Replies to post #101231 on Sino Agro Food Inc (fka SIAF)

[IKEA]

We only get consulting/service fees for now.
Siaf don't OWN any stake in MF, yet!?

[RealDutch]

The difference between designed capacity and targeted capacity in that document is the difference between 400 000 tons and 300 000 tons. In the PR they mention a designed capacity of 2 million fingerlings per tank compared to 600 000 being stocked. Looking at production forecasts I'd like to remember that they were based on 600 000 fingerlings per tank in the forecast leading up to 10 000 tons in phase 1 second stage.

Erm, no. 600,000 is just a trial run. Lets use 100 pieces/kg because they sell them at various stages (when they are small). Possibly more but lets start with 100. Multiply by 36/48 because the tanks are bigger than a standard APM. And lets use 4 cycles per year.

600,000 / 100 * 4 * 36/48 = 18MT / standard APM.

2,000,000 / 100 * 4 * 36/48 = 60MT / standard APM.

So you can see that 2M pieces/tank is normal.
And that will give you 8,640 MT targeted capacity for 3 buildings (x 48 x 3) which should equal roughly 10,000 MT designed capacity.

You accuse me of speculating which is really getting old but it is you who is speculating all the time. Adding a lot of spin in the process.

Concerning capital expenditure up to date in comparison to what is completed I have already talked to Erik about the need for a better update so we can understand how the project is working out financially. Right now we can only speculate without those facts, like you do in your post again.

That should be interesting. Well, if we use $12M on average for the past 8 quarters (should be roughly right) then we get to $96M booked which leaves some $50M. They need it to complete building 3 and wrap up Phase 1. I'm still missing 5,000MT designed capacity.

My guess is, we will hear nothing.

[RealDutch]

One thing you can bet the farm on with this company. Solomon is a loser and will always find a way to destroy shareholder value. My opinion hasn't changed for the past 3 years, whether I'm a shareholder or not.

The only question is, how much value will be left after they dilute the carp out of us, yet again. And, will they spin off the MF prematurely?

I will repeat what I said before. If they report on time and there are no nasty suprises, then I will buy a few shares. If I have the money... If they acquire PF1 or PF2 then I will triple my stake. And if they give guidance (and start behaving like a normal company) I will probably buy some more. I think that's fair.