SeaDragon

[Scooter]

27 Nov 2015

https://www.nzx.com/companies/SEA/announcements/274179

"New Zealand’s leading refiner and blender of high-quality fish oils SeaDragon today announces its new Omega-3 fish oil refinery in Nelson is ready to commence its first commercial production run".

Something is getting fishy on this company

[Harvey Specter]

Balance - It looks like what they were hoping would be their first commercial run was not successful, thats been fixed so they have now their first "successful" commercial production run. other than being a bit overly optimistic, I dont think this is quite a big a deal as you are making out.

[Dentie]

Balance - It looks like what they were hoping would be their first commercial run was not successful, thats been fixed so they have now their first "successful" commercial production run. other than being a bit overly optimistic, I dont think this is quite a big a deal as you are making out.

Ahhhh....finally - some objective level headedness!! I agree Harvey. If the two subject announcements were read properly and, in their entirety with the big picture in mind, it is no big deal. But, as per usual, the sensationalist and convenient type of "selective" quotes were nothing more than mischievous by those that should know better. It is clear SEA is a long term play (which, IMVHO, is where the real returns will be) and those trying to trade on "tenths of a cent" do so at their own risk.

I can tell you Comvita's CEO doesn't seem at all worried...judging by what I read over the weekend! In fact, a quote from Mr Coulter was "There's no reason why we can't replicate the manuka honey story with fish oil".

I think SEA needs to do what SNK did and conduct a huge reverse split. The sooner they get it out of the way the better!

[Balance]

Balance - It looks like what they were hoping would be their first commercial run was not successful, thats been fixed so they have now their first "successful" commercial production run. other than being a bit overly optimistic, I dont think this is quite a big a deal as you are making out.

No big deal but for the fact that the announcement of commercial production was price sensitive, and the company was caught out and had to admit that the plant was actually not in commercial production.

Then we have directors selling because they breached takeover threshold - but again, all quiet until the company was placed under scrutiny.

Goes to the heart of management integrity in keeping the market informed.

Quick with the 'good' news releases but very slow and reluctant to keep the market otherwise well informed, unless caught out.

[Harvey Specter]

Re the commercial run, not a biggy and they weren't far off based on the recent announcement (I assume if it wasn't xmas, it would have been done sooner).

Re the Director sales, they are muppets. Someone should have been looking after this. Probably the CFO's fault but he could probably pass some blame onto which ever advisor they were using too. You cant really pass blame though so ultimately the Directors are at fault as they should have been aware of how much they were allowed to buy in all situations.

[Balance]

Don't you like the blatant sp manipulation almost everyday on SEA?

$560 to make the price close 0.1c higher.

Some sucker may pay up tomorrow, see?

[pak]

It's actually volume of 560k for $7k.

[Balance]

It's actually volume of 560k for $7k.

40,000 shares bought at 1.4c = $560 after 520,000k sold at 1.3c

You prove the point actually - gives the illusion that shares were trading at 1.4c today.

Depth shows 21m shares to sell at 1.4c and 1.5c vs 3.3m to buy at 1.3c

[pak]

Yeah fair call. I just looked at the volume of 560k on watch list rather than clicking on detail and thought a mistake on $ vs volume was made as they are both 560, with what you are referring to. Obviously not paying as much attention as some to this one.

[Balance]

Interesting - there are now only 657,000 on the bid at 1.3c and 20.8m on the offer at 1.4c and 1.5c.

Sellers are moving down a notch and the big volume on the bid side has disappeared.

Will the next bit of news be what has been alerted to by Apathy - an official mel-culpa that forecasts are not going to be met?

Totally agree - there is no loss of confidence here - it has been absent from the start of the fiasco along with any honesty.

Next round of releases/updates will make for interesting reading. They are no chance of hitting result guidance (which they reconfirmed they would) and if market isn't updated they will risk censure. Can't keep putting out fictitious press releases talking it up with out it catching up with you.