CSS - Clean Seas Seafood

[drlog]

Re: CSS - Clean Seas Tuna

Yeah, I dont expect it to go much further south. 24c seems to be the support (I never thought I would say something technical like that). Anyway, I guess the next announcement that we are waiting for would be the half year report but I don't expect much information about the SBT in it.

Let's see if they announce something in March when they are supposedly moving the fish to the grow out stage. Heh, it would be funny if they just never said anything at all about it and in 2012, the financial statements suddenly showed enormous profits with a 24c dividend Ok, I'll stop daydreaming now.

All of this talk about fish is making me hungry

Yes, I hold.

 

[Basilica]

Re: CSS - Clean Seas Tuna

Did anyone else watch the SBS program on Fish and Japan last night? They had an interesting segment on KIKI university and NBT breeding. One point that stuck into my mind is that it takes 10kg of Macrel to grow 1kg of tuna. Lower FCR than i thought.

 

[tge oracle]

Re: CSS - Clean Seas Tuna

Did anyone else watch the SBS program on Fish and Japan last night? They had an interesting segment on KIKI university and NBT breeding. One point that stuck into my mind is that it takes 10kg of Macrel to grow 1kg of tuna. Lower FCR than i thought.

Yes, I watched this program Basilica.
The growth rates ( timeframe ) and FCR is the main concern I have with SBT.
To give you some examples of FCR :

1. Tassal Salmon - 1.5 / 1.0
2. Chicken - 2.5 / 1.0 ( Note : Chicken feed is low cost )
3. YTK ( Cleanseas ) - 4.0 / 1.0
4. SBT - 10 / 1.0 ( wild mackeral )

You can see from this table that Cleanseas has been unable to improve the FCR for YTK and this is, partly, why they are struggling with profitibilty.
I have concerns that they will not be able to acheive an acceptable FCR for SBT which will need around 3 years growout time.
The 10 / 1.0 is for wild caught mackeral and would be commercially unviable for CSS if this was to be their FCR for SBT, however, they will be relying on Ridley SBT feedmix to lower this FCR. It will need to be a substantial improvement on the Kinki FCR highlighted in the program.

 

[drlog]

Re: CSS - Clean Seas Tuna

I thought CSS had developed (with the help of some other Aussie company) a new type of feed that is cheap to manufacture? This means that the cost of food for the SBT is significantly lower than mackeral making this a moot proposition.

Please correct me if I am wrong.

 

[Basilica]

Re: CSS - Clean Seas Tuna

Yes, I watched this program Basilica.
The growth rates ( timeframe ) and FCR is the main concern I have with SBT.
To give you some examples of FCR :

1. Tassal Salmon - 1.5 / 1.0
2. Chicken - 2.5 / 1.0 ( Note : Chicken feed is low cost )
3. YTK ( Cleanseas ) - 4.0 / 1.0
4. SBT - 10 / 1.0 ( wild mackeral )

You can see from this table that Cleanseas has been unable to improve the FCR for YTK and this is, partly, why they are struggling with profitibilty.
I have concerns that they will not be able to acheive an acceptable FCR for SBT which will need around 3 years growout time.
The 10 / 1.0 is for wild caught mackeral and would be commercially unviable for CSS if this was to be their FCR for SBT, however, they will be relying on Ridley SBT feedmix to lower this FCR. It will need to be a substantial improvement on the Kinki FCR highlighted in the program.

Hi Oracle, One factor i should have stated is the difference between dry and wet feed when comparing FCR. The Mackeral is wet and contains a lot of water weight that does not contribute to SBT weight. In your list
1 Tassal 1.5:1 is dry weight
2 Chicken 2.5:1 ??? not sure
3 YTK 4:1 ??? dry weiight i think
4 SBT (mackeral) 10:1 Wet weight
Do you know if 2 and 3 are wet or dry?

A credit to CSS and ridley is the work in developing products to lower final feed cost.

 

[Basilica]

Re: CSS - Clean Seas Tuna

I thought CSS had developed (with the help of some other Aussie company) a new type of feed that is cheap to manufacture? This means that the cost of food for the SBT is significantly lower than mackeral making this a moot proposition.

Please correct me if I am wrong.

You are correct drlog. I think it is Ridley and are blending land based protien (chicken etc) with fish meal. Some market resistance to land based feed is anticipated from fussy customers, but little facts are known if SBT quality will suffer or perhaps even improve.

 

[tge oracle]

Re: CSS - Clean Seas Tuna

Hi Oracle, One factor i should have stated is the difference between dry and wet feed when comparing FCR. The Mackeral is wet and contains a lot of water weight that does not contribute to SBT weight. In your list
1 Tassal 1.5:1 is dry weight
2 Chicken 2.5:1 ??? not sure
3 YTK 4:1 ??? dry weiight i think
4 SBT (mackeral) 10:1 Wet weight
Do you know if 2 and 3 are wet or dry?

A credit to CSS and ridley is the work in developing products to lower final feed cost.

Basilica,

Chicken feed is small dry pellets. CSS's YTK feed is dry feed distributed by their recently launched feeding barge " Ulysses " .
I think they will need to get their FCR down to at least 2.5 : 1 for both YTK and SBT in order to maintain cost control during the growout period.

 

[Basilica]

Re: CSS - Clean Seas Tuna

Basilica,

Chicken feed is small dry pellets. CSS's YTK feed is dry feed distributed by their recently launched feeding barge " Ulysses " .
I think they will need to get their FCR down to at least 2.5 : 1 for both YTK and SBT in order to maintain cost control during the growout period.

Ahh, i misunderstood you before. You mean pellets for chickens and not pellets from chicken? I read they were going to try alternative protien from land animals. May be wrong though.

 

[Qjumpa]

Re: CSS - Clean Seas Tuna

EU proposes ban on commercial bluefin tuna fishing


Feb 22, 2010 06:26 EST

The European Commission said Monday it is proposing that a ban on commercial bluefin tuna fishing, to protect the fish much prized by Japanese sushi lovers, come into force next year.
"We have no other choice but to act now and propose a ban on commercial fishing," EU Environment Commissioner Janez Potocnik told a Brussels press conference.
National governments across the European Union must now approve the commission's proposal, ahead of a meeting in March in Qatar of the United Nations body that decides whether species are listed as endangered.
Source: AFP Global Edition

 

[drlog]

Re: CSS - Clean Seas Tuna

Looks like this could get very interesting even for people who have never heard of CSS:

http://www.nytimes.com/2010/02/20/business/energy-environment/20tuna.html

All CSS needs to do is grow the current SBT fish and get them to Japan

 

[Basilica]

Re: CSS - Clean Seas Tuna

Volume is much higher today compared to recent days. Perhaps some details of the expected announcement is leaking a little. The move seems to be down.

 

[drlog]

Re: CSS - Clean Seas Tuna

Volume is much higher today compared to recent days. Perhaps some details of the expected announcement is leaking a little. The move seems to be down.

Interesting. Their half year report should be coming out very soon, perhaps that is it?

Heh, or perhaps it is the fact that they said the report would be out in mid Feb but it isnt out yet and people are getting skittish

 

[Qjumpa]

Re: CSS - Clean Seas Tuna

Interesting. Their half year report should be coming out very soon, perhaps that is it?

Heh, or perhaps it is the fact that they said the report would be out in mid Feb but it isnt out yet and people are getting skittish

Hey drlog,
The guys in TS say the interim report and update will be released on 26 Feb 2010.
I think the market is spooked by the news headlines “SA tuna industry coming to an end” which is really only the Port Lincoln tuna cannery operation finishing up as expected for some time now...Bad reporting!
But, i reckon they’ve delayed releasing this interim report and update until this news went to press...

The crossroads for CSS may just be around the corner IMO...

I may pick up some more cheap cheap

 

[Nero64]

Re: CSS - Clean Seas Tuna

Judging by last announcements their Interim should be between the 23rd-26th Feb, but I can't see any definite time listed. Not sure what positive results it could bring except to say they are debt free and progressing favourably with the spawning.

They have another spawning update in March, so they say.

If they could spend as much time in promoting themselves through the print and media instead of hiding behind a flashy website the stock price might acutally go up.

It's like they don't have confidence in their own ability and it is showing through.

Support has been broken and it slowly sliding away. Something needs to be done.

 

[drlog]

Re: CSS - Clean Seas Tuna

udging by last announcements their Interim should be between the 23rd-26th Feb, but I can't see any definite time listed. Not sure what positive results it could bring except to say they are debt free and progressing favourably with the spawning.

They have another spawning update in March, so they say.

If they could spend as much time in promoting themselves through the print and media instead of hiding behind a flashy website the stock price might acutally go up.

It's like they don't have confidence in their own ability and it is showing through.

Support has been broken and it slowly sliding away. Something needs to be done.

In March, it wont be a "spawning update", it will be a "we have SBT in cages at sea" update. At the moment, the fish are spawning and eating rotifers.

Anyway, they said that they are keeping quiet because they have industry secrets to lose. Its a bit strange at the moment - this phase is going to make or break the company but they cant tell us about it...grrr!

Heh, at 23c they are super cheap considering they were above 30c and no new news has come out since!

 

[Sdajii]

Re: CSS - Clean Seas Tuna

In March, it wont be a "spawning update", it will be a "we have SBT in cages at sea" update. At the moment, the fish are spawning and eating rotifers.

Anyway, they said that they are keeping quiet because they have industry secrets to lose. Its a bit strange at the moment - this phase is going to make or break the company but they cant tell us about it...grrr!

Heh, at 23c they are super cheap considering they were above 30c and no new news has come out since!

I am biting my nails while waiting for the "they're in offshore cages" announcement. I think they are currently undervalued, but investor confidence is obviously very low (hardly surprising since we are being deliberately kept in the dark at times, while being poorly updated at others, in my opinion). If the survival rate is good and the fish get into offshore cages I think we'll have reason to be excited, and if the price reflects that we'll have a fairly increase in share price, and if growth in the offshore cages is good (very likely) you would have to expect some very nice gains. So, if the numbers which go into the offshore cages is good, my prediction is that it will be a great time to buy. Of course, if survival of the larvae is poor and the next announcement is that few or none will be going to sea, I'm going to be kissing most of what's left of my money goodbye, because with confidence already so low another year of delay is going to prevent anyone from coming on board.

 

[Basilica]

Re: CSS - Clean Seas Tuna

Interesting. Their half year report should be coming out very soon, perhaps that is it?

Heh, or perhaps it is the fact that they said the report would be out in mid Feb but it isnt out yet and people are getting skittish

The punters do hate delays in announcements.

In March, it wont be a "spawning update", it will be a "we have SBT in cages at sea" update. At the moment, the fish are spawning and eating rotifers.

Anyway, they said that they are keeping quiet because they have industry secrets to lose. Its a bit strange at the moment - this phase is going to make or break the company but they cant tell us about it...grrr!

Heh, at 23c they are super cheap considering they were above 30c and no new news has come out since!

23c does seem cheap but it may still get cheaper

I am biting my nails while waiting for the "they're in offshore cages" announcement.

That part of the announcement will happen sometime. I am also hanging out for the Cash burn rate. When i buy in there will be enough cash to last until the company produces cash. Cap raising has been brutal to current holders of this stock.

 

[steveba5]

Re: CSS - Clean Seas Tuna

I am concerned, make that deeply concerned. I've bought in on several occasions. The highest price I paid was 58c and not long after that I think the SP was almost 80c. My break even point is much lower and the longer this goes the higher the gains that are required just to break even.
I'll hold for the simple reason that I now have much less to lose! Even if they hit 10c I won't be buiyng more.
CSS need to get some good results and they need them quick. The economy is becoming shakier by the day and if they're planning on another capital raising in the futre then they won't get any interest if this current trend continues. Banks won't go near CSS. I thought the last SPP price of 25c was way too low but in hindsight, it was high and everyone that took part has now lost narly 10%

 

[Basilica]

Re: CSS - Clean Seas Tuna

I am concerned, make that deeply concerned. I've bought in on several occasions. The highest price I paid was 58c and not long after that I think the SP was almost 80c. My break even point is much lower and the longer this goes the higher the gains that are required just to break even.
I'll hold for the simple reason that I now have much less to lose! Even if they hit 10c I won't be buiyng more.
CSS need to get some good results and they need them quick. The economy is becoming shakier by the day and if they're planning on another capital raising in the futre then they won't get any interest if this current trend continues. Banks won't go near CSS. I thought the last SPP price of 25c was way too low but in hindsight, it was high and everyone that took part has now lost narly 10%

The economy is still shakey. Fresh Tuna is a luxury product but good times will happen again. I am unaware of anyone predicting that a further Cap raising will not be needed before the prized tuna arrive at a Japanese fishmonger.

 

[McCoy Pauley]

Re: CSS - Clean Seas Tuna

I understand from a mate who holds CSS (disclosure - I do not) that CSS is due to report tomorrow.

DYOR.