Yamba Novacq site for sale

RIC's Novacq production site in Yamba is for sale (AFR today p32).




RIC is an obvious candidate to buy and likely the vendor here is simply seeking to drum up a competing bid or two.  They will want a steep price due to RIC's existing and planned investment on the land.

We cannot know if RIC needs the entire property to meet projected demand for Novacq - RIC may not know either, though it says (RIC slides, 6 April):

"Ridley invested c.A$2m in calendar 2016 at Yamba to develop NovacqTM production, including pond preparation and fit-out, infrastructure and execution of a 10 year lease on enough pond capacity to fully service 100% of Australia’s current prawn demand and expected growth."

Another page in the exciting Novacq story.  

I do not see Novacq's potential recognised in the share price.  A few more moves - scientific studies, eager customers, production commitments - and this baby will boom.

Ash