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I suggest anyone considering buying into Seeka or Satara have a look at Seekas latest announcement. It finishes with "...outbreak of the disease has the potential to seriously impact on future earnings of the company" .Thats honesty for you.
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I haven't heard anything much on the research side that would be positive medium term. Last season they tried the antibiotic/ probiotic spray from BASF which I heard was useless but I imagine desparate growers are trying it. Not Seeka anymore. The best hope was for drilling into sap and pumping antibiotic under pressure - used in apples apparently. Otherwise what is there ... rip up the vines, look for resistant plants, or head in sand.
I would say at the moment the wealth destruction in the industry would be similar to finance companies in 2007...but opportunities for tax write offs or more positively a white knight in a lab coat...
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Seeka and Satara to merge
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SEK lowest offer of 7,598 @ $1.77, could be placed to pop.
Edit. Lowest Bid was 10,000 @ $0.93
Last edited by smpl; 23-02-2012 at 10:15 AM.
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Lowest Bids
5000 @ $1.00
4000 @ $1.02
Highest Offers
7,598 @ $1.77
2,534 @ $1.78
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They were well oversold in the PSA panic. But interestingly, Satara aren't showing the same resilience. Any ideas why not ?
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I think Satara are having their difficulties,1 season ago Eastpack were looking to merge,then came PSA and they pulled out,then SEEKA had their go,I don't think they are efficient enough in this competitive industry,it all comes to packout cost,i.e cost of packing per tray,and apparently they only have one decent packhouse right in Te Puke,with a few smaller less efficient ones,plus they are losing growers.
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Originally Posted by smpl
Lowest Bids
5000 @ $1.00
4000 @ $1.02
Highest Offers
7,598 @ $1.77
2,534 @ $1.78
SEK currently up 18.7%, with over 7000 taken out at $1.46. There is still 55,000 on the buy side and only 9,000 on the sell.
If the 9,000 offered at $2.45 is taken out, SEK will be up over 160% today! This is following it being up 23% ove the last two days.
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