MarcsC, the reason for current ebitda as my metric is because I...

MarcsC,

the reason for current ebitda as my metric is because I believe it to be the new norm or average.

why, because costs are down, grain contracts can be locked in for several years etc. revenue will grow albeit at a slow price. sure agi buz is cyclical by nature, but eggs are a very steady commodity.

your whole argument based on grain imo is weak - do you not think the company is aware of the cyclical nature of grain? I think this is what is short sighted. the company is looking to grow soon if not now.

further, I don't agree with using a NTA valuation to value this company - simply because of the economic moat sounding the business and agri is very hard to get into, let alone up and running on a profitable scale with significant market share.

then again the market is a funny place, and if people want to sell on no new information so be it. you may well find this gets sold down to your valuation, the point i am trying to make is this is very undervalued on most metrics.

as someone famous once said "be fearful when others are greedy, and greedy when others are fearful"

Didak - sorry for the confusion - the 6m was referring to value not shares - my aplogies