Finally give up, page-91

In refernce to my post earlier regarding shareholdings of major holders I actually took 5 minutes & dug up a significant shareholder notice showing MO sold 4.79 million shares on 19/01/17 worth $320,000.00 at 6.7 cents.....

This was "5 seconds" after the Lend Lease partnership was announced on 17/12/16 only 1 month earlier........

"The agreement will see EMC and Lendlease’s Services business work together for an initial period of three years, and will bring together EMC’s proven experience in the design, construction and operation of microgrids, commercial scale solar projects and energy storage systems, with Lendlease’s skills and experience in the construction and maintenance of power distribution and generation assets."

2 years is almost up, has Lend Lease brought anything of substance to the table?

Revenue is one thing and NPAT is another.
Promise of revenue within certain time frames has been continually being spuiked in Roadshows and announcements.

"Carnegie’s Chief Executive Officer, Dr Michael Ottaviano said: “This is the next step in the evolution of Carnegie Clean Energy. The Tier 1 capabilities of the EMC Lendlease joint venture, combined with the design, development and financing capabilities of Carnegie, provide us with a clear point of difference in the rapidly emerging utility solar market in Australia. Carnegie is planning on replicating this approach across Australia.
Construction for the Northam Project is expected to start in mid-2017 with project commissioning expected by the end of 2017." .....yeh right!

The following out of the money (currently) options also makes interesting reading :

Number and +class of all +securities not quoted on ASX
(including the +securities in section 2 if applicable)
43,663,014 Options 03.07.17 @ 7.3c
40,000,000 Options 24.11.18 @ 6.5c
20,100,000 Options 09.07.18 @ 5.4c
3,650 Convertible Notes with a face value of $1,000 each and a conversion price of $0.038

"Energy Made Clean (EMC) Managing Director, John Davidson, was appointed to the Carnegie Board of Directors on 16 February.
The appointment of Mr Davidson as Executive Director followed the acquisition of EMC by Carnegie in December 2016.
Mr Davidson brings to the Board more than 30 years’ experience leading major strategic business initiatives and business transformation in a diverse range of industries, particularly the renewable energy and technology sectors."

"Key remaining conditions precedent for completion of the transaction include Tag completing a $4m capital raise and the approval of both Carnegie and Tag shareholders. Further details of the transaction will be contained in the notice of meeting to be dispatched to shareholders shortly. The transaction is currently expected to complete around the end of September 2018."

ASX ANNOUNCEMENT
30 August 2018
Preliminary Financial Report

"Separately, the EMC business recorded a pre-consolidation operating loss of $7 million on growing revenues of $15 million ($10 million H2 2018 versus $5 million H1 2018).
The take up of utility renewable energy systems in Western Australia and off-grid nationally has been slower than was anticipated at the time of the EMC acquisition, and system pricing has been more competitive. Separately, corporate consolidation in the off-grid and fringe of grid sector is underway and it will be increasingly difficult for small companies to compete."

I say WOW...."slower than anticipated"....or hardly moving & "system pricing" has been more competitive.....

Does this mean to win a contract you need to loose money hand over fist perhaps to get a foot in the door?

Many of use were told by MO that CCE are really, really, really clever at what they do...I hope they prove to be..... but it is without me??????