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fisher1

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Wasn't Sir Robt Jones proven to be a crook or something? He was able to avoid culpability by having signed a contract with the company he founded before he left it and even while he was in its employee he sold all his shares without disclosure.

 

Something like that. My memory fails me a bit but if someone is upholding Jones' interests here, I would give him a quick drop kick out the front door for as far as my boot will allow.

 

Put it this way. I have never lost money following Ron, Gibbs, Weiss and co. but I did with RJI and later TTP.

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GPG was a large holder of TTP run by Sir Rob it probably one of there first large losers but in those days not much notice was

taken as lots of money was been made by every one but it was Dr W & Gibbs that led the attack and failed..

 

GPG thinks they are experts in every thing from Sandstone,Chooks[free range] eggs,Motel soap,Car deals, Cotton Threads, Kiwi fruit and lots more so having a GO at CSR is NO new deal when they should of looked after there own account BETTER..

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Lets see, Exxon puts in $600m to a algae based biofuel programme, CSR puts out a letter touting for interest, GPG and Brierley are agitating for change and are up to something at MSF, CCF goes in to a trading and RBC's Arborgen is busy planting great tracts of land in the US.

 

Seems to me we are going to have what we are waiting for soon.

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  • 1 month later...
Sugar prices going to the roof, could retest 2.50 again soon??
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It didn't quite get there, Sabre

reversed a tad short of Fib 161.8% and has now broken below the March-July rising support.

If that trendline stays broken, it's likely to drop back to 100% or even to that old support/resistance zone around $1.56

 

I'm currently not holding either position, but if I had to decide, I'd be short from about $2.

 

post-20537-1253849635.gif.

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Your words may prove to be right on the money Arty. CSR now in a trading halt pending cap. raising details.

 

They had one not long ago so why they need another is mystifying. I would say that building is so bad they need more (which I doubt) or it is something to do with the spin out of the sugar business (which I don't doubt).

 

Is it just coincidence that rumours about MSF and Tully's are making the rounds at the same time?

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Sugar still rising mainly due to a shortfall in the Brazil harvest due to to much rain, which follows a lower harvest in India due to not enough rain.

Up again last night.

 

"Sugar and cocoa prices rallied on Wednesday as strong supply and demand fundamentals for soft commodities attracted fresh investor buying and speculative inflows.

 

BrazilÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s sugar production will be 2.1m tonnes less-than-expected due to heavy rains between July and November, according to Conab, the national crop supply agency, which forecast 2009/10 output would fall to 34.6m tonnes, compared with SeptemberÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s projection for 36.7m tonnes.

Liffe March white sugar rose 2.1 per cent to a record $670 a tonne, up 11.7 per cent over the past six sessions. Raw sugar prices have traded above the 25 cents a pound mark this week for the first time since 1981. ICE March raw sugar jumped 5.4 per cent at 26.15 cents a pound before easing back to 25.92 cents.

 

Dealers said Brazilian producers had told trading houses that about 1m tonnes of sugar scheduled for delivery in the first quarter of next year would not be available.

 

The shortfall will force dealers to rely on supplies from Central America and Thailand. However, sugar in both areas is trading at a premium to the New York market, suggesting international prices could move higher.

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The market is trying to do its job,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ said a senior sugar trader. ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“It is trying to squeeze whatever supplies remain available and, at the same time, trying to defer demand as long as possible.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

Talk that raw sugar could reach 30 cents a pound circulated widely. "

http://www.ft.com/cms/s/0/e8e772ee-ea3a-11...144feab49a.html

http://futures.tradingcharts.com/chart/SU/A9

 

 

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Bit more detail form business spectator.

 

 

Shanghai-based Bright Food (Group) Co Ltd says it has proposed talks with CSR Ltd to buy the company's sugar and renewable energy business for cash.

 

In a media release, Bright Food said that it had written to the chairman of CSR offering to hold talks on a proposal under which the company's wholly-owned subsidiary, Shanghai Sugar Cigarette & Wine (Group) Co Ltd (Yantang), would buy the sugar business.

 

Bright Food said it valued CSR Sugar at not more than $1.5 billion.

 

Shares in CSR surged as the market opened, climbing 7.37 per cent to $2.11 at 1015 AEDT, having traded as high as $2.13, against a 0.36 per cent slide in the benchmark index.

 

Yantang chairman and Bright Food vice president Ge Junjie said the company was keen to invest in the Australian food industry, especially the sugar industry.

 

"We would welcome the opportunity to work directly with CSR Limited to discuss and hopefully finalise the details of a potential acquisition by Yantang of the sugar assets held by CSR Sugar," Mr Ge said.

 

"This acquisition aligns with Bright FoodÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s long term strategy to build resource related businesses which also include food related, dairy, wine and nutrition products."

 

Mr Ge said the company had written to CSR Ltd chairman Ian Blackburne and was "hopeful of a prompt and positive response".

 

"We believe our proposal for a potential acquisition of CSR Sugar for cash would be a much more attractive and significantly more secure alternative to the current plan by CSR Limited to demerge its sugar assets," he said.

 

Bright Food said the $1.5 billion valuation represented a significant premium to the average value attributed to CSR Sugar by analysts.

 

Outlining the benefits of its proposed acquisition, Bright Food said a deal would give Australian sugar cane growers direct access to the rapidly-growing Chinese sugar and food markets.

 

The company also noted that a cash bid would provide funds for CSR to meet its liabilities.

 

Bright Food said it would require a short due diligence period prior to entering into a definitive transaction, which would not be subject to finance.

 

A deal would require approvals from the Foreign Investment Review Board and various Chinese government agencies, with approvals from the latter expected to take three to four months following an agreement.

 

Bright Food, which is one of the largest food companies in the world, posted revenue of about $US7.1 billion in 2008 and has more than 3,300 retail outlets across China.

 

Its principal shareholder is Shanghai Municipal Government. Yantang is the largest sugar wholesaler in China.

http://www.businessspectator.com.au/bs.nsf...ent&src=hp1

 

 

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