The improvement in profits was primarily due to an increase of $3,083,513 in fair value of the biomass and total weight to 211 tonnes, an increase of 80.4 tonnes in commercial grade abalone above 90 mm.
The value of the biomass reached $8,624,331 at the end of December 2018, compared to $5,887,560 at the end of June 2018, an increase of 46.5%.
Have a read of Note 8, abs are growing nicely very strong 2 years ahead for OGA as it ramps up sales.
Very high margin business now Abitats are deployed... $8m inventory and growing still 'renewable, sustainable" etc etc. As live sales improve so does ASP. $50-60 now. Retail live is $200 i think they(OGA) sell for $100kg(correct me if wrong) to the retailer.
Big reduction in costs... a strong result, if they did 70-80T this financial year I think thats a great result and with new facility from June inwards we are well above 100T next year. 181T above commercial grade now.
Some options targets for the back of your mind.
30c by Dec 2020, they cancelled some 26c options believing the minimum price should be 30c !
10m @ 39c Sep 21
2.5m @ 44 Sep 21
CEO still has 100T target by Nov 19 for 4m shares @ 20c
Ann: Half Yearly Report and Accounts, page-6
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