CSS - Clean Seas Seafood

truevalue · 19 January 2010

Re: CSS - Clean Seas Tuna

Trading halt!

The spawn began late last week! Wow CSS kept that a secret - big improvement for them!

Breathe a sigh of relief, another milestone hit and another step closer to the dream.

drlog · 19 January 2010

Re: CSS - Clean Seas Tuna

Trading Halt? Commsec isnt saying there is a halt?

Anyway, todays announcement is good news Let's see what happens!

Sdajii · 19 January 2010

Re: CSS - Clean Seas Tuna

drlog said:
Trading Halt? Commsec isnt saying there is a halt?

Anyway, todays announcement is good news Let's see what happens!

Comsec has been showing CSS up as preopen since the spawn announcement about seven minutes ago, although it still doesn't show the announcement - there seems to be a delay. It's visible on ASX though.

Exciting!

Speculator · 19 January 2010

Re: CSS - Clean Seas Tuna

Hey guys

Sitting here this morning with my finger on the trigger in my IG account and CSS goes into a trading halt!?

Only been a trader/investor for 5months so not entirley sure what this means.

Could a more market seasoned person please fill me on the posibilities of why they did this and what it means for the share holders.

Appreciate it.

drlog · 19 January 2010

Re: CSS - Clean Seas Tuna

The trading status is "normal" and the high is 30c at the moment.

My portfolio went up a bit in value in the last 19 mins

drlog · 19 January 2010

Re: CSS - Clean Seas Tuna

Speculator, if you hold CSS then you dont have anything to worry about in the short term. They didnt make an announcement on the ASX site saying that they should go into a trading halt so I am not sure why your trading account says that they are on a halt (hmm, strange).

Anyway, if you do hold now, you should be able to sell very soon (if that is what you want to do). If you wanted to buy before the announcement of the successful spawn this morning...well, sorry

Having said that, 30c is still "cheap" although it is difficult to value a company like this.

Sdajii · 19 January 2010

Re: CSS - Clean Seas Tuna

Speculator: It wasn't a big trading halt, just the standard few minutes of halt for a price sensitive announcement, they are trading again now. When big news goes up they give people a bit of breathing time to think about what they're doing, quickly remove or alter their existing orders to reflect the new situation, and put new bids in. I would prefer an hour or so as standard for price sensitive announcements, but I am clearly not in the majority!

Purple XS2 · 19 January 2010

Re: CSS - Clean Seas Tuna

drlog said:
Trading Halt? Commsec isnt saying there is a halt?

Anyway, todays announcement is good news Let's see what happens!

Not quite a trading halt, rather a 'price sensitive announcement' which, when made during trading hours, suspends trading briefly - I think it's only for about 10-15 minutes, not exactly sure.

Enough to pull, place or adjust your bids, if you happened to be actively monitoring the system.

Worth noting that the recent ADO feeding frenzy was set off by a 'price sensitive announcement'.

This one by CSS looks like stimulating some interest.

Disclosure - do not hold, watching ...

derty · 19 January 2010

Re: CSS - Clean Seas Tuna

From Ann:

Owing to the new technology involved in this complex Southern Bluefin Tuna project, and the intellectual property associated therewith, the company needs to maintain an appropriate level of commercial confidentiality. Additional information regarding the Southern Bluefin Tuna business and the kingfish business’s financial performance will be released with the 2010 interim results.

Great news. The announcement seemed a bit thin on information, though the above paragraph of the announcement explains why. If there is limited progress update due to IP concerns, CSS may move a bit slower than expected.

Anyone know when the 2010 interim results might be due?

truevalue · 19 January 2010

Re: CSS - Clean Seas Tuna

derty said:
From Ann:

Great news. The announcement seemed a bit thin on information, though the above paragraph of the announcement explains why. If there is limited progress update due to IP concerns, CSS may move a bit slower than expected.

Anyone know when the 2010 interim results might be due?

The results came out in the 23rd of February last year derty.

IP concerns will be all about reducing mortality rates. CSS are ironing out all the problems they had with the last spawn to ensure commercial quantities can be produced.

Once a good quantity of fingerlings are in sea cages we can tick off another big milestone.

Liar's Poker · 19 January 2010

Re: CSS - Clean Seas Tuna

Spawning announcement at 10:07am today.

From the announcement (I can't link due to post count, or lack thereof):

"Clean Seas Tuna Ltd is pleased to advise its Southern Bluefin Tuna broodstock commenced spawning late last week and larval rearing has commenced. It is anticipated that resultant fingerlings will be transferred to sea cages at Arno Bay for commercialisation growout trials in March."

Good news.

Note: Currently holding CSS.

Speculator · 19 January 2010

Re: CSS - Clean Seas Tuna

Thanks for the prompt responces guys

Got a little paniced hehe.

Every day is a lesson.

GL + HP

Basilica · 19 January 2010

Re: CSS - Clean Seas Tuna

Some good news on the spawning, their 3rd time now so definatly repeatable. MASSIVE volume traded at 16 million shares. Is that a record for CSS? I wonder if a big investor is using the announcement to sell out? Maybe the underwritter.

Did CSS state what happened to the remainder of the tuna from last years spawning? Did any spend time in the cage?
Does "commercialisation growout trials" have a specific meaning or quantity in CSS context?

Does this following part of the announcement mean no more announcements?
Why would updating the status of the tuna place their IP at risk?

"Owing to the new technology involved in this complex Southern Bluefin Tuna project, and the intellectual property associated therewith, the company needs to maintain an appropriate level of commercial confidentiality. Additional information regarding the Southern Bluefin Tuna business and the kingfish business’s financial performance will be released with the 2010 interim results"

So many questions, thanks in advance.

Bigukraine · 19 January 2010

Re: CSS - Clean Seas Tuna

Great ann. today and good share volume and price responce on info given.
Only have one prob with ann. and that is approx. HOW MANY were their so that we the shareholder can get an idea on the mortality rate. Bit sensative??????? I wonder

ps would like to add i know they are only larva at the min but an approx amount eg 5-10-1000 kg would be nice and a comparison to last year would of been good !

Sdajii · 19 January 2010

Re: CSS - Clean Seas Tuna

truevalue said:
The results came out in the 23rd of February last year derty.

IP concerns will be all about reducing mortality rates. CSS are ironing out all the problems they had with the last spawn to ensure commercial quantities can be produced.

Once a good quantity of fingerlings are in sea cages we can tick off another big milestone.

Didn't they say today that more information would be coming in the report you're saying came out last February? Maybe I'm missing something, forgive me if I'm being highly ignorant.

It's an exciting time! The hush hush due to IP is frustrating for us, but if they can get a trial batch out to the offshore cages and to market this year, we know the whole process is possible, it will have been done, and next year they can run full swing into commercial quantities. They've already done the most difficult things now, and it's just a matter of making sure the offshore stage works, which is the easiest bit.

Watching the movements today it was clear that a lot of people were using this positive to get out with a bit more money than they would have had a few weeks ago, probably due to frustration at how long it has taken to get to where we are now. The underwriters of the recent fund raising possibly sold a fair bit too. This would have held the price down, but the sellers will probably dry up, and hopefully now that the announcement has been made, Cleanseas will get some media attention which will attract more investors. Fingers crossed!

It's a big relief to finally have the spawn!

Basilica · 19 January 2010

Re: CSS - Clean Seas Tuna

Sdajii said:
Didn't they say today that more information would be coming in the report you're saying came out last February? Maybe I'm missing something, forgive me if I'm being highly ignorant.

I think Truevalue was stating when the report was released last year as an indication of when this years report will be released.
If you ask questions, you will not be ignorant for long.

Basilica · 19 January 2010

Re: CSS - Clean Seas Tuna

Sdajii said:
It's an exciting time! The hush hush due to IP is frustrating for us, but if they can get a trial batch out to the offshore cages and to market this year, we know the whole process is possible, it will have been done, and next year they can run full swing into commercial quantities. They've already done the most difficult things now, and it's just a matter of making sure the offshore stage works, which is the easiest bit.

Watching the movements today it was clear that a lot of people were using this positive to get out with a bit more money than they would have had a few weeks ago, probably due to frustration at how long it has taken to get to where we are now. The underwriters of the recent fund raising possibly sold a fair bit too. This would have held the price down, but the sellers will probably dry up, and hopefully now that the announcement has been made, Cleanseas will get some media attention which will attract more investors. Fingers crossed!

It's a big relief to finally have the spawn!

I doubt they will get to market this year, just not enough time. Possibly 11 or 12 depending on the size the market wants.

I think you summerised the days trading well.

The big relief will be when the fingerlings have aclimatised in the cool water of the cages, they seem to have solved the spawning and early mortalitiy problems.

Keep the questions comming

Bigukraine · 20 January 2010

Re: CSS - Clean Seas Tuna

IN the Adelaide paper this am "QUOTE" HS the spawning has been far better than last year and it all looks very promising. Looks like we had to wait until the print media to get the info we needed !

truevalue · 20 January 2010

Re: CSS - Clean Seas Tuna

First time I have seen CSS in the Financial Review today. Sadly it is in Rear Window and completely wrong on just about all its facts. Apparantly a sucessful spawning is: "not normally the sort of news that has excited interest in Clean Seas". What idiots. The column then goes on with a whole bunch of other incorrect rubbish.

Bigukraine · 20 January 2010

Re: CSS - Clean Seas Tuna

truevalue said:
First time I have seen CSS in the Financial Review today. Sadly it is in Rear Window and completely wrong on just about all its facts. Apparantly a sucessful spawning is: "not normally the sort of news that has excited interest in Clean Seas". What idiots. The column then goes on with a whole bunch of other incorrect rubbish.

Hi TRue,
I thought this new mgr they got was a gun ! you would of thought he would of overseen the press releases. Mr J E-F and CA should of come up with somthing better than what they have. The media ring you up for info so you must put your best foot forward but i have a feeling that certain people that started this bus. find it hard to let the reins go ! IMO

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