Ann: Business Update, page-5

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Khao

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04/12/24

16:12

Post #: 76916819
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Originally posted by Little Reg: ↑

Did some digging as I'm frustrated with this and the same thing appearing to happen over and over. Now, I've got a bit of a biology background, but not in nutrition, but this paragraph I found below back on 29/8/23 report seems interesting:

In FY23 Clean Seas ran a successful trial to substitute the fish oil in its diet with sustainably sourced algal oil. In this trial, up to 100% of the fish oil in the diet was replaced with algal oil without materially impacting the heath or performance of the Kingfish. As a result of this trial, algal oil has now been incorporated into Clean Seas production diet, with the expectation that this will evolve into more sustainable diets in the future.Seems the timing of the fish having much higher mortality rates is now a year on from Cleanseas changing the diets again. Are there no people at Cleanseas anymore that were around back when Skretting sent poor diets ~15 years ago and subsequently Cleanseas settled out a payment circa $20million? Seems that money has been spent fattening the pockets of the Executive team and CEO and not on creating a sensible diet that the fish can thrive on.

The waters are warming up for the South Aussie summer, so I would think the mortality rate will exponentially take off even more so soon. Such a sad state of affairs for this company.

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Tempted to speculate. However, cashflow is a financial covenant.

CSS Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
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Ann: Business Update, page-5

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Ann: Business Update, page-5

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