Member Info for DannyQSee

Don’t be alarmed. A totally capable - totally independent broker has done a thorough ‘Jeremy Paxman style’ investigation on it and has come to the conclusion that the shares are worth 9.5p right now… actually for the last couple of years.

This time next year Rodney …

I have actually sold some around 6p (this price sounds like dreamland now!!) when this was first announced.

It was supposed to be a positive, but then turned negative as the potential new partner wanted a new course of action and a huge time delay pressed this down to 0.5p.

Now they’ve left and rather than going back up to 6p it’s dropped towards 0.3p … only time will tell what’s going to happen, but the “fair price” of 40p suggested by the board looks a million miles away now.

In 10 years this hasn’t made any money and given the rate of inflation and other missed opportunities investors need this to double a few times before we even break even.

If the company were really worth 9.5 or 8p per share right now they would be buying shares left right and centre and do the next acquisition or share hand outs for underperforming staff in shares held in treasury and not continue to print more.

We’re at 1.5p now so all these comments and recommendations at 10p or 9.5p or 3.5p were wrong, incompetent and misleading new investors.

I am very curious how they are going to make this right. If it were a football team only a new coach would give new confidence. They should all resign and hand back their share awards for underperforming.

No comment

On paper everything sound simple.

If you look through the old decks the plan was to only focus on palm oil, have a second mill, second site and double production and get a sustainability certification.

Cashews weren’t on the deck. Then we heard about a third commodity and energy production. I’m addition the whole thing is also heavily reliant on debt and they haven’t turned a profit yet either (that’s the company and shareholders)… staff are being paid every month as I understand it.

This valuation is complete fantasy.

Any share price is a valuation of the actual business.

If you look at the annual accounts is says the current assets are valued at 54 million, but there is also quite a bit of debt of 39 million. So if you were to sell it all and pay off everything you still have 15 million left. - That’s the valuation. That’s a share price of about 3p (more or less).

No there are other factors that can influence the valuation. Low interest payments on that debt or brilliant management or any unique and amazing business idea or patent that can’t be replicated easily.

None of this applies here, that’s why the share price is 2p.

Unless they are rearing chickens that can lay golden eggs this won’t change in the foreseeable future.

Please always do your research and don’t take my word for it.

I bought in years ago as I liked the story. A new business, creating something, supporting local farmers, growth and sustainability.

This has all changed and I don’t like it all all anymore and am just holding a small position and will exit if it breaks even.

The broken promises, disorganisation, setting up other ventures that are then bought out, paying staff in shares as if it’s a technology company, endless issuing of shares and incompetence of completing things for years have left a rather sour taste in my mouth.

We thing the share price should improve at these levels, but we thought that at 6p, 4p and 3p already.

The best you can hope for now (if the business is actually any good) is that a bigger company buys this out, but they never pay an astronomical premium … maybe double of what it is, but that’s it.

Another 10% down today.

While the potential opportunity here has been highlighted and is well documented. The buy recommended from brokers and other sources at over 3p was rushed and not serious.

1.9p is in my opinion a much better entry (while still high risk) and I would like to see the directors come out now in support and buy shares in the open market if they are serious in supporting a broker who thinks this is worth 9.5p right now. Otherwise fire the broker or resign!!

That target has been in place for almost 2 years.

Today’s price 2.1p (another 4% down).

It’s misguided, meaningless and totally unprofessional.

Anyone who’s invested based on that recommendation when it first came out is way, way under water.

There is also no guarantee that the company isn’t going to issue more shares which will dilute the value more or that they start in another project (also announced years ago) that will waste more time and money.

Completely meaningless!!

Nothing of what anyone is writing here will have any influence on the share price!

What is does do is influence retail investors. An investor is someone who effectively lends a company money and expects a return.

Now look back and tell me when an investor made a return on this in the last 10 years? - if you were lucky and traded at certain periods maybe yes, otherwise a big big no.

Just a few month ago at over 3p the consensus was that it can only go up (together with a deluded 9.5p valuation). Today the sp is 2.3p… so anyone who has urged caution should be applauded. This has potentially saved any retail investor a lot of stress, money and aggravation. - Fact!

Is it now low enough to risk an investment? If you look how many shares the directors are buying the answer is a big no. They are happy to issue new shares for free, but not risk their own money to buy 2.3p shares that are apparently worth 9.5p right now … this tells you all you need to know.

The 9.5p valuation was pants years ago and won’t be achieved anytime soon which makes it completely meaningless.

Palm oil capacity won’t be at 100% for years (never mind the second mill that was promised years ago).

Cashew production nowhere near break even (let alone making a profit).

No dividend or buy back for 2-3 years.

Do your own research, but I know where I’m going to look for a return for my money (not here!!)

I’ll add this to the bingo:

- volumes continue to gradually improve

- issue of equity

- AC12

- Hastings, like the battle

Unfortunately retail investors are helpless when it comes to companies that are controlled by large shareholders.

By their own definition the board values the shares at over 40p and there is a $25 million cash voucher sitting in the cupboard (to be redeemed on FID).

Any sane person would take out a loan to cover this short period of a (possible) funding shortfall rather than gift away shares that are worth 40p (their words not mine)… but don’t worry it’s not their money is it?!

Just ask them when they are going to resign for incompetence.

This is not a technology company. - Let alone that there are a dozen projects outstanding that haven’t been completed in the last 5 years; - if the numbers were that great, why can’t simple things be paid in cash rather than issuing new shares that no-one wants to pay a fair price for?

Why haven’t the directors bought a couple of million shares each rather than ripping off retail shareholders?

When are we going to see the 9p valuation, suggested by the “independent” broker (we are paying)?? - For years by the way!

This thing has been a complete gamble for the last 10 years. The previous board never developed anything or created a revenue stream so it was a sitting duck.

The new team took over to release the cash that was sitting in the account and that’s what they’ve done.

It’s shocking to hear that the government is sitting on their hands and still haven’t approved the sale, but judging by the speed this whole saga is taking it’s not surprising.

The fundraising isn’t worrying as such as the current board sees the true value above 40p. The smart thing would be to take a loan and not dilute the share price.

There is potential here with this company, the main fault is the management.

While staff and directors get paid on a monthly basis. Investors who made it all happen have seen no reward in the last 5 years.

Your slice of the cake isn’t worth anything if the board keeps issuing more and more shares and no dividends are being paid.

The external signs are all positive (for cashews and palm oil), but it doesn’t matter how much revenue or profit is being generated if they are being divided by an ever growing cake.

“production will gradually increase” … from what to what??

What a great update let’s see how close it’s finally moved to the 9.5p valuation from the experts … ah 0.7% rise to 3.25p - genius!!

Aww that brings back memories… gone are the days of those fancy PowerPoint presentations… never mind.

Plenty of positives there… let’s see how closed it moved towards the 9p… ah 2.95 got it!

Current market capitalisation is 3.5m if memory serves me right £50m is still due on FID, so that would mean the share price should move closer to 15p.

Management has previously mentioned that the see the value over 50p but that was years ago.

It’s difficult to price this now with years of dilution, hidden cost and staff bored from years of thumb twiddling.

It’s beyond my understanding what they do all day except getting paid.