libs or labor, page-30

Tawnyport,

I'm not completely sure what you mean in relation to the announcement, but if you're asking if they have actually announced a $450 mill development - definitely not.

If they had announced it, i wouldnt be suggesting buying because the price would already reflect that.

If you are asking whether the company has ever said they will announce a site for their $450 mill "proposal" before the end of the end of the year - yep, oodles of times (it's littered throughout the media guff on their website, although some of those articles havent worked since they gave their website a makeover). If you want to hear it from the horse's mouth, listen to the last minute of the most recent radio interview from the 15th Oct where the MD says they'll choose a site before the end of the year:

http://www.carnegiecorp.com.au/index.php?url=/media/2007/radio

They've repeated that deadline so many times, in reference to a choice between 4 or 5 possible sites in different states that you have to think they are really are going to come through with the goods or alternatively they're trying to play each of the states off against each other by imposing a deadline they have to commit by, or lose out to another state.

That's why my last post placed all its emphasis on what the govts say - we know what CNM wants and what they're asking for - the question is to what extent the govts will endorse the proposal at this stage.

I'm repeating myself here from earlier posts (i apologise to those I've bored before) but the the libs have released some pretty nice guff about the potential first site (and yes, i noticed Rudd mentioned wave power - FINALLY, thank you!!). Have a look at:

http://www.liberal.org.au/about/documents/EmergingRenewableEnergy.pdf

That shows you it's gone beyond the level of snakeoilsman spruiking - people are taking them and their proposal seriously. It's also worth reading that document in conjuction with this submission from mid 2007:

http://www.aph.gov.au/house/committee/isr/renewables/submissions/sub104.pdf

The way i read it all, they dont want to waste time waiting for their commercialisation to be completed before they organise their first major site. While they are finalising CETO II & III (throughout 2008), they also want to be working on their first site, getting all the neccesary regulatory approvals, feasability studies and all the other guff (probably environmental impact studies though i've not read that anywhere) so they can hit the ground running in 2009. But yes, i've glued a lot of this together from lots of different sources, so it's not gospel.

I hope this helps - unless you post back with a question tonight i'll be out of commission for a few days.