Harvest update - what I understand
1. 650 ton are kidding themselves? Surely any self respecting ceo and chair would resign on these results? And what I understand most is wet and mouldy that will get rejected! That will put most regular contracts into default! Well done agri team!
2. No clusters, millions and years spent on building a leading global product and they deliver none? Wtf, should be - $15million line
3. Third party fruit has actually fallen substantially, not increased they included the fruit From Colignon in there numbers. The largest dried fruit property In Australia that mro historically controlled, but gave up at a massive cost and handed to a competitor on a plate! Who would support mro in Mildura?
4. Table grapes is a joke, they compare it to last year, which they also were the managers? They property should do in excess of 1500 ton per years. It still is under performing massively!
5. My understanding is the largest property they still own, Yatpool was locked up after harvest and no one has been back. Given it is nearly August and staff are in short supply they have no chance of pruning it all in 4 weeks! So I assume they have given up on that farm. Which I assume should be announced to the market? I cant see it advertised anywhere, so what is happening with it? Anyone know?
The Future
I assume the only way Val and Andrew can keep there jobs is to sell all of Mildura properties (land value only)and pay off there debt probably with another capital raise, telling bullshit to shareholders through there over paid friends/advisers. And then sell Museli until the cash runs out in a few years! Or then blame Erling and I!
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