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Thread: Rubicon

  1. #11
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    quote:Last year they reported on the last possible day. Don't think it will be different this year.
    Not till late August, and that is for 15mth period.

  2. #12
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    The full year report is available here
    om mani peme hum

  3. #13
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    The second to last paragraph reads:

    Shareholders will be aware that Rubicon itself had $71 million of cash on itsbalance sheet at the end of the financial year. Rubicon has a strong trackrecord of using its cash to maximise value for shareholders. We have not beenafraid to invest capital where that is appropriate (our continued funding ofArborGen and our takeover of Tenon are good examples of this) and we havealso returned cash to shareholders when that has been the best use of ourcapital (we returned $60 million of cash to shareholders by way of anon-market buy-back in our first year of operation). Shareholders should beconfident that we will adopt the same disciplined approach we have shown inthe past to the use of our current cash balance.

    I find this "trust us we know what we are doing on your behalf" approach a bit disappointing. I was hoping for another capital return but it looks as if the company is going to be around for quite a few years yet.

    Any comments?
    Taijon
    Wellington

  4. #14
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    I see they seem to be setting up Horizon 2 as the manufacturing arm of Arborgen. Much the same way if a biotech discovers a medicine they have to produce the pills or tubes or ointment on a mass scale in a factory somewhere.

    Arbo is very close to being commercial and there is one passage there that suggests a NASDAQ float or some kind of capital restructurign is on their minds.

    They also say it will now be treated as a business not a JV. But don't reveal a valuation. Looking forward to the hard copy to see what the valuation will be. And what GEN have missed out on.

  5. #15
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    I find this para. particularly intriguing.

    In last year's Annual Report we noted that our shares were trading at closeto the Company's book value, and that our goal was to have Rubicon trading atsubstantially above the asset values recorded in our annual financialstatements. We have made considerable progress towards this objective in theyear, with Rubicon shares ending the period trading at a 24% premium to ourhistoric cost book values - a clear statement of the faith that ourshareholders now have in Rubicon's future prospects.

    Why the mention of historic values here? Shouldn't it be current book values that matter? Therefore is the current 24% premium of historic values at a discount to even greater premium to current bok values?

    They have to reveal all in their accounts sometime next month when it comes to the valuation of Arborgen. I expect the current price will be a discount to the current book value. Technically the charts seem to be supporting such a theory. Watch for a break out in about a month or so.

    Lets not forget that the NY fund 3rd Avenue see fit to buy it up big in the last quarter. Not to mention GPG or Perry. Hang on to your hats when it comes.

  6. #16
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    ArborGen Celebrates Major Milestone with Production of 100 Millionth MCP® Seedling........whoopee!
    Just show us the money. Wheres the income? They have also increased payroll with the employment of 3 more 'high flyers'...

  7. #17
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    Yes, you have to wonder why they felt the need to inform the market of this.

    I see the interim review was basically the same as it is every year. Promises,promises with mostly rehashed news from previous reports. They are now even giving one of the reasons for the dismal shareprice performance as "A few selling shareholders, more recently those who have made a 30% gain since the rights offering in the undersubscription pool and who have determined to realise their gain."

    Heaven forbid the management and directors, who have been in place for years, take some accountability for the shareprice falling from over $1.20 to 29c.

    From the last annual report. Directors fees $414,260, CEO salary $490,000. Total cost to shareholders $904,260 per annum. Not counting anyone else employed by Rubicon. For running a company with 2 assets which have their own management and boards. Not bad work if you can get it.

  8. #18
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    Yep Barney, you read it just like me......Bryan Gaynor's article of last year questioned why Rubicon even needed to exist.Even companies like CER looked at different avenues to invest in......65c and I'm out, might just have to wait a while!

  9. #19
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    Comments from forum cira 2007.Quotes...Rubicon, the company that time forgot>Do you reckon that RBC will complete it's takeover of TEN any time soon?>trees as an ideal source of ethanol - they have a high tonnage yield per hectare and are not limited by a ripening season for harvest. ArborGen's technology will have valuable applications for biofuel, she says, but "in the next four years we have five commercial launches, four of which are transgenic products". >ArborGen announced as partner in US$125m bioenergy centre.....6 years on and still waiting (have held shares for 10yrs) new issue last year got everyone talking, next will be IPO for Arbogen!

  10. #20
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    Quote from 2005 "Does anyone rate this at the moment?" and still asking same question....Rubicon has gone nowhere for years and now trading at .26c with buyers at .22c (last issue price) which was fully subscribed.You would have thought Directors would have got some value back for the long supporting holders....but I suppose when the remuneration keeps coming...why bother. Almost in the basket like the failed finance companies.

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