CCE - Carnegie Clean Energy

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Re: CWE - Carnegie Wave Energy

the news is already out:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01314100

and the Market reacted straight away.
(Some bright sparks may have "anticipated" something a few days earlier )

 

[Shaneus]

Re: CWE - Carnegie Wave Energy

Yet another stock dilution. Meanwhile our directors continue to accept their salaries, not to mention the packaged stock and options (more potential dilutions).

We all love this science experiment, but have any future earnings or profits been forecast? How does anyone here value this stock?

 

[Country Lad]

Re: CWE - Carnegie Wave Energy

How does anyone here value this stock?

As a penny dreadful getting dreadfuller.

With a billion shares on issue, they will probably need up to $30 odd million to get this commercialised. That will result in 2 billion shares at half thee current value. Any appreciable profit from their gizmos will still only be stuff all per share.

Better value elsewhere until the concept is proven commercial (a long way off).

Cheers
Country Lad

 

[pixel]

Re: CWE - Carnegie Wave Energy

Yet another stock dilution. Meanwhile our directors continue to accept their salaries, not to mention the packaged stock and options (more potential dilutions).

We all love this science experiment, but have any future earnings or profits been forecast? How does anyone here value this stock?

I still held a few in my "Green" portfolio; reading this morning's announcement, I made sure they all "went" in the Open Auction. As an early bird, I even got 3.9c.
Now I have a month to decide whether I want them back at 3.2c. At this stage, I won't bet on it. But that is solely based on Technicals.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

I am wondering whether anyone else has noticed that this stock has risen forty percent in the last couple of weeks. The buyers are outnumbering the sellers by a considerable amount promising further rises in the coming weeks.

It might be that the construction stage is about to begin and a three or four cent sp may not be available too much longer.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

Not too many stocks would have outperformed this one today. On a day when the market lost $27 billion, this one was up 10.5 % on high volume.

There were no new announcements and the recent surge can only be explained by the market gaining confidence that the company will deliver on it's promise to have a plant producing power and freshwater by next year.

Commencement of construction will raise the profile substantially putting upward pressure on the sp. The opportunity to get a stock this close to realising it's biggest goal to date are few and far between.

I have liked the stock for quite a few years and like many on this forum have had my patience severely tested. With a sp of under 5 cents and on the verge of delivering, it might be a good time to have a fresh look.

 

[Porper]

Re: CWE - Carnegie Wave Energy

Not too many stocks would have outperformed this one today. On a day when the market lost $27 billion, this one was up 10.5 % on high volume.

Volume is pathetic on this dog stock. Yes it increased today but hardly high volume.

There were no new announcements and the recent surge can only be explained by the market gaining confidence.

Surge? This company has lost over 94.0% in value since 2008. Surge, maybe but in the wrong direction.

I have liked the stock for quite a few years.

See above...lost 94.0% over the period you have liked it. Enough said. If you want to ramp it I think you need some logic behind your comments. For newbies looking at this stock - beware as it is a gamble only. It may head higher but it could equally delist i.m.o. The only slight positive is that price has hit multi year support. Doesn't mean it's heading up though.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

Porper,

I don't consider it to be ramping by highlighting that the stock has reached an important turning point. It has taken more than ten years to arrive at this point. The development phase is now complete and the construction phase will commence in the next quarter. I do not deny that the stock was pushed above 40 cents by punters wearing rose coloured glasses. It is often the case with highly speculative stocks that die before they reach fruition. This one has managed to ride out that storm and looks to be in sight of delivering.

Some research will show you that buy recommendations are beginning to emerge. That is something I have not seen before. It may account for the surge that has been underway in recent days. I believe that buyers sense that the stock is about to be rerated now that construction is about to begin.

Another 8 million shares have been traded this morning already and the sp went up to 4.9 cents. You may regard it as a dog but a growing number of traders have a different opinion.

 

[pixel]

Re: CWE - Carnegie Wave Energy

Porper,

I don't consider it to be ramping by highlighting that the stock has reached an important turning point. It has taken more than ten years to arrive at this point. The development phase is now complete and the construction phase will commence in the next quarter. I do not deny that the stock was pushed above 40 cents by punters wearing rose coloured glasses. It is often the case with highly speculative stocks that die before they reach fruition. This one has managed to ride out that storm and looks to be in sight of delivering.

Some research will show you that buy recommendations are beginning to emerge. That is something I have not seen before. It may account for the surge that has been underway in recent days. I believe that buyers sense that the stock is about to be rerated now that construction is about to begin.

Another 8 million shares have been traded this morning already and the sp went up to 4.9 cents. You may regard it as a dog but a growing number of traders have a different opinion.

Never mind, groundhog
Some don't like it and call it a dog; but this old cat has been watching its Fundamentals for a number of years and likes the concept of "free" energy. I've also been mindful of the Technicals, therefore haven't maintained a continuous holding.
Currently, I'm again building a position, starting from below 4c (see blue arrow) and trading small swings to keep the risk down. I've taken part profit yesterday at 4.3c, but am again accumulating today as I see continuing support in the chart.



The weekly chart suggests resistance may come in around 5.4c:

 

[pixel]

Re: CWE - Carnegie Wave Energy

Speeding Ticket
and usual reply "No" and "Not applicable"

That will usually lead to some buying opportunities.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

This summary from the response.

"Carnegie has announced to the ASX significant recent progress on its flagship Perth Wave Energy Project which when operating will be a world first demonstration of both power and freshwater production from wave energy. This recent progress includes:
● securing an additional $2.7m in Government grant funding
● placing 9 of 10 major supplier contracts
● receiving $852,511 in Government grant payments
As a result, there has also been reference to Carnegie’s Perth Project in the media (The Australian, The Herald Sun, The Albany Advertiser etc) and by broking houses, including Paterson’s Securities placing a buy recommendation."

 

[groundhog]

Re: CWE - Carnegie Wave Energy

Speeding Ticket
and usual reply "No" and "Not applicable"

That will usually lead to some buying opportunities.

How true.

Closed at 4.9 cents, what is your take on breaking through 5 cents and beyond?

Cheers

 

[pixel]

Re: CWE - Carnegie Wave Energy

How true.

Closed at 4.9 cents, what is your take on breaking through 5 cents and beyond?

Cheers

I thought they might be fully priced by now, considering the triangle breakout 2 weeks ago.
Had to take the day off today, so I missed today's Marubozu candle. Quite likely, we'll se 5c+ as early as tomorrow.

 

[pixel]

Re: CWE - Carnegie Wave Energy

There you go:

 

[groundhog]

Re: CWE - Carnegie Wave Energy

What are the charts telling you this week Pixel? I thought it was a telling week, one in which I expected a withdrawal below 5 cents. It hasn't happened so far, which I find encouraging. FWIW I reckon the chart looks pretty damn good and promising to look even better when the announcements start to flow.

 

[pixel]

Re: CWE - Carnegie Wave Energy

What are the charts telling you this week Pixel? I thought it was a telling week, one in which I expected a withdrawal below 5 cents. It hasn't happened so far, which I find encouraging. FWIW I reckon the chart looks pretty damn good and promising to look even better when the announcements start to flow.

The weekly chart suggests some resistance of sorts; that's why I have taken part profit (at average 5.4c) when doubts appeared about further progress.



It is however possible that we see further rises to the next two Fibonacci levels (approximating a double bottom close enough to the zero-to-100% range shown). Therefore I only sold about half. May even buy them back.

PS: I just received an invitation to

Join Carnegie Wave Energy’s CEO, Dr Michael Ottaviano in Brisbane, Sydney, Melbourne & Perth, where he will provide an update on the Perth Wave Energy Project as it enters construction phase. Venues have a limited capacity, so please RSVP as soon as possible.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

It would be nice to see it close at 5.4 cents or higher, it looks every chance of doing that. I look forward to next months roadshow presentation in Brisbane. I have been hoping something like this would happen.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

Up 14% in this mornings trading, does not appear to want to stay in the sixes for long. I am wondering what is driving this momentum.

 

[pixel]

Re: CWE - Carnegie Wave Energy

Up 14% in this mornings trading, does not appear to want to stay in the sixes for long. I am wondering what is driving this momentum.

That's hard to tell; the enthusiasm of early buying looked more like buy some rumour, which I took as an invitration for a quick swing trade. Sold out at 6.2, back in the buying queue at loawer levels.

 

[groundhog]

Re: CWE - Carnegie Wave Energy

That's hard to tell; the enthusiasm of early buying looked more like buy some rumour, which I took as an invitration for a quick swing trade. Sold out at 6.2, back in the buying queue at loawer levels.

View attachment 54036

You will have had a good day if it gets back to last Fridays closing price.