NZK - NZ King Salmon

[TheHunter]

CEO, CFO and Chairman all jumped ship now, not good.

[BlackPeter]

CEO, CFO and Chairman all jumped ship now, not good.

How do they say - success has many fathers, failure is an orphan.

[Sideshow Bob]

CEO, CFO and Chairman all jumped ship now, not good.

Might be a good thing. Not exactly if they were going great guns beforehand.

[BlackPeter]

Might be a good thing. Not exactly if they were going great guns beforehand.

Can't comment on the CFO, but the CEO clearly didn't had enough social intelligence, if you remember some of his fall outs with politicians whose support his company dearly needed. In jobs like these your soft skills are always more important than your technical competence.

The chair - actually I do respect John Ryder as investor as well as his work for Ryman. Clear issue was that nobody saw for NZK the impact of climate change (and it would have been the job of the board to look) - and if you look at my comment about the CEO, they clearly didn't had a very lucky hand in recruiting the right people. Another big minus for the board and the chair.

Big gun? Maybe, but not that accurate in hitting the desired target.

[iceman]

A hearing in Blenheim on Thursday into the numerous objections to their offshore farming application. I hear NZK was surprised as they were not expecting this before the election.
Hopefully this goes well and the panel will find that there is no need to go to the Environment Court. The Government's $ 1 Billion strategy by 2030 needs projects like this if that is going to be achieved. Time to let the industry get on with it.

[BlackPeter]

A hearing in Blenheim on Thursday into the numerous objections to their offshore farming application. I hear NZK was surprised as they were not expecting this before the election.
Hopefully this goes well and the panel will find that there is no need to go to the Environment Court. The Government's $ 1 Billion strategy by 2030 needs projects like this if that is going to be achieved. Time to let the industry get on with it.

Haven't seen the submissions, so couldn't possibly comment on them.

However - no matter which position the panel takes on the submissions, it is not up to the panel to decide whether the submitters go to the environment court or not. If the issue is big enough (and I am sure, it is) there always is somebody unhappy, and this is the party taking the case to the Environment court.

Again - whether NZK has a case, I wouldn't know. However - so far the company clearly didn't stand out in terms of environmental awareness, or maybe they did: highly incompetent bunch ignoring global warming with a business case requiring cold fresh water.

If we want to do something for the economy ... here is a really easy and cheap idea: Allow trout farming in NZ!

Very easy, environmentally friendly, any idiot can do it and it produces a good harvest and good money: even NZK would be able to farm trout's without any problems and make money. Only problem is: It is illegal in NZ in order to protect the perceived interests of a very small minority of recreational and often stink rich anglers.

[ralph]

I have to say trout do not taste the same as salmon & are a very poor freshwater cuisine cousin compared to salmon, without the omega fatty acids etc .
Certainly not as profitable & with no overseas market to speak of b p, its not happening stink rich wanglers need not worry keep calm .

[iceman]

I have to say trout do not taste the same as salmon & are a very poor freshwater cuisine cousin compared to salmon, without the omega fatty acids etc .
Certainly not as profitable & with no overseas market to speak of b p, its not happening stink rich wanglers need not worry keep calm .

Agree. NZ will never grow the aquaculture business on a decent scale without salmon farming. Trout can never replace salmon if we want to be serious about exporting large volumes.

[BlackPeter]

I have to say trout do not taste the same as salmon & are a very poor freshwater cuisine cousin compared to salmon, without the omega fatty acids etc .
Certainly not as profitable & with no overseas market to speak of b p, its not happening stink rich wanglers need not worry keep calm .

Agree. NZ will never grow the aquaculture business on a decent scale without salmon farming. Trout can never replace salmon if we want to be serious about exporting large volumes.

Quite beside the point. Of course have trout and salmon different tastes ... they are different fish with different lifecycles - and while salmon spends a good part of its life in the sea, the trout lives only in rivers and lakes.

Comparing the respective tastes is like comparing the taste of Taiwanese green tea and Columbian coffee. Both can be great, but what you like depends on your taste buds and what you are used to drink.

Long live diversity ... and both have a deserved place in a great cuisine.

I didn't propose to replace salmon farming with trout farming, but to do both ... and obviously - salmon farming is harder, i.e. I wonder whether the NZK board is ever able to turn that into hard coin (other for themselves, obviously), but maybe they just need to replace the board and start again with fresh money and fresh minds .

Looking into the returns .. iceman, if you look that your previous neighbour (Norway) is the largest exporter of frozen trout and the total value of the market is annually something like US$700m, I am wondering why you think NZ would be unable to turn this into a business as well. Norway is able to make money with exporting trout and Salmon, so why would we not be able to do that as well?

https://www.tridge.com/intelligences/trout/export

But back to NZK: Wondering whether share holders put already enough money beside for the next big capital raise to fund a high risk low return (if everything goes right) adventure on high sea. I am sure the cost will be real, but worry about the returns. Obviously - only if the environment court is going to allow it, otherwise they better wind down the company now.

[Southern Lad]

See ASX announcement this morning on mediated settlement to agree conditions for issue of Blue Endeavour consent:

https://announcements.asx.com.au/asx...ng8j6cw241.pdf