If harvest is good yes could see $5 on expectations but - September reporting - Cash goes out Sep-Jan to manage harvest (hardly any in) - Cash comes in for storage from Jan - Oct unless you've got a big stock position going in (which they don't) - Pay the collar (not sure when) - If it's a big harvest in 2021 then repeat but start with some stock paying storage hence cash coming in earlier, stronger and longer. - Basically apart from expectations, it's a $4 stock in real cash terms unless 2021's a ripper also. If 2021 and 2022 are rippers it's a $6 stock. If 2021's a dud then it's possibly overpriced already. Hence you're taking a punt on 2021. - International trading's net dud over quite a few years. Feeling lucky? - CBH has been discussion since 1980's can't see any evidence that's more likely WA growers get to decide if they want GNC risk. Someone else more likely - highly possible (they would be taking a punt on 2021/22) - Was good buying at $3 that's for sure!.
GNC Price at posting:
$4.17 Sentiment: Buy Disclosure: Held
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