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Barramundi Harvests Pave Way For Profits

Economics +1 more

THAILAND - Initial commercial harvests of premium barramundi recently took place at Cell Aqua and were consequently processed near the companys newly established farming operations in Thailand, paving the way towards profitability for the Company.

Having located an outstanding aquaculture development site in Thailand and commencing production in October 2010, the company is delighted with the progress which has been made from the first stage of the site’s development.

The initial barramundi harvests and commencement of revenue, represent another significant milestone for the Company, again offering a complete ‘proof of concept’ of Cell Aqua’s entire vertically integrated ‘Hatch to Dispatch’ business model.

The processed fillets are then shipped to Cell Aqua’s wholly owned food processing operations in Western Australia – Cell Aqua Foods Pty Ltd, where they are value-added, packaged and sold into the ‘IGA Supermarkets Network’ and ‘Farmer Jacks’, under the company’s Eco-Star™ brand.

Further details on the company’s new range of Eco-Star™ products and developing markets are provided later in this edition of Inside Cell.

The commencement of barramundi harvests will result in a significant uplift in revenue for the company, with the intention to progress towards profitability as production expands from the Thailand operations.