Commodities Group (ASX:COZ) and Clean Seas Tuna (ASX:CSS) are attracting market attention.
They are following the blueprint laid down by successful Australian salmon farmer Tassal Group (ASX:TGR) which is now capitalised at well over $500 million.
COZ is capped at $38 million, and CSS at $90 million.
COZ has developed into Australia's largest aquaculture prawn farmer after recent acquisitions of Coral Sea Farms Australia and Seafarm in Queensland, and Marine Farms' aquaculture site in Western Australia.
The acquisitions are part of COZ's Project Sea Dragon - the development of a world class, 100,000 tonne per annum Black Tiger Prawn aquaculture industry.
A current hatchery expansion will supply the new operations and assists in supplying COZ's expanding export market.
The latest purchase, Coral Sea Farms, is located a 30 minute drive from COZ's existing operations at Cardwell, and within a logistically connected three farm hatchery and processing ‘hub’ allowing for consolidation of resources and economies of scale,
COZ will be stocking the ponds later this year with Black Tiger Prawn larvae produced from its expanded hatchery.
The Coral Sea Farms business includes 32 hectares of ponds, a processing facility and related plant and equipment.
Seafarm grows, processing and distributes the well-known Crystal Bay Prawns™ premium brand.
COZ recently raised around $10 million at $0.05 per share, with the company's two largest shareholders, Ian Trahar and Paul Favretto, contributing a combined $5.5 million.
The stock is trading today at $0.062.
