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CSS - Clean Seas Seafood

Re: CSS - Clean Seas Tuna

DrLog: 180 fish is barely enough for dinner, let alone something commercially relevant, but to some extent it's about the process rather than the scale at this stage. Still, it is a concern that they only have 180 fish. That means there has been a massive mortality rate so far with just a handful of survivors.

This company has a habit (I won't say talent, 'cause it's usually pretty transparent) of making bad news sound good. Rather than saying "Oh, $#!t, almost all of them are dead" they're saying "Hooray! We have fish to try our techniques on!"

Remember a couple of years ago when they were excited about raising fish to larger than this size? They didn't mention numbers, but it was less than a dozen (I spoke to one of the directors personally) and they just had them in fish tanks, and of course, they died. So, this isn't the first time they've had fish survive to this stage (go back and check the company's history, it's all there), it's just the first time since they did it a couple of years ago, and once again, they are working with very small numbers.

If the methods were working with an acceptable level of mortality they'd have a lot more than this tiny handful of fish to play with, and juvenile mortality is still a massive issue they haven't solved. They had enough eggs for a commercial quantity this year, and if all went well they'd have tens of thousands going offshore rather than a few dozen, less than 100.

It is good that they've weaned them on to a manufactured diet though, and even a few dozen fish will let them trial their methods.

I doubt they'll drop back to 13c this week without bad news, but I doubt they'll be above 13c mid year unless the market believes the spin and hype, which I suppose is likely.
 
Re: CSS - Clean Seas Tuna

Its about scale and baby steps. There is no direct link between fish mortality as yet but I have to agree with Sdajii.........this bunch can be rather sneeky when it come to disclosure. Accountability is one thing but transparency is another
 
Re: CSS - Clean Seas Tuna

I am going to be optomistic (yea, I have only been really "following" these guys for less than a year, and have not been bitten like some have). If the sea tanks raise 10-20 to marketable size (which is certainly possible) from the current brood, and the next 2011 brood gets, say, 200-300 in the cages, we are on to something. If they can get ANY fish to marketable size from this years brood...hey, I can dream, can't I?

You guys need some fresh, idealistic opinions, don't cha?
 
Re: CSS - Clean Seas Tuna

For the reasons you noted above ......that is why I am holding.
 
Re: CSS - Clean Seas Tuna


I am inclined to agree with Sdajii that this company has not been telling the whole story. 180 fish survive out of millions egg ? Mathematically speaking this does not add up? I wish I had more information ????
 
Re: CSS - Clean Seas Tuna



I am inclined to agree with Sdajii that this company has not been telling the whole story. 180 fish survive out of millions egg ? Mathematically speaking this does not add up? I wish I had more information ????

I think the story is told, though the story naturally accentuates the upside.
 
Re: CSS - Clean Seas Tuna

Could it be that many more survived and that they will come through in batches?

They are still in the R&D phase so it makes sense to tranfer little bits at a time. They never actually stated that thats all they got from a million eggs but then one can never be toooooo sure about this bunch.

90 fish at a time is way below our expectations but then again there could be a method to their madness
 
Re: CSS - Clean Seas Tuna


Yea, I thought about that, and it is a definite possibility. The way it is worded, it sounds methodical. But u think they might have included that tid-bit.
 
Re: CSS - Clean Seas Tuna

They say "a similar number" are kept back in tanks; if more survived, where would they be?
 
Re: CSS - Clean Seas Tuna

Yes , that is the million dollar question. Are the rest still alive and coming through later or have they perished? We certainly would like more info than titbits............and if we are going to get titbits then at least give us titbits with substance and meaning
 
Re: CSS - Clean Seas Tuna

There is still a long way to go with SBT commercialisation, realistically, a few more years. Just look at Kinki University's progress and time lines.
The transfer of fingerlings is in early stages, the fish are only a couple of months old and mortality rates in sea pens will also be critical.
The spawning mortality rate is to be expected in the early stages but, none the less, they have progressed beyond last years program. This will be enough to support the company moving forward.
They will need to maintain a strong focus on YTK profitability and sales for the value of the entity to rise throughout the year.
The immediate concern will be the impending capital raising, which will be substantial in my view.
It is important that they focus on long term share holders now and not pander to traders and speculators by allowing investors to buy a small $500 parcel of stock then oversubscribe at the offer price which, last time , was not cut back.
If they don't they will not build a base of larger long term private investors, which they need, and the stock will get flipped on re-opening with continued excessive volatility.
I am hoping they will conduct a pro-rata, maybe one for one, issue this time as it will support the entity pre and post Cap Raising.
 
Re: CSS - Clean Seas Tuna


Yes, and transparency will promote long term investment...as long as there is the belief in progress, and maintaining operations. But with liquidity being an issue, as every investor can see in financials, they are in the position where they need to entertain both the investor as well as the less fundamentally-judgmental trader. When the fish...any fish...are at marketable size, the investor will step in and comprise a larger share of ownership. US OTC volume was O today, even after the news, but we are watching and waiting. I try to see this company through two lenses; tuna, and other operations. The firm looks to be moving positively through both. As long as the small steps continue to be taken, this firm will continue to keep moving forward and continue to have the backing of "anonymous" benefactors. And I look for another big investor to step up in the next 60 days. And I am going to guess that Japanese efforts will be less vigorous then they might otherwise be, even on the southern part of the island.
 
Re: CSS - Clean Seas Tuna

The expression "moving forward" makes me puke. since it's been hijacked into Pollie-speak
But apart from that, CSS does look reasonably supported by now. Having taken part profit yesterday, I'd like to see the gap closed and my 13c bid filled though; afterwards I'm happy for it to rocket on.

 
Re: CSS - Clean Seas Tuna

There has no doubt been some profit taking but the hype will settle down shortly and then the anxious wait for the next announcement. It looks like there is support coming through so hopefully all reads well from here on in
 
Re: CSS - Clean Seas Tuna


I am of the view that a capital raising will not be required until there are a commercial quantity of SBT in the water (several thousand), so at least 1 year away. For 180 fish it wont cost more than $400k to growth them to 20kg. Growth rates will be very interesting from here.
 
Re: CSS - Clean Seas Tuna

I am of the view that capital raising will be evident prior to there being a commercial quantity in the water. They will need the capital to get a few thousand tuna of commercial quality in the water. I think that after the second batch goes into cages for growout and the mortality rate is not too large they will strike as us not-so-well-informed investors will assume the best.
 
Re: CSS - Clean Seas Tuna

Truevalue,

Kingkev stole my thunder.
I am assuming that the present infrastructure is pre-commercial, at least, that has been my understanding from CSS press releases.
If this is the case, surely, they will need the infrastructure in place prior to spawning next season, after all, it is not built overnight.
In anycase, they will really need to improve the cash flow and profitability from YTK over the winter months to support a reasonable entity valuation. If they start bleeding funds again they will miss the current investor interest and support in the company.
I would be very surprised if they don't go before cessation of this seasons spawning and growout trials.
 
Re: CSS - Clean Seas Tuna

Clean Seas Tuna Ltd director Sir Tipene O'Regan, who retired on March 15, 2011, held no shares at the time of his retirement.

Heh heh heh
 
Re: CSS - Clean Seas Tuna

NOTHING,ZIP,..........................that is difficult to digest

Are twe getting the whole story?...................this is almost unheard of where a director retires with sweet fa

can anybody comment on this?
 
Re: CSS - Clean Seas Tuna

NOTHING,ZIP,..........................that is difficult to digest

Are twe getting the whole story?...................this is almost unheard of where a director retires with sweet fa

can anybody comment on this?

Kingkev,

Normally, I would share Sdajii's skepticism, however, he only had options exercisable at $ 1 plus. Not taking them up at 14c is a no-brainer.
 
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