I am really glad that you had a wonderful trip Cocky and I...

I am really glad that you had a wonderful trip Cocky and
I really appreciate you sharing your observations with us

If you dont mind me asking, what was your reasons for making this trip and did the
trip help clarify your concerns about Duxton Farms, what I am getting at is were you
looking at buying back in and did this visit sway you one way or the other?

It now seems that we are probably going to see a capital raising in the not to distant
future, we were already getting close to our current bank lending limit and as you say
we will probably make another loss with all the water around, and to top this off we go and
buy another farm, which I am not against in principle, but not when you have to raise
capital at such a discount to NTA as we are basically paying and extra 40% for it when you
work the dilution in. When you are in a hole the number one rule is ...stop digging
The market is telling you something...please listen


The Newell is very bad for such an important road but there are many roads in regional
and even suburban areas that are well below acceptable standards, yes infastructure is
falling behind across the nation but demagraphics are now working against catching up

Wyangala dams upgrade and increase is a hugely important issue for Forbes and
the whole region in general, if it does go ahead then the current land values are cheap,
at least relative to other districts, but I am not sure this is going to be sorted anytime soon,
the PM was in Forbes today I believe to survey the flooding happening there and they did
mention Wyangala in the news report so who knows

The whole area is a massive flood plain, pretty well dead flat, with more control and predictability
of the water we could neally have it all... good soils, good climate and water and not too far from
both sydney and melbourne for fresh fruit and vegie markets

thanks again for your reports

cheers grant