Nippon Suisan Kaisha : Acquisition of Capital in Seafarms Group Ltd., page-83

It's hard to say - in my view SFG remains a spec-stock with great upside potential - would I bet the family farm on it? No. Would I be happy to put say 20% of my portfolio into? Well my portfolio wouldn't buy a house in Melbourne, so sure, why not. Having said that, there are a lot of the longer-term holders punching out now that there is cash coming into SFG.

In my mind, this is a great company to put $20-50k into and see how it goes over the next five years. I've seen lots of single buyers with $30-50k coming into the market - looks like SMSFs are here and they're buying SFG as their spec stock.. Volume is up through the roof, indicating that we have the market's attention. I think we go up to say 10-11 cents over the week ahead, and then range bound between about 8-10ish until the foreign investment review board announcement? At which point I'd see us moving to around 15 cents.

I don't know, if I had a crystal ball, I could probably afford that house. SFG behaves a lot like a junior mining firm, and I'm aware that we've only got six more months of dry season to go. I feel like we're behind schedule but have a really good shot going forward. But we're going to burn about 45-60 days in the FIRB process. Even if everything is ready to go that only gives us three months this dry to get stuff moving. Once we start hitting construction milestones, it will go up like a rocket. And, if prawns ship on schedule, I'd expect this company to be an ASX 200 stock around mid 2021.

In my mind it comes down to:
1. How long will the FIRB take?
2. Will they say yes?
3. How much will CO2A sell for?
4. When does construction start?
5. What can the company achieve in this dry season?

As usual, I remain convinced that project sea dragon will be built. And, SFG remains in the lead to build it, will phase one be ready in 2021?

I'll be topping up when dips occur and money becomes available. Only time will tell if this was a good idea. DYOR, GL.

(Today or tomorrow I'll write a new what we know/what our risks are/what our valuation looks like thread - mainly to get it clear in my own mind.)