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The cashew project has been shambolic so far and the communication of it very poor.
It is exciting to do something new and branch out, but there have to be realistic milestones. Since last year milestones are being missed and every month there is a different reason for it.
I remember the Twitter footage last year of mountains of bags of raw cashew nuts being moved about. What happened to that? Do they expire when unprocessed? Have they been processed? Have they been sold?
It’s very confusing to receive detailed numbers in regards to the Palmoil production and extraction rate (to the .1 percentage point) and absolutely nothing when it comes to the cashew numbers.
Indonesia palm oil export ban fuels global food inflation threat
Crop protectionism increases around the world as prices soar
Article in the Financial Times:
https://www.ft.com/content/38b6df62-e863-4ba1-8274-138ccb2b061b
I’ve looked at the interim results from October 2021. It says they had 1.68 million cash at 30 June 2021 (in June 2020 they had £ 7.80 million cash!!),
Group revenue is currently: 0.85 million
The loss for 2021 was £3.40 million.
So if you take the cash they had in June last year and than add the anticipated revenue for this year and then subtract the anticipated cost (loss) - you’ll end up with something very negative when June 2022 comes around … unless they find a pot of gold at the end of the rainbow by then.
This is a complete gamble now if they can get anything approved before they run out of money.
It’s surprising that there are no news for years, it shouldn’t be so difficult to get something done. One wonders what they do all day?!
At least they cut costs and stopped the gravy train from the previous management.
I have been a Dekel investor for many years and have not had a return on my investment.
This is not a global tech company and all this financial wizardry is completely misplaced. - This is supposed to be a straightforward agricultural play and should pay dividends to their investors or stop issuing shares so the ones that are in circulation will appreciate and give the investors a return for their investment.
I disagree with the accountants view that it doesn’t matter if staff is paid with cash or shares. The fact is that if you can’t pay your staff with cash you shouldn’t employ them. Everyone can buy shares with their salary on the open market. Staff gets paid salary out of profit. Investors get paid for their risk and enabling staff to get their salary.
I encourage everyone to vote at annual meetings to stop the board from issuing any new shares and pay dividends to investors who make all this possible.
Unfortunately it’s the unsatisfactory reality with small companies.
While the amount of shares have increased by about 500% the individual share price has gone down.
It’s comforting that the company is doing well, creating jobs, supporting small farmers and paying generous compensation to the board of directors, but an investor wants to see a return on their investment!!
The company doesn’t pay a dividend either so the only thing we can do is vote for dividend payments and refuse to have any more new shares issued.
Although the update on the cashews was due “in the second half” of this year and has been postponed numerous times - and probably now forgotten; I expect them to include that in the next monthly update around the 10th January.