my reply mjs MJSI'm a city dweller but a country lad at heart...

my reply mjs MJS

I'm a city dweller but a country lad at heart and youth. My circle of friends work on and own large properties in Australia. From these circles I mix in there is nothing more irrelevant than comparing prices of land in different countries. Several of my friends have recently bought shares in ANE between $3.10-$3.20 when I pointed out the simplistic nature of the balance sheet and the company's actual worth.

However, to be fair, I was unaware of the NZ and USA issues that II have recently mentioned when I 1st told them about ANE. I have discussed this concern with them and this is the interesting part. Of everything we spoke about (fuel, debt, fire, growth, depreciation etc) comparisons to land prices overseas worried them the least. Whether it's cattle, sheep or veges they don't talk about what the price of land is in NZ or USA when talking to the neighbours. It's with this assurance that I find it difficult to accept a company like Gunns or Great Southern Plantations (who might consider Auspine a target) would not be hysterically laughed at by shareholders if they offered anything less than $5 a share.

One thing Intelligent Investor and I agree on is this...Auspine is not short of 'hard' assets. It's with this thought that I sleep easy and await what I believe to be a rather fruitful future capital gain of at least 100% over the next 3-5 years barring any major catastrophe like a bushfire. Everything has risks but the reward here outweighs the negatives by a country mile.