After last announcement I decided to take a big loss & exit just above 5c.
I had been buying & buying when it went down from last year.
The announcement made clear that they are struggling to sell them in Asia, hence the write off on fish valuation.
They produce plenty, but do not sell enough.
The year sales estimate was maintained at 2000 tonnes, but after 5 months they sold 570 tonnes, and still keep the estimate in place?
Unrealistic and similar to last year.
The main issue now is that they will exceed 20M in sales, and loose the R&D refund.
With 2000 tonnes sold there would not be an issue with cashflow & funds, with 1600 tonnes sold, there will be no R & D refund, and the company will run out of money.
Good luck to all holders with next announcement, I hope it bounces back hard, I do love this company, but just do not see it happen soon. Hopefully exports are now full steam ahead
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