Australia's Carnegie Clean Energy hits over 3-wk high on becoming debt free

Carnegie Clean Energy

24/03/2021 03:20

** Shares of Carnegie Clean Energy  CCE.AX  rise as much as
25% to A$0.008, their highest since March 2
    ** Wave energy technology developer says it is debt free
following the conversion of A$1.075 mln ($816,785.00) in
convertible notes  urn:newsml:reuters.com:*:nASX4lFDZl
    ** "With zero debt, approximately $3.5 million in cash
reserves. ...the Company is in excellent shape and we are
looking forward to reporting progress to shareholders over the
remainder of 2021" - Chairman Terry Stinson
    ** Stock posts its biggest intraday percentage gain since
March 12
    ** As of last close, stock had trebled in value this year
    
    


($1 = 1.3161 Australian dollars)

 (Reporting by Nikhil Subba in Bengaluru)
 ((Nikhil.Subba.thomsonreuters.com@reuters.net))