Sino Agro Food Inc (fka SIAF)

[Emilez]

Billion dollars worth of land to SIAF?

In the conference call, at minute 49, SOlomon says that when they get up to 13 000 (?) MT of production they will be given an additional 3000 mu of land, according to verbal agreement with the government (?).
http://wms.magneetto.com/wonderland/2015_0522_Sino_Agro_Food_Q1_results/view

The land opposite to theirs is worth $1 million per mu according to Solomon. Bertil interrupts Solomon and says that it is their most underrated asset.

Now, 3 000 mu of land worth $ 1 million each, that is three billion dollars. Maybe SIAF will get ownership of 50% of this subsidiary (not sure which it is but mega farm maybe?), then it is $ 1,5 billion of value to SIAF.

Today SIAF has slightly less than 18 million shares outstanding. 1500 million dollars/18 million shares=83 dollars per share.

I.e. only that land is worth 83 dollars per share, or roughly five times what we are valued at today. Now I guess we have some more dilution ahead of us due to the conversion of the Eurochina loan to shares, but say that the land is worth 3-4 times of the current market cap. Not too shabby.

I hope someone can help fill in the details that I am missing because this is quite interesting in my opinion.