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Atlantic SapphireAtlantic Sapphire

Atlantic SapphireAtlantic Sapphire

Atlantic Sapphire

Atlantic Sapphire Corporation is an independent precious metal resource company. Atlantic Sapphire actively mines, explores, and holds the right to acquire, mine and explore to the earth's surface, including on land, and owns or controls a large portion of the seabed surrounding the New Brunswick coastline in the Gulf of St. Lawrence.

News

The company, which ultimately aims to produce up to 220,000 tonnes of salmon a year in Florida, was most recently in the news for the destruction of its 2,400-tonne capacity Danish facility – and all the fish present in it – in a fire. However, Karl Øystein Øyehaug believes that their flagship Florida RAS facility is now ready to demonstrate that growing market-sized salmon in such land-based conditions is financially viable.

“If we look at what's happened over the last couple of years there is no doubt that the Atlantic Sapphire, has had some challenges that we were not expecting when we started out… and we do feel that we have had more bumps in the road than what we could expect,” he said in a recent webinar organised by Undercurrent News. (Source: thefishsite.com)

Salmon Farm

“These types of projects are very capital intensive, it does require a lot of CapEx to build the facilities and the only way to make them profitable, is to take advantage of economies of scale, you will not be able to build a small RAS salmon farm, and make it work financially. That is simply not possible due to the very high fixed cost nature of this business. In order for this to succeed, and I think that Atlantic Sapphire has made this clear to many investors, in order to succeed you need certain set of attributes to the company, you need the right team. You need the right location with the right naturally given conditions, specifically, water intake and discharge. You need to have the right construction partners because this is not a small-scale, small farm somewhere in Norway that has been done 100 times before, this is large scale infrastructure that requires completely different skills. And last but not least, we've seen that, having experience is so important. We've been doing this for 10 years. And even though we've been doing this for 10 years, we still stumble upon unexpected challenges. So, in order for this to succeed, you need all of those factors, and I think that over the last year especially, investors have become more and more educated on what to look for,” he argued.

Johan E. Andreassen, CEO of Atlantic Sapphire USA LLC, said "Atlantic Sapphire's business case is centred on technological development and in-market production of delicious and healthy salmon with significant sustainability benefits compared to conventional ways of salmon farming. Having our most important production input locally fits perfectly with this strategy, as it reduces production cost and GHG emissions significantly, while at the same time accelerating the technological development of a customized feed for our Bluehouses that we expect will lead to higher productivity and output. Further, we see this agreement with the world's leading salmon feed producer as a strong sign of confidence in our business case and future growth." (Source: www.prnewswire.com)

“So what we will be doing over the next 12 months until we are in full, steady-state production in Phase 1 is to give the investor community KPIs on how things are going, how our growth curves looking, how is biomass gain is looking to make it easier for people to track the positive developments because at the end of the day and the reality with salmon farm, is that there is a long lifecycle from egg to harvest. (Source: www.aquaculturenorthamerica.com)

Stock

Atlantic Sapphire ASA announced its first day of trading on the Oslo Stock Exchange (Oslo Børs) on 5 May, 2020. The shares are listed under the ticker “ASA”. Continued innovation in Bluehouse salmon farming, selling USA Raised Bluehouse Salmon across North America, and on the leading stock exchange for seafood companies globally.

Atlantic Sapphire (AS), the world's largest land-based Atlantic salmon producer, remains bullish on its chances for success with a new stock of fish despite a fire that led to the death of its earlier biomass, its principals said during a monthly update of the company on Wednesday [...] (Source: www.undercurrentnews.com)

 

Salmon

“The positive is that now, all of those ramp-up issues have been fixed. Risk is considerably lower in our day-to-day production, and the batches of salmon that were introduced, from middle of 2020, those will raise the bar on what performance is going to be like. We expect that when we start harvesting those batches in the middle of next year, you will really see what the industry can aim for here,” he asserted.

“These types of projects are very capital intensive, it does require a lot of CapEx to build the facilities and the only way to make them profitable, is to take advantage of economies of scale, you will not be able to build a small RAS salmon farm, and make it work financially. That is simply not possible due to the very high fixed cost nature of this business. In order for this to succeed, and I think that Atlantic Sapphire has made this clear to many investors, in order to succeed you need certain set of attributes to the company, you need the right team. You need the right location with the right naturally given conditions, specifically, water intake and discharge. You need to have the right construction partners because this is not a small-scale, small farm somewhere in Norway that has been done 100 times before, this is large scale infrastructure that requires completely different skills. And last but not least, we've seen that, having experience is so important. We've been doing this for 10 years. And even though we've been doing this for 10 years, we still stumble upon unexpected challenges. So, in order for this to succeed, you need all of those factors, and I think that over the last year especially, investors have become more and more educated on what to look for,” he argued. (Source: thefishsite.com)

 

 

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