Thanks for the heads up re possible capital raise. I'd happily participate.
Agree re cotton. A highly variable business (prices, weather) though their sizeable water holdings should help smooth things a bit.
Re walnut yields being 'back to expectations', that might be a little conservative?
Webster has stated it expects its mature orchards to yield 5.6 tonnes per hectare.
So 5.4 tonnes is pretty close to peak performance, especially considering their orchards contain some immature trees - though perhaps only a smallish percentage now? (sadly it seems they no longer publish age profile of their trees).
If nothing else, yesterday's announcement suggests Webster's decision to shift the focus of its walnut operations from Tasmania to NSW has been successful. That was a visionary move, and not without risks. Credit to management for pulling it off.
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