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Gigante Salmon AS ( (DE:96M) ) has issued an announcement.
Gigante Salmon AS has reported positive developments in its first quarter, with a standing biomass of 1,070 tonnes and the completion of two out of three production basins at its facility in Rødøy, Norway. The company has begun harvesting from trial production, expecting approximately 550 tonnes HOG, and achieved GlobalGAP certification. Despite weather-related delays, the project remains on track, with plans to release 2.2 million smolt in the third quarter. A shareholder loan of up to NOK 50 million will be established to manage liquidity risk during the final construction phase.
More about Gigante Salmon AS
Gigante Salmon is a land-based salmon farming company with its first production facility under construction on Lille Indre Rosøy in Rødøy, Norway. The company’s aquaculture concept is based on a flow-through system, combining the benefits of conventional and land-based aquaculture while eliminating issues associated with conventional, sea-based farming.
YTD Price Performance: -4.38%
Average Trading Volume: 150
Technical Sentiment Signal: Buy
Current Market Cap: €108.9M
See more data about 96M stock on TipRanks’ Stock Analysis page.