Milestones and Targets

Construction of the first trout farm will take place in Q3 2014. There is concrete support and investment in this farm from AFB shareholders, the DTI, the IDC, Woolworths and other private investors. The size of the investment from these players will determine the output capacity of the farm. We anticipate building on 830-ton trout farm in Q3 followed by a second farm of a similar size in Q4 2014.

It takes approximately six months to build and complete a farm with a hatchery. The production of the first trout farm will commence in Q3 2014. Seven months later the first fish will be harvested. The same cycle will apply to the other farms. The roll-out of future farms is linked to the amount of investment raised. We have allowed for spare capacity on all farms to provide more fingerlings than needed. The sale of fingerlings is another lucrative form of income for each farm. Fingerlings could be sold to local cage and pond farmers in the area. Such trade will stimulate the local economy and provide additional revenue streams, for example by supplying fish feed, plus buying back the farmer’s harvest once the fish reach market size.

 

• AFB has identified eight farms in phase one for a project roll out in 2014.

• Two trout and salmon farms will be built in South Africa. The first of these farms will the mother ship project in which AFB will have a 30% equity stake.

• Four farms have been targeted for Malawi;
• One farm in Ethiopia.
• One farm in Ghana.

 

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