AAQ - AAQ Holdings

[Afterglow]

Australis Aquaculture Limited (AAQ) is involved in the production and marketing of barramundi. Fingerlings are sourced from Australia and transported to a US production facility for sale in the US market.

This is our first posting, we have small holdings in the following.
BLT
CMP
ERG
MUL
SNN

We are looking at AAQ and NXS as possibilities to add to the port.

Any contributions either about the stocks we hold or the ones we are thinking about would be greatly appreciated

[GreatPig]

Afterglow,

I don't know anything about any of them, but there's a large thread here on MUL at least.

As a matter of interest, why did you choose those particular stocks to hold? Is this a long term portfolio or are you planning on trading them shorter term?

Cheers,
GP

[brerwallabi]

Regarding AAQ I had never heard of them till I read your post. I just cant resist this though.
"They could be a bit fishy" LOL sorry about that.

[Bingo]

AAQ have been on my watch list since they floated in early August. They had an initial burst in price and have now settled.

I decided not to invest as I have memories of Tassal. I worry about natural risks such as disease and the business risk of competition from Asia. While I will stay away from investing in them it did seem that they had a good business model.

Bingo

[RichKid]

Hi there,

BTW, what was Tassal and what was the problem with them?

AAQ seems interesting but I don't know much about the business and haven't seen any analysis of it either so I'm staying away. Maybe once I see some price trends I'll buy in but it's not a priority (it seems to have stabilised around the current price). Sounds like a good business model though but I don't know enough about growth/earnings to comment.
RichKid

[Bingo]

Hi there,

BTW, what was Tassal and what was the problem with them?

RichKid

Tassal was a tasmanian atlantic salmon farmer. It did well for a number of years and then went into receivership. The receiver was managed by those same two Mark's who did the Ansett receivership. The receivers sold the business to a private group who subsequently refloated it around a year ago making a lot of money. Shareholders of the original Tassal got nothing.

You will find the new business listed as Tassal Group (TGR).

Bingo

[Afterglow]

AAQ up 2 cents or 4.4 % third rise in three days

[RichKid]

Tassal was a tasmanian atlantic salmon farmer. went into receivership. ... a private group who subsequently refloated it around a year ago making a lot of money. Shareholders of the original Tassal got nothing.

You will find the new business listed as Tassal Group (TGR).

Bingo


Thanks very much Bingo for the info.

Interesting how these things can go belly up. I like the fact that they don't waste money feeding the fish till they're huge (must cost a bit?) but instead get rid of them when they're little for good money. Also, they seem to be a competent, established business.

One risk I suppose is disease but Barra is certainly a great eating fish and it has that great Aussie image (for all those execs and businessmen who come from the US and Europe to fish here). Barramundi is also big dollars in terms of attracting tourists to Qld and the top end. I'll be keeping an eye on the stock for now as I may have missed most of the upside for the short term.

RichKid

[RichKid]

Australis Aquaculture Limited (AAQ) is involved in the production and marketing of barramundi. Fingerlings are sourced from Australia and transported to a US production facility for sale in the US market.

This is our first posting, we have small holdings in the following.
BLT
CMP
ERG
MUL
SNN

We are looking at AAQ and NXS as possibilities to add to the port.

Any contributions either about the stocks we hold or the ones we are thinking about would be greatly appreciated

Hi there!
There's a thread on Sonnett (SNN?) in this forum, I don't want to give investment advise so I can't comment on it in that vein.
CMP is Compumedics if I recall correctly- there was an article on it in Shares mag a few months back, I think it rose straight after that!!
Hope this helps.

RichKid

[tarnor]

AAQ - I've been watching this one since the float also.

Read some interesting comments on another board about the director and stock broking group handling the float.


I think AAQ was a StateOne Stockbroking offering. If this is the case, then my suggestion is to everyone is to be very careful. They have a reputation in the wider investment community of pumping stocks and then dumping them.

They are very active daytraders and will pump stocks to entice other traders. It will be interesting which firm has done the buying and selling today.


I never checked if state one was the actual group but its seemed to hold its price at any rate. I was more interested in other comments by people like


AAQ Chairman dont have a great track record...

Dr Alistair Cowden Chairman

Have a look as the mess he left behind at DYL and then ask yourself is AAQ a great investment ??

And




You're jokin me......

Alistair Cowden eh....this guy has a very bad track record. You are right with your concerns regarding this character. Lets have a look into his present and past performances as a Company Director of listed entities.

Deep Yellow ("DYL") - went into Administration under controversial circumstances. DOCA has been presented to creditors and accepted, however assets being offered for sale and listed shell being purchased by a vulture Firm. Existing shareholders will be caned as a result - obviously company will be restructed and more shares issued. Dilution will mean existing shareholders will be left with worthless shares.

Rox Resources ("RXL") - a company in which Cowden is MD. Asset ("Menzies" project) backdoor listed from DYL to RXL. The stock has not traded ever over issue price (20c IPO listed in April 2004). Market is concerned about the quality of management and assets. Trading at a heavy discount to IPO, currently at 12.5cents. Traded as low as 11cents.

Vulcan Resources ("VCN") - a blotched attempt to acquire an overseas asset. Company share price has been smashed. Company reputation has also suffered the same fate. Share price trading at 10cents from a 52 week high of 55cents. Price got belted to 7.5cents.

This is just some examples that I know about concerning this guy. To forum members out there, having a look at the past performance of this Director you should run a mile. It definitely does not provide any confidence for his management capabilities or his ability to deliver to add value through shareholder wealth. He just cannot adequalely run companies under his control, it is as simple as that!!

Other people thoughts appreciated.

Cheers Freakme



Best never to trust anyone but was a different angle then the aggressive optimism everyone elses seems to hold. I don't hold atm but am still curious

[RichKid]

Thanks for that Tarnor, much appreciated!

It's always good to have balance in these discussions. Obviously we'd have to check up on all the info before investing to see if it's accurate but since AAQ is not even near the top of my list for attractive trades I can't be bothered, but anyone who intends to buy AAQ would clearly want to do more homework on the comments mentioned earlier.
BTW, not sure if it's appropriate to ask, but what's the other board that freakme posted on? Thought it'll be good to have a browse through.

RichKid

[Afterglow]

Thanks for all the info and comments so far , I will continue to watch and investigate AAQ a little more before investing

[tarnor]

I hope its okay to answer that but it was on ****************** - lots of action on that board but be warned lots of one line ramping spam and manipulation, some occasional good posts tho. I only post here atm because the posters seem genuine and more civilised but I often dredge other boards for different opinions. Cheers

[RichKid]

Thanks Tarnor!
Much appreciated. I'd probably rely less on 'recommendation' type comments on those sites but would have to have a look just for the sake of it. That site sounds like it's big, a few people have remarked about it (similar to your comments).

I find AussieStockForum to be very relaxed and informative and as long as there's disclosure of holdings and balanced views (without any abusive or personal remarks) I'll keep this as my main one. (Thanks also to Joe for allowing us to discuss other forums and for being a great 'Boss'!). I rely on TA more than fundamentals so the chart is my main source of info. I also keep an eye on tipsheets (see the issues we've discussed in the tipsheets thread). But as I'm a newbie I still look for useful news & views. Your comments on AAQ was an eye opener!

RichKid

[nothingcreed]

I used to work at Australis's plant in the United States. It's a great company and they seem to be growing very quickly. Check out there website: www.australis.us. They have some nice news reports about what they have been doing lately.

[Dukey]

Hiya
have been following AAQ (and Cell Aqua CAQ?) for a while now - but not invested. Mainly interested bec. i think aquaculture (and barra) has a big future with natural fish stocks for some important species dwindling.

I realise this thread is close to dead - but maybe we can reveive it. :D

Nothingcreed - what do you think about the expansion plans of Australis. Are they realistic? They seem to have developed a healthy demand for Barra.
AND, it seems that MD mentioned in previous posts, is no longer associated - or at least no longer a director. Maybe thats a good thing!! ;)

Does anyone have any thoughts on AAQ (or CAQ) at this stage?? - The Price is up to around 45c with recent expansion plans etc.

[watsonc]

AAQ is featured in October's Money Magazine as a 'penny hopeful'.

"Why Buy - Clever marketing to US restaurants, a patented water filtration process, and a staged expansion process should support strong success for this monopoly."

Basically the article suggests that there is room for 'strong growth'.
After just 2 years - sales up 672%, net loss down about 1.4million, production capacities about to be expanded.

It does look to have potential! Any thoughts?

[Agentm]

i was in it for a while,, then got out,, think of it this way,, when you have all of your fish in one basket... literally,, then what if a disease gets in to the stock?? then the whole basket aint worth a cracker.. that concerned me..

they have potential,, the only conern i had was that they could only get so big on the size of their tanks,, then to suddenly grow larger and expand if baramundi becomes the next fish that everyone wants.. then they have a big job to expand quickly to meet demand.. so growth potential is limited in my viwe... but since i left i never have looked back,, even though i know the stock did go up a little..

[Vainglorious]

From the website:

"Australis imports, grows and sells Australian barramund" but the latest AR says they will be operating from a US-based hatchery in the future - goodbye marketing advantage.

"The company completed a highly successful IPO in August 2004, and its stock has been one of the 50 best performing new issues in Australia."

BS warning!! Clearly they think Americans don't know how small Australia's IPO market is.

And what is it with that ".us" domain? Typing in ".com" - which is what most people would do - takes you to a totally differant company. Clearly they didn't think that part of the branding strategy too far? http://www.australis.com/

And Australis is also the name of a perfume company.

I'm not saying the company won't be successful but why would they handicap themselves?

[Dukey]

Interesting about the web address and the perfume co. vaing. - Who knows why... maybe the .com site owners got there first and wanted squillions for the site name.

Agentm - (we meet again my friend :cool: - from the adi thread!!) - as far as disease goes - i think (thats 'think' - not know) that each tank is basically independent of the others - so that any disease should be able to be isolated quite well. And if they can ensure that the fingerlings are healthy - then they should be fine right through the grow-out phases - BUT - its worth researching their methods to verify.

If/when i get into AAQ it'll be more of a long term - feel-good/environmental thing. Cause fish stocks are declining everywhere and places like Japan - (where i am) and US & Europe are gonna need huge amounts of farmed fish to meet demand in coming years.

-Dukey (not holding yet - too busy with ADI & QGC)

[Dukey]

Hate to reply to myself!! :rolleyes:
but... new highs today for AAQ - just hit on 60c.
They've recently been granted an export license for Europe (from US) -
And also - have raised over 2M$ from a share placement which is to be pumped into the expansion plans.... So maybe these developments have kicked the sp along a little. Wish I'd got in at 35c :o

[Dukey]

Looks like I'm talking to myself here, but my fiance says I do that alot. I say she just doesn't listen...:p:.
Anyway , a very nice Ann report released by AAQ back in Sept.

Total revenue up 238% !! to 5.6 M$.
net loss down 82% to $323000 and get this!!....
Third party sales up 672 % to 3.186 $M.

cant complain about that now.
With plant expansions and US hatchery on the go, economies of scale should start reducing costs and I'm gonna be in...maybe early 08. Or as soon as I release some cash from somewhere else!!

[ekman]

Australian Aquaculture Co Pty Ltd and director Peter Marchesin were convicted and fined in the Cairns Magistrates Court for failing to prevent erosion and sediment runoff at the company's facility in Speewah, near Cairns.

Source is SMH

[ekman]

Australian Aquaculture Co Pty Ltd and director Peter Marchesin were convicted and fined in the Cairns Magistrates Court for failing to prevent erosion and sediment runoff at the company's facility in Speewah, near Cairns.

Source is SMH

Nothing to do with AAQ - my apolgies for the earlier post

[nukiee]

3rd Quarter Report today announcing "Continued Sales and Inventory Growth"

Revenue has been growing steadily over the past 3 quarters to be almost breakeven. Market demand and fish production has been increasing giving AAQ solid fundamentals IMHO. Spiked to 59c @ 10:51am... virtually no sellers atm

[Dukey]

Looking better all the time I think - trouble is resources and energy are so hot here... I keep putting off my future AAQ investment.

They look good for maiden profit next at QTRly release.

Also - announcement today - AAQ has arranged a kind of US capital market 'pseudo?-listing' using ADR's - I've never heard of these before - but it seems US investors can buy these AUQCY 'American Depository Receipts' - each one = 10 Aussie AAQ shares.
My guess is its a quick/easy way to access US investors - without the expense or maybe time frame, of a regular market listing. Apparently US investors can buy them 'over the counter' from their broker.
Bodes well I think given that their profile seems to be growing nicely.
....
One day I'll buy some AAQ !!!!!!!!!!!!! :):)

[Robroy]

David Haselhurst (The Speculator) in today's Bulletin magazine buys into Australis Aquaculture (AAQ).

Reasons:

UN stats showing that world natural habitat fish stocks are plummeting terminally, that aquaculture now makes up 40% of world fish consumption (and rising fast), & that 2 in 5 people on the planet eat fish as their primary protein source.

AAQ is establishing a strong & growing position in the US market (1000 tonnes p.a. by October).

AAQ is about to release its first quarterly profit, on the back of strong sales growth.

AAQ has drifted down into the .50s in recent times and represents good buying.

An imminent capital-raising will fund a huge new project in Vietnam, intended to supply 8000 tonnes a year for Europe & US markets.

[Spaghetti]

Substantial shareholders

Acorn Capital Limited 8,140,000 14.02
Drumfrochar Pty Ltd 3,160,000 5.17
Bulleen Pty Ltd <G S Graham Family A/C> 7,900,000 13.10

Recent press article WA Business News

Perth-based seafood company Australis Aquaculture Ltd aims to raise $10 million through a placement and share issue to fund the acquisition of Vietnamese farming production assets and an upgrade of its US supply and distribution infrastructure.



The company has issued 16 million ordinary shares at 50 cents each in a placement to raise $8 million, with $3.3 million worth to be placed immediately. The remaining shares will be placed subject to shareholder approval.



Australis will also raise up to $2 million through a share purchase plan, offering its shareholders the right to purchase up to $5000 of ordinary shares at 50 cents each.

Ann

Australis Aquaculture Ltd is pleased to announce that it has received commitments from institutional, sophisticated and professional investors for a placement of $8,000,000, comprising 16,000,000 ordinary shares at an issue price of $0.50 per share. Placement of $3,280,293.50 (6,560,585 shares) will be completed immediately under the company's 15 per cent capacity, pursuant to ASX Listing Rule 7.1. Placement of the remaining 9,439, 415 shares is subject to shareholder approval at the forthcoming General Meeting scheduled for late July 2007. State One Stockbroking Ltd acted as Lead Manager for the issue.

In commenting on the capital raising, Australis Aquaculture Managing Director Josh Goldman said "We are encouraged by the strength of institutional support for our recently announced strategy to create up to 10,000 TPA of production capacity for barramundi in Vietnam and to further expand our capacity in the United States."

Mr Goldman added "The Company believes that its two-pronged expansion strategy represents the most rapid and cost-effective means of meeting the rapidly rising demand for high quality sustainably-produced seafood in the North American, European and Australian markets. The strategy is designed to satisfy demand from particular sectors which have expressed strong interest in dealing with Australis."

The expansion strategy is summarised in an Investor Presentation lodged with the ASX on May 29, 2007.

Share Purchase Plan ("SPP")

Australis further announces that a Shareholder Purchase Plan ("SPP") will be offered to all shareholders with the record date for participation being June 21, 2007. The SPP offers Australis shareholders the right to purchase up to $5000 of ordinary shares at a price of $0.50 per share. The $0.50 price is identical to the placement price to institutional investors and represents a 12 per cent discount to the closing price on the ASX on June 6, 2007, the date of the board's decision and 9% below the average market price of Australis shares sold on the ASX in the five trading days prior to the date of this announcement. Shares will be offered in increments of $1000, with a minimum purchase of $2000.

The funds raised from the SPP will be used to develop the Company's operations in Vietnam, accelerate US sales activities and further develop US expansion opportunities.

The shares issued under the SPP will be fully paid ordinary shares which rank equally with the other ordinary Australis shares currently on issue. Ordinary shareholders with a registered address in Australia will be invited to subscribe for ordinary shares under the terms and conditions of the SPP. The offer to participate in the SPP will be mailed to eligible shareholders shortly.

[Caliente]

hi - to participate in the SPP what is the minimum holding required?

Will the minimum parcel i.e. $500 do it???

[Spaghetti]

Not very knowledgeable on fish but this does sound attractive.

Plan to ramp up production within 5 years from 1,000 tons to 50,000 tons. Immediate short term growth to 3000 tons pa.

Fresh fish farmed close to New York with an estimated population of 100,000 milion people close by. Lower cost frozen barramundi to be farmed in Vietnam.

Not sure how many they can fit in their facility in the US though.

Caliente, I am guessing you must own prior to record date 21st June. Never sure about these things.

Love their logo, is this good reason to buy fish stocks lol

But I do love Barramundi, will the US like as much as we do?

I also love the fact that it comes at a time when sustainable farming is becoming very fashionable.

[Caliente]

my AAQ story is a bit odd really. It was the very first stock I ever researched, but missed the IPO. I remember it jumped massive, and I'm like forget this and moved on.

I'm looking to diversify at the moment however, and fish is a good story =)

[Spaghetti]

Price has gone up on little volume. Very low volume so far. Sell side seems to be building quicker than the buy side. Most buys seem to be at market, sellers did not meet at limit orders at under .59 but seem willing to accommodate @.59 and .60.

It may depend on how much interest the article posted by speculator generates. I have not read that report before so not sure if it is well regarded or not.

[Dukey]

Not very knowledgeable on fish but this does sound attractive.

Plan to ramp up production within 5 years from 1,000 tons to 50,000 tons. Immediate short term growth to 3000 tons pa.

Fresh fish farmed close to New York with an estimated population of 100,000 milion people close by. Lower cost frozen barramundi to be farmed in Vietnam.

Not sure how many they can fit in their facility in the US though.

Caliente, I am guessing you must own prior to record date 21st June. Never sure about these things.

Love their logo, is this good reason to buy fish stocks lol

But I do love Barramundi, will the US like as much as we do?

I also love the fact that it comes at a time when sustainable farming is becoming very fashionable.

I like the sound of these guys too. good business plan in an industry of the furture I think. I`m still not holding as I`m up to the hilt in Gas stocks ATM - so havn't digested the expansion proposals yet - sounds good on the surface though.

As for 'will the US like Barra ?' According to their various media releases - Australis have had a pretty successful marketing campaign it seems - and Barra is placed as a high-end top quality, healthy product and therefor attracts good prices. Demand seems to be quite healthy and increasing.
http://www.australis.us/news.htm

[Spaghetti]

Well took a small possie, sink or swim :D

The price may fall after the offer but if it stays above 50c then possibly a good way to average out purchase price. With the 8mil in professional investors then there should be good support.

[Sprinter79]

I wouldn't trust fish 'farmed' in Vietnam.

Consumer Protection (part of DOCEP here in WA) did a study into fish sales, and found some pretty ordinary heavy metal levels in imported frozen fish. Some samples couldn't even be identified as fish!!!

[Spaghetti]

I wouldn't trust fish 'farmed' in Vietnam.

Consumer Protection (part of DOCEP here in WA) did a study into fish sales, and found some pretty ordinary heavy metal levels in imported frozen fish. Some samples couldn't even be identified as fish!!!


I do not like fish from Vietnam either but but why wouldn't you trust farmed fish from an Australian company with American management, wherever it may be farmed?


Were the samples you tested from similiar companies?

[Sprinter79]

I do not like fish from Vietnam either but but why wouldn't you trust farmed fish from an Australian company with American management, wherever it may be farmed?


Were the samples you tested from similiar companies?

Its more about the environment in which they are farmed.... Pollution in the water ends up finding its way into the flesh.

I didn't do the testing, so I don't know which company's fish was tested.

[Spaghetti]

Its more about the environment in which they are farmed.... Pollution in the water ends up finding its way into the flesh.

I didn't do the testing, so I don't know which company's fish was tested.

I cannot imagine they would allow farming in polluted waters and still try to list on ASX. However, even so most of the population of the world cannot afford fish farmed in the shadows of the Daintree rainforest. So demand is more important issue when considering purchase of stocks.

We can afford it only sometimes, but so so worth it. Best fish on the planet!

[Caliente]

Ok - i got my minimum parcel and sent an email to AAQ Investor Relations. Hopefully he'll get back to me by tonight. Because I'm bought in prior to record date I should qualify I imagine.

If I do its a straight 5K into the SPP for me.

Cheers
-Cali

[Sprinter79]

I cannot imagine they would allow farming in polluted waters and still try to list on ASX.



You'd be hard pressed to find an unpolluted waterway in Asia. There's plenty of reasons why fish are farmed in Vietnam, and its not because of the fish.

[Robroy]

Volume crossed 500,000 for only the third time in recent years today. (622,000.)

AAQ gapped up 0ff .55, opening at .56 and closing at .59 (top .595).

Today's Speculator article is getting plenty of coverage around the place.

All of which may augur for a strong rest of the week.

[TheJafa]

I am not 100% sure but I think to be entitled to take part in the SPP you would have needed to have purchased you parcel 3 days prior to the 21 June 06.

I am basing this on my understanding of dividend entitlement. For dividends you need to purchase the shares on or prior to the ex-date which is at least 3 days prior to the date of record. This is because under the settlement rules on the ASX you are not the legal owner of the shares until actual settlment occurs which is three days after the purchase takes place (although you are exposed to movements in the share price).

I am not sure whether the same reasoning would apply in this case. Can anyone else shed some light on this?

[Spaghetti]

I am not 100% sure but I think to be entitled to take part in the SPP you would have needed to have purchased you parcel 3 days prior to the 21 June 06.

I am basing this on my understanding of dividend entitlement. For dividends you need to purchase the shares on or prior to the ex-date which is at least 3 days prior to the date of record. This is because under the settlement rules on the ASX you are not the legal owner of the shares until actual settlment occurs which is three days after the purchase takes place (although you are exposed to movements in the share price).

I am not sure whether the same reasoning would apply in this case. Can anyone else shed some light on this?

I am not sure either to be honest. Wouldn't it show XE though? I never have shares that get anything, not even dividends when I am holding, ok a few dividends. So not real experience.

[Lachlan6]

(AAQ) is looking very nice after today's move. Broken important 50% level, and now should be unchallenged to test all time highs. Big volume on the breakout and the fundamentals look spot on. Was going to enter today, but instead chose on (LYC) and (JMS). Still this one is shaping up very well.

[Caliente]

Lovely action, I was expecting a selldown considering ex date was yesterday - current holders will get some great leverage from the SPP@50cents =)

They got my $500, now they'll get my 5K!

Cheers
-Cali

[Fish Broker]

Being in the industry this is a stock I am interested in and hold - so imagine my surprise today when checking the ASX announcements to ascertain dates etc for the SPP (assuming docs will be late gettinghere to NZ maybe leaving me not much time to accept) only to find that the SPP is for holders with a registered address in Australia only !!!!!!!!!!!!!!

In my experience it is normal for ASX SPP's to be for Australian and New Zealand holders - why the difference this time? I have participated in a couple this year for ASX holdings - AWE and DYL.

I have emailed the company so hopefully will get a respinse soon.

In the meantime, any other NZ holders it appears we cannot participate!

Any comments welcomed.

[FI$H]

I emailed my bank a while ago who forwarded it to first capital but they haven't got back to me... we won't participate, i guess...

[FI$H]

Is there a way to find out when quarterly results are going to be published? Is there something like an earnings calendar in Australia? Would be great to know about upcoming announcements beforehand...

[Caliente]

hi fi$h, best thing to do is to email the MD Josh Goldman. He's pretty friendly (albeit succinct) and will have the answer to your questions.

This one is going to be a real doozy over the next few years. Vietnam Uni fingerling supply agreement just adds more cement to the deal really.

Will be nostalgic to look back on this thread in about a year or two's time.

PS - I didn't invest in WKL. Being a bit of a clown(fish) as far as investing in aquaculture is concerned I have little knowledge about the capabilities of the other companies in this sector.

I do know however that AAQ is the real deal. Is there any other plays I should be looking at Fi$h?

Cheers
-Cali

[FI$H]

hey caliente,

tassal might have a bright future but a lot of growth is already priced in the stock and the competition is fierce in the salmon market. however, mcdonalds is planning to launch a salmon wrap in the near future. this might raise the demand for fish, the awareness for fish health benefits, but also the sustainability problems of salmon production... it might be a take-over canditate for bigger norwegian players such as marine harvest or cermaq... (http://fisweekendnews.blogspot.com/2007/06/29062007-traditional-fisheries-triumph.html)
don't expect too much from this stock on the short run.

have an eye on CAQ. this one is cheap. Their concept is comparable to that of AAQ. A malaysia joint-venture is creating a lot of revenues(7 million $ deal / CAQ market cap = 10 million $). this will be reflected in this and the next 2-3 quarterly results offering a good trading chance if you ask me. Yesterday they announced that they might reduce manufacturing costs of their equipment by shifting the production to malaysia. they have a foothold in the american and european market, too. all they need is more customers...

CSS will have more than 10 million $ revenues from kingfish sales alone next year. mulloway production will add a bit to that, too. but it all comes down to if they will be able to close the southern bluefin tuna life-cycle. The stock will take-off the second this has been accomplished. The biggest technical hurdles have been taken and everything seems to be on track...

[grace]

A nice move up in price today after the shareholder update detailing forecast maiden profit for 08! Also signed up with new major retailer in the US.

[FI$H]

The move surprises me since there really wasn't anything new in the investors update...

:banghead::bonk::whip:horse:

[grace]

Nice move up in the share price today with a 60% increase in fish sales expected Dec qtr over Sept qtr last year. The quarterly report should be a good one based on this.......

[Real1ty]

Nice move up in the share price today with a 60% increase in fish sales expected Dec qtr over Sept qtr last year. The quarterly report should be a good one based on this.......

Yes, i'm hoping so, yet the strengthening A$ is going to have some negative effects, as will the U.S slowdown sentiment, although i doubt that will effect sales tbh.

I have quite a big holding in AAQ, so am hoping for some SP appreciation soon.

[Morgan]

Additionally of good note- AAQ was recently awarded the "Special Award for Environment" in the annual Australian Sustainability Awards (sponsored by "Ethical Investor Magazine". :)

[lamot1]

I have quite a big holding in AAQ, so am hoping for some SP appreciation soon.

I didn't think that there were too many others interested/following/holding this one. Recent share performance has been a welcome reversal of the (previous?) downward trend. I have been in this one for quite a while as well and participated fully in the July 07 SPP @ 0.50 when I think the SP was around 0.60.

My concern is that due to its relatively poor performance since then, the stock will face some resistance at 0.50 as many who got in at that price/increased holdings substantially will look to get out and break even. I was thinking the same with a sell order at 0.50 in November when the SP climbed briefly to 0.49.

Still, things are now looking more positive on the increased sales forecast and hopefully the worst of the supply constraints are behind it. I think Stateone has had a spec buy on this one for a while, but they were the sponsoring broker for the IPO so it may not really mean a whole lot... :rolleyes:

[Morgan]

I am holding AAQ- (barramundi) and CSS- (tuna) on the hope they can emulate the success of TGR - (salmon).
Not as exciting as mining stocks, but from a fundamental point of view, with overfishing and increasing populations, surely fish farming will sooner or later be appreciated as a vital supply method for the seafood market.

[grace]

I am holding AAQ because of good management (ex TGR). I used to hold TGR. This one is a small emerging in my opinion. Getting a bit of a hiding because of the US connection, but hopefully will show cashflow positive this year. Fish numbers and sales continue to grow!

[grace]

Anyone know why the big sell down today? The quarterly should be out soon, and I would have thought that it would be cashflow positive (depending on how much they are spending in Vietnam).

[sting]

I had at confidence in AAQ..... that is until todays notice the company chairman sells his entire holdng ( 6 million shares leaving him less than 2 ,000)

Any one have an opinion as to why unless its rats deserting the sinking ship, dont wanna get caught out again


SEMPER UBI SUB UBI

[grace]

I had at confidence in AAQ..... that is until todays notice the company chairman sells his entire holdng ( 6 million shares leaving him less than 2 ,000)

Any one have an opinion as to why unless its rats deserting the sinking ship, dont wanna get caught out again


SEMPER UBI SUB UBI

From what I can see, he still has 482,305 left (still not good though).

Stewart Graham
29/9/06 7 600 000 shares
900 000 options

28/9/07 6 482 305 shares
900 000 options

Leaves 482 305 shares
900 000 options
(perhaps he is getting a margin call on his other investments:D)

Sold 6 000 000 to Conti Street Partners by "exercise of share call" per below. What is the difference between selling and "exercise of share call option"????? Anyone can add??? Perhaps he has always had this sitting there waiting to go......??????

[
Conti Street Partners becoming Substantial Shareholders
Exercise of Share Call Option

Following the ‘Change of Directors Interest Notification’ lodged with the ASX on December 19th 2007, Australis is pleased to announce the Call Option over shares controlled by Australis’ Chairman Stewart Graham was exercised on the due date of February 22nd, 2008.

The share purchase was completed by Conti Street Partners, a private, Texas-based investment company with holdings primarily in natural resources and real estate. Conti Street seeks to make concentrated investments in companies with exceptional management teams and the potential for significant long term value creation.

Australis welcomes the new substantial shareholder and believes this US based interest in the company will offer an informed local market perspective and continuing support for the development of the sustainable aquaculture practices established by Australis.

[sting]

I got it wrong... he sold 6 mill but has about 400 thousand left... not a lot for thr chairman of the company... altho he got around 2 mill for them... nice easter pressie


SEMPER UBI SUB UBI

[grace]

I got it wrong... he sold 6 mill but has about 400 thousand left... not a lot for thr chairman of the company... altho he got around 2 mill for them... nice easter pressie


SEMPER UBI SUB UBI

I have emailed Josh Goldman (MD) with my concerns in relation to this sale and the lack of confidence this gives investors (I hold). Will post when I hear back.

AAQ had a bad last half. Would be nice to get some good news and some +ve cashlflow this year!

[sting]

I also hold but am starting to think that if its not good enough for the chairman to remain a sub shareholder is it god enough to keep my money invested. I would expect a price fall tomorrow caused by others sharing my opinion


SEMPER UBI SUB UBI

[sting]

I have emailed Josh Goldman (MD) with my concerns in relation to this sale and the lack of confidence this gives investors (I hold). Will post when I hear back.

Grace any responce yet ? Price not falling as much as I had anticipated.


I still feel that considering all matters other than the share sell out this is a viable and profitable venture. Does the chairman know something that they are not disclosing I hope not. Even tho we all know it is illegal we also know it is occurring with a far great frequency as of late


SEMPER UBI SUB UBI

[grace]

Here is the email received back from Josh (MD). He is still bullish about the company of course. It probably is a matter of being patient with this one.

I see reference to the sale being at 55c per share, so they are sitting on a bigger loss than me at the moment.


Stewart sale was a product of necessity based on personal investment decisions that he made in the past. Sorry not to be able to be more specific. It is, however, a matter of public record that the investors who purchased his stock established an option to do so at $0.55/share, which was above the then share price of $0.50/share. Bringing on a major US-based shareholder has been a long-term objective for us and we are are very exited to have them involved as we believe they will be a significant asset to the company.

I can assure you that I remain both enthusiastic and very confident in the future of the company.

Hopefully, this helps provide some additional context.

Your feedback and thoughts are always welcome,so please free to contact me at any time.

Best,

Josh

[malachii]

Sorry Grace - but that is not quite true. If you read the whole 40 page document you'll see that they varied the original 55cent price down to 48cents then down to to 33cents (see page 38 of the "Becoming a substantial shareholder dated 26/02/08 for the final variation).

So they are only sitting on a very small loss compared to the rest of us who have believed in the company for a while. I've got to say - I feel a bit ripped off and am disappointed that Josh is trying to hid the real price the option was exercised at.

malachii

[grace]

Sorry Grace - but that is not quite true. If you read the whole 40 page document you'll see that they varied the original 55cent price down to 48cents then down to to 33cents (see page 38 of the "Becoming a substantial shareholder dated 26/02/08 for the final variation).

So they are only sitting on a very small loss compared to the rest of us who have believed in the company for a while. I've got to say - I feel a bit ripped off and am disappointed that Josh is trying to hid the real price the option was exercised at.

malachii

Hi Malachii....I couldn't quite understand the email they had sent me with the price mentioned. Like you, I understood it to be 33cents, but I thought I must be stupid or something, and didn't pick something up. Why would Josh try and have me on? This sort of correspondence should not happen!

[malachii]

This is where Josh is playing games - he didn't say the price went through at 55cents he said "established an option to do so at $0.55/share". What really bugs me is that he didn't finish the statement by mentioning the variations down to 33cents. When management feels they need to hide things (or not mention them - call it what you like!) it makes me wonder what else they aren't telling us.

Maybe shoot him another email and see what he says when you pull him up on it. Maybe I'm being a bit harsh but I wouldn't expect a much clearer answer than what he gave.

malachii

[grace]

This is where Josh is playing games - he didn't say the price went through at 55cents he said "established an option to do so at $0.55/share". What really bugs me is that he didn't finish the statement by mentioning the variations down to 33cents. When management feels they need to hide things (or not mention them - call it what you like!) it makes me wonder what else they aren't telling us.

Maybe shoot him another email and see what he says when you pull him up on it. Maybe I'm being a bit harsh but I wouldn't expect a much clearer answer than what he gave.

malachii

I have emailed again and await reply

A note to all holders - there was a Sell order in for 600 000 shares at 35c. It has sat there for a little while and sent the price down. Today it disappeared and what did we get - a movement up. A bit of buying lower for that person. Will be interesting to see if they put a big buy order in now to push it up????? Just watch out, the price is being manipulated.

[grace]

I never heard back from Josh!

The "cappers" have removed their sell orders now and we have more buyers than sellers now. Could have hit the bottem. Very illiquid stock this one! Can easily be manipulated.

Target sales 1000 TPA Q1/08

Expect fresh output to double qtr on qtr in the March 08 qtr.

MQG became a substancial holder 11/07. Let's hope they did their homework.

[Wysiwyg]

I never heard back from Josh!

The "cappers" have removed their sell orders now and we have more buyers than sellers now. Could have hit the bottem. Very illiquid stock this one! Can easily be manipulated.

Target sales 1000 TPA Q1/08

Expect fresh output to double qtr on qtr in the March 08 qtr.

MQG became a substancial holder 11/07. Let's hope they did their homework.


Grace, when large holders are not fair dinkum about selling and are trying to spook the smaller holders out then that should be a trading breach.The brokers know who they are and a repeat offender should get a warning and then restrictions or fines.When that sort of rubbish starts (and am i seeing more of it ? ) participating in the stock market is one big turnoff.

I don`t know if there is a rule against the practice.

[grace]

Grace, when large holders are not fair dinkum about selling and are trying to spook the smaller holders out then that should be a trading breach.The brokers know who they are and a repeat offender should get a warning and then restrictions or fines.When that sort of rubbish starts (and am i seeing more of it ? ) participating in the stock market is one big turnoff.

I don`t know if there is a rule against the practice.

So is there a rule against this? I guess anyone can put a sale order in and change their mind (I do it all of the time...just not as big though).

It was blatantly obvious with AAQ 1 x 600 000 sale order at 35c. You know, about 1 year ago I would have said "quick I need to sell lower with that sitting there". It is certainly cruel to beginners. Lucky I have seen the light and I just wanted other holders to be aware of it.

Would love to know if a regulation exists though. You can download the depth to get evidence etc.

[grace]

Well Josh Goldman MD has been buying in lately I see. A good sign? Now if that Chairman were to buy his holding back on market, we would see a nice rise!

[malachii]

Trouble is - the amount he is buying is not exactly large in the grand scheme of things. It would be nice if he bought a decent size (600 000 shares) chuck.

malachii

[grace]

Good news out today with the duties for their BASA to be eliminated. All other BASA producers selling into the US are at 63.88%. Can't see why they would buy any other brand of Basa! Go Australis..


Australis Aquaculture (ASX: AAQ) – is pleased to announce that QVD Food Co., Australis’ supplier of high quality Basa (Pangasius bocourti) to the United States was successful in its efforts to have its duty rates eliminated by the US Department of Commerce (USDOC). Prior to the USDOC action, QVD’s rate was 14.59 percent. The countrywide duty rate remains at 63.88 percent for nearly all other Pangasius producers selling into the US.

In February 2008, Australis and QVD announced a four-year supply agreement whereby Australis received the rights to purchase 100% of QVD’s available supply of Basa.

According to Australis Managing Director Josh Goldman, “Basa is a well accepted product that has become a staple seafood item around the world.

Historically, high duty rates have made it unattractive to US consumers. QVD’s efforts to reduce and now eliminate import duties means that QVD is able to supply high quality, attractively priced Basa to Australis.

This translates to exceptional value for US consumers as Australis Basa hits retail stores beginning in April and May 2008. Basa, with its combination of sustainable production, high quality, and consumer appeal, make it a logical first step for Australis to extend “The Better Fish” brand beyond our core Barramundi focus.”

[grace]

New Chairman has a company outlook. Austalis seem to be getting some traction now. To be profitable for the first time in 08/09.

http://aspect.comsec.com.au/asxdata/20080704/pdf/00857549.pdf


The Company has established baseline Barramundi production capacity of 1,000 metric tonnes per year in Massachusetts, established scalable proprietary global sourcing and contract production relationships and most recently received approval to build a large facility in Vietnam with annual production capacity of 10,000 metric tons, which could contribute approximately USD$50 million in annual revenue at capacity.


Looking at FY09, the Company believes that it will achieve total revenues of between USD$14 and USD$20 million dollars in the coming fiscal year.


It is clear to me that Australis has entered a significant and exciting growth phase of expanding sales which we expect will support a transition to profitability in FY09.

MC = $ 26.7mill based on a share price of 30c (89 million shares)

Let's hope they get the numbers right.

[FI$H]

The prospective revenue is gigantic compared to mc but they've failed to deliver before, as the management admits.

[pistol72]

The revenue forecast numbers look great.I think the new chairman already has had an impact,things seem to be happening,note how long it took to get fish in water in Veitnam after licences and permits were issued,problems getting sorted ect.Looks like the company is set and ready to move forward.
Director picked up a few more and chairman bought some stock recently.
From a technical view there seems to be no distinct pattern, i can see a possible rectangle bottom ,but more than likely a consolidation trading between .25-.33 .Abreak either way would indicate future direction.There has been a little volume for it the last few weeks compared to weeks prior accumulation?.bullish divergences in the RSI MACD.Support@.25 resistance.33+.40.
Definately one for the long term watchlist
P

[FI$H]

The revenue forecast numbers look great.I think the new chairman already has had an impact,things seem to be happening,note how long it took to get fish in water in Veitnam after licences and permits were issued,problems getting sorted ect.Looks like the company is set and ready to move forward.
Director picked up a few more and chairman bought some stock recently.
From a technical view there seems to be no distinct pattern, i can see a possible rectangle bottom ,but more than likely a consolidation trading between .25-.33 .Abreak either way would indicate future direction.There has been a little volume for it the last few weeks compared to weeks prior accumulation?.bullish divergences in the RSI MACD.Support@.25 resistance.33+.40.
Definately one for the long term watchlist
P

I like the new chairman's wording. He seems to be very aggressive and bullish. Maybe he can get the Vietnam facility quickly to 10 000 tpa capacity which will create a lot of cash. He is very confident that they have reached a turning point.

[Green08]

I have watched this for a while. How do you transport finglerlings by plane effectively and economically with fuel prices? Keep the stock 'fresh' by not over interbreeding? I'm sure they suffer from altitude compression sickness (ever seen fish chewing gum? and the RSPCA wouldn't me too impressed.) THE USA who has the money to buy quality Barramundi on a large scale, these people can't even (on a % basis) pay their Creidt card off. Do they even know what it is. Last time I was there they told me I had to try an Australian Delicacy on Open 'flowered' fried onion drown in mayo. Well i took one look it and said I have never seen one of those in Australia in downtown Sydney or Bathers - maybe some delicacy somewhere else. I love the hype which may fizz out. I do and would support any fully owned Barramundi project in Australia to support Australians.

[grace]

Well, what do you know, The Speculator has added Australis to his portfolio with quite a write up in yesterdays column. (I hold)


I’ll stick to bottom fishing among the all but unrecognized listed companies and this week I believe I’ve hooked a tasty catch.

Fish farmer unreasonably battered

Barramundi fish farmer Australis Aquaculture (AAQ.AX


AUSTRALIS AQUA31 July,200831/07/2008 13:51 Sydney, Australia.
Price Change % Change
0.265 +0.010 +3.920%

Company overview
Real-time quote
AAQ.AX , 0.265, +0.010, +3.920%) is set to deliver a maiden profit in 2008-09, four years after listing to develop fish farms in the USA and Vietnam. Last week, the company delivered an up-beat investor presentation in Sydney and rose initially to 30c, before tumbling back to close at 26c on a week’s turnover of 488,000 shares after the National Bank’s shock provisions sent the market into turmoil. At the week’s closing price the company’s 88.75 million shares carry a market capitalisation of $23 million.

Australis has traded down from a 52-week high of 66c to as low as 24c in recent weeks. On fundamentals alone, the stock should be poised for significant recovery over the coming year.

As an unlisted company before 2004, its original backers had a decade of mixed results from experimenting with fish farming in Western Australia. The turnaround began with the 2004 float to acquire America’s largest indoor fish-producing facility at Turner Falls, 90 minutes west of Boston.

The initial plant purchase and an upgrade cost $4.4 million and delivered a target capacity of 700 tonnes a year. The plant was modified according to company-held patents to replicate the habitat of barramundi, a species then almost unknown to the American palate.

Fingerlings were flown in from three Australian hatcheries and by mid-2006 it had a growing inventory estimated at 140 tonnes totalling 900,000 fish and growing at the rate of 45 tonnes/month. (It takes 9 months to grow the fingerlings weighing 3gm to a fish with a harvest weight of 750-800gms.)

To develop a niche in America’s $50 billion/year seafood market, initial production was directed through up-market restaurants, followed by 400 supermarkets and trials in chain restaurants.

A cute marketing coup was scored at the White House in mid-2006 when President Bush hosted a dinner for visiting Australian Prime Minister John Howard. The main course was Australis’ barramundi.

A further plant expansion costing around $2.5 million to lift annual capacity to 1000 tonnes is approaching completion, albeit at a slower rate than expected a year ago. That has no doubt led to some smaller investors shedding stock.

Eclipsing that development, however, is the move begun a year ago to open a barramundi hatchery, nursery and grow-out facility in Vietnam with an ultimate capacity to produce 10,000 tonnes of fish a year. In June, 2008, the company was granted licences to develop such a facility on a 205-hectare site in central Vietnam.

Australis chairman Ian Mitton has predicted to shareholders that the new development when completed could add $US50 million a year to revenue. (Mitton, joined Australis as non-executive chairman in April, 2008, having previously been the founding managing-director of salmon farmer Tassel Ltd.)

Meanwhile, full year revenue for 2007-08 is expected to be around $5 million, rising on the company’s projection to between $US14 million and $US20 million in 2008-09. (The last quarter of the latest year saw revenue running at an annual rate of $US8 million).

On revenue projections for the current year, the company should deliver a maiden profit of between $1.3 to $2.3 million. At the higher rate, that equates to earnings of just 2.6c a share putting the stock on a multiple of ten times projected earnings.

While I cannot agree it is ultra cheap at this stage, if its team of qualified and experienced managers achieve their targets and achieve a trebling of revenue in the next three years, shareholders will be well rewarded.

It’s likely the company will need to raise between $6 million and $10 million to advance its expansion and to establish an initial infrastructure in Vietnam to support a 3500 tonnes/year operation. Then, hopefully, cashflow will contribute to further growth.

I picked up 10,000 shares at 26c in the route at the end of last week.

[Green08]

Hi Grace I don't know anything that I havn't read. Please find below some information
Insider Transactions Get Insider Transactions for:

[SIZE="3"][SIZE="4"]MOST RECENT INSIDER TRANSACTIONS
Date Insider Quantity Traded Security Type Transaction PostTrade
14/7/08 Michael Cohen 5,791 Direct Shares Buy 454,328
11/7/08 Michael Cohen 100,001 Direct Shares Buy 448,537
3/7/08 Michael Cohen 26,350 Direct Shares Buy 79,886
25/6/08 David O'Sullivan 35,000 Indirect Shares Buy 2,535,000
19/3/08 Joshua Goldman 23,800 Direct Shares Buy 2,477,983
18/3/08 Joshua Goldman 76,200 Direct Shares Buy 2,454,183
6/3/08 Stewart Graham 6,000,000 Indirect Shares Sell 482,305
1/8/07 Stewart Graham 743,061 Indirect Shares Sell 6,482,305
13/7/07 Stewart Graham 210,000 Indirect Shares Sell 7,225,366
4/5/07 Stewart Graham 46,318 Indirect Shares Sell 7,435,366
12/4/07 Stewart Graham 118,316 Indirect Shares Sell 7,481,684
23/5/06 Stewart Graham 300,000 Indirect Shares Sell 7,600,000

http://au.finance.yahoo.com/q/ait?s=AAQ.AX

Now see where he bought into and with your own research you may fine his position and what is going on, A joint deal. with consideration to pricing of the shares at the time,

MOST RECENT INSIDER TRANSACTIONS
Date Insider Quantity Traded Security Type Transaction Post Trade Ownership
9/11/07 John Gillon N/A Indirect Shares Buy 1,023,000
11/9/07 Stewart Graham 100,000 Indirect Shares Buy 4,010,000
1/8/07 Robert Gould 100,000 Indirect Shares Sell 650,000

http://au.finance.yahoo.com/q/ait?s=WKL.AX

[grace]

Austalis announce sales of Barramundi going into Safeway stores - the third largest supermarket retailer in the US. 1740 stores. Well done, this should increase sales nicely.......I know the US is in the dulldrums, but they still have to eat.:)


Australis Aquaculture, Ltd. (ASX: AAQ) is pleased to announce that Safeway, Inc., the US’ third largest supermarket retailer and the 10th largest general retailer, will begin offering Australis Barramundi at all 1,740 of its stores this week.

Australis’ fresh and frozen Barramundi will be sold in the full‐service seafood case across the Safeway system, including Safeway, Vons, Dominick’s, Genardi’s, Randall’s and Tom Thumb stores.

Josh Goldman, Australis Managing Director said, “We are proud of this milestone as Australis Barramundi has now entered national distribution in one of the US’ most respected supermarket chains. The supply creation initiatives we began last year are yielding significantly increased amounts of product that we can deliver to large national retailers like Safeway. At the same time,
consumers are increasingly recognizing Barramundi as a mainstream seafood choice. Together, these developments are making Australis a trusted brand and a “best choice” for delicious, safe, healthy and sustainable seafood for US consumers.”

“The ability to service new customers like Safeway is an important component to meeting our FY09 sales targets,” added Mr. Goldman.

National distribution of Australis Barramundi through the Safeway chain follows the Company’s recent announcement that Australis Barramundi was recently selected by The Darden Group’s for its ‘Fresh Fish Menu’ at approximately 700 Red Lobster restaurants.

[grace]

Quite a bit of positive news on this one of late.

Speculator wrote it up this week in his weekly column.


It’s difficult to fathom, but last week panicky punters sold Australis Aquaculture.

AUSTRALIS AQUA16 November,200816/11/2008 14:16 Sydney, Australia.
Price Change % Change
0.185 -0.015 -7.500%

Company overview
Real-time quote
AAQ.AX , 0.185, -0.015, -7.500%) down to a new year’s low point — after the company announced a maiden operating profit and a near doubling of revenue from its barramundi fish farms.

We added Australis to the portfolio (July 30) at 26c after the stock had more than halved from a high last year of 66c, despite a run of encouraging reports on the company’s progress.

The latest quarterly report for the three months to the end of September was no exception, with the company continuing to make considerable progress in building its revenue base and moving towards sustained profitability.

Highlights of the quarter included:


Total revenue of $3.2 million was 93% ahead of the previous year’s September quarter and 81% ahead of the preceding June quarter.
Fish sales increased 327% over the same quarter a year ago and 69% ahead of the June quarter.
The company achieved an initial operating profit of $166,000 in the latest quarter.
Its Vietnam production facility has been stocked with 550,000 fingerlings since the company was granted its operating licence in June, 2008.
Australis delivered more than 100 metric tonnes of high quality frozen fillets, continuing to nearly double volumes in each successive quarter.

At an investor presentation in Sydney in July, Australis chairman Ian Mitton predicted revenue for the full 2007-08 years would be about $5 million, rising on the company’s projection to between $14 million and $20 million in 2008-09.

In fact revenue for the full 2007-08 year came in at $5.975 million (up 28%), although the company recorded a loss of $4.4 million as it heavily invested in future growth. The revenue projection for the current year of between $14-$20 million has already been exceeded with revenue in the month of September running at an annualised rate of more than $21 million.

On the July revenue projections the company was expected to deliver a maiden profit of between $1.3 to $2.3 million for 2008-09. Since most of its product is sold into America, the recent collapse in the $A/$US rate should further enhance those figures when results are converted to Aussie dollars.

At the higher $2.3 million profit projection, the stock at last week’s low of 15c is priced on a multiple of less than six times earnings, which ignores all the potential growth out of its new Vietnam fish farm as well as Turner Falls farm in Massachusetts, the largest indoor fish-producing project in America.

Shareholders will be eager for an update on those projections when the company holds its annual meeting on November 24. In the meantime, I doubled our holding with the purchase of another 10,000 Australis shares at 15c.

[Basilica]

It is worth mentioning that AAQ in the 2008 annual report (3/10/08) of WKL owns 25,000,000 shares in WKL that they bought in 2007 and WKL was placed into Voluntary Administration a week ago. And Stewart Graham has been involved in both companies. I understand that AAQ was to assist WKL in marketing WKL products.
http://www.growfish.com.au/content.asp?ContentId=8213

[grace]

It is worth mentioning that AAQ in the 2008 annual report (3/10/08) of WKL owns 25,000,000 shares in WKL that they bought in 2007 and WKL was placed into Voluntary Administration a week ago. And Stewart Graham has been involved in both companies. I understand that AAQ was to assist WKL in marketing WKL products.
http://www.growfish.com.au/content.asp?ContentId=8213

Stewart Graham sold all of his AAQ shares if I recall, and then resigned as Chairman. Perhaps it was his involvement in WKL which caused him to leave AAQ?

[Basilica]

Stewart Graham sold all of his AAQ shares if I recall, and then resigned as Chairman. Perhaps it was his involvement in WKL which caused him to leave AAQ?

You are right Grace He sold all but 480,000 which is nearly all. AAQ may still lose their 25,000,000 shares in WKL

[Basilica]

:) correction it is only 2.5 milloin shares not 25 million
I do like this company. Their quality marketing focus and experienced management is a good sign.

[Basilica]

ASX annoucement today

"Australis Aquaculture Limited (ASX: AAQ) today announced that it has received an additional
US$1,000,000 loan from WM Capital, an affiliate of existing shareholder Conti Street Partners, LLC.
The funds will be used principally for working capital purposes.
The loan brings total loans to Australis by WM Capital to US$2,750,000. Under the terms of the
agreement, the current loan will be consolidated with the two Loan Notes issued in September and
October 2008 into a single Note Agreement that extends the maturity date of the prior Notes from
December 31, 2008 to January 31, 2009. The Note Agreement carries an interest rate of 15.0% p.a.
and grants WM Capital a second security interest in the Company’s assets after the Company senior
bank lender."

WOW 15% for a secured convertable note of $2.75 million Thats $412,000 / year in interest. I wonder who sold the 500,000 shares on Friday and what is the converting price for the shares.

[tge oracle]

Fellow aquaculture investors, be very cautious on this company. I am not at all impressed by the recent capital injection anouncement i.e. 1 M @ 15% p/a interest secured. This sounds awfully like desparation to me. I did predict the demise of WKL prior to it's delisting. I am not saying AAQ will necessarily go the same way, but beware!
I don't own AAQ but I am a holder of TGR and CSS which I believe offer great opportunities to aquaculture investors.

[grace]

Fellow aquaculture investors, be very cautious on this company. I am not at all impressed by the recent capital injection anouncement i.e. 1 M @ 15% p/a interest secured. This sounds awfully like desparation to me. I did predict the demise of WKL prior to it's delisting. I am not saying AAQ will necessarily go the same way, but beware!
I don't own AAQ but I am a holder of TGR and CSS which I believe offer great opportunities to aquaculture investors.

Australis is managed by the ex-Tassall manager so I do like management.

However, I don't like the thought of paying 15% interest rate to anyone!:D

[tge oracle]

Further warning investors, today's announcement to secure the services of yet another credit head hunter adds more concern. They are obviously chewing through the cash and will need to secure more funds soon. I see this announcement as a desparate attempt to raise more funds without that dreaded sentence " capitall raising from shareholders required ". This will decimate the share price and may not succeed. At best, it will dilute the share price to that of a penny dreadful!

[grace]

Further warning investors, today's announcement to secure the services of yet another credit head hunter adds more concern. They are obviously chewing through the cash and will need to secure more funds soon. I see this announcement as a desparate attempt to raise more funds without that dreaded sentence " capitall raising from shareholders required ". This will decimate the share price and may not succeed. At best, it will dilute the share price to that of a penny dreadful!

From the announcements I read, I think they are head hunting institutional placements. They were to be cashflow positive 08/09. The next quarterly due by the end of the month will be crucial for them. I hold.

[tge oracle]

From the announcements I read, I think they are head hunting institutional placements. They were to be cashflow positive 08/09. The next quarterly due by the end of the month will be crucial for them. I hold.

Yes Grace that is precisley what they are trying to do, but at what price? There will be precious little for share holders if they keep borrowing at 15% and any new shareholder would expect a similar deal.
I am very optimistic about the aquaculture industry generally and will continue to keep a close watch on this stock but have no intention of investing until I have better clarity.
Good luck with your holding, I hope you are not dissapointed.

[Basilica]

1 M @ 15% p/a interest secured. This sounds awfully like desparation to me.

Hi tge oracle From my brief reading of the announcement, it is more than 1M @ 15%, they rolled over the previous converting notes from the same investor to the higher interest rate so it is 2.75 M @ 15 % secured. (but it was not precise wording in the announcement)

Hi Grace, i think 08/09 in profit is optimistic,I doubt the fish in the Asian cages will be ready for market by then and will still be eating lots of expensive feed into 09/10. But who knows for sure, the water is warm up there and they do grow quickly in those conditions.

[tge oracle]

Hi tge oracle From my brief reading of the announcement, it is more than 1M @ 15%, they rolled over the previous converting notes from the same investor to the higher interest rate so it is 2.75 M @ 15 % secured. (but it was not precise wording in the announcement)

Hi Grace, i think 08/09 in profit is optimistic,I doubt the fish in the Asian cages will be ready for market by then and will still be eating lots of expensive feed into 09/10. But who knows for sure, the water is warm up there and they do grow quickly in those conditions.

Hi Basilica, yes you are right. This raises the risk profile considerably more. I can't see how they can possibly make a profit for shareholders paying 15%. Expect more capital raising amd siginificant dilution of existing shares.

[tge oracle]

I don't like to dwell on the dissapointing announcment form this company today, but my earlier posts did warn you of the consequences of holding on to this stock. I don't believe they will achieve a better financial outcome than has been provided by WM Capital, as unpallitable as it is, because nobody is lending to this type of entity.
I don't know where this will end up, but it won't be a better deal for share holders, that's for sure.
I don't hold this stock, but I am a diverse aqualculture investor. I do own TGR and CSS and these offer aquaculture investors a much better opportunity, particularly CSS if they succeed with SBT breeding success.

[grace]

I don't like to dwell on the dissapointing announcment form this company today, but my earlier posts did warn you of the consequences of holding on to this stock. I don't believe they will achieve a better financial outcome than has been provided by WM Capital, as unpallitable as it is, because nobody is lending to this type of entity.
I don't know where this will end up, but it won't be a better deal for share holders, that's for sure.
I don't hold this stock, but I am a diverse aqualculture investor. I do own TGR and CSS and these offer aquaculture investors a much better opportunity, particularly CSS if they succeed with SBT breeding success.

Thanks for drawing my attention to aaq again.:)

I sold off 2/3 of my holding prior to halt. That was a bit of luck.

[tge oracle]

Thanks for drawing my attention to aaq again.:)

I sold off 2/3 of my holding prior to halt. That was a bit of luck.

Good to hear you were able to reduce your holding, sadly, I think the share price will be significantly lower after the trading halt is lifted.
There is nothing fundamentaaly wrong with this company, they have simply been caught with too much debt and high working capital requirements at the worst time, like so many other companies.
If they are going to survive I think they will need to swallow a vey bitter pill and this will siginicantly dilute existing shareholders. But they will have to try to entice a substantial investor with a discount share issue. They have success doing a capital raising with existing shareholdesr but they are going to have to come up with a credible plan for the future and , again, the share price would be dramitically below last closing price.

[grace]

Thanks for drawing my attention to aaq again.:)

I sold off 2/3 of my holding prior to halt. That was a bit of luck.

own 1/3 too much! Voluntary Administrators gone in today. My first holding ever that has gone down that track. I should have been paying more attention before now. Luckily, only a few $$$, but would have been better spent on the kids at Christmas!

[tge oracle]

own 1/3 too much! Voluntary Administrators gone in today. My first holding ever that has gone down that track. I should have been paying more attention before now. Luckily, only a few $$$, but would have been better spent on the kids at Christmas!

Sorry to hear that AAQ is your first ever investemnt and that the administrators have been called. Having been investing for many years everybody, and I mean everybody ( think packer/ murdoch - ONE TEL) suffers this experience at some time during during their investing career. Try to learn from your experience, you will begin to see the warning bells and cut your losses and move on to better investments.

My own poor investments have taught me some very important lessons:

1. Never fall in love with a stock / investment.
2. If you have doubts go with your gut instinct and get out, eveb if it means a loss.
3. Undserstand what you are investing in and understand the risks.
4. Actively follow your investment. Regularly read reports / announcements etc. and this includes comments on forums such as this. There are a lot of rampers on stock forums but there are also a lot of learned investors with valuable comments / opinions.

I hope you regain your losses in your next investment.

[grace]

Sorry to hear that AAQ is your first ever investemnt and that the administrators have been called. Having been investing for many years everybody, and I mean everybody ( think packer/ murdoch - ONE TEL) suffers this experience at some time during during their investing career. Try to learn from your experience, you will begin to see the warning bells and cut your losses and move on to better investments.

My own poor investments have taught me some very important lessons:

1. Never fall in love with a stock / investment.
2. If you have doubts go with your gut instinct and get out, eveb if it means a loss.
3. Undserstand what you are investing in and understand the risks.
4. Actively follow your investment. Regularly read reports / announcements etc. and this includes comments on forums such as this. There are a lot of rampers on stock forums but there are also a lot of learned investors with valuable comments / opinions.

I hope you regain your losses in your next investment.

Thanks. My typing must have been a bit fast. This is my first holding gone into administration....not my first holding ever. My first ever holding was the Woolworths float back in 92/93. I own some 30 stocks now (mostly purchased in the last 2 years). I have been lucky with some, unlucky with others.

Point 2 - gut instinct was there for the last couple of months.....yes, should follow instinct. I did with MON and got out before it went belly up.

[tge oracle]

Thanks. My typing must have been a bit fast. This is my first holding gone into administration....not my first holding ever. My first ever holding was the Woolworths float back in 92/93. I own some 30 stocks now (mostly purchased in the last 2 years). I have been lucky with some, unlucky with others.

Point 2 - gut instinct was there for the last couple of months.....yes, should follow instinct. I did with MON and got out before it went belly up.

Tks for the clarification Grace. I am sure you will re-coup this loss over time and get to use it as a tax loss for future profits. All the best, I guess this forums finished now....time to move on!

[grace]

Tks for the clarification Grace. I am sure you will re-coup this loss over time and get to use it as a tax loss for future profits. All the best, I guess this forums finished now....time to move on!

Yes, australis sounded all a bit fishy at the end.:D

Thanks again, if it wasn't for your posts that gave me some push, I would have still held the lot.:)

[TDavo]

We have just received notification that our AAQ shares were moved from CHESS to Issuer Subregister on our Chess Statement. I am fully aware of the suspension of trading - and administrators etc but has anyone heard anymore - I am presuming the shares in this a gone but this is the only notification we have had since the 28 april notification of name change and prior to that - administrator letter. Has anyone heard any more about it?

[nizora]

We have just received notification that our AAQ shares were moved from CHESS to Issuer Subregister on our Chess Statement. I am fully aware of the suspension of trading - and administrators etc but has anyone heard anymore - I am presuming the shares in this a gone but this is the only notification we have had since the 28 april notification of name change and prior to that - administrator letter. Has anyone heard any more about it?

AAQ has now been relisted with the ASX. For former shareholders please contact Rod Somes @ 08932332003 or rod.somes@computershare.com.au for new holding statements.

[Morgan]

AAQ has now been relisted with the ASX. For former shareholders please contact Rod Somes @ 08932332003 or rod.somes@computershare.com.au for new holding statements.

Have done this now and just received an Issuer Sponsored Holding Statement for the reconstructed shares.
Anyone know how to get these back onto CHESS so that I can sell them (for the tax loss of course...)?

Thanks.