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According to Zerohedge GAAP. Lol
The challenges regarding collaterals has already been dealt with and will not lead to further delays. The additional requests like a full year audit is what caused the delay.
I completely share your view on the process.
Snow, people here seem to forget that we have suffered extreme in terms of market cap just the last months. The company is not doing any worse compare to Nov 2 FY17 (more likely the opposite). Yet, you had to pay 2$ per share back then. Now; if you lucky; you could pick up a few under 1$.
The plan with Siaf Sweden was to list Siaf on First North for like 4-5 yeas ago. First North is a similar crap list as Merkur. Erik Ahl helped Nisse and Yap to prepare some power point slides etc in connection to this.
My point is that there is no role to replace. Erik was way to inexperienced to even handle some of the IR stuff and we already got Peter for that.
Anyhow, I think that we should leave the kid alone for now.
Regarding Siaf, things looks good from here. Tri-ways cash flow will improve and I also think there is a high probability that they will close financing within the next coming weeks. They make huge money on fine fish during the meantime.
Also, lets not forget how much money Tri-way owns us. Would be good if Solly wrote a contract preventing him to throw the fresh money on something bad as he has done in the past.
Wel, I guessl any PR is good PR, even on a private level.
He confirmed to me personally that he hasn't been employed by Siaf since last spring. That doesn't prevent him to "help" Siaf on a time to time basis, like when he helped arranging the Nordic meetings in September so that we could meet With Solly.
Yes, he left for six months or so, even though he helped S to invite a few to the Nordic meeting.
Anyhow, that kid is naive, much too inexperienced for the role and has never been able to to give anything near a straight answer to a specific question. Think he is a grandson to one of Nisses friends.
We are currently up 2%
Apparently you didn't participate at the meeting. Ha said 12 weeks if he "had to guess". During the conference call, Dan provided additional information. Suggest you listen to the call before posting nonsense here....
Empty, I agree on that the loan should have been closed already. However, the conf.call indicated that the board of the lead bank requested additional info including an audit annual report (FY end Sep for Tri-way). Dan said that they provided the board with this, however this was near Christmas. I expect updates within the coming weeks.
Could be worth mentioning that I picked up a few shares today.
Interesting that you have changed view. Is it due to decreased risk due to lower market cap?
What's your view regarding on how SIAF will deal with the settlement of the semi toxic financing that is due soon?
Do you know why garret will receive 320 000 shares upon the maturity of a loan agreement?
Thanks!
Tri-way is far more efficient than Guolian. However, Guolian has one major advantage. That is no Solomon. I don't get it, how come he newer tell us the full story??? One quarter we will have a regional monopoly on the abattoir, the next quarter they shout it down without sending additional PR? Etc etc
The day we could get rid of Solomon, we should gain 1000% immediately.
I don't get this. If the boiler is so important, how come they continued capex in other business divisions during the quarter? (Yes, I'm aware of that you can't move money back and forward between the different subsidiaries, still find it a bit odd.)
I totally agree with both of you. Get rid of everything not aqua related, to any price paid upfront in cash, even if we only get as low as 5% of booked value. Focus on Tri-Way and CA that are still very competitive. The million dollar question is how can we prevent S to destroy also CA and Tri-way?
One seller (Nordnet = retail)
Edit: I know that guy, reduced his pos by some 16k shares. Intend to keep the rest.
I'm actually encouraged by the results from Tri-way. Please notice the price fall on Mexican white prawns and the poor performance of the competitors. Once again confirms that we are more efficient than the rest. Let's hope we get the financing soon so that we can ramp it up.
Regarding the other parts of Siaf I would just shout it down. If we value our holdings in Tri-way with similar multiples as less efficient competitors, this alone would take us up 10 times current market capitalisation of Siaf.
In Stockholm he said that if he would need to guess, then approx 2 month from now (when he was in Stockholm). However, he also said that it's not up to him, they still had one tricky question left to answer to the auditor/DD, then the local bank office would need to wait on HQ approval.
No, S did not say 6 week. Don't know why you keep posting that statement over and over again...
Revenues same as last Q. They will reduce unprofitable business in SJAP. Nice that we had $3m in consulting = $1m in gross profit.
To remain sane is sometimes the most difficult part in being a successful investor. Nothing has changed since the day before yesterday. I try to use this irrational behaviour to my advantage.
RD: Did you really expect higher revenues than last Q? Remember Salomon talked about to reduce business in SJAP made unprofitable due to import?
Further, they are always late with the reports.
Guys relax. We expected revenues in line or below last quarter and they are always late filing.
Yes, USD 48m, but as you mentioned, 3 is consulting which all other things equal, should generate higher margins.
If I recall correctly, the plan was to IPO Siaf on Oslo but instead they ended up on Mekur with Swedbank (second largest bank in the Nordics) as the lead advisor. Don't make any sense to analyse this further.
My point is that at the end of the day, we will get better terms on financing from banks that are closer to the operations.
Yes we have the right product, at the right time at the right place.
Loser warning on Mr. He. The RAS technology is not profitable within Salmon farming. Instead of looking on Norway, Tri-Wy should do exactly what they are doing. That is to partnership with companies like CibusDx and academic collaboration.
In terms of financing, I prefer ABC and other local banks. Remember Arctic anyone?
Yes. From what I have seen, Tri-way seems superior.
Thanks! Seems like imported seafood like Canadian lobster are included in the gross profit margin which should lower it.
Did you notice that the design of the the facilities they are constructing looks like ODRAS with a roof, similar to Aqua farm 3?
I also noticed that they raised a lot a of cash. Are you aware of the terms?
Gross margin?
Financing for Tri-way and X date = north of 10$
The CEO of CibuxDx states the following:
"We are so pleased to have this agreement to work with SIAF"
"They have state of the art facilities for bio security. We look forward to working with them as they continue building the largest shrimp farm on earth"
Some people here claims that Siaf/Tri-way aren't delivering on its business plan. To increase the R&D component in the aqua sector is one of the main targets. Hence, I consider it to be relevant to communicate achievements like that to the market.
To many people here focus on that Tri-way yet hasn't achieved sufficient financingt and that you can't trust Solomon due to that. When I met him in Stockholm less than 2 months ago, he told me that he's best guess on closing financing for Tri-way was around 2 months from then, with the reservation that it was up to the bankers and not him.
That said, off course I expect some clarifications on both financing and shares in the Q3 report.
Best guess was 2 months. Since when is 2 months = 7 weeks?
Let's not forget that the people in charge are also the largest shareholders. Even due they have made some serious mistakes in terms of financing, they still want the get rewarded. The carve out strategy is aimed to release shareholder value, value that is present at the balance sheet of Siaf but not in the market cap.
Every dollar of asset that you release from Siafs balance sheet and put into the balance sheet of a company trading on a real stock market with normal corporate governance standards (P/B = 1) will result in a gain of 25 $ (calculated by 1$ divided by 4% = 25$, where 4% represents P/B).
Siaf trades at a heavy discount vs NAV. Some investors don't like to invest in Siaf due to corporate governance. Most investors would like to be exposed to the global mega trend with aqua farming. Tri-way has the best know-how and close to the largest market. Tri-way will be traded with a premium to NAV once on the main list in Hong Kong.
Mark, you're struggling with the facts as always. The company has distributed cash dividends 3 times and are about to both distribute 50% of its holdings in Tri-way and to implement a share buyback program and a cash dividend policy at the AGM in December.
Please, stop wasting our time posting all these lies about the company.
I disagree with you. The company released the at agenda for the AGM. 1. Implementation of a share buyback program.
We will have the Q3 report in approx 2 weeks which I expect to be stronger the Q2. Also expect some clarifications. I will add from here.
S estimated 2 months in Stockholm. However, he also emphasised that it was his best guess.
I totally agree with you.
Investing in Tri-way is to place your self en a lead position in the larger, macroeconomic trends. Asia is suffering from pollutants, and governments are taking efforts to shift production to became more environmentally friendly.
Further, people in general are more concerned about how the food is produced, increasing demand for organic products instead of protein food bombed with antibiotics etc.
In Tri-way, we will enjoy an ever increasing demand of products that are produced in an environment friendly way, free from antibiotics. As a bonus, Tri-way can produce its products in a much more effective way than the competitors.
I think it's reasonable to assume that Tri-way will be traded with a premium once we get the IPO done.