Probably shouldn't use R&D and tax breaks in the P/E calculation...

Probably shouldn't use R&D and tax breaks in the P/E calculation but i believe the market will. The $3 doesn't really work in this situation as the surprise will come from the extra tonnage being above expectations. When they wrote the $3 it was with a farmgate price of 12.50.

When they wrote their initial estimations of tonnage they had a death rate of amost 40% and fish were only growing to 3 kilo.

We now have over 90% survival, 14.50 per kilo and fish growing to 4 kilo per.

I don't believe the management have suddenly reduced the number of fingerlings transferred to the ocean pens in expectation of using the new calculations IE. 90%+,14.50, 4 kilo. I'm sure they are still working off the old ones and transferring more fingerlings than required to the pens. Management seem to be under promising and over delivering at this stage.

When the last earnings were issued, the PE was around 3 times. I believe we will also have a surprise on the upside in Feb when the figures come out again. Summer is also the time when the bigger numbers hit the books.

Last December when i wrote on this forum that i believed there would be a 1.5 million profit a year earlier, inlcuding R&D and tax i took into account the above figures. I feel those assumptions used for calculation still stand. The big question for me is;

How many fingerlings were transferred to the ocean pens recently?

I figure this year will also be double last 3c per share. My guess is a share price of around 8 or 9 times that.