SFG 1.05% 9.4¢ seafarms group limited

more ponderings

  1. 480 Posts.
    lightbulb Created with Sketch. 50
    No wonder the capital raising was postponed, if more than the 15% of shareholders that took up their entitlement then Nissui's anti-dilution take up would have been considerably greater and a nice boost to the bottom line.

    So lets have a look at the state of things-
    the federal government has just renewed the Major project status for PSD.
    Exmouth Founder Facility has been churning out generations of best of the litter prawns after DNA testing for some time now and should soon have the quality breeding stock available and ready to ship to the Broodstock maturation Centre at Bynoe Harbour.
    We have just received notification that a crown lease has been granted to Sea Farms and that the First contract for this facility has been let.
    Contracts for 2 stages of 28 km sealed all weather roadworks from the WA border through Keep River and on to Gunn point are progressing and some stages are finished, with the bridge work progressing now that the "wet" has passed and access is now available and envisaged to be fully completed by Sept 2020.
    W also saw the company calling for a project management team a while back and last week an office in darwin was opened by the Chief minister, we can assume this is where the management team will operate from for the overseeing of the construction of the breeding facilities and work at Legume station. i noted that contracts to quarry and crush materials for road base and hard standing were let some months ago so there should be some progress on site there.

    In summary the ground dries out, access roads are constructed, building work starting funded by the capital raising and we are led to believe there are investors waiting to buy in as soon as things crank up.
    I Am looking forward to the next round of announcements over the coming months as construction progresses.
 
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