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Australian Bight Abalone 2008 Project

Australian Bight Abalone 2008 Project
Cash Rebate1 7.00%1
Closing Date CLOSED
Minimum Investment $25,000 (ex GST)
Term of Project 7 years
Research Adviser Edge 4 stars
AAG 4 stars
ATO Product Ruling 2008/3
 
Telephone: (08) 8377 7805
Fax: (08) 8373 0617

The Australian Bight Abalone 2008 Project has been established to provide Growers the opportunity to carry on the business of growing abalone commercially.

The Project fees have been designed to provide Investors with certainty in contract management costs, whilst reducing sale price risk by providing the Responsible Entity with participation in sales receipts as a major component of its remuneration package.

The Project has up to 80 hectares available for investment and up to 1400 Interests will be allocated to Growers.

There are four primary Project targets that the Manager has identified as being imperative to the success of the Project. Namely growth rates, mortality rates, weight at harvest and price per kilogram. Table One below states the targets set by the Manager.

In relation to price, in the 2005-2006 financial year the total of all Australian exports in abalone was 3665 tonnes at a value of $245,627,000. On a simple calculation basis that would equate to $67.0213 per kilogram. These price figures are for total tonnage and do not relate to actual prices obtained from abalone grown on the site.
 
Table One – Targets
Growth rates 2.65mm/month
Mortality rates 14.66%
Weight at harvest 220 grams
Price $44/kg

The following harvest proceeds will be obtained for each Grower’s Interest only if the targets are met:
 
Juvenile abalone seeded less mortalities: 4,400 x 0.8534 3,755
Weight at harvest (total animals x 220 grams) 826.1 kg
Harvest Proceeds at $44/kg $36,348

DISCLAIMER: Investors should note that these are targets only, they may not be met and are not predictions or estimates of likely return. Past performance is not necessarily a guide to future performance. Investors should also refer to the Investment Risks listed in section 8.0 as these risk factors may impact on the future figures.
 
 Market for the Product
• The primary market for Greenlip Abalone – both cultured (grown) and “wild caught” is China.
• The cultured variety allows the Responsible Entity to meet demand at any time, with any size or weight, and therefore to schedule pre-sales.
• World demand for abalone has not been met by supply since 1975 and estimates for 2007 are that demand will outstrip supply by 30% or more than 5000 tonnes in 20072.
• Supply is perfectly poised for the proposed Australia / China Free Trade Agreement.
• Positioned for further deregulation of Chinese currency.
• World trend is toward cultured seafood.
• Stagnant “wild” caught quotas are unlikely to change.
• World wild catch fisheries have been reduced by more than 50% over the last 25 years.
• Asian markets view abalone as a delicacy.
• Massive growth in Chinese middle class.
• Increased Japanese demand as a result of market recovery.
• Demand can only be met through Aquaculture.
Investment Summary
Close Date 15 June 2008
Initial Investment (ex GST) $ 25,000
Min Number of Interests per Investor 1
Management Fees (ex GST) $2,950 p.a. indexed to CPI
Lease Fees (ex GST) $1,850 p.a. indexed to CPI
Project duration  7 years
Project Size and Raising 28,000 Abtrays®, $35 million

1 100percentinvesting receives trail of 0.5% paid annually for 6 years. This commission is paid by the fund manager and is NOT an additional charge to you.

 2 FISHTECH, www.fishtech.com, “World Abalone Farming”.
Simply download an Investment Brochure/PDS above. It’s that easy!
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