Cripes there are things that confuse a man
Submitted: Thursday, Jul 24, 2008 at 21:59
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Kim and Damn Dog
Bit staggered tonight. Kidman's are selling off Ruby Plains and the another property close by (can't recall the name). Hope Merve Wortly holds his job. Bloody good stockman and Manager.
Ruby Plains Station covers a vast area to the North of Billiluna and holds some of the best country down the back end that your ever likely to come across.
Having a bit of problem understanding why Kidman's have taken this decision. Ruby Plains runs around 30,000 head (not counting clean skins).
Well watered with very good
infrastructure.
Might be a bit old fashioned, but I can't figure out why this mob want's to sell off two of the premium Cattle Stations in the
Kimberley.
I can understand the de-stocking of Anna
Creek, but why would you off load two of the most successful properties in Australia?
Me thinks there's an accountant behind this.
Buggared if I know.......
Regards
Kim
Reply By: Member - John (Vic) - Thursday, Jul 24, 2008 at 22:19
Thursday, Jul 24, 2008 at 22:19
I thought that record prices are being paid for cattle stations at the moment??
Maybe they are taking some profits with the view to buying back in later when the market goes back down the other direction??
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Follow Up By: Kim and Damn Dog - Thursday, Jul 24, 2008 at 23:11
Thursday, Jul 24, 2008 at 23:11
Gidday John
That's partly true, and certainaly mirrors the history of Kidman over the years. The point I'm making is, why you would sell the jewels in the crown?. Can't quite figure that out.
Regards
Kim
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Follow Up By: Member No 1- Friday, Jul 25, 2008 at 08:09
Friday, Jul 25, 2008 at 08:09
to invest in other property etc etc....
maybe they see something we dont?
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Reply By: Kroozer - Friday, Jul 25, 2008 at 00:47
Friday, Jul 25, 2008 at 00:47
Not sure, but i know that there hasnt been a very big demand for Livestock over in Indonesia this year, or any other countries for that matter. They want them sent over frozen not alive and kicking. Cant really say i know anything about Ruby Plains though, too many other big stations up this way that are on prime land. I hear
El Questro is up for grabs agian too, got a spare $30 million.
Not a bad profit from $17 million, considering that the place has lost its charm and atmosphere being run by a hospitality chain not an individual. Will never be the same, Lord Will was certainly a man who made things happen. Sad really, very nice part of the world, spent alot of time out in that country and now its just not the same.
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Follow Up By: wendys - Friday, Jul 25, 2008 at 16:36
Friday, Jul 25, 2008 at 16:36
ElQ is for sale due to financial troubles of the current parent company. I believe the entire Voyagers resort stock is for sale. Would be great, though, if ElQ went to an individual operator - not much chance, I guess. Probably fair to say the entire
Kimberley is not the same for travellers as it was a couple of decades ago - remember when the
Gibb River Road was actually considered a challenge?
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Reply By: Member - Footloose - Friday, Jul 25, 2008 at 09:29
Friday, Jul 25, 2008 at 09:29
G'Day Kim, methinks you're right about an accountant.
The world turns and changes just a bit more.
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Reply By: Member - AJB (VIC) - Friday, Jul 25, 2008 at 21:40
Friday, Jul 25, 2008 at 21:40
Sturt Creek Station?
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Reply By: Bob Y. - Qld - Friday, Jul 25, 2008 at 21:59
Friday, Jul 25, 2008 at 21:59
Kim,
Hadn't heard this news, but would suggest that the rising cost of fuel, and therefore transport would have a lot to do with it.
Their closest station to these 2 is Helen Springs, then think the rest are in Channel country & SA.
Don't know what breed of cattle they were running @ Ruby Plains, but if they were Santas, then they need to come south, rather than go for live export.
Have worked for a large pastoral co. myself, for a lot of years, and sometimes wonder at their decisions. If we don't know the full story, then it's difficult to judge whether this may be a good or bad decision.
Hooroo,
Bob.
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Reply By: Bushtrek - Friday, Jul 25, 2008 at 23:03
Friday, Jul 25, 2008 at 23:03
I am pretty sure these properties were sending their
young stock to fattening stations in the channel country, then on to Asia.
That would be cost prohibitive now with the cost of fuel, so I would think they need to offload these 2 unless they can find richer country that is closer.
I guess the cost of buying into leases closer to Ruby Plains just isn't going to give them a competitive cost position that will allow them to get the finished product to Asia.
While it all comes down to dollars and cents at the end of the day, I can't see the stations closing, someone will come in and keep them going.
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