Do you have a link, or is this what you read from a poster on HC who also mentioned GS today?
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Back within striking distance of hitting $10. Could well be that those institutional investors who went for company presentation on Friday are very happy with what they heard and saw.
And you could be right and this part of presentation of interest for me .........
" The company noted that it remained confident that SAMR registrations of the Akara and Pure Canterbury brands would be approved in CY19; it noted that both were completely fine from a technical perspective, and now were waiting for a physical audit."
Has Mr. Ye Qing agreed whatever they are doing with Pokeno facility?
Couple of decent special crossings pre-market...
4 2 9:01:11 am 993 122,442 $1,215,849 L3 5 1 9:01:09 am 993 57,761 $573,566 L3
From Investor Presentation
POKENO UPDATE
• In February 2018 Synlait announced the conditional purchase of 28 hectares of land in Pokeno to
establish its second nutritional powder manufacturing site.
• In November 2018 the High Court removed covenants over the land which would hinder Synlait’s
development of the land. Synlait then took ownership of the land.
• In May 2019 the Court of Appeal overturned the High Court decision to remove historic covenants.
• In June 2019 Synlait filed for leave to appeal to the Supreme Court as part of the ongoing legal
process to keep our options open.
• It is important to recognise:
- These covenants are privately held to protect quarrying interests on the land adjacent to our site.
- Our development is completely consistent with the industrial zoning for the site and the surrounding area,
which includes other industrial developments and infant nutrition facilities.
• We are in continued conversations with all parties and we remain confident of a positive outcome.
• Plans for the Pokeno site haven’t changed and we continue to work towards the existing project
timetable including the build, commissioning and production.
Water commissioning is well underway for the new Infant Formula Dryer in Pokeno, will be ready for product commissioning and commercial production in the coming months.
I'm curious on the influence the cost on carbon emissions will have on the dairy sector with the majority of the emissions coming from the farm as opposed to the manufacturing facility. At $25 per tonne of carbon this cost is significant. Synlaits weighing on value added products will make them much less exposed than heavily commodity dairy manufacturing facilities like Fonterra, however.
I can't see the commissioning and commercial production at the Pokeno dryer being stopped.