Agriterra (LON:AGTA) (3.5p and 1.8% of JIC) has given an update on its agricultural operations. It has acquired a 2,500 hectare farm with a producing banana plantation, a macadamia orchard and additional land capacity for cattle. The 48 billion litre Mavonde dam is now full with capacity to irrigate the ranch for four years and support head to hectare growth. The current stud breeding herd stands at 900 head with a target to expand to 2,500 head by end 2013. Initial trading at Chimoio beef retail unit has been strong with sales of $1,000 to $1,500 per day and increasing. The second beef retail unit is expected to commence trading in Tete by the end of this month. Finally, the maize milling operations at Compagri is operating near full capacity and generating improved revenues.
Whilst all this is encouraging, I think the market is really waiting for confirmation that it has received the $50m payment for the sale of its legacy oil exploration acreage at South Omo and the £11.3m compensation payment from the Republic of South Sudan government. Holding on in anticipation!
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Johnrosier
I manage my subscription website www.JohnsInvestmentChronicle.com in which I show my portfolio and all transactions. I blog within an hour of trading, with an explanation, and send an alert email to all my subscribers. I do not pretend to have all the answers but I hope my portfolio, and the trades, provides food for thought as well as helping those who are new to managing their own portfolios.I think what I do is unique. There are plenty of tipsters out there who will remind you of the good ones and quietly forget the duffers; I do not have that luxury as the portfolio is there for all to see. I have to confront my mistakes and deal with them. A tipster also does not show how a tip fits into the context of an overall portfolio. My portfolio of up to 30 holdings has different holding sizes based on my conviction behind the stock and its risk. I set up www.JohnsInvestmentChronicle.com in January 2012. Prior to that :In September 1984, I left university with a degree in Zoology and started work in the City of London. Over the next twenty five years most of my time was spent managing UK equity portfolios with Fleming Investment Management and Henderson Global Investors, for company and local authority pension schemes as well as the reserve fund for a well known charity. During 2009 I left full time employment and decided to take time out to consider the next stage of my career. In the meantime I have been putting my years of experience to good use investing the family savings. I have thoroughly enjoyed the freedom of investing from home and despite some tricky periods during 2011 it has been a rewarding experience. more »
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