Ann: Webster 2016-17 Preliminary Harvest Information, page-9

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new dawn fades

5 Posts.

22/05/17

21:16

Post #: 24844749
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Originally posted by craft ↑

Just considering a little further at what level a capital raising may occur if one eventuates.

The half year NTA figure including water rights at cost was $1.11.

Management has estimated water rights value at 300M and they are on the books at 230M.

Freehold land at 31/6/2016was 123M. A 10% increase would be approx. 10M

There is currently 360M shares on Issue.

10M land revaluation + 70Million water rights revaluation across 360M SOI adds 22cents to the NTA figure. Add a bit more for current half year operational cashflows and you are sitting somewhere around $1.35-$1.40 NTA.

The Motspur transaction with Peter Joy a true inside associate was done with a 50% equity component @ $1.45. The cash component from this transaction would be a convenient way to fund his rights if a raising was to occur.

Potential raising price could be a bit higher than my previous $1.15 guess. Current price might be about the vicinity – May have been what drove the release of harvest information. Telling us what’s going on with harvest hasn’t been in their DNA previously.

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Art and craft you seem to be on the money. Action today makes me think capital raising well and truely on the cards. Shares at $1.45 say would be a nice place to launch a 1 for 5 at $1.25 a share. 'a 14% discount to yesterday's closing price kind of thing' (funny that 3 days ago the share price was at $1.25 LOL)

WBA Price at posting: $1.39 Sentiment: Hold Disclosure: Held
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0 Great analysis

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