yeah! this one has been doing well up until the end of the spp. The issue about holding fish back to increase size is very strange. It has never been mentioned before and certainly wasnt disclosed before spp. I just hope it isnt an excuse to hide poor sales or lower than expected demand for the smaller fish they based the business model on. I also note that they havent given us any indication of how much longer they plan to grow the fish. They have always claimed 9 months was just right. How much bigger do they get in 10, 11 or 12 months? Longer growth periods increases the working capital needed for this business.
Why would a CEO accept a bonus scheme linked to sales revenue when he was going hold back sales? Call me a cynic.
Also got to wonder whether the hype around WKL has made it a more attractive proposition at the moment which has resulted in some jumping off for better returns.
But taking them at their word, we must be in for a big jump in the first half of this year. If they truely sell more bigger fish, the tonnage and revenue in US pesos has got to be better. Just have to get the future A$ US peso exchange rate right- lol
AAQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
