Sorry Mate Roger, didn't realise you were banned, welcome back. Missed you here, your honest and reliable analysis. I have loaded on Scales for last two days.
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Sorry Mate Roger, didn't realise you were banned, welcome back. Missed you here, your honest and reliable analysis. I have loaded on Scales for last two days.
Winner - Handover - Love it...I have an interesting story to tell about how much pressure they put on people to reinvest towards the end...remind me to tell you sometime over a beer.
Jantar - I am not suggesting all of their loans to dairy farmers are in trouble, (note my cryptic reference to this being a $64 million dollar question). I was going to put $64,000 question but that hardly seemed appropriate in the circumstances. Within the normal statistical range, really ? When was the last time GDT auction prices were under $2,000 a tonne ? Some economists are whispering about a $3 pay-out level...how do you think dairy farmers with an average of 61% debt will cope with that nightmare ?
Thanks gv1. SCL now my biggest position. Superb, conservatively managed company with excellent growth prospects.
I may have missed this somewhere in the conversation, but dairy farmers now have an average 61% debt level?
HNZ only say their loans to the specific security value is 61% don't they?
http://www.nzherald.co.nz/business/n...ectid=11489246
I make no apology for posting this article in here as its clear that the level of possible future default on these circa $230m, (and increasing), loans will be a major determining factor in HNZ's future profitability.