Key Highlights

  • On 29 October 2026, Seafarms Group Limited (ASX:SFG) was quoted at AUD 0.002, with the daily change shown as unchanged. This article covers shrimp production and export sales, project sea dragon approvals and the company’s wider disclosures.
  • Seafarms reported a 242-tonne Black Tiger shrimp crop and AUD 1.6 million of quarterly export sales.
  • The group continued work on Project Sea Dragon approvals and financing while reporting an operating cash outflow.

Seafarms Group Limited (ASX:SFG) reported company-specific developments spanning its latest results and operating activities. On 29 October 2026, Seafarms Group Limited (ASX:SFG) was quoted at AUD 0.002, with the daily change shown as unchanged. Seafarms reported a 242-tonne Black Tiger shrimp crop and AUD 1.6 million of quarterly export sales. The group continued work on Project Sea Dragon approvals and financing while reporting an operating cash outflow. The disclosures also address quarterly customer receipts and spending and hatchery operations and project status.

Shrimp Production and Export Sales

The Queensland Black Tiger shrimp crop finished during the June 2026 quarter with total production of 242 tonnes. Most harvested product was processed and frozen for export, while the balance was cooked for Australian sales. The company reported quarterly sales revenue of AUD 1.6 million, derived entirely from export sales. The crop and revenue figures cover different measures: harvested tonnes and recognised sales for the quarter. The company also continued hatchery activity at Exmouth and preparation for post-larvae production at Innisfail.

Project Sea Dragon Approvals

Seafarms, through Sea Dragon Shrimp Pty Ltd, continued work on transferring licences and approvals from the liquidator of the former Project Sea Dragon entity. The company described a disputed AUD 1.4 million held by the liquidator as the remaining issue in finalising the liquidation. A Federal Court hearing had taken place in August 2025 and the parties were awaiting judgment at the time of the July quarterly disclosure. Seafarms also continued contacting potential financiers with a view to project funding and an eventual final investment decision.

Quarterly Customer Receipts and Spending

The Appendix 4C reported receipts from customers of AUD 2.565 million for the June quarter. Payments included AUD 2.183 million for product manufacturing and operating costs, AUD 2.643 million for staff, AUD 692,000 for leased assets and AUD 671,000 for administrative and corporate costs. Net cash used in operating activities was AUD 3.656 million for the quarter. These cash receipts are not the same accounting measure as the AUD 1.6 million export revenue reported in the operating update, and should be read separately.

Borrowings and Funding Position

Seafarms reported AUD 3.880 million in proceeds from borrowings during the quarter, helping fund activities while Project Sea Dragon financing remained unresolved. The company referred to continued support from Avatar Finance and noted that it was considering asset sales and further borrowing to fund existing operations. It also referred to an expected distribution once the earlier Project Sea Dragon liquidation was finalised. These matters were presented as financing arrangements and possibilities, rather than completed project financing.

Hatchery Operations and Project Status

At Exmouth, the breeding program progressed during the reporting period. The Innisfail hatchery was preparing for post-larvae production in the following September quarter, with intended output for company use and commercial sales. The company’s wider operating position combined existing prawn production in Queensland with the separately financed development program for Project Sea Dragon. At the reporting date, financing and the transfer of project licences remained outstanding. The company did not announce a final investment decision in this quarterly update.

Key Insights

Overall, Seafarms Group Limited reported seafarms reported a 242-tonne Black Tiger shrimp crop and AUD 1.6 million of quarterly export sales. the group continued work on Project Sea Dragon approvals and financing while reporting an operating cash outflow. The announcement also addresses quarterly customer receipts and spending, borrowings and funding position and hatchery operations and project status. These are company-reported results and planned activities for their stated periods; announced targets, proposed transactions and pending approvals remain distinct from completed outcomes.