Yeah. It wouldn't be so bad if they didn't keep talking about Mauritius in about 2 years worth of announcements.
What they did was float a device that measured the waves/swell and write a report for the Mauritius government on their renewable options. They got paid a decent amount for writing a report, but in terms of their cash burn it was nothing, and there was never any guarantee that any more work would come from it. The problem is they mentioned it for so long like it was a major achievement that it feels like we lost (again).
If we're talking about wave energy actually being used for meaningful power generation instead of grant absorbtion and shareholder sponging (GASS), there's none. Carnegie could be the only company with a commercial wave energy product right now if Ceto 5 went better than it did, but it didn't and they're not. And they just put it off by another 2-3 years.
I hope someone asks some meaningful and direct Ceto questions in the AGM, but confidence isn't very high. Happy clappers might rule the day again.
CCE Price at posting:
3.9¢ Sentiment: None Disclosure: Held
