Having actually been to their pearl farm located at Penyambangan village, North Bali and viewed the hatchery as well as their operation I would say their ability to grow pearl is second to none in the practices they currently have implemented. The retail outlets that I viewed in Sanur and on site are very classy and professionally set out. I personally purchased golden 17mm perfet AAA rounds for my collection from Atlas and the service was second to none. I still receive Christmas cards and personal invitations to their "openings".
As for a stock I do not have any relevant information in regards to how well they are producing pearl (as in numbers), the outlets that they are supplying wholesale or retail or even a global strategy. Their pearls are grown on a bottom culture style over coral from seeding and not on string panels. This allows for a better quality pearl to be grown. The hatchery in place also has a very good success rate of spat which is critical for the supply of a pearl farm due to kill numbers.
Who the Directors are or what the future holds unfortunately I cannot offer any information. Not really followed the philosophy of the direction of the company but can advise the pearls they produce are of a very high quality with worlds best practice in play. Hope this helps.
Really appreciate that report. Nothing beats being able to kick the tyres. Your information backs up the article in their latest newsletter. I was considering a long term investment and your information certainly helps.
My pleasure Rod. Australias pearling industry has taken a dive since the GFC as well as Indonesia being able to produce such good quality South Sea Pearl (Pinctada Maxima) has not helped the likes of Paspaley and Linneys. Apparently dollar turnover has fallen from 250 million to 110 million and only employing 400 people down from over 1000 or so in the last 18 months.
Atlas has the advantage of very cheap labour and a friendly Govmint that has no restrictions or quotas on production. Water is pretty clean considering where they are located and even though the farm itself is pretty crude (not mechanically modernised) the pearls still keep coming. Maybe that is their secret?
I would jump in a plane and fly to Bali to check out their operation before spending my hard earned if it was me. Could be a tax deduction if you decide to invest?
At my pearl farm we are not growing the Maxima shell and do not have the volume of producing oysters as Atlas has achieved. But still obtaining good results thus far with lustre and nacre. SIZE is the issue !
Looking at their website they are claiming 8% return of the value of shares in 2007. Seeding results stop in 2006 as well. Not much data after that to really get a tangible grip on what they are actually offering? I notice in their 2009 annual report they also make this statement in regards to dividends?
There were no dividends declared and paid by the Company during the financial year ended 31 December 2009. (2008: Interim dividend of 2 cents per share totalling $1,800,918 paid on 18 July 2008).
Page 28 also freaks me out a bit on the PL's with an 8 million dollar LOSS. Mainly contributed to "Other expenses" which seems to keep doubling every year?
Anyways ....... Like I said ... I have a producing pearl farm that is doing quite well thank you. PM me if you want some more details.