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CNM - Carnegie Corporation

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I'm thinking of throwing a few K at this just because it's a feel good environmental proposition.

Disregard whether it is economical, or not.

:confused:

ASX Announcement

29th August 2008

Wave Technology Progress Update

Carnegie Corporation Ltd (ASX: CNM) is pleased to announce that three CETO II pumps have been installed at their Wave Energy Research Facility at Fremantle, Western Australia. The units are fully instrumented and connected to the on-shore facilities which include a demonstration pelton wheel hydro-electric turbine. This is the first time that multiple CETO II pumps have been installed and operated together in an array format. The units are performing within their design specification.
 
kennas said:
I'm thinking of throwing a few K at this just because it's a feel good environmental proposition.

Disregard whether it is economical, or not.

:confused:

ASX Announcement

29th August 2008

Wave Technology Progress Update

Carnegie Corporation Ltd (ASX: CNM) is pleased to announce that three CETO II pumps have been installed at their Wave Energy Research Facility at Fremantle, Western Australia. The units are fully instrumented and connected to the on-shore facilities which include a demonstration pelton wheel hydro-electric turbine. This is the first time that multiple CETO II pumps have been installed and operated together in an array format. The units are performing within their design specification.
Click to expand...


Hi Kennas

Considering the next announcement on 2 Sept about EPA clearance did you ultimately throw some money on CNM?

What are your considered thoughts on CNM future short or long term ?

Regards
 
I also have some shares in CNM because I want to support some environmental business - and I think environmenatl choices make good business sense at the moment.

That said I am a little concerned of a State Govt Liberal victory. Anyone else got some thoughts on this?
 
Miner said:
This wave may not be necessary to have enough force to lift Carnegie share up against a down fall in market

Good environmental proposition that is fine but to make money they need to do more :confused:
Click to expand...

True, but it makes you feel all warm and fuzzy inside to know your doing something for the green squad.
 
has any1 heard anything RE: the trading halt..

good news bad news??

any1 have an idea how this will impact on the SP
 
Joey, Carnegies application for trading halt mentions an announcement re fundraising, we will know by tomorrow, but whether this will include further opportunity to buy in for us smaller shareholders or institutions we will have to wait and see..............
 
Carnegie's SP up 12.5% at moment after announcement today.

Wave energy developer Carnegie Corporation Limited (ASX: CNM) will, subject to
shareholder approval, acquire 100% of the intellectual property and global development
rights for the CETO Wave Energy Technology (“CETO Technology”) under the terms of a
binding Heads of Agreement (“HoA”) signed with Renewable Energy Holdings Plc (AIM:
REH).
Under the HoA, Carnegie will purchase the CETO Technology intellectual property rights,
REH's potential CETO project site pipeline and assume REH's rights and obligations under
its joint venture license agreement with EDF EN. In consideration for the acquisition,
Carnegie will issue 252 million fully paid shares to REH making REH Carnegie’s largest
shareholder with 35% ownership (“the Transaction”).
 
has a steady move up recently as per attached 1 yr chart ,

There was an article about them on the weekend, think in the Sunday Telegraph, giving an analysis of their future revenue indicators compared to wind power alternatives.

Said wind was cheaper at this time

BTW, is their a Company with a similar technology, I think I heard of recently??
 

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The fact that REH will hold 35% would be worrying if i held. Possible reverse takeover happening? Perhaps im just paranoid...
 
More news out this morning.I am a holder of CNM stock.

International Government Grants & Site Update
• $7m in French & Canadian Government Grants awarded
• Investigative permit awarded in Canada
• Updates on Reunion Island, Bermuda, Galway & Vancouver sites
Wave Energy Developer Carnegie Corporation Limited (ASX: CNM) is pleased to
provide the following update on the Northern Hemisphere wave project site activity
that it will acquire through its purchase of the CETO intellectual property and global
development rights from Renewable Energy Holdings Plc, specifically:
Reunion Island, France:
Reunion Island, an overseas French territory in the Indian Ocean, has announced the
award of €3M (AU$5.16 million) of French Government funding for a research and
development project, to be led by CETO Joint Venture licensee EDF EN, to investigate
the potential for the CETO wave energy technology on Reunion. The R&D project will
consider any adaptation and optimisation of the technology that may be necessary for
Reunion and the feasibility of a demonstration project. Final contractual arrangements
for €3M of funding are currently being negotiated and further details will be provided
once the agreements are finalised.
Vancouver Island, British Columbia, Canada:
Pacific Coastal Wave Energy Corporation (“Pacific Coastal”), a development company
owned 95% by Renewable Energy Holdings Plc and 5% by local energy technology
company, Global Energy Horizons Corporation (GEH), has been investigating the
potential for CETO wave energy off the west coast of Vancouver Island in British
Columbia, Canada. Pacific Coastal was granted an Investigative Permit (“Permit”) by
British Columbia’s Ministry of Agriculture and Lands to conduct a wave energy
investigation over an area of approximately 475 hectares off Ucluelet, Vancouver Island.
In April 2009, Pacific Coastal was awarded CAD$2m through British Columbia’s
Innovative Clean Energy (ICE) fund to develop a wave energy project off Ucluelet.
County Galway, Republic of Ireland:
The potential for commercial scale demonstration of the CETO technology is being
investigated at Sustainable Energy Ireland’s (SEI) wave energy test sites located off
Spiddal in County Galway and Belmullet in County Galway. Ocean energy initiative
funding of €26m (AU$44.65 million) is available for research and a feed-in tariff of
€220/MWh (AU$378/MWh) for wave and tidal power has been established. Ireland has a
renewable energy target of 33% by 2020, with an aim of 500MW of installed ocean
energy by 2020 with an interim target of 75MW by 2012. To facilitate this development,
ocean energy is currently given priority for grid access.
 
Any movement with Carnegie guys?

The name has changed now and it seems we are just waiting for an announcement on the location of the test station?

This system has so much potential, imagine desal plants watering every major city (apart from Brisbane) in a few years time... with a CETO plant piggy backed of course!

Interesting reading about the RO pumps they have bought here:
http://www.calder.ch/images/products/CalderERTCatalogue.pdf
 
Seems they didn't get the federal grant they thought they were sure to get. Price tanked to 15c. They still have the western Australia grant and will continue to hit the french for more funds when needed.

I do not hold, but at these price lvls the project looks enticing. I like the project's idea, and at the moment don't have any renewable energy stock in my portfolio so I might get on board to prance around with my green thumb in the air.
 
This thread should be renamed as CWE
The stock code has been changed to CWE from CNM with company name as Carnegie Wave Energy. Ironically with wave intriduced the share price still diving under wave adn look at the volume from 6 November. As if some one is pouring water on hot fire.

:banghead:

Code Last % Chg Bid Offer Open High Low Vol
CWE 0.135 -6.9% 0.135 0.145 0.145 0.145 0.135 1,999,832


10 Nov 2009 0.145 -3.33% 0.150 0.140 2,611,616
09 Nov 2009 0.150 -6.25% 0.160 0.145 3,170,885
06 Nov 2009 0.160 -20% 0.205 0.145 9,686,575
05 Nov 2009 0.200 2.56% 0.200 0.190 384,940
04 Nov 2009 0.195 -2.5% 0.200 0.190 869,016
 
Interesting volume today. 6M + and hardly any X-trades, all on market buying. Someone is building up a nest of these. Oversold lvls? I think so.

Gonna watch the volume on these over the coming month and see if Santa has something to do with this share.
 
Trading Halt about a financing deal, Hmm, the only financing deal i thought was going on was the $12M WA grant.

Anyone got a sniff of what is to be expected on friday?
 
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