Ann: Investor Presentation FY22 1H Results, page-20

$1.80!

Well I'm kicking myself for selling a parcel early in the day! Ah well. I still have a decent chunk of holdings (>10% of the portfolio)... I posted about a month ago that my fair value calculation was $1.70-$2.10 I haven't changed that view at present. The earlier analyst report linked above is at $2.40....

The big hole in my knowledge about Ridley is in their packaged feeds side of the business and their rendering. Half their income comes from that and I know very little. Most rendering in Australia is smaller unlisted companies: https://www.ausrenderers.com.au/index.php/membership/directory?resetSearch=1&preserve=0