CNM carnegie corporation limited

quarterly report

  1. 1,592 Posts.
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    So that's it. They dont expect to get the $17 mill (fairly obvious) but at the current rate of cash burn they wont see out 2 quarters.

    Makes me feel mean. i almost feel sorry for them (me).

    And we should assume there's only 2 CETO units in the water and they're only just designing (not manufacturing) the CETO III, so I presume all of that cost is in front of us as well.

    Bugger. I always wondered how the WA Watercorp was going to justify giving us the contract for Binningup without having a CETO III operating. But i consoled myself thinking they'd have an array of 3 x 3 CETO II units operating by November and presumed that would be enough to get them over the line. From what i can tell we've got two in the water, and we're still working out how to make them better. Maybe that's a bit harsh, but i'm not in the most accomodating mood.

    What are our chances of Binningup? Who knows, but i'm less confident that's for sure. Bugger again.

    Any thoughts?

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