Ann: Dairy Protein Extraction Plant, page-7

Fellow investors,
Latest announcement is planned spin. Talk things up before a shocker of a half year announcement. Any guessing the size? My stab is $5m ++ Trading loss.
Lactoferrin production must be tied to milk volume processed and in particular Cheese production.
Is BFC processing all the milk it has contracted - 120m litres? - or are the acting as a Broker. Roger how much are you selling to sustain Farmer payments?? Seasonal conditions suggest Milk supply is tight or declining. Is BFC different to other Processors?
Is BFC selling Cheese at positive margins (ie Milk price + Overhead recovery + Margin). I DOUBT IT!!!!

Share price movement looks now to be tied to Net profits and FREE Cash - Yes or No??
No profits, no free cash, no dividends, no share price moves ...................................................................BANG
If Profits then Dividend,

• pays 2c share - needs free approx $8m or Borrowings?
• pays 3c share - needs free approx $12m or Borrowings?

Can Hicks change things in 4 weeks. NO. Will he find things he doesn't like - possibly. What will he or can he do? Board has control?