- A1 Investments and Resources’ (AYI) sea cucumber supplier, Tidal Moon, has received final approval to process sea cucumbers at its factory in Denham, WA
- A1 has provided Tidal Moon with roughly $400,000 in advanced payments for product to the supplier to help complete the factory
- Tidal Moon is in the process of completing requirements to allow exporting from the facility to Japan
- This process is expected to take four to six weeks, which will allow the first export to take place in July
- Harvesting the wild sea cucumbers was expected to commence this week, however current weather conditions may delay this
- Company shares are currently suspended, last trading at 0.1 cents per share
A1 Investments and Resources’ (AYI) sea cucumber supplier, Tidal Moon, has received final approval to process sea cucumbers at its factory in Denham, Western Australia.
A1 has provided approximately $400,000 in advanced payments for product to Tidal Moon and and subsidiary Tidal Moon Australia (51 per cent owned by Tidal Moon and 49 per cent owned by AYI) to help complete the factory.
Tidal Moon is in the process of completing the requirements to allow for the export of the processed sea cucumbers from its facility. This process is expected to be completed in the next 4 to 6 weeks. The company is planning the first export to Japan to take place in July.
Harvesting the wild sea cucumbers was expected to commence this week, however due to the major low-pressure system affecting the Western Australia coast this week, harvesting may be delayed.
“The Tidal Moon factory and drying facility were constructed in accordance with the latest codes applicable to building in cyclone areas,” the company said.
Company shares are currently suspended, with last trade at 0.1 cents per share.