I just bought some more. I cant help myself! I love this company! Of course i am no expert (i don't think any of us are true experts) but most stocks I look at seem fairly priced, or well overpriced in many cases! TFC just seems so damn cheap, plus it has a strong moat, plus it pays a dividend, plus is has a large cash balance, (30% of the market cap?) and the company seems to be doing everything it can to buy as many of the plantations as it can from the investors. They really do want as much of the sandalwood as they can possibly get their hands on. The more I research, the more I like it. I have also visited the Mount Romance facility in Albany since I happened to be passing by.
I live in Sydney, but recent travels in WA showed me how deeply people covet Sandalwood. I never mentioned my interest in Sandalwood to anybody, but a friend I met on that WA trip gave me, in great seriousness and ceremony, a jar full of sandalwood shavings and stick pieces, to be burned as incense in significant times. It is really a very important product for many people.
I also went out trekking with local aboriginal people in Shark Bay and they showed me a hidden stockpile of their precious Sandalwood.
(these anecdotes are nothing to do with my investment decisions, I am just sharing them because they happened to me recently!)
So yeah I bought more today.
Shorters be damned, the cashflow, the dividends and the steady stream of good news will make this stock rise.
Peace
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