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clock Created with Sketch. 12/11/20
09:36
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Originally posted by Hopeful9:
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Great how the 'core debt' has reduced from $802 million in 2018-19 to just $37 million in 2019-20. However this is projected to rise somewhat in 2020-21 due to that $15 a tonne payment (capped IIRC) due to the crop production contract insurance GNC took out. The maximum it must pay the insurer is A$70 million (although in a bad year the most it can receive from the insurer is $80m, with an annual $6m premium). The MD Mr Spurway previously said on balance, this is a good arrangement for GNC.
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Haha yes I liked the 'additional tarps required' line. I worked for Graincorp a few times over harvest when I was a bit younger, puling the tarps over mountains of grain was always the most frantic task if it looked like rain, and it was a bigger job than it sounds!
(20min delay)