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Africa focused agribusiness sells off planes and helicopters to step up its feed activities By Jane Byrne, 04-Aug-2016 Cattle ranching, grain and cocoa agribusiness group, Agriterra, has disposed of some of its aviation assets to fund a feed venture in Mozambique. http://www.feednavigator.com/Markets/Africa-focused-agribusiness-sells-off-planes-and-helicopters-to-step-up-its-feed-activities
helicopters are a very useful tool in extensive beef farming
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I believe the helicopters were used for transporting cash to buying points for maize. That makes sense considering the security aspect. Exactly how the cash is now transported I'm not sure. As for the King Air, There was no real necessity except for site visits to Tete, Nampula, and Pemba. I little over kill. The cash can be better utilized now.
If you are that worried about the aircraft and what they are used for contact the CAA in Moz and request the flight logs for the last 2 years and that will sort that out for you. If the asset is no longer a requirement for doing business in a specific location due to development of infrastructure such as paved roads and bridges, do you suggest? A) Polish and Shine while watching it depreciate as well as pay for routine maintenance, hanger fees, Insurance and and and. B) Sell, free up some cash to set up a production line for value addition on by product, complementing both businesses, Milling and feedlot. C) None of the above as I am too lazy to think, research or investigate.
Directors need aircraft 4 game fishing on the islands over weekends
I don't really know what they were doing with a small airforce in the first place and I thought that they were only moving the cows for safety! Hopefully agm will throw a bit of light on developments.
One day patience will be rewarded.
Net assets at last report $21m Cash: $5.3m mcap: around £2m Agriterra announces that it has today agreed the sale of its Beech King Air F-90 plane to a registered aircraft retailer in South Africa for consideration of US$290,000 (pre-transaction costs) which is expected to complete within the next few days. This sale follows the recent disposal of its Aerospatiale Alouette 3 Helicopter to the same purchaser for a consideration of US$80,000 (pre-transaction costs). A further sale of the Company's Robinson R44 Helicopter has also been agreed with the same purchaser for US$200,000 (pre-transaction costs); it is expected that the third sale will complete on or around 5 August 2016. All considerations receivable are payable in cash upon completion, and the assets have been sold at their market value, which exceeds their collective current book value of approximately US$258,000. The sale of these aviation assets is part of the Company's ongoing operational improvement programme in Mozambique. The proceeds of the sale of these assets will be applied, in part, towards the acquisition and operation of an animal feed pelletiser machine (at a "delivered" cost of approximately US$75,000). The pelletiser, which is due for shipment from South Africa to the Company's facilities in Chimoio, Mozambique this week, will provide the Company with access to an additional revenue stream, by converting the "bran" by-product from the Company's grain processing operations this into processed animal feed, which can be sold at a premium to farmers within the region. Further information on the operations of the pelletiser will follow in due course, following installation, commissioning and initial sales.
it will bark
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No quote given here ,,,
13 % jump with only 1 buy.
I agreed. Workaround the problem is always better.
a sensible decision given the circumstances.
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Hope its AfriAG 60 trucks more, just wishful thinking...LOL
Who bought all those shares? That's significant! Company website says nothing.
1 sell and it s up. What a star share hah
fall
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http://www.thezimbabwean.co/2016/05/mvurwi-from-farm-worker-settlement-to-booming-business-centre/
Nothing's coming. I'm invested here but this unfortunately was not a good one. I don't see any hope here for a long time. Stumbling business in a stumbling economy in, what is becoming a war torn country.
Nothing's coming. I'm invested here but this unfortunately was not a good one. I don't see any hope here for a long time. Stumbling business in a stumbling economy in, what is becoming a war torn country.