Thanks for the post, I don't disagree with your sentiment on the...

Thanks for the post,

I don't disagree with your sentiment on the performance rights issuance, however, I suggest that you do some research at the prevailing SP at the time the performance rights were issued. At the end of the day, this highlights the issue generally with a SP based performance right vs a sales, ebitda or other measure, or a mixture of measures. I personally would prefer options instead of rights and make them pay back in their directors fees to the Coy, and fund their next year of fees, and its not such a free ride for them then on the issued stock.

No one was complaining about the performance rights when the SP was +$5.

And what we all forget, the directors mostly participated in the raise at $5 and are now possibly not getting their performance rights. Warren Randell chipped in $2.5m for 500k shares, now worth $1m, David D $750k, now worth $300k. GB $2.8m in the raise, Laura only 50kshares for $250k which was disappointing, i would like to see her top up here after the quarterly and back the recovery.... While I am disappointed with the SP (we all are) , at least we have directors that participated in the raise and have felt the value of their holdings diminish too and have a very much aligned interest in improving the SP as it is not just to earn some performance shares..

Re maturing whisky, refer to TSI (listed ASX distiller) they issue maturing volume, and distilling capacity at 43% ABV... IS it really that abnormal that LRK is at 42% if another listed Co is doing the same..

If you don't like the 42%, just reverse it back to 63%, 63/42 is 1.5 times.. So 2.1m litres / 1.5 is 1.4m litres at 63%... NSV per litre at 63% will also, roughly, equate to 1.5 times, so $267 * 1.5 = $400 per litre. it is just math.

I agree on the distillery cost blowing out. I have made this comment before re the $13m.. Nice to know we have a fat government grant that will help that (thanks ScoMo)... And before I get abused for LRK taking taxpayers money, this will paid back in excise and increased income and corporate profit tax in no time, and there were other distillers that received Grants too, wasn't just Lark.

Look at me, I think that is rant 3 for the week! a new record... Not reall a rant when just pulling facts though is it..

Cheers all, have a great weekend.