432506-2A1329406?access_token=83ff96335c2d45a094df02a206a39ff4


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## So_Cynical (7 October 2021)

Calix basically saying that they can retro fit every European Cement plant with LEILAC technology, how many cement plants in Europe?
what's the alternative for all these plants to achieve low or zero emissions?

Calix up 12% today, so far, MC 760M ~ one would think that cap could go significantly higher.


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## Dona Ferentes (7 October 2021)

as @Ann   posts for the European CO2 market





__





						EU Carbon Permits
					

"EU Carbon Permits increased 26.40 EUR or 80.68% since the beginning of 2021, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity." Trading Economics...




					www.aussiestockforums.com
				






> For a full scale, developed and retrofitted LEILAC plant, CO2 capture costs (including Capex and Opex) for cement is estimated to be in the range of around €14 to €24 per tonne of CO2 avoided ,* the lowest reported of any technology *, with scope for further cost reductions possible.




Are these equivalent?


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## So_Cynical (7 October 2021)

Dona Ferentes said:


> Are these equivalent?



Yes i believe they are, what Ann referred to are permits to pollute i think, offsets or permits have similar pricing because to pollute a Tonne one needs to offset or abate a Tonne or buy an offset....i need to do some reading on what's current in greenhouse euroland.


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## Dona Ferentes (8 October 2021)

*ATH *.... Calix closed near its highs of the day (5.90) at $5.85 on the second day of rises. Opened yesterday around 4.80 after the LEILAC announcement.

Apart from the algo trading and day traders leaving the building, price action involved several large licks being taken out when allowed to accumulate. This occurred several times during the day, at 5.50, 5.60, 5.70. But the biggest volume, of 120K of shares was at closing time today.


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## Dona Ferentes (14 October 2021)

Dona Ferentes said:


> ... price action involved several large licks being taken out when allowed to accumulate. This occurred several times during the day, at 5.50, 5.60, 5.70. But the biggest volume, of 120K of shares was at closing time today.



and Australian Super revealed as lifting its holding in CXL from 7.11% to 8.18%.  I would take them as a  longer term holder


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## So_Cynical (24 October 2021)

LEILAC Virtual Tour, a video explaining how the process works.
~


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## Dona Ferentes (25 October 2021)

Is mid-stream the same as downstream?  Will go with the flow, anyway.

Today's ASX Ann for PLS


> Pilbara Minerals has entered a trading halt pending an announcement regarding the company entering into a transaction concerning a *downstream *joint venture.




11 May 2021


> Pilbara Minerals targets “*mid-stream*” lithium chemicals opportunity with Calix .





> Pilbara Minerals is evaluating with Calix the potential future production of value-added lithium salts/chemicals at the Pilgangoora Project, which could further rationalise the current supply chain for part of its spodumene concentrate production


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## So_Cynical (3 November 2021)

New all time high today at $5.96 prompted me to do some long awaited portfolio rebalancing, sold about half my CXL position for a profit of 687% ~ money needed for renovations, have decided to never to sell out of anything completely again.


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## Dona Ferentes (5 November 2021)

So_Cynical said:


> New all time high today at $5.96 prompted me to do some long awaited portfolio rebalancing, sold about half my CXL position for a profit of 687% ~ ... have decided to never to sell out of anything completely again.



Sensible (I suspect) . Depends where you are on the investment cycle, and yr timeframe, I guess.

Sixth day in a row up... and closed at $6.25 (with a high of 6.27, twice, late in the day). Wed and Thursday were strong; I half expected $6 to be a battleground if it retraced to that level. But no.

(Hold)


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## Dona Ferentes (12 November 2021)

and now:
_Calix files a new patent for zero emissions iron and steel _

_*Highlights:*_ 
• Calix announces the filing of a patent covering a new and significant application of its core technology for the production of zero CO2 emissions iron and steel 
*• *Calix's* “ZESTY”TM (*Zero Emissions Steel TechnologY) process involves the use of the Company’s core “kiln” technology for the production of iron with the goals of:  
o Reduced temperature of operation 
o No pelletisation of iron ore required – enabling the processing of fines 
o Able to be renewably powered, with intermittent operation 
o Can approach theoretical minimum hydrogen use 
• In addition, when producing steel from Calix’s ZESTY process:  
o Calix’s “LEILAC”® (Low Emissions Intensity Lime and Cement) process can be used to produce zero-emissions lime - used in steel-making to remove impurities – with no need for lime pelletisation. 
• Next steps: if confirmed by a testing program being undertaken by Imperial College, London, Calix will conduct scale-up testing at the Company’s Bacchus Marsh facility with ores from a potential customer that Calix has already engaged in discussions.

*Conclusion *

Calix’s patent outlines the use of Calix’s core technology to produce zero emissions iron and steel. The technology will need to be scaled and tested, and the patent upheld, to achieve commercial success. Initial testing is taking place at Imperial College in London. If positive results are confirmed, Calix will then conduct scale-up testing at the Company’s Bacchus Marsh facility with ores from a potential customer, who Calix has already engaged in discussions. 



> CEO of Calix Phil Hodgson said: “_These are early days for the Calix ZESTY technology, however, given the materiality of both the potential for our technology in iron and steel production and the size of the environmental challenge, being similar to the one our LEILAC business is addressing, we will be pursuing this opportunity as quickly as possible – the world cannot wait any longe_r.”




.... _and a long long journey !

(continue to Hold)_


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## So_Cynical (12 November 2021)

Big announcement was up 16% ~ momentum is a hell of a thing.


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## Dona Ferentes (13 November 2021)

GCCS | Staging
					

Just another WordPress site




					gccassociation.org
				





The GCCA 2050 Cement and Concrete Industry Roadmap for Net Zero Concrete​


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## Dona Ferentes (16 November 2021)

Calix had the AGM today. With it, the chair having a few words and a Presentation.

All about CO2 mitigation/ reduction, and the global backdrop of intensifying interest in Environment, Social and Governance (ESG) investing, and a rapidly evolving landscape of government, corporate and financial commitments to net-zero CO2 targets. 



> BUT ….. we need to mitigate 2.2 billion tonnes pa = 4,400 LEILAC-3’s = 1 built every ~3 days from now until 2050




CXL really took off from $7.60 in the last hour of trade, big licks going through, hit $8.00 (one trade only) at 3.55pm and has finished the day 11% up at $7.94


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## Dona Ferentes (22 November 2021)

the ASX query intimates that Calix _characterises the Announcement as having the primary intention of communicating the ZESTY Patent Application to the market.  _

The response goes on to explain the context: "_However, the underlying reason for the Announcement was not the making of the ZESTY Patent Application, rather it was the Board’s view of how the market would assess the value of the commercial implications of that application.  _

_The Board’s view was formed in the period following the lodgement of the ZESTY Patent Application because Calix was approached by several commercial and academic parties with proposals relating to the testing of the viability of the ZESTY technology and the commercial exploitation of the patented technology. These approaches included the statements by Imperial College, London that, in their view, the application of the Calix technology in the manner represented by the ZESTY Patent Application was considered to have great potential.  The pace and momentum of the market’s interest in the ZESTY technology, the scale of the addressable market and the public statements by Imperial College, London led the Board to conclude that the potential value of the technology represented in the ZESTY Patent Application was information which a reasonable person would expect to have a material effect on the price or value of Calix’s securities and to which none of the exemptions in ASX Listing Rule 3.1A would apply.  

Guidances and the Code 2.a  The lodgement of the ZESTY Patent Application with AusPat, in itself, was not sufficient to warrant disclosure under ASX Listing Rules 3.1. As the ASX has noted, ‘the fact that a patent application has been filed is seldom material, it is generally only after grant that a patent right becomes a material asset, which should be disclosed’.  Calix has filed a number of patents since listing. The usual practice is not to disclose the applications as they are not regarded as material within meaning of ASX Listing Rule 3.1.  As set out above in the ‘Background’, the primary purpose of the Announcement was the disclosure of the potential value of the technology, given the market interest in the ZESTY technology and the statements by Imperial College, rather than the ZESTY Patent Application itself.  

For these reasons, Calix did not disclose the ZESTY Patent Application on 18 October 2021. Calix also confirms that the Announcement was not a guise to publish promotional, political or tendentious material, but simply to disclose information to the market, which a reasonable person would expect to have a material effect on the price or value of Calix’s securities._

Market response was to open a bit lower $7.84, bounce around a bit bit generally not fazed.


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## Dona Ferentes (22 November 2021)

... and that explanation didn't placate some. CXL experienced a sell-off after an hour's trading, getting as low as $7.00 and closing nearly 8% down at $7.29.


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## Dona Ferentes (21 December 2021)

today, an update on the mid-stream processing for spodumene (Lithium) with Pilbara (PLS) with the aim of _Decarbonising the Hard Rock Lithium Raw Materials Supply Chain_

TESTWORK, TECHNICAL INPUTS AND ENGINEERING SUPPORTING THE MID-STREAM PROJECT SCOPING STUDY COMPLETE

HIGHLIGHTS 
• *Scoping Study *for the Mid-Stream Product Demonstration Plant nearing completion, with technical and engineering work now complete. 
• *Work to-date *supports the Mid-Stream Project objectives for exporting a value-added lithium product from the Pilgangoora Project: 
o calcination test work at Calix’s pilot scale BATMn reactor confirms high conversion rates (>95% for Alpha to Beta phase transition), for fine flotation spodumene concentrate1 produced from Pilgangoora; 
o targeting a materially lower carbon emission footprint through extensive electrification of the calcination process powered by renewable sources, as well as reduced freight quantities; and 
o potential to re-shape the existing spodumene supply chain and present global markets with a cleaner and more efficient supply chain solution. 
• *Next steps:* 
o Economic and commercial evaluations contributing to a completed Scoping Study early in the New Year.
 o Subject to successful completion of the Scoping Study, progress negotiations for the formation of a joint venture.  
o Agree a work program to develop a Demonstration Plant and ultimately commercialise the Mid-Stream Product’s process technology.

So, working towards another string in the CXL bow. Calix has had its recent slide  ($8 to $5.70) arrested and up 10c. PLS is down 12% but that company brought out two announcements, the second one overshadowing the CXL progress


> _*Delays have been experienced *with both the Ngungaju Plant re-start and Pilgan Plant Improvements Project, particularly through plant commissioning, ramp-up initiatives and extended plant shut-downs (for both regular maintenance and to address equipment failures).  _





> _The Company’s ability to operate and improve the Pilgan Plant and restart the Ngungaju operation have been *further impacted *by the extended border closures which are now impacting the ability of all mining companies in Western Australia from accessing key personnel in construction, production and maintenance roles. _


----------



## Dona Ferentes (22 December 2021)

coming back with CXL as my tip for 2022 Comp; 

With quite a few applications for the technology under investigation, and with money in the bank, it is possible the Calix SP could surge again, especially if some deep pocketed player comes along.


----------



## So_Cynical (22 December 2021)

Dona Ferentes said:


> coming back with CXL as my tip for 2022 Comp;
> 
> With quite a few applications for the technology under investigation, and with money in the bank, it is possible the Calix SP could surge again, especially if some deep pocketed player comes along.




I think ill pick CXL again for the 22 comp, especially with the timing of the SP pull back, easy to see a scenario where CXL goes considerably higher in 22, with a MC of 945 at the moment there appears to be room to move higher.


----------



## peter2 (22 December 2021)

I'm keeping an eye on *CXL* as well. I missed out on the massive price trend in 2021. *CXL* seems to be researching ways to capture carbon in many industries. If they manage to do it in only one industry it will be a company maker. If their tech can be adapted to several industries the potential for *CXL* will be huge. 

Price is currently at an old break-out level. This should provide some support. I'm waiting for buy setup that forms above my line.


----------



## Dona Ferentes (28 January 2022)

> Livewire readers love small caps. That said, your most-tipped smalls for 2021 took quite the tumble. These reader favourites fell 14% in a year when the benchmark, the S&P/ASX Small Ordinaries, lifted 12.75%....






> _... we surveyed thousands of Livewire readers in December to see how you are thinking about markets in 2022. So in this episode, we'll be taking a look at one of the interesting findings from that survey. Of course, it wouldn't be Buy Hold Sell without us asking our pros to analyse some of your favourite stocks. In this case, it's your top-tipped small caps 2022.... _




*Ally Selby ( Livewire Markets ) : *Next up we have Calix, which is a sustainable material processing player. It saw its share price skyrocket 546% in 2021. Josh, staying on you, is it a buy, hold or sell?

*Josh Clark ( QVG Capital ) (SELL) : *I think Calix is a sell. I'd love to see this become the next Australian success story. That said, I think there are a few risks in there that you're not necessarily getting compensated for. Obviously, it's a very early stage company. So not only do they not have revenue yet, but they don't quite have that product developed fully yet. So essentially, it's an early-stage science experiment. 

*Ally Selby: *Over to you John. Calix, is it a buy, hold or sell?

*John Deniz ( Paragon Funds Mgmt. ) (BUY) : *I get Josh's science experiment type comment. It's something I usually say about other rubbish stocks. But I don't agree here. I think it's a buy. It's one of the very few ways to gain pure-play exposure to the de-carbonisation theme. The growth pipeline is enormous and it's only strengthening with the carbon price breaking all-time highs of over 80 euros a tonne. The carbon mitigation tech actually works, so I wouldn't call it a science project anymore. And the other thing that I'm cautious of ordinarily is whether they can scale it up and it looks like they'll be able to do that. 


_.... not exactly "no revenue" ... but it is early days and the bigger the scaling up, the higher the early spend_


> _First, positive cash flow, growing revenues and a strong balance sheet. _



$19.6million in revenue from Product Sales. plus R&D Incentives and Project Grants a-plenty


----------



## Dona Ferentes (31 January 2022)

Dona Ferentes said:


> we have Calix, which is a sustainable material processing player. Its share price skyrocketed 546% in 2021.Is it a buy, hold or sell?



and retreat from $7.00 to $5.00 in the last two weeks. High priced tech stock sell-off?

My tip for Feb comp..


----------



## Dona Ferentes (23 February 2022)

Dona Ferentes said:


> and retreat from $7.00 to $5.00 in the last two weeks. High priced tech stock sell-off?



Half Yearly out today. Nothing earthshatteringly new (to my unsophisticated eye)

Financial Highlights:
• Total sales revenue grew by $0.6m on the previous corresponding period to $9.8m (1H FY21: $9.2m), with US gross margins growing from 31.4% to 36.4% pcp. 
• Strong balance sheet and cash position ($26.3m as at end-December, with a further $8m in grant income due this FY) supports continued investment in accelerating commercialisation. 
• As budgeted, an additional $6m+ was invested in people, capital and external advisory during the  half. Operating loss of $5.2m (1H FY21 +$3.2m) reflects this additional investment but remains supported by the cash position.  

_Calix continued to develop its core technology platform, from which the Company is developing several multibillion dollar global business opportunities. _

Commenting on the half-year results, Calix’s Managing Director and CEO, Phil Hodgson, said: 


> “_FY22 is the year we accelerated on technology development, given the growing tailwinds that have transformed the financial markets since early 2021. As a result, we have invested aggressively in people, capital and external expertise. This is starting to pay off. The investment by Carbon Direct into our cement de-carbonisation technology in September ratified this strategy, providing look-through value into just one arm of our business. The opportunities continue to build across all our lines of business, and we are well resourced and positioned to capitalise on them_.”



after some selling the first few minutes to sub $5, the shares have rallied all day, and now up 10%

Might even offer some redemption as it is


> [m]y tip for Feb comp..



(will see how the 4.10 action goes)


----------



## Dona Ferentes (23 February 2022)

Dona Ferentes said:


> My tip for Feb comp..



and as the _*Outlook  *_used some nice words, I will tip CXL for the March comp.



> The Company will continue working towards the FY22 targets across each line of business. Particularly, with a rapidly growing pipeline of opportunities in the CO2 and sustainable processing business, there is significant potential to convert existing relationships into licensing / project agreements, which Calix anticipates reporting in the *near term........*



_"With many mineral and chemical processes requiring heating in a kiln, Calix’s electric Calix Flash Calciner (CFC) technology is a comparable  yet sustainable option for when alternative or renewable power is desired. Electrification and use of renewable energy is a growing focus of many industries. 
"There have been a multitude of inbound enquiries, and application development is now progressing in at least six new areas – long-term energy storage, spodumene processing, refractory production, “LC3” cements, alumina, and now iron and steel production." _


----------



## Dona Ferentes (16 March 2022)

*bit of a tax driven strategy here, I'd reckon!!*​​Course of Sales​
Course of sales table 

TimePrice $VolumeValue $MarketCondition4:51:22 PM7.010118,794832,745.940ASXLT XT4:29:09 PM0.780118,79492,659.320CXALT4:10:34 PM7.010321.030ASX


----------



## Dona Ferentes (18 March 2022)

The bots have been busy on both sides for weeks, and today saw 14,400 trades and nearly 10 million shares exchanging including, at 4:10pm, more than 6 million CXL shares changing hands at $7.30, the high for the day (and a 5 month high)


----------



## Dona Ferentes (23 March 2022)

I _didn't think there was any doubt, but now its official_

Calix Limited is pleased to announce that LEILAC-2 has passed the Financial Investment Decision milestone.  

*Highlights*:
• The Calix lead LEILAC-2 project has passed its Financial Investment Decision (FID) to build a plant capable of capturing 20% of a cement plant’s CO2 at very low cost, which will be integrated into HeidelbergCement’s operational plant in Hannover, Germany.
• Supported by the EU’s Horizon 2020 scheme, the Calix design is for a new type of capture technology, designed as a retrofit, scalable module, that aims to use alternative and renewable fuels. 
• This FID milestone has been achieved despite the complications arising from the global pandemic and Russian invasion of Ukraine. We are now proceeding with detailed design, purchasing long-lead items, and expecting to commence construction in 2023. There remain key project risk flag points prior to purchasing major components, given the market situation. 
• The LEILAC approach is designed to enable a green and just transition to a low-carbon future with the objective of strengthening local industry and maximise the use of local resources – while addressing climate change.
• This first-of-a-kind modular retrofit, aiming to address a cement plant’s unavoidable emissions, is aiming to ultimately separate CO2 for a cost of €20 to 25 per tonne of CO2. 
• The LEILAC-2 plant is located at Hannover, providing a potential testing and backbone for future use and offshore storage options, and an excellent opportunity for decarbonising central European industry.
• The LEILAC-2 Project Consortium includes HeidelbergCement, Calix, CEMEX, Cimpor, Engie, IKN, Lhoist, and other global research and governmental partners.
• Critical global climate change targets have been committed to for 2050, with the IPCC assessment reports emphasising the need to accelerate the deployment of all CO2 mitigation technologies, and it is hoped that LEILAC can play a key role.


----------



## Dona Ferentes (23 March 2022)

From a close last night at $6.96, Calix opened after the Announcement at $7.21 and had a strong early lift to 7.50 . It has been basically up, up since then, a pause around $8.00 and as high as $8.14.

 Will the ATH of $8.20 (intraday) from last October be breached or will a double top form?

 .... *Update *a few minutes in; CXL sitting just above $8.00 after first real pullback of the day


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## So_Cynical (23 March 2022)

Closed $8.05 a hell of an up day, todays announcement even made the GlobalCement news. 









						LEILAC-2 carbon capture project given go-ahead to commence construction in 2023
					

LEILAC-2 carbon capture project given go-ahead to commence construction in 2023




					www.globalcement.com


----------



## Dona Ferentes (24 March 2022)

So_Cynical said:


> Closed $8.05 a hell of an up day, todays announcement even made the GlobalCement news.



The close was strong, and EoD was above last year's.

It's got to be one of the contenders. The global situation is cause for worry, though.
_"Calix added that, due to a number of project risk flag points given the 'market situation,' it will not buy major components until closer to that time (2023)."_


----------



## Dona Ferentes (24 March 2022)

Dona Ferentes said:


> The close was strong, and EoD was above last year's.
> 
> 
> So_Cynical said:
> ...




Every time there is a bit of a run, pushing to/ past $8.10, we then see a bit of selling. And CXL has done this 3 times, four if the strong closing price action is included, since yesterday's 15% lift.

So, a short term response; I sold 10% of my holdings, some 2800 shares acquired in the SPP at $2.00, for $8.08 this morning.

_Now with Free Carry and a ten bagger_


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## Dona Ferentes (31 March 2022)

Market sensitive but not market moving ... up 1%

Calix is enthused about its process having an application with Pilbara PLS. Scoping study work was done by Lycopodium LYL

 _Using Calix Limited’s (ASX:CXL) flash calcination technology, test-work has confirmed high calcination conversion rates (>95% for alpha to beta spodumene phase transformation) using fine flotation spodumene concentrate1 produced from Pilgangoora. _
_The contained *lithia *content of the product is expected to increase from ~5.7-6.0% in spodumene concentrates to >36% in lithium phosphate salts, thereby optimising offshore product logistics, reducing associated carbon emissions, and minimising waste in the destination market._ 
_Scoping Study undertaken by Lycopodium Minerals has confirmed the technical viability of the Mid-Stream project to deploy a novel calcination technology and integrated chemical concentration process at the Pilgangoora Operation to produce a new endproduct, with the preferred product at this stage of study being lithium phosphate salt_.


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## Dona Ferentes (14 April 2022)

Dona Ferentes said:


> The close was strong, and EoD was above last year's.




Good strong action today for CXL which closed on _*day*__*, *__*year *__*and *_*all-time* high of $8.94.

Apart from the usual 'bots nibbling away, a couple of clean-outs were the highlights for the day. A dump into early strength took it from 8.65 to 8.45 early on then, around 1pm, a buyer took it from 8.60 to 8.80. This held until close to 4pm, with growing volume pushing it to the new high.


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## So_Cynical (24 April 2022)

Did some more selling early last week as i needed to finance a new car/ute, thus this is the vehicle that Calix paid for....thanks Calix.
~


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## Dona Ferentes (26 April 2022)

So_Cynical said:


> Did some more selling early last week as i needed to finance a new car/ute, thus this is the vehicle that Calix paid for....



Nice ride.


----------



## Dona Ferentes (16 May 2022)

_bringing the tech here_

Calix, in collaboration with Boral Limited (ASX: BLD), announces a carbon abatement project with $30m in funding from the Australian Government’s Carbon Capture, Use and Storage Hubs and Technologies Program. 

 Highlights: 
• Boral to receive $30m to develop a CCUS project at its cement and lime facilities in the NSW Southern Highlands, targeting 100,000 tonnes per year of CO2 capture. 
• Calix will be supplying its Low Emissions Intensity Lime and Cement technology to the Project. 
• The Project will be developed in three phases:
_...  o The initial feasibility assessment phase will focus on a Basis of Design, commercial agreements and assessment including CO2 use options _
_... o Phase two will concentrate on Front End Engineering and Design  leading to a final investment decision _
_... o Phase 3 will involve detailed Engineering, Procurement and Construction leading to commissioning and operation_


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## Dona Ferentes (16 May 2022)

Is it in a marginal seat? Electoral Ann today?


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## So_Cynical (16 May 2022)

Dona Ferentes said:


> _bringing the tech here_
> 
> Calix, in collaboration with Boral Limited (ASX: BLD), announces a carbon abatement project with $30m in funding from the Australian Government’s Carbon Capture, Use and Storage Hubs and Technologies Program.
> 
> ...



Sounds like a LEILAC-2 type installation? a first for the Aussie cement industry thus giving Boral a green advantage over the others.


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## Dona Ferentes (17 May 2022)

_another day another grant_

$20M AUSTRALIAN GOVERNMENT MODERN MANUFACTURING INITIATIVE GRANT AWARDED 

KEY POINTS 
• _Pilbara Minerals, with its project partner Calix, has been awarded a $20 million grant from the Australian Government under the Modern Manufacturing Initiative - Manufacturing Translation Stream, supporting the further development and demonstration of the proposed “Mid-Stream Project”. 
• Grant funding will be used as part of a Joint Venture to be entered into between Pilbara Minerals and Calix for the progression of a demonstration scale chemicals facility at the Pilgangoora Project - with the *aim of producing lithium salts for global distribution* via an innovative midstream “value added” refining process.  _


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## Dona Ferentes (19 May 2022)

Dona Ferentes said:


> _another day another grant_



_and a hiatus of a day, then 2  bits of news today  ($7.12 ; up 1% on a down day)_

1. Received a payment of $5.19m from the Australian government associated with its R&D tax incentive claim for the 2020/2021 financial year.  
2. Awarded a $11m grant from the Australian Government’s Carbon Capture, Use and Storage Hubs and Technologies Program to develop the world’s first commercial-scale process for the manufacture of low emissions lime with *Adbri *(ASX: ABC).


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## Dona Ferentes (1 June 2022)

Dona Ferentes said:


> Market sensitive but not market moving ... up 1%
> 
> Calix is enthused about its process having an application with Pilbara PLS. Scoping study work was done by Lycopodium LYL




*Key commercial terms agreed *for a *Joint Venture* following award of A$20 million Federal Government Modern Manufacturing Initiative Grant

Pilbara Minerals and Calix have agreed key commercial terms for a JV in an updated binding Memorandum of Understanding
The MoU contemplates the JV will be established for the potential development of a demonstration plant at the Pilgangoora Project with the aim of producing lithium salts for global distribution via an innovative midstream “value added” refining process utilising Calix’s patented calcination technology, as well as for the potential future commercialisation of the process.
Upon formation of the JV, participating interests will be 55% Pilbara Minerals and 45% Calix with each party funding their share of operating and capital costs and licensing their technology into the JV.
Calix will have a 10% in-kind contribution recognised on budgeted estimated construction costs of the Demonstration Plant in return for Calix providing an exclusive, worldwide, royalty free licence for its innovative calciner technology to the Joint Venture for lithium processing applications.


----------



## peter2 (14 June 2022)

Forgot to check my fav ESG stock today. I'm looking for another entry. 







Price is almost at target level for reversal setup. (A-B = C-D)


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## Garpal Gumnut (14 June 2022)

peter2 said:


> Forgot to check my fav ESG stock today. I'm looking for another entry.
> 
> View attachment 142882
> 
> ...



Looks good @peter2 

The fundamentals look good too with the recent $20m grant and tie-up with Pilbara. 

All the best for you when you enter.

gg


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## Dona Ferentes (14 June 2022)

peter2 said:


> Forgot to check my fav ESG stock today. I'm looking for another entry



Six bucks is interesting. Buyers usually hovering.


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## Dona Ferentes (14 July 2022)

Dona Ferentes said:


> Six bucks is interesting. Buyers usually hovering.



But has slipped below that. Mid 5s.

There's a podcast from _TechZero _conference about the Calix process for iron ore. (Can't get link up, will look on their website)

The 'mad scientist' who could turn Australia's iron ore 'green'
00:00 / 27:10


----------



## Dona Ferentes (14 July 2022)

First up, the article mentions the Cement process: 

Overlooked by Australian cement makers that were not incentivised to reduce their carbon footprint, CEO Phil Hodgson's company Calix headed for Europe, where it found an eager audience from cement manufacturers living under tightening carbon price regimes.

On Monday that audience extended to members of the European Parliament, who called through Lixhe {the Belgium LEILAC-2 plant} to learn more about Calix' direct separation technology. That technology is now the hope of the cement industry and highlights the changing focus of the *carbon capture and storage* industry [which] is increasingly focused on capturing, storing and in some cases utilising the carbon dioxide that will be emitted by producers of cement, plastics and steel....

.... Hodgson's tower is now treating 5 per cent of the cement produced at Lixhe by Heidelberg Cement and the plan is to demonstrate consistent operations for another year before building a full-scale model to test commercial viability...


> "_With carbon prices above €25 per tonne, I think we have a very attractive technology," _he says_. ''The heat required [for Calix' technology] should not be any higher than the heat already required by the cement plant, so from an operational cost perspective we should be no higher than a current cement plant.
> ''The only cost is the capital cost of building our facility_.''




European carbon prices rallied from less than €5 ($8.20) in mid-2017 to more than €29 in July 2022.


----------



## Dona Ferentes (14 July 2022)

Dona Ferentes said:


> Dona Ferentes said:
> 
> 
> > There's a podcast from _TechZero _conference about the Calix process for iron ore.
> > _....The 'mad scientist' who could turn Australia's iron ore 'green._



The trademark feature of the* Calix kiln *is its ability to heat minerals to the exact temperature at which gases try to escape. As the gases escape they carve chambers and pores into the mineral structure, turning them into honeycomb-type shapes with a very high surface area. The high surface area makes the structures more reactive, which is a good thing in chemical processing.

Adaptations have .. been found for cement, lithium, crop protection and water treatment, but Calix's Dr Mark Sceats said the size of the global iron ore and steel industries meant that green iron could be Calix’s biggest opportunity yet.

Then on to the big one.

In its recent* green iron *trials, Calix has poured iron ore powder in the top of the inner metal tube and pumped in hydrogen at the bottom of the tube. As they mix inside the tube under heat, the hydrogen takes the oxygen from iron ore and forms harmless steam, while the pure iron falls to the bottom ready for steel-making. Dr Sceats said his process could be a cheap way to make low-carbon steel.



> ”The potential is for iron to become more economically viable in smaller communities,” Dr Sceats told _Tech Zero_. “You could imagine in the year 2050 that you have pretty much a steel furnace in every big town making iron, making steel – electric arc furnaces instead of huge factories."












						The 'mad scientist' who could turn Australia's iron ore 'green' - Tech Zero
					

Meet the 73-year-old Australian scientist who's developed a special kiln that he reckons will solve Australia's iron ore emissions problems and deliver green iron.  For more on the episode, visit the Tech Zero site on afr.com. AFR subscribers can also sign up for the weekly Carbon Challenge...




					omny.fm


----------



## Garpal Gumnut (14 July 2022)

Dona Ferentes said:


> The trademark feature of the* Calix kiln *is its ability to heat minerals to the exact temperature at which gases try to escape. As the gases escape they carve chambers and pores into the mineral structure, turning them into honeycomb-type shapes with a very high surface area. The high surface area makes the structures more reactive, which is a good thing in chemical processing.
> 
> Adaptations have .. been found for cement, lithium, crop protection and water treatment, but Calix's Dr Mark Sceats said the size of the global iron ore and steel industries meant that green iron could be Calix’s biggest opportunity yet.
> 
> ...



From where does the Hydrogen come?

gg


----------



## Dona Ferentes (14 July 2022)

Garpal Gumnut said:


> From where does the Hydrogen come?
> 
> gg



Andrew Forrest


----------



## Garpal Gumnut (14 July 2022)

Dona Ferentes said:


> Andrew Forrest



Yesss...

The knee bone's attached to the thigh bone to the tune of the Pied Piper . H2 ... FeO2... H2O... Twiggy... H2...   or am I missing something here?

gg


----------



## Dona Ferentes (14 July 2022)

Garpal Gumnut said:


> The knee bone's attached to the thigh bone to the tune of the Pied Piper . H2 ... FeO2... H2O... Twiggy... H2...   or am I missing something here?
> 
> gg



as mentioned in the podcast


----------



## Dona Ferentes (31 July 2022)

Dona Ferentes said:


> Calix is enthused about its process having an application with Pilbara PLS. Scoping study work was done by Lycopodium LYL
> 
> _Using Calix Limited’s (ASX:CXL) flash calcination technology, test-work has confirmed high calcination conversion rates (>95% for alpha to beta spodumene phase transformation) using fine flotation spodumene concentrate1 produced from Pilgangoora. _
> _The contained *lithia *content of the product is expected to increase from ~5.7-6.0% in spodumene concentrates to >36% in lithium phosphate salts, thereby optimising offshore product logistics, reducing associated carbon emissions, and minimising waste in the destination market._
> _Scoping Study undertaken by Lycopodium Minerals has confirmed the technical viability of the Mid-Stream project to deploy a novel calcination technology and integrated chemical concentration process at the Pilgangoora Operation to produce a new endproduct, with the preferred product at this stage of study being lithium phosphate salt_.



Pilbara PLS brought out an investor presentation on Friday. As well as fleshing out the Upstream and Downstream aspects of getting a lithium product to market, there's still a focus on the *Midstream*, which is where *Calix* comes in.

*Conventional spodumene supply chain:*
• Carbon intensive, shipping ~94% waste
• Aluminosilicates shipped to customer (>90% of export mass)
• Spodumene concentrate SC6.0
- 6.0% Li2O (2.80% lithium metal by mass)

*Alternate spodumene supply chain*:
• Reduced carbon intensity, apply renewable energy
• Aluminosilicate waste remains at mine site
• Lithium salts shipped
- >35% Li2O (>15% lithium metal by mass)


----------



## So_Cynical (31 July 2022)

The MOU with Pilbara is a big deal, 45% of the royalty stream could be a massive earner for half a century or more.


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## Dona Ferentes (31 July 2022)

So_Cynical said:


> The MOU with Pilbara is a big deal



_*Last paragraph*

Pilbara Minerals and its project partner Calix were awarded a $20M grant under the Australian Government’s Modern Manufacturing Initiative (MMI) .. Manufacturing

Translation Stream to support the development of the MidStream Project.  The grant value achieved was the maximum award value for the nationally contested scheme, providing a significant funding contribution and strong endorsement for the project.  The award remains subject to the parties entering into a formal MMI funding agreement. Following the award of the grant, Pilbara Minerals and Calix have agreed key commercial terms for a JV in an updated binding Memorandum of Understanding (MoU).  Key commercial terms agreed under the updated MoU were set out in the Company’s ASX Announcement dated 1 June 2022_.

*The JV *_*will *_*be formalised upon Pilbara Minerals and Calix finalising and entering into a formal JV Agreement which is expected to occur during the September 2022 Quarter.*


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## Dona Ferentes (24 August 2022)

Annual report out. Going over the content, it is an evolving presentation of the already-disclosed technology/ies. Pilbara is coming along, and one quote caught my eye with the cement process:


> _*BUT ….. *we need to mitigate 1.5 billion tonnes pa process CO2 emissions *= 3,000 LEILAC-3’s ... ~2 built every week from now until 2050*_




 Still have $25M in cash at end of June

Commenting on the annual results, Calix’s Managing Director and CEO, Phil Hodgson, said:  


> _“FY22 was a significant year for the development of the business, with our first “spin-out” investment in the CO2 business a stand-out deal which gave look through value for just one application of our technology, and advancement on multiple fronts in other applications. _





> _Despite global inflation and conflict, the interest in technological solutions to environmental pressures continues to rise, and Calix is extremely well-placed to capitalise on its unique technology solutions. We have invested heavily in people, capital and services to enable us to be in this position, and we look forward to FY23 to continue to turn this investment into significant opportunity_.”


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## Garpal Gumnut (24 August 2022)

Dona Ferentes said:


> Annual report out. Going over the content, it is an evolving presentation of the already-disclosed technology/ies. Pilbara is coming along, and one quote caught my eye with the cement process:
> 
> 
> Still have $25M in cash at end of June
> ...



Do this mob have Bell Potter quickgrow mix in their ascent?

I prefer mine from Bunnings. 

gg


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## Dona Ferentes (24 August 2022)

Garpal Gumnut said:


> Do this mob have Bell Potter quickgrow mix in their ascent?



Got it by the bagful.


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## Dona Ferentes (30 September 2022)

Dona Ferentes said:


> *The JV *_*will *_*be formalised upon Pilbara Minerals and Calix finalising and entering into a formal JV Agreement which is expected to occur during the September 2022 Quarter.*



am waiting for this..... October looms.

Most recently, CXL stated: "J_V established (Demo plant, joint marketing of technology) -*target CY 2022*_"

I think LEILAC-2 may be hampered by ultra-high energy pricing in Europe ... and dragging down the SP?


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## Dona Ferentes (13 October 2022)

Down in the basement


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## Dona Ferentes (19 October 2022)

_Hence the hesitancy_?

_Calix announces global licence agreement with Heidelberg Materials and equity raising to accelerate commercialisation of Calix’s technology for industrial decarbonisation _

Sydney, Australia | 19 October 2022

Australian environmental technology company, Calix Limited (ASX: CXL) announces today that Leilac, Calix’s 93% owned subsidiary focusing on decarbonisation of cement and lime, has signed a global licence agreement with Heidelberg Materials (FWB: HEI) for the use of the Leilac decarbonisation technology. Calix is also announcing a fully underwritten institutional Placement to raise A$60 million comprising the issue of 13.2 million shares at an issue price of *A$4.55 per share*; and a non-underwritten *Share Purchase Plan *to raise up to an additional A$20 million.



> _The technology licence fee is a first-of-a-kind for the industry, and comprises a royalty floor, variable component linked to carbon price/value, and a royalty cap linked to costs versus alternative technologies. The terms of the agreement with Heidelberg Materials require the royalty quantums to remain commercial-in-confidence_.


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## Dona Ferentes (19 October 2022)

From the Placement, the $60million to be raised to be used thus:

1. Accelerate commercialisation of Leilac's cement and lime decarbonisation technology .............. A$38.0m
2. Construct a lithium salt demonstration processing plant in JV with Pilbara Minerals. .................. A$17.5m
3. ZESTY Green Iron / Steel –Plant Modifications, Further Trials and a FEED Study for 30kTpa Demonstration Facility ... A$2.5m
4. Transaction costs ~A$2.0m

• SPP proceeds will fund discretionary spend of up to $20m to accelerate alternative energy options - Electric, Alternative Fuels Development


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## Dona Ferentes (20 October 2022)

trading resumed after the placement ... (which was completed in one day).


> _The Placement received strong support from local and international investors, including existing eligible shareholders and also new institutions_.




After the usual bit of a sell-off, that didn't touch $4.55, the SP has risen above the closing price on Tuesday ($5.12), which augers well.


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## Dona Ferentes (26 October 2022)

The Calix SPP is OPEN ; it aims to raise up to $20 million and is not underwritten. Calix reserves the right to *increase *the size of the SPP *or* may decide to *scale back *applications under the SPP at its absolute discretion. The issue price for New Shares issued under the SPP will be the lower of $4.55 (Placement Price) and a VWAP discount formula.

_and with Calix trading a buck above , at $5.50, it may be sensible to jump in earlier.  _


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## Dona Ferentes (28 October 2022)

Calix has been informed that the _Australian Government_ is *not proceeding* with the Carbon Capture, Use and Storage (CCUS) Hubs and Technologies Program. Following the Australian Government’s Budget announced on 25 October 2022, AusIndustry advised Calix that the $11m in grant funding, announced by the former Government in May 2022, has now been cancelled.

The grant funding was in support of Calix’s project with Adbri (ASX: ABC) to develop low emissions lime.
Similarly, Boral (ASX: BLD) has advised Calix that the $30m in grant funding, announced by the former Government in May 2022 has also been cancelled. The grant funding was in support of a CCUS project utilising Calix’s cement and lime decarbonisation technology.
_.... probabaly not enough gender-awareness training in the submissions_


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## peter2 (28 October 2022)

Another example of sovereign risk or political flip-flops. 
I sold *CXL* for a small loss after news of the SPP would likely cause the price to fall to the SPP of 4.55.  It did on open but then rallied to 6.00 over the next few days. Arrgh. Now this news sees the price plunge below the SPP. Seems the price of net-Zero requirements is scaring a few. Phew. Too volatile for me. Winners in this crazy race to net-Zero are going to be impossible to pick. The losers are already known and it's us, the paying customers.


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## Dona Ferentes (28 October 2022)

what a wrench. _Do I put any more money in (glad I'm free-carried) _?


peter2 said:


> Another example of sovereign risk or political flip-flops.
> ..... Winners in this crazy race to *net-Zero *are going to be impossible to pick. The losers are already known and it's us, the paying customers.



too bloody right, on both points.


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## peter2 (28 October 2022)

Good decision to "free carry" this high risk, high reward company. I liked the outlook for *CXL* until now.  Future outlook becomes cloudy (with meatballs). Does their carbon capture tech have the potential to earn it's keep without gov't handouts? 

If gov't doesn't partially finance carbon capture tech many companies won't be able to offset their carbon emissions. Net-Zero will be impossible to achieve without fudging the numbers. ABS has plenty of experience with this.


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## sptrawler (28 October 2022)

peter2 said:


> Good decision to "free carry" this high risk, high reward company. I liked the outlook for *CXL* until now.  Future outlook becomes cloudy (with meatballs). Does their carbon capture tech have the potential to earn it's keep without gov't handouts?
> 
> If gov't doesn't partially finance carbon capture tech many companies won't be able to offset their carbon emissions. Net-Zero will be impossible to achieve without fudging the numbers. ABS has plenty of experience with this.



Its going to be interesting to see which horses the Govt/Greens back, in their chase to fulfill the 43% reduction promise. Hopefully those that become collateral damage, arent those that they require in the end.


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## Garpal Gumnut (28 October 2022)

I must admit I'm more interested in the bride rather than the movements of the nightie. 

I was going to jump in to this late in the piece  after other ASF members had gotten in early, and I'm glad I didn't. 

gg


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## martaart077 (28 October 2022)

Garpal Gumnut said:


> I must admit I'm more interested in the bride rather than the movements of the nightie.
> 
> I was going to jump in to this late in the piece  after other ASF members had gotten in early, and I'm glad I didn't.
> 
> gg



U might not like the bride as much without her makeup, except of course the lights might be out by then


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## So_Cynical (28 October 2022)

Grants come and go, low emissions lime will have to be developed and implemented to get to zero, cement is a big deal and the govt will have to pay at some point, long term Calix is the pre eminent zero play.


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## Dona Ferentes (1 November 2022)

So_Cynical said:


> ...long term Calix is the pre eminent zero play.



we hope so.  Down since the loss of govt money news, and closing on $4 (which is where it was in Sept 2021)

_AustralianSuper_, who you'd assume would be a long-term holder though has been buying and selling on the way up and down, has increased from 8.18% to 10.72% according to most recent notice, mainly through CONVER.


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## Dona Ferentes (10 November 2022)

Dona Ferentes said:


> Shares issued under the SPP will be the lower of $4.55 (Placement Price) and a VWAP discount formula.



Strong finish for CXL over the last 2 days and the SPP closes tonight, and why not a *competition*, see below


Dona Ferentes said:


> _and with Calix trading a buck above , at $5.50, it may be sensible to jump in _



But no.... Proved not to be the case. Has been as low as $4.02 following the news of grant money.

With today's* close at $4.69*, and big swings when SPP was open, will
1.) the issue be oversubscribed?
2.) and if so, will there be scaleback?
3.) What will the issue price of new shares be?

Trading over the last 5 days:





My guesses,
1.) Yes, oversubscribed (330 @ $30k each will get there)
2.) No scaleback, they'll take up extra $$s to compensate for loss of grants
3.) There's a 2.5% discount on VWAP over last 5 days, so I'll go* $4.30  *


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## peter2 (10 November 2022)

I agree that *CXL* is one of the main CC players in the ASX. If they can capture carbon in cement it would be a huge advantage for *CXL* and appease the vocal few. I have purchased a small speculative parcel again and will wait to see what happens after the SPP has ended.


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## Dona Ferentes (12 November 2022)

wrap it in the flag and ABC will give some airtime









						Green steel plan, lithium processing push could keep Australian materials onshore, expert says
					

A consultant says projects planned by an Australian company could lead to a shift in the country's export mentality.




					www.abc.net.au


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## Dona Ferentes (15 November 2022)

Calix has accepted a total of A$21.6m in subscriptions for its SPP. The SPP aimed to raise A$20.0m. The increased size of the SPP enables all existing shareholders to receive their full allocation under the SPP.  New, fully paid, ordinary shares in Calix offered under the SPP will be issued at* A$4.24 *per SPP Share


Dona Ferentes said:


> 1.) Will the issue be oversubscribed?
> 2.) and if so, will there be scaleback?
> 3.) What will the issue price of new shares be?
> 
> ...




Even better. Oversubscribed, not scaled back and even more bang for my SPP buck at $4.24  

( remind me never to apply for a _G.O. _position at Club Med )


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## Dona Ferentes (22 November 2022)

> CXL temporarily paused pending a further announcement.



Just raised capital at $4.55 / 4.24 .... (now $4.98)


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## Dona Ferentes (23 November 2022)

An update, following on from a press release from global building materials company, CEMEX, S.A.B. de C.V. titled,
“_CEMEX strengthens commitment to decarbonize the construction value chain_”
 published on its website on 21 November 2022.   The CEMEX press release announced new Carbon Capture, Utilisation, and Storage (CCUS) projects, including:


> “_Three Front End Engineering (FEED) studies to scale CCUS technologies at CEMEX plants in Germany, Poland, and the US. The studies fall under the scope of a new global license agreement with Leilac, a subsidiary of Australian technology company Calix. The agreement enables CEMEX to leverage Leilac’s highly efficient direct separation technology, to capture CO2 at a low cost in its operations_.”




Leilac, Calix’s 93% owned subsidiary focused on the decarbonisation of cement and lime, and CEMEX have a longstanding partnership. CEMEX is a founding and valued member of a consortium of companies and institutions partnering to develop and apply the Leilac technology through the Leilac1 and Leilac-2 projects.  

*Calix and Leilac are working closely with CEMEX to progress the three projects mentioned in the press release as well as a global licence agreement, currently under negotiation, covering CEMEX’s global operations. *Calix and Leilac will continue to work with CEMEX towards the shared goal of decarbonised cement and lime.  

The official press release from CEMEX can be found at: https://www.cemex.com/-/cemexstrengthens-commitment-to-decarbonize-the-construction-value-chain –


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## Dona Ferentes (5 December 2022)

So_Cynical said:


> Grants come and go, low emissions lime will have to be developed and implemented to get to zero, cement is a big deal and the govt will have to pay at some point, long term Calix is the pre eminent zero play.



_And another player in the CC space. I wonder where the money will come from ?_

Australia’s largest cement producer explores carbon capture​04 Dec, 2022 

Processing engineering firm KC8 Capture Technologies will construct and install a demonstration plant to capture carbon dioxide at one of Australia’s largest cement producers, Cement Australia’s facility in Gladstone.
The deal marks Cement Australia’s move into carbon capture and storage amid growing pressure on heavy industry to reduce emissions, including in hard-to-abate sectors.
KC8 is set to build a demonstration plant for Cement Australia at its Gladstone location
KC8 said its solvent-based carbon capture processes were highly efficient and cost-effective. The system had the potential to capture up to 95 per cent of carbon dioxide emissions from heavy industry sources, such as cement plants, the firm said.
Labelled the PACER project, meaning Potassium Carbonate Absorption for Clinker Emissions Reduction, Cement Australia will support KC8 in scaling up the company’s technology with the aim to make carbon capture affordable and sustainable and reduce climate impacts. The plant is expected to be built by the second quarter of 2023, with testing and full operations to follow.
“The PACER project objectives directly support Cement Australia’s decarbonisation road map and pathway to net zero carbon emissions,” Cement Australia chief executive Rob Davies said.

“We are excited to see the project get underway – it is a key part of a number of complimentary initiatives Cement Australia is progressing as part of its decarbonisation priorities. The capture and use of CO2 into value-added products is a strategic pillar of Cement Australia’s decarbonisation road map.”
Cement Australia’s move into carbon capture and storage comes as heavy emitters come under greater pressure to reduce their climate impact and contribute to emissions reduction efforts.
Cementing a partnership​The safeguard mechanism, established under the former Coalition government in 2016, requires industrial facilities that generate more than 100,000 tonnes of greenhouse gases a year, such as coal mine sites, gas plants, aluminium smelters and cement producers.
Baseline emission limits are intended to be progressively lowered, but critics say limits have been so high that the policy is ineffective.

KC8 executive director Greg Ross said the company’s technology offered the best solution.
“We believe our carbon capture technology will provide an affordable pathway to reduce greenhouse gas emissions from the use of fossil fuels and heavy industries around the world. And we are very excited to partner with Cement Australia, as having access to their cement facility will become ground zero for having a larger impact both here in Australia and overseas.”
He declined to comment on the costs involved.
Carbon capture and storage enjoyed strong support from the Morrison government, but Labor in its first budget stripped $250 million from such projects. KC8 was one of the companies to have funding cancelled.
Carbon capture and storage proponents have accused the Albanese government of turning its back on the sector despite its potential to help Australia reach net zero by 2050.


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## sptrawler (5 December 2022)

Dona Ferentes said:


> _And another player in the CC space. I wonder where the money will come from ?_



The 43% reduction fund.   While it lasts.

I do hold CXL


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## So_Cynical (5 December 2022)

The cement industry globally has a big issue with zero or even any serious reductions, i was at the Adelaide Brighton AGM a few months ago where management boldly stated that basically they were 100% dependant on technology that hasn't been developed yet, thats a hell of a thing to say, a billion dollar business reliant on **** that doesn't exist.

Calix is the ONLY business that can offer something real to the industry as far as genuine reductions go.


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## Dona Ferentes (5 December 2022)

sptrawler said:


> The 43% reduction fund.   While it lasts.
> 
> I do hold CXL



Retain my core holding but sold the recent cap raising today. Tipped in $20k at 4.24 and let them go at 5.11.

Something else to look at!!


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