I love how downrampers all of a sudden cant count...
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Then in the reply to the speeding ticket on 2/March they say in response to question 3(a):
On 23 February 2018 the company released an ASX announcement containing a comprehensive Corporate Update that, in addition to a detailed overview of its current operations and business development activities, reported: the company market capitalisation at $4,600,000; the value of cash, receivables, and an investment property of $5,100,000; and the company holds contracts that are expected to deliver gross cash-flow of $23,500,000 between now and the end of 2027.
So - 143,599,988 x current SP (7.1c) = $10.2m mkt cap less $5.1m (cash, receivables & investment property) leaves an EV of $5.1m
I came across this yesterday & it indeed looks like a very interesting play given they're already in the milk game & have $23.5m of contracted revenues.
Further, the 2 director's Andrew & Neil McBain - are they related to Laura McBain of Bellamy's fame? I don't know, so would welcome some light on this. If they're related, then IMO they're getting ready for a tilt at the Chinese IF market as Laura (with Bellamy's & now Longtable Group) has had significant success with.
It's also very interesting that there were 2 new substantial shareholders appear in the last week with a tad over 7m shares each. Add this to the 34% (c. 49m shares) owned by directors & management and the 'free float' is quite small with 44% of the company tied up with these 3 groups.
Here is some nice media about the company released yesterday too:
https://www.businessnews.com.au/article/Alterra-soars-on-carbon-detail
It already has revenues from the existing carbon forestry management projects & it continues to generate c. $650k per quarter from these projects with contracted revenues of $23.5m locked in until 2027.
The smoking gun for mine is the large milk project they've conducted the scoping study for & couple this with the potential McBain relationship & 2 new substantial holders in the last week, I feel this is a smoking gun for a tilt at something bigger & with an EV of 5m at current prices, I'm in for a punt.
All clearly IMO.
