Commencing in 2005, as Western Australian Resources Limited, our early history was in minerals exploration and identification of under-allocated and new water resources. In early 2011, WARL embarked on a new business direction to investigate opportunities for new water projects, agribusiness, food development projects and aquaculture.
In Q2 2013, having completed a concept study for the development of large-scale aquaculture systems in Australia, WARL’s directors determined that several particular opportunities should be further analysed. Project Sea Dragon was initiated soon after and a formal process of project pre-feasibility studies commenced to assess its viability. Within the same year the CO2 Group acquired WARL, with WARL becoming a CO2 Group subsidiary.
In 2014, CO2 Group changed its name to Commodities Group Limited, and WARL changed its name to Seafarms Group Limited.
And most recently Commodities Group Limited has changed its name to Seafarms Group Limited, to better reflect the overall company business focus.
BACKGROUND & CORPORATE HISTORY
ACTIVITIES AND SIGNIFICANT MILESTONES
– 23 March, 2017: The Northern Territory Environment Protection Authority (NT EPA) has recommended approval of Project Sea Dragon Pty Ltd’s proposal to build and operate a new prawn growout facility at Legune Station, near the Western Australia border.
– Seafarms Group presents at the North Atlantic Seafood forum in Bergen.
– Project Sea Dragon receives Major Project Status by the NT, WA and Federal Governments.
– Seafarms Group mandates Pareto Securities – world’s leading investment bank in Seafood – to assist the company in securing the capital required to develop the company’s world class Project Sea Dragon.
– Commodities Group Limited changes name to the Seafarms Group Limited.
– Seafarms Group completed the acquisition of the prawn farming business and assets of Queensland prawn aquaculture company Coral Seafarms Pty Ltd.
– Seafarms Group announces it will be an industry participant in a research consortium recently awarded a prestigious Australian Research Council, Industrial Transformation Research Hub (ARC ITRH) funding grant. The research will for the first time link the genetics of the Black Tiger prawn (Penaeus monodon) to the selection of superior breeds of Tiger prawn to transform the productivity of Australian prawn farming operations.
– Northern Territory Government passes amendments to Pastoral Lands Act allowing subleases to be created on pastoral land for non-pastoral uses such as aquaculture.
– WARL signs Relationship Agreement with CSIRO for the provision of aquaculture research and development.
– WARL changes name to Seafarms Group Limited (Seafarms) to better reflect its new business direction and operations. Seafarms’ parent CO2 Group undergoes restructure and implements name change to Commodities Group Limited (CGL).
– Acquires assets and business of Seafarm in Cardwell and Innisfail, Qld (NQ1 Acquisition) – the longest operating and one of the largest prawn farming operations in Australia, producing and marketing the “Crystal Bay Prawns” brand of high-quality farmed banana prawns available at supermarkets and leading seafood suppliers.
– Undertakes detailed Prefeasibility for Project Sea Dragon.
– Completes Concept Feasibility for the development of large-scale aquaculture production systems in Northern Australia.
– Acquires Marine Farms Pty Ltd a barramundi farming operation and facilities in Exmouth WA, to be re-developed as a prawn broodstock and breeding facility to support Project Sea Dragon.
– Initiates Project Groper – a feasibility assessment of opportunities for M&A and consolidation in the Australian prawn production and supply industry.
– WARL acquired by CO2 Group Limited (ASX: COZ).
– Undertakes preliminary investigations for large-scale integrated prawn farm development in Northern Territory/Western Australia (Project Sea Dragon).
– Appoints new Board members.
– Embarks on a new business direction to investigate opportunities in water, agribusiness and food production.