Troubled South Australian tuna farmer Clean Seas Tuna has been placed in a trading halt as it prepares to announce a capital raising to support its plans to ramp up its kingfish operation off Port Lincoln from 500 metric tons (MT) to 1100 MT a year.
The ASX announcement said simply that the company had sought the suspension as it “expects to make an announcement in relation to a proposed capital raising” before trading opens on Thursday.
There is plenty of potential upside in Clean Seas Tuna, given that it was steady in trading at AUD 0.028 before the suspension was granted.
