Replies to post #38951 on ProGreen US Inc. (fka PGUS)

[Davis_Elite]

$370k from the first cut?

The farming under this agreement, which is priced in US dollars, is estimated to yield 3,000-3,600 tons of produce with a value of $1.1 - 1.3 million and an estimated net margin of 55-60%. The JV agreement provides for 50/50 split of profits between PROGREEN and CONTEL. However, PROGREEN will first recover all of its investment in the operation prior to profits being distributed.
The produce will be harvested in 2-3 cuts, with the first expected for late June, and delivery will be to the buyer's packing plant in Ensenada, B.C.

http://www.newmediawire.com/news/contel-signs-million-dollar-produce-agreement-4462364