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CSS - Clean Seas Seafood

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Re: CSS - Clean Seas Tuna

11am AEDT on 26/2/10 and still no report from CSS.

Instead, we get a fluff interview in the Oz between Switzer and Hagen Stehr here.

No wonder the more impatient traders are divesting themselves of CSS at 21-22c per share this morning.
 
Re: CSS - Clean Seas Tuna

I have found from watching this stock that South Australians (particularly those from Port Lincoln) are on a different time zone and don't care too much about us in the eastern states. Should be out after lunch I am guessing.
 
Re: CSS - Clean Seas Tuna

I am from SA and tend to disagree but I am from Adelaide and tend to agree with the whole country slowness hypothesis you have put forward.

Just be glad this isn't based in Darwin
 
Re: CSS - Clean Seas Tuna

McCoy Pauley said:
11am AEDT on 26/2/10 and still no report from CSS.

Instead, we get a fluff interview in the Oz between Switzer and Hagen Stehr here.

No wonder the more impatient traders are divesting themselves of CSS at 21-22c per share this morning.
Click to expand...

Thanks for the link Pauley, I did not find the artical at all encouraging. Hagen is not preaching imminent success as usual but deep pocket and the heading never say die is suss. did we get informed of the status of previous spawnings. Did the handfull of fish that survived grow to a year + old or did they all die.
 
Re: CSS - Clean Seas Tuna


The article was mostly fluff, but it wasn't particularly discouraging. The fact is, they say they have worked out how to do it now, and if that is true they will be demonstrating it this year. If that happens we will have everything required to successfully farm these things and it's just a matter of scaling the infrastructure up and getting it done (which would obviously require capital raising). The potential for profit here is huge, with SBT being so scarce now and the demand being so strong. There is talk of cutting quotas of wild harvest to zero, and the Japanese ignoring that (which won't take long to result in next to zero harvest regardless of quotas, so either way there aren't going to be many SBT coming out of the ocean for long), so anyone able to supply them is going to be in a very nice position.

Of course, if they are lying or wrong due to overconfidence and they don't successfully raise at least 5-10 thousand tuna to the stage where they can be put in the offshore tanks... ouch. Once they're large enough to get into offshore tanks it's just a matter of raising them. That part isn't rocket science, they're just animals needing food, water and time. It's only the larvae which are sensitive.

They didn't even try to raise the small number of fish from last season using proposed methods, they were just kept in fish tanks as display animals so photographs could be taken and visitors could actually watch them swimming around. There seems little point in putting a dozen fish into a giant offshore cage designed to hold thousands. If you're familiar with fish breeding you'll know that the most critical time is over the first few days after hatching, and for the first few weeks they look and behave like a different species of fish from the adults. After a few weeks they are looking and behaving like small versions of the adults, and it isn't a question of whether or not they will survive but a question of how fast they will grow, how efficient they will be at converting feed to meat, and what the quality will be like.

Fingers crossed for an announcement any minute.
 
Re: CSS - Clean Seas Tuna

Report is available on ASX.
The market doesn't seem to like it. Down almost 55%.

The first few pages didn't seem that bad. I'll keep reading or maybe I missed something?
 
Re: CSS - Clean Seas Tuna

steveba5 said:
Report is available on ASX.
The market doesn't seem to like it. Down almost 55%.

The first few pages didn't seem that bad. I'll keep reading or maybe I missed something?
Click to expand...

Whel i certainly have not read it fully yet but it seems the cash will run out this year leading to either debt or capitol raising. Not much info on SBT status except they are not in the sea cages yet so they may wait until the water warmes up after winter. last trade 17c bid only 15c. worse than i expected.

10c now
 
Re: CSS - Clean Seas Tuna

steveba5 said:
Report is available on ASX.
The market doesn't seem to like it. Down almost 55%.

The first few pages didn't seem that bad. I'll keep reading or maybe I missed something?
Click to expand...

Seems a little crazy report did not seem that great but not that bad either. Massive massive drop, I grabbed a parcel at .110 but not overly confident at all any more.
 
Re: CSS - Clean Seas Tuna

The spawned fish died. The "larval rearing system" also has not been finished and won't be finished at least before 2011. Results did not meet the overblown promises previously made (in hindsight).

That's why the market has savaged CSS.
 
Re: CSS - Clean Seas Tuna

McCoy Pauley said:
The spawned fish died. The "larval rearing system" also has not been finished and won't be finished at least before 2011. Results did not meet the overblown promises previously made (in hindsight).

That's why the market has savaged CSS.
Click to expand...

They died???? Where did you see that Pauley. I read the oldest is 38 days but not that they are not still alive.
 
Re: CSS - Clean Seas Tuna

Basilica said:
They died???? Where did you see that Pauley. I read the oldest is 38 days but not that they are not still alive.
Click to expand...

The key sentence is this one:

CSS said:
The program to date has raised new challenges and the oldest fingerlings survived to 38 days old and were activing feeding on live feed.
Click to expand...

Note the past tense.

Further on in the paragraph it says that CSS is conducting a detailed review of the season to date (ie., to find out what they did wrong to kill the fingerlings).

Proof is in the pudding. Market reckons the fish died so they're selling CSS because, currently, they're full of hot air.

IMO, given they've done three capital raisings in the last 12 months and severely disappointed the market, they'll struggle to raise more funds from the market. They might have to find a venture capitalist ready to risk a few mill on the chance the technology will pay off.
 
Re: CSS - Clean Seas Tuna


I think you are right. you are a master of launguage. Yes it is past tense. The lucky insiders may have sold early in the week and that was the unexplained turnover. They have always spoke overly optimistically but they should have come out and said DEAD. The next Cap raising will be a few cents each based on previous integrity.
 
Re: CSS - Clean Seas Tuna

I have been watching and waiting for the announcement prior to buying in (thank goodness). Surely the fish didn't just die this morning?! Are wonder if there are some ruling implications for not advising the market of this monumental news when it actually occured?
 
Re: CSS - Clean Seas Tuna

ASX RELEASE


There it is. The company still post and act like all is going well.

I think the writing was on the wall when they didn't get the full take up offer at 25c.

If you got out at above 30c then you were the lucky ones!
 
Re: CSS - Clean Seas Tuna

Is anyone still HOLDING? I can't sell at 10 cents. Ling Term anything can still happen. I agree those that did wait or got out at above 30 cents are the lucky ones. Its not worth selling my 5k package I bought now for 1.7k. Give them 5 years and I think they will have all the R & D downpacked. But the only problem is now someone else winning the race internationally and successfully breeding SBT or NBT in that case.

Right now all im doing is
 
Re: CSS - Clean Seas Tuna


I totally agree WiseMum, they should have suspended trading and informed the market. the fish did not die all at once or this morning. There will be no implications as ASIC is a lame toothless underfunded regulator the worst that will happen is ASIC askes a "Please Explain" and CSS will say sorry. I am still waiting for the right time to invest but dont think it iwill be soon.

The Auditor only signed today??
 
Re: CSS - Clean Seas Tuna


Wouldn't be surprised if the ASX issues a "please explain" for (a) not advising the market when the last fingerling died and (b) why a trading halt was not requested given that CSS knew or ought reasonably to have suspected what would happen to the SP once the report was released.
 
Re: CSS - Clean Seas Tuna

ASX
Spawning commenced on 14 January 2010 and intermittent spawning events occurred over the next month. At present, the broodstock are showing positive courting behaviour and may recommence spawning in March as in previous years.
Click to expand...

The way I read it, even though the current batch of fingerlings are dead, the next spawning batch is not far away, isn't this good news???
 
Re: CSS - Clean Seas Tuna


Heh, I am in the same boat as you. There is no point in selling now unless you made profit somewhere else to offset and want to get out of CSS altogether.

I don't see it as ALL bad news though. There could be some more spawning still but they are burning cash very fast.
 
Re: CSS - Clean Seas Tuna


I am not a huge expert about the sharemarket and bought these as already was a small holder after a mate recommended them a while back. So at the time of the SPP I had just inherited some money and its looks to have been very wisely. Luckily I only invested around 5 % of my total inheritance. Looks like property for me now. Nice and safe.

I believe long term clean seas will succeed. But I am worried about the cash situation. But the worry has is not as bad as it could have been. I believe ellice flint will do great things for CSS. There is no point me selling for a 3k loss. So looks like its a 3 year project for me now. As long as they dont go bankrupt.
 
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