Member Info for jk400

The cashew facility is running 2 years late. That's it in a nutshell.

Evening fk1, it's on Wednesday this week.

More details here - https://www.investormeetcompany.com/dekel-agri-vision-plc/

Thanks all, will report back.

Just further to the above, for anyone unable to attend, then please submit questions here and I will add them to my list.

I'm just compiling a list of questions for the conference call, so referred back to previous lists.

I might as well just copy and paste them. Here is a selection from 2019:

Why does Dekeloil not release and adhere to an annual financial calendar for results dates, production updates, AGM, etc.? I note these are not compulsory for AIM companies, but to voluntarily do so would be a positive step in my opinion.

Could you please tell us more about the local competition in Cote d'Ivoire, and how they compare with Dekeloil?

In a recent RNS, you stated that once the cashew business comes on stream, "our quarterly production updates will cover not one, but two producing projects". With the ongoing complaints about lack of regular news flow, would it not be prudent to split these announcements for separate months, i.e. Palm Oil, Jan/Apr/Jul/Oct, with cashews a month later?

A constant bugbear for many private shareholders for a number of years has been the persistent issuing of shares in lieu, yet this continues to happen. Are you able to provide more details in to the decision to keep doing so?

Will there be a dividend this year or when do expect this to be reinstated?

What updates can you give us about the huge sell off yesterday (1st October). Long term shareholders are now sitting on losses exceeding 90%, what's going on?

Any updates please on the fertilizer programme?

Indeed dbentley, and we are in complete lockstep on this point.

The SP being at this level is further proof of market sentiment on this and other issues. Our market cap is lower now than before the mill at Ayenouan had been granted planning permission.

I for one will have a large list of questions for the upcoming conference call.

@HarChris, would 50%/60%/70%/80% dilution warrant discussion?

"We haven't had any dilution RNS's for a while, but you know that another is just around the corner."

This aged well.

I quite like Lincoln as the face of the company, but he seems to have more-or-less disappeared of late. No puff pieces, no conference calls, just the usual few lines of text at the bottom of the RNS's.

The BOD haven't listened to shareholder complaints on dilution for years, so are very unlikely to start now even though it would be most welcome. We haven't had any dilution RNS's for a while, but you know that another is just around the corner.

Remember a few years back when we were told in a puff piece that there'd be no more dilution for acquisitions?

I still get the impression that good news is pushed out as early as possible and bad news is buried. There's the ongoing blatant lie about the 60k vs 70k tonnes capacity of the mill. The lack of a simple financial calendar would be one source of confidence for shareholders.

The company is on a much better footing (touch wood) than 5-10 years back, but some of this stuff leaves a bad taste in the mouth and if they just took a step back and took off the blinkers, then the SP would begin to catch up with reality.

Thanks rugs, it's a shame these "holders" don't wish to constructively engage, but instead prefer to pump and dump.

Danny, I will give the board some credit on this point as we have not seen much dilution of late, which is very much a positive. Let's hope it continues.

When you think about it, there comes a point where they are cutting off their nose to spite their face with all this dilution. Would they rather have 300 million shares at 3p or 150 million at 20p+?

Sure, they think/hope their 300 million will be worth 20p+ one day - but remember, we're all running out of time!

We never see the illiquidity in the market nowadays that really got the SP moving northwards at pace in the early days. That can only be due to too much stock being available out there.

Hello to our 5 new highly enthusiastic visitors, who appear to already be following the troublingtimes and fundraiser222 playbook. Either that, or stacegibbs has been on the fizzy stuff over the weekend.

Puff piece here with WH Ireland's Nick Spoliar:

https://www.directors talk interviews.com/dekel-agri-vision-potential-for-the-shares-to-re-rate-say-wh-ireland/4121127038

Evening Fk1, yes I did note that with the FFB's. The impression that I got was that they were simply inundated with 11,500+ tonnes of fruit and so it was possibly a case of extract what they could out of it in a timely manner and move on?

Just as well we only have an artificially stymied/mothballed 60k tonnes capacity nowadays, as lord only knows how they'd cope if it was still 70k.

WH Ireland retain 9.5 target price.

H1-23 operational update: palm oil production continues strong with high prices

6-month palm oil volumes flagged in this morning’s DKL operational update are substantially ahead YoY overall with Fresh Fruit Bunches (FFB) up 52% for the period to end June and Crude Palm Oil (CPO) posting a 49% increase. The numbers thus reflect a strong and progressive recovery in the current year while the group also succeeded in bringing the new cashew operation into operation. DKL is an increasingly diversified agricultural group focused on West Africa (Côte d’Ivoire), with activities which include its fully operational, sustainably sourced palm oil business coupled with a new and growing cashew processing operation. From a results point of view, so far this has been a bumper year for palm oil with the high season starting very strongly in Q2 and continuing in the same vein; and both volumes and prices high. However, we note in addition that cashews have been successfully transitioned to a continuous process, with resulting efficiencies to be gleaned, promising an increasingly attractively balanced business overall in the future, together with added positives for H223E. Retaining FY forecasts unchanged on the back of this morning’s encouraging update, we also retain our 9.5p fair value assessment.

Danny, I note you also said "Plenty of positives there", my comments were not aimed at you.

Re the 9p target price, Nick Spoliar from WHIreland gave an interview to the site that will not be named:

https://www.directors***talk***interviews.com/dekel-agri-vision-significant-upside-on-the-way-nick-spoliar-whireland/4121123795

"Plenty of positives there"

"Finally -huge step"

Not sure how you came to that conclusion.

FFB up significantly? Yes, from a low baseline (terrible harvest).

CPO production up? Yes, see above, but still below 50% of the supposed 60k tonnes (artificially throttled back on paper) mill capacity. In reality, the actual 70k tonnes capacity means we're barely past 1/3 of what that mill is capable of.

Cashews? Every day that facility is not up-and-running, is circa €6300 down the drain (€2.3 million annual cost based on figures from the second-to-last RNS).

So yes, plenty of positives there Stacegibbs.

rugs, yes and the recent uptick in global pricing should feed through just as that stock is being sold.

dbentley, I live too far away unfortunately, but hopefully you and the three wise men are able to get some answers to long running questions. Always good to read on the scene reporting from those present, as there are no minutes or such like available - other than a brief overview of the resolutions passed which are a foregone conclusion.

I can't see stacegibbs/fundraiser/troublingtimes/whatevertheyarecallingthemselvestoday hanging around after that RNS!

Taking a step back, had we not seen the record CPO prices, then this would have been a total disaster. It was only due to that which managed to save the day.

The losses at the cashew facility should now hopefully be behind us with this the last of the bad news, but as others have noted, it's more jam tomorrow.

Another example this week of the need for a Financial Calendar.

A simple, free, effective way of the company building investor confidence so that we know ahead of time when news will be released - instead of having to rely on guesswork / comparing to previous years.

The SP then drops on no news being assumed as bad news.

Suggested to them before many times, still nothing.

Final Results:

2020 - 26 June

2021 - 24 June

2022 - 23 June

2023 - ?

"So they take shares instead of a salary? Sounds like a purchase to me."

The shares are never purchased though, they are created out of thin air at our (retail holders) expense.

"They could have taken the money instead."

Yes, they could - so, ask yourself this, why do they literally never take the money instead?

Https://www.youtube.com/watch?v=Z1LLraqd2lM

5:18 onwards.

I agree with everything dbentley has noted on the subject of dilution and will reply in due course.

My two penneth:

1. Cantor Fitzgerald used to have a price target of 26p/28p, I think it was, so some of these targets appear to be lick finger and stick it in the air.

9.5p seems reasonable from where we are right now. The reason it's not going up is possibly due to DKL's recent record of under delivery. A case of "we'll believe it when we see it" and then they will raise the target.

In the past, DKL were under promising and over delivering which is where we need to get back to. A lot of trust was lost from investors and it takes a very long time for that trust to be restored, if ever, once fingers have been burned.

2. You have to remember the huge volume of shares that have been issued in this stock recently. I, along with fellow holders here, have repeatedly been bringing this to attention of the board either on conference calls, AGM's, etc. but it keeps falling on deaf ears. Quite simply, there are too many shares in issue.

The days where a few buys would instantly lead to market illiquidity and huge daily gains are long gone. There is far too much stock available.

I would propose before any dividend that a share buyback is considered, to get the issued levels back under control. Especially at these price levels, with the option to reissue later if necessary.

There will also be some profit taking at the moment from those who got in at under 2p.

3. Nothing is logical about this stock.

The market will catch up once it's ready, but I suspect any decent profits here will happen over the medium to long term.

That's another reason why nothing much happens, investors get bored and sell off at any price increasing the downward pressure on the SP.

The market has woken up to actions speaking louder than words. Even the much-vaunted but now lesser-spotted "puff pieces" can only move the dial so much.

We need sustained good news over many many months, not just a good month here and a good month there.