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Nufarm & Altura Mining – thoughts on these

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Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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Question asked 31/03/2021

Nufarm & Altura Mining – thoughts on these

James , first and foremost we are very happy with the advice that you provide , the manner in which you provide it , and your website , which I have found to be much more informative and easy to navigate , hence the fact that we have renewed our subscription because the advice received has paid for itself many times over .Now for 2 other matters , our SMSF is holding ASX : AJM ( Altura Mining ) which is currently suspended . The company has been sold to Pilbara and we were wondering what happens from here ( it came highly recommended from another brokerage ). Secondly we also have NUF and have been watching it up and down over the last period of time and would like to know in a general sense what we should look doing and why there have been such fluctuations over a short period of time . Thanks again for all the advice, Gavin R.

Answer

Hi Gavin,

Thanks for the positive feedback, always rewarding to hear.

AJM has been in suspense since mid-2020, Pilbara Minerals (PLS) raised $240m to acquire AJM last December as you mentioned. The conditional bid agreement occurred after AJM fell into receivership last year, unfortunately the secured debt holders will be paid first and shareholders probably should regard any return as a bonus.

NUF has been enjoying the benefits of the recent heavy rainfall on the East Coast, it should improve growing conditions and subsequently demand for its crop protection products. We believe NUF is now a recovery story with good risk / reward on offer around current levels.

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Altura Mining (AJM)

LAST UPDATED 31/03/2021 12:02

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Nufarm Ltd (NUF)

LAST UPDATED 31/03/2021 12:02

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