Arafura Pearls Holdings (APB)

Shares / Stock Code

APB

Stock Exchange / Sharemarket

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Arafura Pearls Holdings (APB) is an established producer of Australian South Sea Pearls. The Company is in the business of pearl oyster hatchery and pearl farming since 1998. Arafura listed on the Australian Stock Exchange on December 21, 2006. Arafura started its operations at Elizabeth Bay, on the north-eastern tip of Arnhem Land with its first pearl harvest in 2001. During the fiscal 2006 the Company purchased the operations of Toomebridge, the lessor of Quota to Arafura Pearls thus having an increase in the Quota by 40,000 and taking over the initial Quota in the Arafura Pearls' own possession. During fiscal 2006, APB acquired 80,000 Quota for about six years time period from the South Sea Pearling Company. During the fiscal 2007 the Company acquired a further 60,000 Quota from the Arrow Group thus increasing its total Northern Territory Quota up to 220,000. During fiscal year ended June 30th, 2007, the Company announced the Joint Venture agreements with the Arrow Group for the management of its Beagle Bay farm located in Western Australia.

Arafura Pearls' Board and management team is highly skilled in the areas of pearling and commercial and managed investment scheme along with having the experience in senior positions at Australia's two leading pearl producer companies, Paspaley and Kailis pearling. The company is making rapid progress. Since 2005, Arafura's access to quota is quadrupled, with its harvests trebled in the last three years to 21,000 pearls in 2006. APB generated its first profit in 2006.