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Carnegie - One to watch

  1. rob1

    358 Posts.

    Carnegie look like very good value at current prices. They are highly leveraged to Pursuit Dynamics (the company who bought the marine drive IP). The marine drive is progressing ahead of schedule and below budget. It is likely that a licensing agreement will be signed before the end of 2002.

    A recent brokers report on Pursuit is very bullish and has a target of 59p by the end of the year. Pursuit are currently trading at 26p. If Carnegie had no other business or investments of its own its share in Pursuit would value CNM at 5c (currently 1.6c).

    With the Gambian project coming along and deals in the offing regarding the personal watercraft and wave energy project, Carnegie is well positioned for a huge year.

    Many of you may be sceptical given the poor performance of Carnegie's share price. However, this is to be expected from a high technology developer such as CNM in its early stages. Carnegie's projects are now progressing to the commercialisation phase which should result in a substantial re-rating of the stock.

    Check out the website: www.carnegiecorp.com.au


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