Ann: AGM Chairmans Address and Presentation, page-3

Finally bought some of this and will keep watching and accumulating if things continue on track.


I think its interesting that ARC own 11.8 million shares in the very thinly traded NAM.  NAM has been climbing slowly higher, admittedly on low volume - but clearly some still see value even at the higher prices. There hasn't been a corresponding rise in ARC prices, even though they now own $4.4 million of stock (at the last traded price).  

The NAM net tangible assets per share are over $1.10 yet it trades at around 30% of this.  Even at current market prices ARC seem to have made a sensible initial investment there with great potential if the corporate restructuring at NAM comes off. Even moreso if the reported interested in Cotton comes true, regardless NAM is profitable now and may be more attractive with a simpler capital structure.


See my post above, but as NAM goes up, ARC is highly leveraged to it.. even fully diluted at 50c the Market cap is $8.5 million with $4million in cash and whatever NAM is worth (Currently $4.4 million) so EV = $0


@Tiglath @eight , @ndpjai and @dylanava  might be interested - some similarities to AHF in its early days.  Whilst it is also quite different, it is also;

• Financial guys, putting their capacity to raise and manage capital into a currently unloved agri-sector.
• Proven foresight (thusfar) with their NAM investment
• Hedged to some extent that if their fund management comes off, then the potential for financial services revenue streams - not tied to underlying agricultural cycles.
• Buying whilst something is at the bottom of the cycle can work (well it worked well for me in AHF anyhow!).

Hoping that ones ARC cracks 50c  some of the options might get exercised to provide some liquidity, or even a capital raising wouldn't hurt to provide some more free float.