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17/03/18
23:48
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Originally posted by R08
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We should never discount alternate opinions. Many offer such balanced content.
Whilst I have also attempted to dicepher an understanding on this announcement through my thorough research and via the company - my concerns still lie within the ability to satisfy the debt funding instalments. I never take director speak for granted, nor should anyone.
In essence - the IM must have shown an ability to pay. This in itself must encompass a $12m plus NET per annum revenue via the 5 farms (I can only assume this is where the rev is generated). If that’s the case....then strike me down - we are home and hosed. However the sceptic in me would much rather see an audited break down of the revenues generated by these 5 propositions. I can’t buy into your statement that $4m-$5m will be raised through the broker channels to satisfy C1+2. Retail will NOT support it, how will Soph’s embrace an investment with $150m debt fund overhang should the full amount be drawn ?
I still scratch my head....$120k in bank, no assets, yet we get international bonds at - wait for it - $150m !!! Beggars belief AND I want to believe...
I am sensing connections in the Fiji islands may have facilitated such a transaction - that’s my hunch. Explains the Pacific Daries Fiji (unregistered in Aus I may add) guaranteeing the security alongside the other two. Powerful...,but, to what end !
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Aggregated data from 2015 provides the targeted five farms as stated in various announcements generate about $13.21m revenue for 24.5m litres of milk collected by a mix of dairy processors, no farm is using the same milk buyer. The figures just don't add up to support a bond issue of this size so something else is in the mix. Pacific Dairies Fiji Limited doesn't exist in Australia nor New Zealand, possibly in Fiji as the vehicle for the proposed Fiji operation.
And dont forget there is legacy hanging over still...
https://www.weeklytimesnow.com.au/a...d/news-story/fbccd9eb36a34f0468ce76f25785d741
Nothing adds up or makes sense for a thinking person with financial literacy. For others it might sound exciting.