I'm not hugely excited about the proposed aquaculture farm. Its around 10% of the capacity of Lantene, so even when fully developed and running at max capacity it will only make a marginal difference to revenues and profit (and since its outdoor, I'm assuming it will be a seasonable operation anyway)
The Green Aqua JV was more promising. The market seemed to agree because our SP almost doubled when that deal was made. Since then, I can't find any reference to it on our website or the website of Blue Aqua (Our proposed JV partner). It wasn't mentioned in the preliminary financial statements. The company has refrained from confirming the project remains in place. And the Singapore regulatory has cancelled the JV company registration.
Regardless of all that, the Company indicated it would spend millions of dollars of developing the sea grapes business. The proposed aquafarm won't cost anywhere near that much. So where is the rest of the money going? Company has been sitting on it for 6 months now.
(20min delay)