Fellow shareholders.Been watching since last post Feb 24....

Fellow shareholders.
Been watching since last post Feb 24. Nothing has changed - more fantasy and dreams.

BFC Board faces a possible 2nd Strike motion at coming AGM.
Little supports Board performance over past 12 months save waffle about Lactoferrin sales (no mention of margin/prices??) and the KCG deal.
Appears KCG deal is needed to pacify NAB. What is KCG getting for paying (on todays BFC ASX price) a 2c premium per share if KCG takes up the proposed allocation?? Mozzarella at $6kg? Lactoferrins at $500kg?
Current sharemarket sales suggests a deal with KCG needs to be restruck or may not fly.

The BFC correspondence released shows,

• ASX Release 29 July 2022 - page 3 para 4. FY 21/22 will be another loss - sixth in a row. Same Board, new Management???
• Press releases - no mention of product margins. General statement (Page 3 para 4 - again!!!) Gross Margins averaged 15% - define Gross Margin??
• Lactoferrins - understand product is now a globally traded commodity. Prices down to A$700kg.
• With FIS Jervois milk price today at approx A$0.78 litre, how can BFC make net margin out of selling Mozzarella at/near $0.80kg. Milk cost + Process cost/s per kg would look to be higher. No margin! Mozzarella production is approx 15,000,000kgs pa. Net loss looks BIG.

Mozzarella production means BFC has both Cream and Whey to sell.
Looks like NET profit from Cheese production (BFC makes little Cheddar) is in Whey and Cream.

Back to Church. Will move to the front pew. Join me please