In our last post on Camco we saw how profitable this business is. They reported a 154% gross profit margin on the sale of 151,288 tonnes sold at 19.07 euros. This batch of 5.8 million tonnes sold at 15 euros for non-guaranteed delivery as some of the projects had not yet been certified by the U.N.
Still, if the cost of goods sold are the same, a 100% gross margin.
Project developer Camco (CAMIN.L: Quote, Profile, Research, Stock Buzz) has auctioned 5.8 million tonnes of carbon offsets, for non-guaranteed delivery, to buyers aiming to use these to meet greenhouse gas emissions targets, the company said on Thursday.Nancy Pelosi, Al Gore and T. Boone Pickens Walk Into a Bar (CLNE)"
Camco shares were up nearly 6 percent in morning trading at 58 pence ($1.07)....
... "This transaction underwrites our estimates that Camco will be the first carbon trader to generate positive cashflows in 2008 - thereby proving its business model," said Gus Hochschild, analyst at Mirabaud Securities Limited, raising his share price target to 136p from 125p....MORE