We already buy water from D2O, like I said it was just a guess...

We already buy water from D2O, like I said it was just a guess that this might happen with our new properties

Yes I agree about interest rates and valuations, there has been a few recent auctions in the forbes region
that have passed in asking around that $6-7K a hectare (Dryland) but I couldnt compare that to our farms,
(I dont have the knowledge) though the latest is not too far from one of our kentucky properties

I think Piambie and Glenn Innes could be OK, like stayer said,it doesnt look too expensive,surely that amount
of water has to be worth a bob or two, and we should get a good chunk of it for the next year or two with
flooding occuring in the Murray system and if we are going into permanent plantings then having duxton
as manager means we are always going to have water...but at what cost like you said

It seems that Piambie is in the Murray salinity plan and from what I have read but maybe not understood
is that if being the case we have to pay for our 9meg annually to fight salinity, whereas upstream a bit
you dont have to contribute to the salinity plan...if I am correct how much do we pay for it

I suppose it comes down to trust and the verdict is still out, we know your thoughts Cocky, I have had my
judgement tested by a few sets of management lately and it has come up lacking on two occassions,
one through dishonesty and one through incompetence.....I wont go there

If I was like you and had the skillset and knowedge to be a farmer, then I would not invest here either

But I dont, and I dont have the years to learn either, so to me this is where I am parking some dollars
to ride out what I see as a good chance of a very severe recession or worse on the horizon, I dont see
Duxton as being dishonest or incompetent, unlucky yes, so far...the jury is out...40% discount to NTA
there is obviously a reason for that but that isnt helped by the very low liquidity

I have been an active investor for over 40 years and I hope my judgement doesnt let me down again

take care
cheers grant