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Ref:740/03 |
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australia
- May 16, 2003 |
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Abalone firm backs out |
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Kellie Dolan -
Friday, 16
May 2003
ESPERANCE Abalone Farms has pulled out of Esperance
Shire's Wylie Bay aquaculture precinct.
EAF is instead devoting time and money towards its
long-running bid to find $3 million capital for an
abalone farm at Bandy Creek Boat Harbour - but is
allowing only six months before giving up.
A $10,000 fee imposed by council, refundable if the
project proceeded within 12 months, was another
contributing factor for the back-out.
Australian Ocean Harvest, which was also selected to
operate at Wylie Bay, has not paid the fee which was
due on April 30 but has put forward another proposal.
Council will consider the information at the
engineering and development services meeting next
Tuesday.
EAF director Gerard Tonks said the abalone farm
project had been scaled down because of the difficulty
finding investors so the extra space at Wylie Bay was
not needed.
The Bandy Creek site is licensed and ready to go for
abalone aquaculture with an application to include
fin-fish - the only catch is the company is still
without financial backing.
"We've been seriously knocking on doors and asking for
money for a year and a half now. Another six months
and that will be it," Mr Tonks said.
"If we can't get the money we're out."
Interest shown from investors in the Goldfields and in
Israel did not come to fruition.
Financial institutions and brokers were not interested
in aquaculture.
"Our only hope now is that people in the fishing
industry somewhere in Australia get involved," he
said.
Seed capital has come from abalone diver Lee Warner
and Condingup farmers Phil and Nicole Chalmer.
An advertisement by EAF calling for pre-prospectus
expressions of interest attracted a disappointing
response.
Mr Tonks said only three community members asked for a
prospectus, and the only community leader to show
interest was Esperance Shire president Ian Mickel. |
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