The AACo-s half year 2009 report, released yesterday, makes for interesting reading. It includes, ‘a provision for potential liability related to a sublease taken out by Great Southern Plantations.’ But no further details – exactly where, when, what and how much – have been publicised. An item listed under ‘Contingent Assets’ is also interesting: ‘On […]
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AACo half year results 2009, released 11 August 2009
August 12th, 2009El Questro & other Voyages Resorts sold by GPT
August 6th, 2009El Questro (East Kimberley region, WA) has been sold by General Property Trust (GPT) along with other Voyages Resorts. Buyer is Delaware North, a food & hospitality business based in Buffalo (USA). Apparently Delaware North has more than 50,000 employees, worldwide, and more than $2 billion sales annually.
Wrotham Park and Moola Bulla taken off the market until 2010
July 30th, 2009According to the Melbourne Age Newspaper, receivers McGrathNicol have taken Wrotham Park and Moola Bulla off the market while they are mustered, and they will be offered for sale again early next year, after ‘the next big wet, due in November’. This article is a classic example of a journalist who has absolutely no understanding […]
Andrew Forrest buys back Minderoo, the cattle station he grew up on
July 30th, 2009Self-made mining magnate and entrepreneur Andrew Forrest grew up on Minderoo Station near Onslow in the Pilbara. Minderoo was in the Forrest family for 120 years but his father Don eventually sold it in disillusionment in 1998, after years of drought and mounting debt. Andrew has just bought back the 226,585 ha station with 10,000 […]
Tipperary Station, NT, may be purchased by Brockstar
June 29th, 2009Tipperary Station is currently being assessed by an American company, Brockstar. Brockstar specialises in ‘private portfolio management of capital investments’, with their primary interest apparently being in urban development projects in America. So if Brockstar buys the Tipperary Group of Stations from QC Alan Myers, it’s a safe bet that they’ll only own it for […]
AACo, IFFCo and Felda
June 21st, 2009So much for wishing for a peaceful future after the recent AACo board upheaval. Does the drama ever end? And should Australians be concerned? Australia is the largest exporter of red meat in the world and the largest exporter of beef, in value terms. (Second, in volume terms, to Brazil.) Increasing world food shortages are […]
Great Southern Sale of Wrotham Park and Chudleigh Park Stations
June 19th, 2009Shortly after 11am, bidding on Chudleigh Park immediately commenced at $18 million but the initial rapid fire bids of $2m stalled for a lengthy period at $24m. After private discussions with highest bidder Peter Camm, Chudleigh Park was sold to Camm Cattle Company for $28 million just after 12.30pm. (Camm Cattle Company sold NT stations […]
Moola Bulla station auction results
June 18th, 2009Halls Creek cattle station Moola Bulla was passed in at auction on 16th June, for $25 million. The auction had been scheduled to start at 11am but commencement was delayed until 4pm. Apparently Great Southern receivers McGrath Nichol were hoping the 3 stations – Moola Bulla, Chudleigh Park and Wrotham Park – would fetch at […]
Australian Agricultural Company Annual General Meeting Results
June 13th, 2009The AACo AGM was held in Brisbane on Friday 12th June. Shareholders voted in 4 new Directors and re-elected the most recent appointee, Stephen Lonie, who is now Chairman of the AACo board. Former directors now reinstated are Nick Burton-Taylor and Chris Roberts, along with IFFCO’s representative Arunis Paliulis and cattleman Peter Hughes (who was […]
RM Williams forms a partnership with Primary Holdings International, called RMWAH
June 8th, 2009Ken Cowley-owned R.M. Williams has formed a partnership with Primary Holdings International, called RM Williams Agricultural Holdings (RMWAH). The start-up stations for RMWAH are 3 that were owned by Primary Holdings International, La Belle and adjoining Welltree, south of Darwin; plus Mirage Plains between the Warrego River and Cuttaburra Creek (halfway between Cunnamulla and the […]