Imagine if copper had almost tripled in price since March 2009? Sure it is considerably higher than 18 months ago but only tin and sugar has done as well as PAG's main product: cotton. From just over 40c it is now just under 116c/lb. PAG's dams are full and planting a 12,500ha crop is well underway. If anything it's a bit too wet underfoot.
Irrigation allows PAG to produce 3crops in 2yrs. Cotton, wheat, fallow, cotton, wheat, fallow etc. Naturally, the high AUD is mitigating full benefit of record cotton price, but that applies to all commodities. NTA of $1.89/share.
See latest info on this commodity report.
http://www.abc.net.au/landline/
imagine if copper tripled !!
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