"You are right with fcf points, they spend around 3 mil for...

"You are right with fcf points, they spend around 3 mil for equipment, but Eg in 2014 they spent only 600k, not sure what is going on there. I think this year they will spend a bit on automation projects and farm upgrades - probably another 2-3 mil? Ok even with 9 mil fcf that will get us to 12 mil in a bank by end of june if no acquisition."

@Didak

To talk about what was spent on capex in any one year is almost pointless. Business operation's have got lumpy element's to them which mean's we cannot rely too much on the number's of a singular year. This is probably true of everything from sales costs, to indirect costs, to revenue number's. But it is particularly true of capital expenditure. Sure, capex can be constrained for 1 year, or 2, or even more year's. In FY 2014 capex on P&E amounted under $700k, but in FY2013 it amounted to over $4m (though you once again ignore the finance lease prinicpal repayment's, which amounted to over $1.7m in each of those year's).

The less you spend today, the more likely you are to have to spend more tomorrow. This is the nature of capex.