The issue really is are they creating shareholder value, on a per share basis. On 1/5/2017, the equivalent share price was 72c/share. The quarterly released at that time gave biomass 2767T, with shares on issue 68.7 million, so if you owned 10000 shares you would have about 402kg of fish swimming around in ponds with your name on them.
Share price is now 96c - it has been higher I know but it remains significantly improved from 2 years ago. Biomass 4126T, 83.4mill shares on issue, so your 10000 shares even after CR dilution from late 2017 now have your name on 494kg of fish. You also have a share in a new processing facility, automation, new freezing technology and increased farm infrastructure to support increased biomass.
2 years ago the net cash position was positive 2.313 mill, now neg 3.137mill so about 5.4 million difference or $540 for your 10000 shares. The biomass increase and investment in infrastructure is definitely worth many times more than $5million . So overall they have definitely gone forward, with a positive strategy that is paying off, and as long as there are no unexpected expenses or stock losses, I am confident the value per share and biomass will continue to compound. This is not a get rich quick scheme, but that's why I'm in it, and I think its value buying at the moment. I bought another 10000 shares yesterday to add to my already significant holding.
CSS Price at posting:
98.0¢ Sentiment: Buy Disclosure: Held
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