Feronvinum.8 Dec 2023 14:29
Im trying to do the maths ; if they have in effect forward sold £15m of maturing stock at 70% of final retail value. that equals about £70 per bottle now. = 214,000 bottles = 800 casks to be sold in 2 years. Out of 17,000 casks at Masterton, = just under 5% of current stock in casks. So in return for forward sales of only 5% of stock in 2 years, SMWS get £15M now. That values forward stock at > £300M minimum at only 70%. If they have plenty of stock for 2 years time ( they do), and they can lay down more casks to replace these pre-sold 800 ( they certainly can much cheaper than that), then it might just be brilliant. Am I wrong ?. anyway just bought a few more at 48p. DYOR. also have a hunch that Ferovinum must have conducted some sort of due diligence on SMWS and liked what they saw.