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Tuna start to pair up
Southern bluefin tuna in Clean Seas Tuna Limited's onshore breeding facility are starting to pair up ready for spawning, according to Clean Seas managing director Marcus Stehr.
Breeding SBT is the ultimate goal of Clean Seas and he said the goal was getting closer as the fish start to show spawning tendencies.
Mr Stehr said the company had achieved a lot of milestones outlined in its initial prospectus.
The facility was built on time and the tuna broodstock transferred to the land-based facility.
"But the single biggest piece of news is that the fish are very healthy," Mr Stehr said.
"They are showing spawning tendencies, they are starting to line up and starting to move around in pairs."
The fish are feeding aggressively, another good sign, and Mr Stehr said they looked clean and clear and in a very healthy condition.
An initial spawning during March or April is anticipated by directors.
On the business side of things the company achieved another milestone with a first half profit for 2006/2007 of $486,000, which reflected a 548 per cent improvement on the company's 2005/2006 full year profit of $75,000.
Clean Seas also double its production of yellowtail kingfish fingerlings from 400,000 to 760,000 in the same period this year.
Source: Port Lincoln Times
Clean Seas profit rises by 548%
Port Lincoln aquaculture giant Stehr Group's Clean Seas Tuna Limited announced a strong increase in after tax profit for the first six months of the 2006/2007 financial year.
Clean Seas' first half profit of $486,000 reflects a 548 per cent improvement on the company's 2005/2006 full-year profit of $75,000.
Directors are anticipating a further profit increase in the second half of the year as production increases and fish grow more rapidly over the summer/autumn period through to June 30, 2007.
Managing director Marcus Stehr said Southern Bluefin Tuna industry economics continued to improve.
"The past six month has been a very positive period for Clean Seas," Mr Stehr said.
"Our SBT (Southern Bluefin Tuna) breeding program has achieved a major milestone of transferring broodstock tuna into the Arno Bay tuna facility while on the production front we have been able to materially improve profits and future profit potential in the near term through increased yellowtail kingfish production capacity."
Clean Seas has been listed on the Australian Stock Exchange since December 2005 and has since commissioned its Southern Bluefin Tuna breeding facility at Arno Bay, including the transfer of broodstock over the past six months.
The past six months also saw the acquisition of the South Australian Aquaculture Management kingfish farm assets in Fitzgerald Bay in October 2006.
Clean Seas has also raised $8.25 million through the placement of 7.5 million ordinary shares and another 7.5 million nine per cent per annum convertible notes at 55cents each to institutional investors.
Source: Whyalla News
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