When i first looked at Tassal i got a bit spooked by Project Sea...

When i first looked at Tassal i got a bit spooked by Project Sea Dragon, but having looking into it, the nicest thing i can say is that they are very brave shareholders.
In their Market update on May 2015, that included the numbers below, they need to get to more than 17kt before they have a positive ROC.
And note the aggressive ramp up, adding 37kt between year two and three.
Meanwhile, they need another capital raise to finish their stage1a, which will get them 6kt, which doesnt give them a positive EBITDA, they are still losing money on their expansion.
And thats if their (remote) operation all goes to plan, and they havent demonstrated they can run their QLD prawn farm efficiently yet.
Even if it does go to plan, we are ahead of them right now with production and were EBITDA positive with prawns in H1.
If we get to our 20kt target it doesnt have to be the end of it either, if we have the cost advantage, its our call what to do.
For context, domestic demand is 60kt/pa iirc