Australian (ASX) Stock Market Forum

CNM - Carnegie Corporation

Status
Not open for further replies.
Announcement out today (16/10/07)

CETO Project Update – Successful Sea Trials

"... results of initial in-sea trials of its CETO II wave energy technology show near perfect correlation with results predicted by CETO computational models, confirming its design and clearing the way for deployment of the first commercial CETO II units within weeks."

----

This is great news for Carnegie, I am very excited by this companies future. Fingers crossed their deep sea trials in '08 go to plan, but is looking very promising as all test to date have been outstanding.
 
Ugh......

I CANNOT believe I sold off 90% after the offering to free up funds (expecting it to hang around 12c) and 100% missed out on these gains. 52%... I feel ill. ;) Bleh. oh well i'll be going for the max in the offering.. like every other mug.. bet we all get 1000 each. bleh.
 
Announcement out today:

Prime Minister Pledges $5 Million Grant to Carnegie

Carnegie Corporation Ltd (ASX: CNM) is pleased to announce that Prime Minister John Howard has pledged a $5 million Renewable Energy Development Initiative grant to Carnegie for the final development phase of its unique CETO wave energy technology.

Share price currently up 20% to 21c. Great news for Carnegie.
Sold my holdings today at 22.5c, picking up 50,000 in the bonus issue at 10c each. :D:D
 
My shares from the bonus issue have came through today, CNM down to 16.5c today, looking like a few investors have cashed in their placement.

Announcement today (09/11/07):

Carnegie Share Issue

Carnegie is pleased to confirm the issuing of 151.4 million shares as part of its recently announced capital raising. 100 million shares have been issued as part of the private placement to sophisticated shareholders and 51.4 million shares have been issued as part of the share purchase plan.

Now the CETO technology can be completed, we are at full steam ahead boys!!
 
Just returned from the AGM today, some interesting things mentioned.

  • $2billion pledged for renewable energy under labour government. Carnegie going for $50million, which will be available mid next year in the new budget.
  • Under Rudd government, labour plans to have 20% all energy renewable.
  • 2 hectare field of 300 pumps will power 300 households, 50MW.
  • Alan mentioned that he values the company fair value of $1b market cap.
  • Michael hinted at the idea of another project is on the cards and has not been released yet.
  • CNM have spoken to investment funds, and seem very interested in CNM.

Im very excited for Carnegies future.

Cheers
 
nice :) thanks for the update, it's almost a pity it's not really faltering atm with the rest of the market to allow us to accrue more.. I was pretty happy abot the labor/greens win for precisely this reason.. there should be a lot bigger focus on renewables now.
 
cheers for feedback. The 1b market cap sounds interesting and would need some big investment funds to start taking positions I guess. Wont happen until at least first commercial deal is signed, I imagine in SA.

the new project sounds interesting also - wonder what type of renewable it is?
 
Michael didnt say anything specific on the new project, just merely hinted that something was on the cards.
Michael also mentioned that on the road show over east, they'd spoken to a number of large investment fund managers that showed alot of interest.

CETO is really the stand out wave tech going forward IMO.
 
Very good volume today resulting in a nice jump in the share price. No announcement, I am wondering if something knows something ? =]
 
Very good volume today resulting in a nice jump in the share price. No announcement, I am wondering if something knows something ? =]

I've been waiting for this for a while. Looks to be purely technical.

Gave it a brief run down in the blog. VVVV
 
Nice volume being traded and SP has broken 20c resistance. The major test now is where she will close today.
Chart attached and looking strong.
Possibly with Rudd / ALP ratifying Keyoto explains the recent action Carnegie is receiving.
 

Attachments

  • CNM.gif
    CNM.gif
    17.2 KB · Views: 158
Well, CNM seems to be breaking higher .... up to 25.5c today with strong buyer support.

Cheers,

:)

AJ

PS: OOPS! ..up she goes again to 27c.......
 
How much am I loving this stock? The guys that kept their placements are laughing all the way to the bank. I doubt 27c will hold for long without news though.
 
What a very warm goodmorning this is!
However this is truely nuts, what is going on!? no news and the SP is going psycho, very nice day indeed, I hope she holds as I am not selling this one any time soon.
Cheers boys its going to be a nice ride!
 
What a very warm goodmorning this is!
However this is truely nuts, what is going on!? no news and the SP is going psycho, very nice day indeed, I hope she holds as I am not selling this one any time soon.
Cheers boys its going to be a nice ride!


Definately, i'm hoping this is one of those things you look back on in ten years and go - "can you believe I bought this at 10c and helped finance part of the solution to Australia's water shortages?" it's hard not to fall for a stock with a story as good as this even though I continually remind myself to stay objective.
 
Guys, this is effing amazing. For years my family said I was nuts accumulating this stock at 1cent. It is such an awesome ride and guess whom is now knocking on the door asking for some money.

I reckon still a ways to go. This stock is just geting started. I am looking at a 100 bagger.

Hopefully some real good news to come soon to push the momentum along.
 
Guys, this is effing amazing. For years my family said I was nuts accumulating this stock at 1cent. It is such an awesome ride and guess whom is now knocking on the door asking for some money.

I reckon still a ways to go. This stock is just geting started. I am looking at a 100 bagger.

Hopefully some real good news to come soon to push the momentum along.

Awww mate, you're going to clean up!!
It will be a 100 bagger in time no doubt for you my friend, are we talking millionare? - that would be nice=]
This is a good little one for me, i kind of put myself out earlier this year to load up on this stock quite early 9-14c and then 10c with the placement.
But seriously, good for you mate i am happy for you!!
 
While its nice to see you guys making cash :)

Can you please provide some evidence as to why you think this stock will ever be worth $1? As that is 5 times the current price which is a huge call really.

thanks
 
The chairman stated at the AGM that he beleives the co is worth market cap $1bil which equates to about $2 per share, i think $1 is a fair call considering the current moves to combat global warming. The technology is so close to being commercial ready and basically we're just waiting for the first site to be released and some much needed publicity and away we go IMO.
DYOR mate its all there.
 
Just out of interest, when's the last time you heard a Company Chairman or Director come out and say the company was worth significantly less than their current market capitalisation?
 
Status
Not open for further replies.
Top