Ann: Harvest Update and Revised Earnings Guidance, page-47

... very interesting.. I will avoid topping up for now, at least, before our management can answer 2 questions.
1) 3 weeks ago our MD said in the conf call that after harvesting 20% of the crop , there were no indication of any issues with the yield and weight of the crop. Now, I find it nearly impossible to believe that 20% of the crop from the same location would be so significantly different from another 60% which were harvested in the last 3 weeks.
maybe I misunderstand a potential for variability of Sultana crop? If someone on the forum has more knowledge, your comments would be really appreciated.
2) if there were a high uncertainty with the crop weight and yield, why our management invested 7 mln+ cash in buying another asset without waiting for the harvest to be completed? Why did they put the company under a possibility of breaking bank covenants without a possibility of reducing leverage, expect from a cap raising? I find it very amateurish and unnecessary risky to do such acquisition with cash when there were so much uncertainty. My thinking for my initial buying at around 60 cents was very much affected by this 7 mln cash acquisition as I thought that if there were any possibility for another downgrade, the management would never buy such a significant asset with cash.

.. so far, it is very poor performance from our MD in managing investors expectations. 2 big downgrades in only 3 weeks ?
if anyone on this forum has connection to Acorn Capital, can you share their prospective ? They have increased their holding from 5.40% to 7.2% after the first downgrade .... The MD has to get his act together: it is not an issue of weather, it is an issue of risk management and straightforward communication with the owners of the company. I find the last downgrade incomprehensible and will demand the management to answer the above questions. If you have any other question (apart from the 2 above), please post them here, so we can have all questions from this forum in 1 email.