Carnegie Corporation Ltd
1
December 2006 Quarterly Activity Report
Carnegie Corporation Ltd
ACN 009 237 736
REPORT TO SHAREHOLDERS
FOR THE QUARTER ENDED 31st DECEMBER 2006
This report summarises the activities of Carnegie Corporation Ltd (“Carnegie” or “the
Company”) during the quarter ended 31st December 2006.
HIGHLIGHTS
• Successful completion of AUD $1 million placement to fund the Cleaner Coal Power
technology development and for ongoing capital purposes.
• Raising of funds allowed the development of the CCP technology to begin in earnest
ACTIVITIES SUMMARY
During the Quarter, Carnegie has continued to focus its efforts on the rapidly growing clean
energy sector. In particular, the Company successfully completed a capital raising the
proceeds of which will be used primarily to fund the initial development of its Cleaner Coal
Power technology.
4.1 Fund Raising
On December 14th, 2006, the Company announced the successful completion of a AUD $1
million placement to fund the Cleaner Coal Power technology development and for ongoing
capital purposes. These funds were raised pursuant to the “excluded offer” provisions
(Section 708) of the Corporations Act and involved the issue of 37,000,000 fully paid shares
at an issue price of 2.8 cents per share, raising $1,036,000.
The fund raising activity involved a road show of the Company and the CCP Technology to
the financial community and prospective investors by CEO Michael Ottaviano in Perth,
Sydney and Melbourne. The interest garnered during this roadshow was confirmed through
the successful completion of the share placement and forms a key initial step in lifting the
profile of the Company.
4.2
Development of CCP technology
The raising of funds via the share issue allowed the development of the Cleaner Coal Power
project to begin in earnest just prior to the end of the Quarter. The initial milestone is the
development of a dynamic computerized model of the boiler and superheater. T