Tuned in to the online meeting then read the transcript of the meeting. Several items caught my attention first the explanation of the dispute with Canstruct was well laid out and the reasoning for each step explained, It appeared that all decisions made were in the interest of shareholders (particually the big holders) and as such we have to wait for the final decision of the court after all the counter claims have been exhausted.
Then next was the report on productivity for the Queensland farms 30% up on last year which justified the work carried out earlier and funded the ongoing works for the infrastructure sections of PSD.
Now there was the comments about investment, existing exports with clients wanting more prawns and at a increased price. This could be the same party mentioned as the investor who wants 100 tons per month which is just under our current annual production, but within the targeted output of the redesigned ponds for PSD.
As a long-term holder, I have had my frustrations with the troubles and share price collapse over the last few years but I believe there is progress here and a turnaround over the next couple of years which will be to our benefit, and as such I have been a buyer in recent months.
SFG Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
