CNM seem to be making steady progress. No doubt this ann too...

CNM seem to be making steady progress. No doubt this ann too late in the day to address sagging price.

ASX Announcement
5th August 2008
Commercial Site Assessment Update
Carnegie Corporation has been advised that it will receive an exclusive wave energy
license and option to lease at a site off Albany in Western Australian from the State
Government for the purposes of investigating and developing a commercial wave farm.
The area is situated offshore directly adjacent to the Albany Wind Farm site over which
the City of Albany recently passed a motion to grant Carnegie exclusive access for its
onshore feasibility study.
As previously announced, Albany is one of a number of sites that Carnegie is assessing
nationally and internationally. The granting of a license and option to lease provides Carnegie
the security to move forward with its site investigation and design evaluation activities,
including environmental assessments and community and other stakeholder consultations.
This is a significant step forward in Carnegie developing its planned commercial
demonstration 50MW zero-emission wave energy facility.