#CSS AU suspect the rolling panic in Aussie (see bbc.co.uk/news/world-aus… - definition of madness?) hinders share price progress. Story is asset turns improve via more distribution channels & mix (>frozen <fresh) I think it’s an opportunity. Adding - particularly post m&a in space
https://twitter.com/here_there/status/1346370971255627776
Biggest beef farmer in Brazil acquires salmon farm is all about a move away from carbon, methane, deforestation into sustainable aquaculture abc.net.au/news/2021-08-0… Skate to where the puck will be. Buy
wcsecure.weblink.com.au/pdf/CSS/024002… this explains why the Aussie line trades at a 12 cent discount to Norway at 57 odd cents. Suspect it bounces strongly. + Sensible move (and flagged at the capital raise) given cost of the convertible
Excellent update wcsecure.weblink.com.au/pdf/CSS/024386… more fish sold at much higher prices equals much much more free cash flow generation. & lifts the hood re growth plans (scale / speed off) Core long - very very cheap. Need to do the work. Very pleased
Stock is #CSS AU - net cash forecast at time of raise (to fund working capital needed for expansion) was $14.7m ….to contextualise degree of best the net cash reported is $24.6m. That’s a helluva off a beat. Will the market get it. Who knows. Patience will out. It’s very cheap
Lots like hunting with the crowd “momentum” some like hunting in the weeds. Am more of the later. Looking for less bad where you need to do the homework, accept your either wrong or just early into an explosive move up as market understand the “change”. I note 1 bulletin board
comment on Hot Copper post the update, nought on Twitter. It is what it is. I think this generates year 2 $35m free cash flow off an EV of $75m. Norwegian peers trade 20* ebitda. Structural growth with ESG kicker / angle.
Ebitda $45m. 20* is $900m. Hair cut by 50% and it’s a 5 bagger from here - for context The Kingfish company quoted Norway trades 3* market cap for 1/15 of production & same growth trajectory. Bonkers 😛 Well worth some homework. Compare and contrast etc
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