Up 18% with a solid marubozu candle as buying took control
$26m revenue and $3.4m npat
Pe of 12, 18.5c per share revenue, 1.52 price to sales ratio, 0.22c price to book, 0.39c per share on assets, 140m shares
Largest holder Sea Harvest from South Africa on the JSE owns 56% at 0.35c
It's prawns are from shark bay in WA and are not affected by white spot disease
Sea Harvest provides all of the company's hake
Without doubt going to make acquisitions to grow as fishing division from the Craig Mostyn group( a large diversified Australian protein business) is a major holder and is maxed out for growth
Owns 10 of the 18 fishing licences in shark bay in the books at $1.5m each and the latest licences sell for $4.5m each
Has its own modern fleet of trawlers 11 in total operating efficiently with its scallop quota now going from 9 tonnes to 55
MTM Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
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Well what can I say?
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