Having sold TGR shares a while ago, I kept it in my watchlist just in case. My comment is that I would advise cautious and focus on the facts, not on the catchy phrases of recent publications. And the facts are as follows:
1. Not too much was said on this forum about 1H results. The revenue is down, the profit is much below the 1H 2015 level.
2.18 months has passed since the acquisition of the De Costi group - no visible results of this move.
3. There will be circa 14% extra shares on the market, so the value of the company will be considerably diluted. Will that be offset by quick increase in profits? Do your own research but I am not convinced.
4. I had been keeping, and increasing my holding because I enjoyed TGR's vision of expanding into seafood. There were numerous market updates, presentations and announcements over the last two years painting a picture of TGR becoming a global leader in salmon and seafood. Recent movements of the company appear to completely ignore the seafood strategy. Whilst I acknowledge that many may find the focus on salmon appealing in the current market condition, for me this is a matter of trust in what the company conveys to us through their publications.
5. Careful examination of what they intend to do with the extra $100 mln does not deliver convincing results. Grow bigger fish? Mitigate wild life impact? Prepare new site? Please. These should be their core operations, harvesting money from the market should be pursued for more significant projects.
For me the value of the company is now somewhere around 4.20.
Good luck anyway, and wish me luck too - am trying to catch the falling knife at RFG.
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