Worse Is Yet To Come?, page-1457

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sim666

1,042 Posts.

20/09/17

16:31

Post #: 27347985
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Originally posted by usc75 ↑

Aussies Stuff Up, Chinese Buy Up: Winds Of Change In No # 1 Cow Shed.

View attachment 737952

All the Aussies bar one have vamoosed, leaving Murray Goulburn dairy carcasses to Chinese bidder, Mongolia Yili Industry Group?

Yili's rumoured bid is $1.20/Unit, double last month's VWAP, but a fire-sale price. But ASX:MGC is "Mum" so far today.

MGC's history post 2015 ASX Float has been disaster for dairy farmers. A road to ruin for all participants (see photo) bar one: Coles CEO John Durkin who did the MGC-Coles 10-year deal which sees 1 litre full cream milk (as Coles brand) retailing for $0.90 carton in 2017, massive discount to cost of production.

True, MGC dairy farmers are to blame; including architects Phil Tracy (former Chairman) and Gary Helou (former CEO). See Photo. Plus $35m paid to corporate "advisors".

Apart from Chinese Yili, there's no shortage of corporates waiting to pick over the bones. Plus their multitude of corporate "advisors".

Murray Goulburn Dairy Farmers have been on notice since 2015-16, yet failed on all occasions to take notice or decisive action.

One key alternative is in farmers best interest: revert to pre-2015 corporate status-a 100% full farmers Co-Operative. Ditch the ASX listing. Farmer's last chance:

Vote wisely, dairy farmers, to avoid losing it all.

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usc writing his own pieces again i see.

MGC Price at posting: 77.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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