Befor the Qld farm was acquired and the farm in northern vic the company had a 10mil loan facility, close to 10mil in franking credits and 8mil in the bank a buyout seemed a possibility.
I personally don't think that's the case now even with the share price at 90c (50mil market cap)
I believe Bruce will grow this company over the next few years with the two land buys mentioned above.
As recorded in CEO presentation this business is cyclical and we have turned to oversupply. In my opinion it might take 3,4,5 years for consumption to catch up with supply but this company will weather any downturn and be stronger on the other side.
I hold this stock and would have a buy sentiment but think it can go lower if first half profits are worse then projected in CEO pres.
FRM Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held
