Latest Project Sea Dragon News

Seafarms Group has terminated CEO Peter Fraser for cause and appointed Rod Dyer as CEO on an ongoing, casual basis with hourly remuneration.

Seafarms Group has completed the acquisition of Project Sea Dragon's assets, clearing legal hurdles and advancing its prawn farming operations while actively pursuing new funding to support growth.

Seafarms Group Limited reported a reduced loss of $11.7 million for FY2025, despite a 43% drop in revenue and ongoing legal challenges surrounding Project Sea Dragon. Production setbacks from flooding and subdued market demand weighed heavily on results.

Seafarms Group has completed a $6.83 million sale and leaseback deal with Mainstream Aquaculture, ensuring continued prawn farming operations at Cardwell through early 2026 and beyond. This strategic move supports ongoing growth amid strong domestic and international demand.