Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Ridley Corporation Ltd T.RIC


Primary Symbol: RIDYF

Ridley Corporation Limited is an Australia-based provider of premium animal nutrition solutions. The Company operates through two segments: Packaged Feeds and Ingredients and Bulk Stockfeeds. The Packaged Feeds and Ingredients segment comprises animal nutrition feed and ingredient solutions delivered in packaged form, ranging from one ton down to three kilogram bags. It also includes the Aquafeed Business Unit. The Bulk Stockfeeds segment includes animal nutrition stockfeed solutions delivered in bulk. Its specialist areas include Aqua Feeds, Bulk Ruminant Stockfeeds, Bulk Monogastric Stockfeeds, Animal Proteins & Oils, Commodities, NovaqPro, and Primo Aquaculture. It manufactures and supplies a complete range of prawn/shrimp feeds and fish feeds for species, including Monodon, Vannamei, Banana, and Stylirostris prawns. It is also a provider of dairy feed, cattle feed, and sheep feed. It provides bulk stockfeed for monogastric animals, including layers, broilers, pigs, and ducks.


OTCPK:RIDYF - Post by User

Bullboard Posts
Post by clestoron Mar 30, 2012 12:08pm
395 Views
Post# 19738938

RIC Guidance has been lacking

RIC Guidance has been lacking

Francoeur was supposed to begin commercial production in 3Q11, but production has been delayed 6 to 9 months.  Subsequently, RIC announced expected headgrades will be significantly lower . . . "the mineralized zone appears to be more discontinuous than in the initial geological model, and grades are mostly in the range of 4.5 g/t to 5.5 g/t Au versus the 2009 probable reserve grade of 6.9 g/t Au."

Maybe Francoeur production will be 22,000 to 25,000 per annum versus 30,000 to 35,000 target communicated to investors previously. 

So, Francoeur development is costing more than initially guided, production will be 30% less than initially guided, and cost per oz will be higher than initially guided.  RIC followed up this debacle with the PEA on Wasamac that has dropped the stock 16% so far. 

As a backdrop to all this, the CEO started selling his stock last summer in the $12 range and then announced his resignation.  What did he know that he did not tell shareholders?

Maybe it would be wise to let a new CEO reset investor expectations appropriately before taking a position in RIC shares.

GLTA

Bullboard Posts