more ponderings, page-2

Whilst there are many things that keep adding to the Seafarm story and keep my interest alive, like the continual achievement of smaller milestones and the backing of Nissui and the NT government, I am starting to become cautious in my optimism. It is apt that the project sits near the NT (Not Today, Not Tomorrow, Not Tuesday and Not Thursday) border and the WA (Wait Awhile) border.

I realise projects generally take longer and cost more than you want but from the latest weekend Australian article it appears that funding could be another 6mths away and first production is out another dry season to 2021. Financing has long been the last major hurdle and the goal posts keep shifting.

I dont know how financing something like this works but they have already been trying for quite some time. Although it does appear that they are after at least some of it from the NAIF. Are they having trouble securing finance? Have they left their charge too late with global head winds coming?

I have more SFG shares than I probabbly should and bought a few more on market at 9.0c. I didnt participate in the Share Purchase Plan Offer as a small protest. There was already quite some dilution with the $20m to the smart investors, $3m to Nissui, $3m-$12.2m to Avatar Finance and up to $4m for the ordinary share holder. Hopefully this $30m can get us to the next big announcement.