Listed crocodile breeder,
The firm is looking to invest in the production of avocados and macadamia. Currently,
Last year, the group moved to acquire
Although that acquisition is yet to be completed,
"Shareholders approved the purchase of a 51 percent stake in the Dallaglio mining group late last year, but one regulatory approval for the acquisition is still awaited. The financials of this group have therefore not been consolidated in the 2019 results.
"Management is very positive about this investment and once the business comes online it will enhance foreign currency generation and significantly improve the Group's profitability," said chairman
"The investigation and feasibility study into plantation cropping (avocados and macadamias) has been successfully completed and the project has now advanced towards identifying suitable locations that fulfil the multiple variables relevant to successful production.
"Given the lengthy period before commercially viable crop yields are produced, attention is being given to additional shorter season/cycle export crops that will provide positive liquidity and profits during the developmental phase of the plantations.
"The objective is to commence operations in early 2021."
With global food demand largely stable and projected to grow, horticulture business is considered value accretive.
The move by
In addition, last year,
And the move to acquire Dallaglio is strategic in view of the gold's 'haven status' for global investors, which has been further buttressed by the coronavirus (Covid-19) pandemic.
Gold is currently trading at circa
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