They might be able to get by without a CR unless it's for something specific. (As far as I can see, pls point out if I've made a mistake), $1.2m in cash, $660k spend next quarter (down from $1.2m this quarter) with a fair expectation of higher sales than this quarter ($320k). They should have enough time to ramp up production before money becomes an issue IMO.
Their second lot of ponds have been stocked for a while now (I'd have to go back and check the timing), and the strong vibe I have always gotten from management is that they just needed more capacity to give clients confidence that orders can be met in order to get the big orders.
Their business model is very light on for the need for capital. If they need to build another hatchery or something that might eat into the budget, though big ticket items like that would be pretty predictable I'd expect.
I was pretty chuffed with the quarterly activities. Maxim's gives us the possibility of a large, recurring order, and I noticed they mentioned Japan and the USA as well for the first time. We're out there, but as I've always said it is definitely a slow burner that will grow in a very linear way.
I'm not overly concerned about demand for our product (not as sure about price, but it's stable atm). The thing I am keeping my eye out for is an announcement or indication coming from the company that they have another farmer(s) interested in participating in the business model. To me, this company is limited only by the number of people they can find to go into a lease arrangement with them, and those leases are the source of future growth. Growth that is painfully lagged......several months to close the deal, several months for DA, several months to build, fill, stock etc. So the sooner we can sign up some more landowners the sooner we can factor in their capacity to future earnings
Very happy with how things are to date. Looking for the next announcement to tell us something about the insurance claim which will add an unknown something to the coffers.
GLTAH as usual
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Last
$1.06 |
Change
-0.040(3.64%) |
Mkt cap ! $114.4M | |||
| Open | High | Low | Value | Volume |
| $1.10 | $1.10 | $1.06 | $195.3K | 177.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4840 | $1.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.07 | 5000 | 1 |
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| Last trade - 11.12am 18/07/2025 (20 minute delay) ? |
| MCA (ASX) Chart |