CSS - Clean Seas Seafood
- Thread starter LifeisShort
- Start date
pixel
DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: CSS - Clean Seas Tuna
Thanks, Shaker;
well, it did
But sadly, without me. I wasn't at home this morning when the breakout started. And by the time I got back from the Doctor's, it was all over.
Thanks, Shaker;
well, it did
But sadly, without me. I wasn't at home this morning when the breakout started. And by the time I got back from the Doctor's, it was all over. Re: CSS - Clean Seas Tuna
Hi Pixel,
Your chart is interesting, unfortunately I have no " magic knowledge" to unlock the message.
Could you please elaborate a wee bit more when you are posting a new one next time. I am following this stock with keen interest. I believe the company has learnt a hard lesson. If they are sticking to what they do best, good news will just keep coming.
Hi Pixel,
Your chart is interesting, unfortunately I have no " magic knowledge" to unlock the message.
Could you please elaborate a wee bit more when you are posting a new one next time. I am following this stock with keen interest. I believe the company has learnt a hard lesson. If they are sticking to what they do best, good news will just keep coming.
pixel
DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: CSS - Clean Seas Tuna
Hi nizora
no magic required. The chart plots each day's price range and traded volume. A green "candle" tells us that trading started at the bottom of the green rectangle, closed at the top of the rectangle; intra-day price dips and rises are shown by thin lines below and above the rectangle, which is called the "body".
(Red candles start trading at the top of the body, then close at the bottom, with red "wicks" acting just as the green ones do.)
I have written some additional indicators that visually enhance my charts. In essence, you only need to check the green (buy) and red (sell) arrows to see whether the direction is up or down.
At the bottom, I plot the "speed" at which the price is traveling: The higher the red line rises, the greater the upward speed and consequently also the momentum. If the speed drops off and falls below the blue signal line - or, Heaven forbid, below zero - I get set to sell a Long position; the yellow arrow is the final death knell.
Lastly, in the chart below, I have also added some auxiliary levels that subdivide the trading range according to the main "Fibonacci" ratios, which follow the classic "Golden Rule". Apart from the "odd" ones containing 61.8, 32.6 etc, I watch sequences like 0-50-100-200 because quite often, a pullback from the top of an initial rally to the mid-point (50%) will hit a target of twice the original range, i.e. 50-100-50 will break back up and hit 200. In the chart below, 200 was hit on the nose and, more of the same, price retraced then back to half of that (i.e. 100%) before racing up again beyond the 200% level, which makes me hopeful that the next target could be 400% or 7.8c.
That's about "it" in a nutshell.
Hi nizora
no magic required. The chart plots each day's price range and traded volume. A green "candle" tells us that trading started at the bottom of the green rectangle, closed at the top of the rectangle; intra-day price dips and rises are shown by thin lines below and above the rectangle, which is called the "body".
(Red candles start trading at the top of the body, then close at the bottom, with red "wicks" acting just as the green ones do.)
I have written some additional indicators that visually enhance my charts. In essence, you only need to check the green (buy) and red (sell) arrows to see whether the direction is up or down.
At the bottom, I plot the "speed" at which the price is traveling: The higher the red line rises, the greater the upward speed and consequently also the momentum. If the speed drops off and falls below the blue signal line - or, Heaven forbid, below zero - I get set to sell a Long position; the yellow arrow is the final death knell.
Lastly, in the chart below, I have also added some auxiliary levels that subdivide the trading range according to the main "Fibonacci" ratios, which follow the classic "Golden Rule". Apart from the "odd" ones containing 61.8, 32.6 etc, I watch sequences like 0-50-100-200 because quite often, a pullback from the top of an initial rally to the mid-point (50%) will hit a target of twice the original range, i.e. 50-100-50 will break back up and hit 200. In the chart below, 200 was hit on the nose and, more of the same, price retraced then back to half of that (i.e. 100%) before racing up again beyond the 200% level, which makes me hopeful that the next target could be 400% or 7.8c.
That's about "it" in a nutshell.
Re: CSS - Clean Seas Tuna
Pixel,
Thanks for the comprehensive explanation. Also the regular posting of the chart. I shall follow this closely.
The 7.8 c target is so very close, currently the SP is 7.2 already. Would there be another cap raising soon?
Pixel,
Thanks for the comprehensive explanation. Also the regular posting of the chart. I shall follow this closely.
The 7.8 c target is so very close, currently the SP is 7.2 already. Would there be another cap raising soon?
pixel
DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: CSS - Clean Seas Tuna
You're welcome, nizora
Updating the chart, I'm afraid my guesstimate was 0.1c off and we may be seeing the High at 7.7c
Trading by 1-minute ticks, I'm off.
You're welcome, nizora
Updating the chart, I'm afraid my guesstimate was 0.1c off and we may be seeing the High at 7.7c
Trading by 1-minute ticks, I'm off.
pixel
DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: CSS - Clean Seas Tuna
"Notice Received", shares in pre-Open
Wouldn't bet against a "Please Explain" ASX speeding ticket
Edit: It's a Trading Halt
"Notice Received", shares in pre-Open
Wouldn't bet against a "Please Explain" ASX speeding ticket
Edit: It's a Trading Halt
pixel
DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: CSS - Clean Seas Tuna
... and a capital raising coming up ...
"Notice Received", shares in pre-Open
Wouldn't bet against a "Please Explain" ASX speeding ticket
Edit: It's a Trading Halt
... and a capital raising coming up ...
skc
Goldmember
- Joined
- 12 August 2008
- Posts
- 8,277
- Reactions
- 329
Re: CSS - Clean Seas Tuna
Didn't they just raise money in March? What's the excuse this time.. a high share price?
Didn't they just raise money in March? What's the excuse this time.. a high share price?
Re: CSS - Clean Seas Tuna
Seen this old trick so often: jump-started the SP , and quickly follow by capital raising,The fish must be very hungry this time . cry:
LOL - as in "strong buying interest proves our shareholders want to take a greater stake, so we issue more shares to accommodate those who missed out last time"
Seen this old trick so often: jump-started the SP , and quickly follow by capital raising,The fish must be very hungry this time . cry:
- Joined
- 8 April 2008
- Posts
- 310
- Reactions
- 3
Re: CSS - Clean Seas Tuna
I doubt that Nizora, I think it will be pitched at retail investors. This is a highly opportunistic raising at a time when the price and volume surged on the back of what, I consider, to be only mildly positive news on YTK growth rates.
Long term investors should be very cautious on CSS as, IMO, it is a value trap.
Day traders have been able to make a motza........but buyers beware.
I think the market has forgotten the main event here i.e. the Albatross around CSS's neck that is the SBT project. This is still drawing significant funds from CSS, hence the jump at a Cap Raising.
I would also question the share price movement and announcement timelines as they warrant investigation by ASIC and the ASX in my view.
Disc - Not invested, Opinion only, not based on any factual information. DYOR.
Probably this Cap raising is solely for sophisticated investors only
I doubt that Nizora, I think it will be pitched at retail investors. This is a highly opportunistic raising at a time when the price and volume surged on the back of what, I consider, to be only mildly positive news on YTK growth rates.
Long term investors should be very cautious on CSS as, IMO, it is a value trap.
Day traders have been able to make a motza........but buyers beware.
I think the market has forgotten the main event here i.e. the Albatross around CSS's neck that is the SBT project. This is still drawing significant funds from CSS, hence the jump at a Cap Raising.
I would also question the share price movement and announcement timelines as they warrant investigation by ASIC and the ASX in my view.
Disc - Not invested, Opinion only, not based on any factual information. DYOR.
pixel
DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: CSS - Clean Seas Tuna
CSS are holding their AGM today.
In case anyone is interested: the Presentation slides have just been released:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01449684
CSS are holding their AGM today.
In case anyone is interested: the Presentation slides have just been released:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01449684
Re: CSS - Clean Seas Tuna
You are right tge, the retail investors are targeted again this time. The " trick" ,Jump start the SP,before the jump at cap raising , is always the same. Is this an acceptable practice ? I doubt ASIC and the ASX would do anything about this. I smelt rat before the trading halt.This company is always hungry for money.
TradingHalt
Clean Seas announced a trading halt yesterday for the purpose of putting in place a capital
raising.
The purpose of the capital raising is to complete the funding of our core Kingfish business to a
production level of 1,500 tonnes per annum (tpa).
We have retained Patersons Securities in relation to the proposed capital raising, and we expect
to be able to announce details within the next two days.
Our intention is that the capital raising will include a share purchase plan to allow all
shareholders to participate, and in particular to allow smaller shareholders to increase their
holdings to a marketable parcel.
Your Directors are very conscious that ourshare holders contributed funds to the Company
earlier this year and we are very grateful for your continued support.
It is your Board’s aim that this is the last capital raising required for the Company to achieve
profitable trading at its interim target production level of 1,500 tpa. Our intention is to use
cashflows and debt as the primary means of funding the progressive increase in our Kingfish
production to 3,000 tpa."
You are right tge, the retail investors are targeted again this time. The " trick" ,Jump start the SP,before the jump at cap raising , is always the same. Is this an acceptable practice ? I doubt ASIC and the ASX would do anything about this. I smelt rat before the trading halt.This company is always hungry for money.
TradingHalt
Clean Seas announced a trading halt yesterday for the purpose of putting in place a capital
raising.
The purpose of the capital raising is to complete the funding of our core Kingfish business to a
production level of 1,500 tonnes per annum (tpa).
We have retained Patersons Securities in relation to the proposed capital raising, and we expect
to be able to announce details within the next two days.
Our intention is that the capital raising will include a share purchase plan to allow all
shareholders to participate, and in particular to allow smaller shareholders to increase their
holdings to a marketable parcel.
Your Directors are very conscious that ourshare holders contributed funds to the Company
earlier this year and we are very grateful for your continued support.
It is your Board’s aim that this is the last capital raising required for the Company to achieve
profitable trading at its interim target production level of 1,500 tpa. Our intention is to use
cashflows and debt as the primary means of funding the progressive increase in our Kingfish
production to 3,000 tpa."
Re: CSS - Clean Seas Tuna
The Directors of Clean Seas Tuna Ltd (ASX “CSS”) are pleased to announce the opportunity for existing
shareholders of the Company to participate in an underwritten Share Purchase Plan (SPP or Offer) to
raise up to $6 million to fund increased production of Yellowtail Kingfish.
Key Features of the SPP:
• Shares will be offered at a 20% discount to the volume weighted average price (VWAP) for the 5
trading days prior to and including the Closing Date ofthe Offer,subject to a maximum price of
3.2 cents per Share.
• Patersons Securities is acting as Lead Manager to the Offer and has underwritten the SPP to an
amount of $6.0 million.
• There are no transaction costs to participants.
The maximum Offer price under the SPP of 3.2 cents represents a 13.1% discount to the 60 day VWAP of
3.68 cents and a 24.8% discount to the 30 day VWAP of 4.26 cents. The pricing structure for the SPP has
been determined having regard both to recent volatility in the Company’s share price and longer term
share price levels, and offers attractive pricing for shareholders to invest additional equity in the
Company.
The SPP is subject to shareholder approval at a General Meeting expected to be held on 25 November
2013. The directors reserve the right to accept additional applications subject to shareholder demand.
The Offer is being made at a time when the Company is achieving outstanding results from its Yellowtail
Kingfish strategy and is recording the best Kingfish survival, health and growth rates in many years
The funds raised under the SPP will be used to support the growth of our core Kingfish business to a
production level of 1,500 tonnes per annum (tpa). Clean Seas is on track to achieve this production
objective and be profitable by 2015 with the aim of increasing production to 3,000 tpa over 5 years
The Directors of Clean Seas Tuna Ltd (ASX “CSS”) are pleased to announce the opportunity for existing
shareholders of the Company to participate in an underwritten Share Purchase Plan (SPP or Offer) to
raise up to $6 million to fund increased production of Yellowtail Kingfish.
Key Features of the SPP:
• Shares will be offered at a 20% discount to the volume weighted average price (VWAP) for the 5
trading days prior to and including the Closing Date ofthe Offer,subject to a maximum price of
3.2 cents per Share.
• Patersons Securities is acting as Lead Manager to the Offer and has underwritten the SPP to an
amount of $6.0 million.
• There are no transaction costs to participants.
The maximum Offer price under the SPP of 3.2 cents represents a 13.1% discount to the 60 day VWAP of
3.68 cents and a 24.8% discount to the 30 day VWAP of 4.26 cents. The pricing structure for the SPP has
been determined having regard both to recent volatility in the Company’s share price and longer term
share price levels, and offers attractive pricing for shareholders to invest additional equity in the
Company.
The SPP is subject to shareholder approval at a General Meeting expected to be held on 25 November
2013. The directors reserve the right to accept additional applications subject to shareholder demand.
The Offer is being made at a time when the Company is achieving outstanding results from its Yellowtail
Kingfish strategy and is recording the best Kingfish survival, health and growth rates in many years
The funds raised under the SPP will be used to support the growth of our core Kingfish business to a
production level of 1,500 tonnes per annum (tpa). Clean Seas is on track to achieve this production
objective and be profitable by 2015 with the aim of increasing production to 3,000 tpa over 5 years
- Joined
- 6 September 2008
- Posts
- 7,676
- Reactions
- 68
Re: CSS - Clean Seas Tuna
More capital raising ?
They were doing that before I sold out years ago.
More capital raising ?
They were doing that before I sold out years ago.
Re: CSS - Clean Seas Tuna
"The Directors of Clean Seas Tuna Ltd (ASX “CSS”) are pleased to announce the opportunity for existing
shareholders of the Company to participate in an underwritten Share Purchase Plan (SPP or Offer) to
raise up to $6 million
• Patersons Securities is acting as Lead Manager to the Offer and has underwritten the SPP to an
amount of $6.0 million. "
This time is fully underwritten.
Looks like Patersons Securities is happy to take the lots @ 3.2cents.
"The Directors of Clean Seas Tuna Ltd (ASX “CSS”) are pleased to announce the opportunity for existing
shareholders of the Company to participate in an underwritten Share Purchase Plan (SPP or Offer) to
raise up to $6 million
• Patersons Securities is acting as Lead Manager to the Offer and has underwritten the SPP to an
amount of $6.0 million. "
This time is fully underwritten.
Looks like Patersons Securities is happy to take the lots @ 3.2cents.
Re: CSS - Clean Seas Tuna
WHat to make of the $15k share limit per shareholder rather than a pro-rata of current shareholding? was there a lack of support expressed by the largest shareholders that forced this decision? also why was announcement of the details timed to avoid scrutiny at AGM? unfortunately i'm a shareholder &didn't bail in time. Chief71
WHat to make of the $15k share limit per shareholder rather than a pro-rata of current shareholding? was there a lack of support expressed by the largest shareholders that forced this decision? also why was announcement of the details timed to avoid scrutiny at AGM? unfortunately i'm a shareholder &didn't bail in time. Chief71
