CNM carnegie corporation limited

support at 3c, page-2

  1. 121 Posts.
    re: very solid support at 3c Agree Straycat. Support at 2.9/3c seems very solid.
    Apparently Macquaries have purchased about 2.6 million shares in the last two months so somebody is accumulating a large holding.(Can someone confirm this ?)
    With the Pdx shares currently at 1.62 pound the Carnegie value is worth $4 million just here.
    Cash is close to $3 million I believe so company is still trading at only liquid asset value.
    I read the latest Pacific Hydro update recently and it states that the Seapower trial is their only current non hydro/wind project so they obviously feel it has merit.(hence the backing and funding)
    Astron stated in their half yearly that they are hoping to produce 20000 tonnes zircon / 100000 tonnes Ilmenite a year from the Gambia mine (Carnegie earning 50% free carried) so another plus. Not sure of exact figures and grades being recovered and prices sold from Gambian Mine plus operational costs etc however I do believe that Zircon is selling for about $600 AUD a tonne and Ilmenite about $100 AUD a tonne (can someone confirm this also ?) so the mine is worth more then I originally thought (if I am correct ?)
    I suggest you check out a weekly chart. It broke a 4/5 year downtrend the other week and now looks fantastic.
    I also cannot see why 5c is a resistance and feel that its closer to 10c on a parrallel line. Daily charts look just as good I feel. Moving averages /macd/rsi etc all looking positive although I am certainly no charting expert.
    Seem very very cheap to me but time will tell.
    All the above are only my thoughts and opinions so as always check it out yourself all.
    Doh
 
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