Well, their biggest customer - China had banned wildlife food trade including abalone after Wuhan virus outbreak. It is unclear if their "farmed abalone" is categorized as farmed or wild grown. When I was in WA reading their Prospectus when they go public, I vaguely remember that one of their reason of raising fund was to build tourism facility around their HQ, to me it reveals poor self-discipline and sounded like an attempt to splash the cash on luxurious toys.
Ann: Quarterly Update and Appendix 4C, page-4
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