Added to YB: 2026-07-02
Pitch date: 2026-06-30
ATP.AX [neutral]
Atlas Pearls Limited
Author Info
No bio for this author
Company Info
Atlas Pearls Limited produces and sells south sea pearls in Australia and Indonesia. It owns and operates silver and white sea pearl.
Market Cap
AUD 36.2M
Pitch Price
AUD 0.09
Price Target
0.17 (+95%)
Dividend
N/A
EV/EBITDA
1.90
P/E
7.97
EV/Sales
0.69
Sector
Textiles, Apparel and Luxury Goods
Category
turnaround
My Pearls Are Under Water - Atlas Pearls Limited
ATP.AX (holding update): Only listed South Sea pearl producer, no debt, but easy thesis dead post 60% round-trip to $0.082 (~$36M cap, $26M EV). Author admits cost error: true breakeven ~$50/pearl (not $37) incl tax. H1 FY26 loss on weak harvest quality (low-grade dump at $7 vs ~$45 cost). Cash halved to $9.7M, dividend cut. Bear $0.046 (-56%), base $0.094 (+15%), bull $0.166 (+102%). Fairly valued now; holding 2-3% position underwater.
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