Updates on $ASPI and $CLMT
+5.93%current return
"My base case assumes a $1.25 RD Index Margin, a $1.50 SAF premium, and 210mm gallons of MRL production composed of 150mm gallons of SAF, 25mm gallons of RD and 14mm gallons of RN. This implies $250mm+ EBITDA for CLMT’s 87% stake in MRL and total EBITDA of $535mm for CLMT (assuming $285mm cyclically adjusted EBITDA for SPS/PB). At a 8x multiple, this should push CLMT stock near $30, representing a 56% return from today."
ASP Isotopes ($ASPI) There have been a number of interesting developments with ASPI since my last update in early August. The company signed an MOU with Fermi America for the development of a HALEU enrichment research and commercial production facility. Fermi was founded by former US Energy Secretary and Texas Governor, Rick Perry; the company aims to be one of the world’s largest energy and data infrastructure campus, providing 11GW of power on land leased from Texas Tech University. Impo
idea •The Pale Blue Dot • Nov 9, 2025