Thanks for your responses, I found the previous links, be interesting to see if as you suggested Stephen that there will be further selling in the new year by some investment fund you mentioned?
Your concerns gttain about margin compression might be warranted due to increased demand from red meat in all of Asia and good rain pushing cattle prices higher. Albeit the demand increasing, I read somewhere that the company did mention clients however are not keen to accommodate the higher prices, so I assume the company is absorbing the higher cost as opposed to it's clientele.
Alan thanks for your response, do you know if someone from HC has made contact to know if Wellard have no implication in the Vietnam ordeal?
They definitely need some a positive announcement...weak close to this EFY.
The CEO needs to realise he's no longer running his own private company and either step aside or step up his professionalism through the aid of someone more experienced. There was mention that money raised in the float was to be directed toward building modern feedlots in Darwin.
Why the guy doesn't cough up the $15 mill is confusing as an article written following the float states...
"It crystallises a big pay day for Wellard chief executive Mauro Balzarini, who received $144.5 million in cash on top of his shares, which were worth about $203 million based on Thursday's closing price.
Mr Balzarini, who controls about 36 per cent of the company, said the float would help fund the company's expansion into Asia."
Very tempted.
See how next week pans out.
WLD Price at posting:
37.5¢ Sentiment: Hold Disclosure: Not Held
