Dekel Agri-vision Share Discussion Threads

[smithie6] 12/4/2024 12:36

"Aris founded a rubber processing startup and owns a rubber plantation. "

Will that be the next thing to be sold to DKL ?!
Je je
20 million € ?

Since the director(s) are the sellers & also the buyers it would surely be a bad deal for shareholders. (The cashew nut idea was a scam imo. Valued at millions of € but it didn't exist ! No warehouse, no machines, no nothing I think !!).

[smithie6] 12/4/2024 12:31

I completely agree.

Absolutely no point in buying expensive machines to do peeling if it makes no real increase in the resulting price due to doing the peeling.

One assumes that there is a simple explanation.
That that part of the RNS is wrong.

[34adsaddsa] 11/4/2024 23:06

I think this is uninvestable without knowing why the price of peeled cashews is now just 3% higher than unpeeled. It was 33% a year ago!

At those prices, surely any peeling operations would be unprofitable and the peeling operations would be a liability, not an asset.

[outlawinvestor] 11/4/2024 19:19

Thanks Ptolemy. Aris founded a rubber processing startup and owns a rubber plantation. AFAIK he doesn't own a palm plantation.

[ptolemy] 11/4/2024 18:51

it was mentioned in the article in post 3007 .

[outlawinvestor] 11/4/2024 18:19

Ptolemy - which exec? Would be nice to know the details. If it was acquired before founding DKL I can't see why it is a problem after all DKL foremost a large scale processor rather than a grower. If after DKL and the company had first refusal, again I don't see a conflict. And no issues purchasing FFB from the exec's plantation as long as it is at the same commercial rate paid to others since at the end of the day you either buy feedstock from wherever you can find it or keep your mill idle.

Aris, non-exec board member, owns a rubber plantation in CI but obviously that's not who you are referring to.

[ptolemy] 11/4/2024 12:02

I find it a bit disconcerting that one of the Execs owns a 700 acre plantation nearby in Cote d'Ivoire. I hope there's appropriate (how do I phrase this) 'segregation of assets.'

[smithie6] 11/4/2024 11:33

..some might argue it exists so 2 Israeli directors can enjoy the use of a luxury car
And lifestyle...

Wherever they are based...

Be it in Israel or perhaps Cyprus.
Since it seems for sure that they are not anywhere near any of the DKL operating sites !

...they gave the keys to Lincoln Moore & left him and the local managers to manage it all !
..oh, and the consultant for the (second set of ) new machines...since they realised that in-house they didn't have a clue !

[2magpies] 11/4/2024 11:13

Lower prices, higher production

Lower production, higher prices

Slow down, speed up

Speed up, slow down

And so the story continues.

Been the same for years, and years and........

What precisely is the reason for this Company existing?

[smithie6] 11/4/2024 10:13

Looking at today's RNS
..the price for unpeeled cashews is only 3% lower than for peeled cashew nuts.

So why bother going to the high cost to buy & install new machines ?
And I assume throw away the old ones !!

Local CPO prices, only ~3/4 of the international price. That does not look not good for the margin.

[rightnellie] 08/4/2024 15:39

Surging soon - you heard it here so you have your chance. Something weird is happening today though!

[royalalbert] 08/4/2024 12:43

Riv it's all about our margin, hopefully increasing but remember in the last update it was stated that it's healthy. If costs can be kept low through input prices etc, DKL should start turning a corner.
Will be interesting to see how cashews are progressing any meaningful news and we are of to the races.

[rivaldo] 08/4/2024 09:25

CPO prices have surged again and are now at 15 month highs at $1,090:

[rightnellie] 03/4/2024 10:03

Palm Oil prices up nicely. Dekel now in peak palm oil season so that part of the business should be creating good profits. The Cashew nuts have been a bit of a nightmare but surely even that will come right very soon. These shares are a real bargain and an opportunity to make some money.

[rightnellie] 03/4/2024 10:03

Palm Oil prices up nicely. Dekel now in peak palm oil season so that part of the business should be creating good profits. The Cashew nuts have been a bit of a nightmare but surely even that will come right very soon. These shares are a real bargain and an opportunity to make some money.

[tradertrev] 03/4/2024 09:18

Nice move in the palm oil price

[rivaldo] 27/3/2024 12:21

Up 15% - this is just the start. Well, hopefully.....

[rivaldo] 27/3/2024 09:30

Buys of 362,903 and 250,000 this morning appear to have had an impact. Hallelujah!

[2magpies] 26/3/2024 12:02

Oh, that was a buy?

That must be why the share price has started sliding.

[rightnellie] 26/3/2024 09:26

400000 was actually a buy this morning - not a sell!

[harry the haddock] 22/3/2024 22:22

So is smithie wrong ??

[rivaldo] 22/3/2024 10:42

The CPO price has surged upwards to $1,070 as of Wednesday:



Hard to believe that local prices can remain disconnected from this for too long.

[smithie6] 19/3/2024 11:21

Btw
Looks to me like the 2 Israeli directors have 2 nice luxury cars, bought by the company, for ~170k€ for the 2.
....for use in the Ivory coast ?

No, no, in Israel !

...it's in the depths of the accounts.

-----
Part 10 of note 10 of the AR for 2022, page 50.
"In August ((2022) and in October 2022 a subsidiary of the Company signed two loan agreements for two vehicles in the amount of €148 thousand (denominated in NIS). The loan is for 5 years with annual interest of 4.2% which is linked to the prime interest rate in Israel."

NIS is the abbreviation for the currency of Israel.

The costs of the CEO are charged to the group via an Israeli company. The costs of the CFO are probably also charged via an Israeli company. Surely the same subsidiary, in Israel, that took out the loan.

------

The accounts state that vehicles are depreciated over 5 years, so after 5 years these 2 luxury cars will be on the company books with a value of 0€.
Hence these 2 luxury vehicles could then be given away to these 2 execs for 0€ since they will be in the audited accounts with a value of 0€.
Most of us would be very happy to get a 5 year luxury car for free.

[smithie6] 19/3/2024 10:47

Armstrong & Milton & any other independent holder of >3% imo need to call an EGM to vote

1) to sack Mr Raisin the CEO (but that he serves out his notice of 2 years located in the Ivory Coast (. ;-). ) as an operations/site manager/assistant & not as CEO or accepts a pay off of 1 year) since he seems to be located in Israel when the company operations are all in the Ivory coast !! & he seems to devote very little time to DKL work. The active exec. for the co. appears to be Lincoln Moore.

And for the dubious process of creating ventures to then sell them to DKL, to enrich himself rather than to enrich/benefit DKL shareholders (as required by the Company Act 2006).

2) require that all execs must work at least 5 days/week (>37.5 hours/week, 5 weeks annual holiday ) for DKL & to be located in Ivory Coast for >=90% of the year.

3) remove/replace the non-exec chairman for being a completely ineffective yes man, a pawn of the exec dirs & he has co-operated with the dubious actions of the Israeli exec dirs.
And due to having been the chairman for many years & the rules for good company governance imo require the chairman to be replaced every X years.

4) put a representative of the independent shareholders on the board as a non-exec to try to safeguard the interests of the normal shareholders. This could be from First Equity Limited (which holds ~10% of the co.) or someone nominated by them.

5) if Lincoln Moore has in reality been doing the functions of CEO for the X years then perhaps appoint him as CEO on a trial basis, to be confirmed as CEO if ok performance.
He has been interacting with the stock market via RNSs, financial PR companies & shareholders & has been interacting/directing the operations/managers in Ivory coast, so there he looks to have in reality been the CEO for some years already.