We had two massive SPP very recently, so a third one is out of the question, no investors will back them up again after being so burnt from the last two, since they were both heavily discounted to the current share price at the time. Cash burn rate is amazing. We were meant to be transferring the fingerlings to sea cages by about now, so i cannot call this a 'success' at all, and if the tuna don't spawn again in March and even if they do and they die again, its all over IMHO. $23m in the bank, and if this next spawning isnt successful, we have to wait until the end of the year for another spawning season, which may bring our total cash under $10m...
For investors to give the company more cash, then the company has to show that they can do this whole process properly and there needs to be much less risk... The only way to do this is to have healthy big tuna swimming in the sea cages ready for commercialisation
CSS Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
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