Cervantes Corporation Ltd is an ASX listed company (Public, ASX:CVS) which has in recent years been predominantly in the Lobster catching, processing and sales industry. Since being recapitalised in mid 2007 and changing its name, Cervantes has continued to maintain their activity in this sector by way of income from the Lobster Pots and Abalone Hybrid research, whilst seeking additional opportunities.
Cervantes prime operations until it suffered severe losses in 2004 was in the Lobster catching, processing and sales Industry. When the company was withdrawn from the control of the liquidators in 2007 with approval of the ASX and with the successful raising of Capital, the Board of Cervantes continued to seek opportunities in this sector without success to date with the exception of investing in a research program for the breeding of Hybrid Abalone. The intention was to breed young abalone and sell them for outgrowing in various countries to saleable size to consumers. Recent discussions have been involved in merging this section with a Namibian group who have an established Abalone operation and these discussions are still ongoing.
Cervantes retains a Seafood processing licence and the board continues to seek opportunities for this asset.
Cervantes also owns 8 Lobster Pot licences which it currently leases out to operators until it can find a more rewarding and cash flow use for them to benefit shareholders.