TGR (ASX) Ann: 2020 AGM Presentation

I bought Tassal shares for the first time last week. Unfortunately, my small retail parcel wasn't enough to send the share price into orbit! I'm already five cents per share behind on my purchase ($3.56). This is the smallest company I've ever bought shares in.

Before I bought TGR, I read every post on this page going back about nine months to educate myself on this company and the industry. I would like to thank everyone here for such a knowlegeable and civil discussion where oposing opinions are respectfully accepted. I have learnt a lot about the company, its operations and financial situation on this board over the past few days. I'd particularly like to thank Hopeful, McQuade and Dabozza. I've really enjoyed reading your posts and gained a lot from what you've written.

The fundamentals, growth, track record and dividend are all very good. I am surprised at how low the P/E is; and the consistent five percent dividend is very appealing. It seems the company sells mostly within Australia, with some sales abroad, but isn't heavily exposed to overseas markets. I would be interested in knowing how much of the twenty-or-so percent of overseas sales go to Mainland China. That information escapes me. I was encouraged by the latest Goldman Sachs analyst report and prawn revenue due to show-up over the next couple of years. Can anyone advise me of how much experience TGR has in prawn farming? Has it been doing this for many years (in addition to salmon production in Tasmania) or is this venture in northern Queensland relatively new?

I can't understand why TGR is almost 8.5% shorted. In the absence of major, unannounced news, my uninformed opinion would be a) a rising $AU making exports more expensive; b) the virus making exports more expensive and challenging; c) China's aggressive trade moves supressing the price of seafood in Australia. I was reading in the newspaper this morning that lobster is $50 per kilogram cheaper this year due to increased supply domestically -- because that produce isn't being shipped to China; and it's flooding the local market. Maybe the shorters are of the opinion local sales revenue will be lower this year, despite a rise in domestic consumption of quality seafood. I don't know...it surely wouldn't account for the 8.48% short position as the company seems very reasonably priced.

Thanks again to all for the discussion here.