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21-08-2014, 11:25 PM
#241
Originally Posted by Dentie
Like most (all?) shareholders, I of course want to see them profitable as soon as possible. I also want to see them with a cash surplus from their "trading" operations and asked that question as well, but Sean Joyce shook his head on that as well. I think they should be allowed to openly share these financial type of questions with their shareholders (after all, they do own the company right?) but the rules around "protected" or "privileged" disclosure prevent them from doing so. It would put the company in hot water with the authorities and we don't want that!
There was no alarm bells here Apathy - they will have a good idea within the Board when they will be profitable - based on information they have at any one time and that includes Ross Keeley the CEO. They just can't share it with a selected few - not fair to others. So, for the rest of us, we just have to interpret/analyse the available financial info and make our own guesses.
There seems to have been a lot of thought go into the new factory in Nelson and, as a shareholder, I expect them to invest in the latest technology, plant & equipment in order to grow their operations. The factory itself is being purposely built for them and is being paid for by the Land Owner. They have negotiated forward contracts of supply of material - as well as customers for the end product. I'm happy that they are on track - but business is business and anything can happen - all they can do is control what they can in order to de-risk any uncertainties. They seem to have done that.
1) the supply contracts and orders have nothing to do with the new factory. The new factory in fact has neither.
2) they must be the only company on the NZX unable to provide profit guidance?
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22-08-2014, 05:38 AM
#242
Originally Posted by Apathy
1) the supply contracts and orders have nothing to do with the new factory. The new factory in fact has neither.
Thanks A, I thought so. Do you have a reference to any announcement about them looking at anchovies ? And wasn't that their point of difference, that they wouldn't be using anchovy like everyone else?
I presume a suitable supply of Hoki will never be available, which is what I thought the guts ( excuse the pun) of the business was going to be based on?
Last edited by biker; 22-08-2014 at 05:44 AM.
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22-08-2014, 09:44 PM
#243
Originally Posted by biker
Thanks A, I thought so. Do you have a reference to any announcement about them looking at anchovies ? And wasn't that their point of difference, that they wouldn't be using anchovy like everyone else?
I presume a suitable supply of Hoki will never be available, which is what I thought the guts ( excuse the pun) of the business was going to be based on?
Smoke and mirrors - the Hoki Catch is 150,000mt - its one of the least 'oily fish' out there (half that of salmon) and they only will have access (at best) to the waste that gets processed on shore. Given the omega 3 content in a fillet is .2% doesn't take a rocket scientist to work out that you won't be producing 5000mt of oil from that source. Salmon production is 1/10th of that.
Anchovies have been referred to a bit more lately - as well as Tuna (now there is a growth supply!) http://www.stuff.co.nz/nelson-mail/n...s-local-supply
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23-08-2014, 12:46 PM
#244
From today's Dom Post:
SeaDragon seeks fully NZ fish oil _ Stuff.co.nz
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23-08-2014, 10:24 PM
#245
Originally Posted by NT001
From today's Dom Post:
SeaDragon seeks fully NZ fish oil _ Stuff.co.nz
Great article - "But the company has had to make a plea to the domestic seafood industry for help, as it looks to import close to $10 million in raw materials this year.The listed Nelson-based company said in June that it had secured a second major sales contract that would boost annual revenue to at least US$6 million (NZ$7.08m)."
Strikes me as strange - plant is flat out 24/7 for next 18 months - annual revenue boosted to $7m (assume raw material content less than half of that) so they are purchasing almost triple what they can produce?
They can make these sort of nonsensical statements but can''t tell anyone when they will be profitable as its 'price sensitive' ..
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24-08-2014, 10:05 AM
#246
Originally Posted by Apathy
Great article - "But the company has had to make a plea to the domestic seafood industry for help, as it looks to import close to $10 million in raw materials this year.The listed Nelson-based company said in June that it had secured a second major sales contract that would boost annual revenue to at least US$6 million (NZ$7.08m)."
Strikes me as strange - plant is flat out 24/7 for next 18 months - annual revenue boosted to $7m (assume raw material content less than half of that) so they are purchasing almost triple what they can produce?
They can make these sort of nonsensical statements but can''t tell anyone when they will be profitable as its 'price sensitive' ..
Have a look at Certified Organics and ICP Bio - gives an idea of how some companies manage their PR.
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26-08-2014, 02:07 AM
#247
Originally Posted by Balance
Have a look at Certified Organics and ICP Bio - gives an idea of how some companies manage their PR.
Indeed - that's the company they are keeping which is shame. Seems to me they want to bet the house on new factory new product with no sales or raw materials instead of getting the shark oil business working - which it sounds like it could be.
That said the erratic releases probably bring that into question as well.
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26-08-2014, 06:44 AM
#248
Originally Posted by Apathy
Indeed - that's the company they are keeping which is shame. Seems to me they want to bet the house on new factory new product with no sales or raw materials instead of getting the shark oil business working - which it sounds like it could be.
That said the erratic releases probably bring that into question as well.
Apathy - why are you so down on this Company? You have done nothing but bitch and moan and degrade and be generally negative no matter what SEA try and do. Is there something personal you've got going on with the firm that the rest of us don't know about?
Listen, I get that you don't like SEA...and that's fine. But unless you are prepared to either front up to the management with your concerns - or better still, put yourself up for election and then do better, then please give it a rest. This is not some sort of agony aunt thread.
I'm invested into SEA because I like their story and what they are trying to achieve. I believe they have the technical know how and associated business brains to do the job. If they end up going down the tube's then that's my problem. Either way, your posts won't influence my current thinking or future intentions.
Just sayin....
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26-08-2014, 09:03 AM
#249
Originally Posted by Dentie
Apathy - why are you so down on this Company? You have done nothing but bitch and moan and degrade and be generally negative no matter what SEA try and do. Is there something personal you've got going on with the firm that the rest of us don't know about?
Listen, I get that you don't like SEA...and that's fine. But unless you are prepared to either front up to the management with your concerns - or better still, put yourself up for election and then do better, then please give it a rest. This is not some sort of agony aunt thread.
I'm invested into SEA because I like their story and what they are trying to achieve. I believe they have the technical know how and associated business brains to do the job. If they end up going down the tube's then that's my problem. Either way, your posts won't influence my current thinking or future intentions.
Just sayin....
Steady on there, Sport - Apathy actually made some good points which he has backed up with discussions around his concerns.
As a shareholder, you should get yourself comfortable too?
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26-08-2014, 10:14 AM
#250
Member
Originally Posted by Apathy
Smoke and mirrors - the Hoki Catch is 150,000mt - its one of the least 'oily fish' out there (half that of salmon) and they only will have access (at best) to the waste that gets processed on shore. Given the omega 3 content in a fillet is .2% doesn't take a rocket scientist to work out that you won't be producing 5000mt of oil from that source. Salmon production is 1/10th of that.
Anchovies have been referred to a bit more lately - as well as Tuna (now there is a growth supply!) www.stuff.co.nz/nelson-mail/news/10395819/Fish-oil-refiner-seeks-local-supply
I think you should either a) do some proper research; or b) not spread misinformation given this proper research. To claim Hoki is one of the "least oily fish" out there is a blatant lie, though your claim that it's half of salmon appears to be true. A quick Google search will give you references that hoki is considered a rich source of Omega 3.
The second blatant piece of misinformation is that - and you know this - fish oils are not extracted from the fillet. Omega 3 is filtered out by the liver and is hence the place where the bulk of omega 3 oil is found.
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