Ann: Acquisition of NT Portion 5088, page-2

Well that was quick

The divvy was a good surprise being 10cps and fully franked, I don't think I will take
up the DRP, I will probably put it into AACo or just in fixed interest or cash

Regarding the NT property, I initially thought 5k per hectare up there was over the top, but
it looks like we are buying half a town, 5 or 6 houses or humpies and shedding power etc,
looks like maybe a timber plantation in parts of it, lets hope they learnt well from mountain
valley station, both properties look similar in pics, though I know MVS is mainly just grazing
land and now some rainfed cropping, whereas this would be irrigated cropping, it will be
interesting to see what they are going to use it for

It also looks like NT farmers assoc and maybe NT gov were behind selling it, I can find a listing
for our parcel and probably the lakes nearby back in 2010, sold by receivers, but i cant find
a price for it, the housing seems to be there in 2010 so could be in fairly poor condition now,
our new director probably would have had a fair say in its purchase seeing as though he
was the ex CEO of NT farmers assoc and dept of primary industuries for the NT gov...it does
look like we will be spending a fair bob on it however we develop it...well I hope that is all
we are going to buy for now, we dont need huge amounts of debt with interest rates where
they are and IMO probably are not going back anywhere as low as what they were recently

money does seem to burn a hole in their pockets

cheers grant




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