Abu Dhabi meeting with CEO, page-60

Thanks ValueBuddy89 - really insightful.

As an indirect but relevant topic, I would highly recommend people to subscribe to the podcasts "Adventures in Finance" which is a free weekly series put out by the Real Vision team - absolutely excellent.

As it relates to QIN, the latest episode (11) focuses on the mess that is the pension sector and the simply massive unfunded liabilities that exist and are, in this low interest rate/ low return world, simply unfixable due to compounding, or a lack thereof.

What it shows to me is that very credible funds are desperate for yields and IRR hurdles are lower than historic norms and non-traditional sectors are being considered for investment.

As ValueBuddy89 alludes to above, serious funds may be very happy with the IRR's offered by QIN, even if they are lower due to silvicultural issues - which are improving.

QIN are focusing on a two tier marketing model:

(1) High value pharma ingredients, formulations and brands in the Western World
(2) Religious, cultural, traditional markets in Asian EM markets

Both of these sectors have huge growth opportunities.

New applications in the pharma sector are obvious and well documented via company announcements. Clinical studies are very positive across a range of applications and have already achieved commercial success. [ Yes hottuna; I would consider the production of 1m units of Benzac products a success]

Traditional market focus will benefit hugely from positive demographics and a rising per capita standard of living in these regions.

Despite the issues that many have highlighted here, I do think that QIN has a sound business model and bright outlook, despite the issues and hurdles that they, as a cash hungry pioneering business are progressively overcoming.

Cheers
John