PRIMEAG AUSTRALIA LIMITED 
By
7th February, 2012
The Manager
Company Announcements
Australian Securities Exchange - ASX Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
Via E-Lodgement
Dear Sir / Madam,
Attached for the market's information is a Company
Announcement.
Samantha Macansh
Company Secretary
T E L E P H O N E : 6 1 7 4 6 8 8 4 5 8 8 FA C S I M I L E : 6 1 7 4 6 1 3 0 2 3 0
S T R E E T A D D R E S S : 78 W E S T S T T O O W O O M B A Q L D 4 3 5 0
P O S T A L A D D R E S S P O B O X 1 3 1 2 , T O O W O O M B A B U S I N E S S C E N T R E Q L D 4 3 50
Queensland/NSW Flood Damage to PrimeAg Minimal to Date
This market update is provided following the significant
rainfall and widespread flooding that has been occurring in
Northern NSW and southern Queensland, including in the Gwydir
and Namoi River valleys where PrimeAg farms are located
(Gunnedah and Moree hubs), and at Emerald where the Fairbairn
dam is spilling with moderate flooding expected downstream
(where PrimeAg farms are also located).
PrimeAg CEO, Mr. Peter Corish, said today "I am pleased to
report that PrimeAg infrastructure and crops (after initial
assessment) have so far escaped major flood damage. There has
been some repeat inundation (following an earlier period of
heavy rainfall in November) in small areas of summer crops in
irrigated fields at PrimeAg's farms at Garah, west of Moree,
but the company's substantial investment in flood mitigation
and pumping infrastructure in recent years appears to have
paid dividends.
"All staff are safe and equipment appears to have escaped
significant damage."
"The above average rainfall has replenished headwater
reservoirs in the Gwydir (Moree), Macintyre (Goondiwindi) and
Nogoa (Emerald) River systems. It has also enabled PrimeAg to
fill its farm reservoirs at most locations. As a result,
PrimeAg now has ample water supplies for planned FY13
irrigated crops at most locations, and its farms at Emerald,
Goondiwindi and Moree now have ample water for FY14 irrigated
crops as well."
"Our dryland cotton has benefitted from the recent rain and
has the potential to perform well against forecast
production", Mr. Corish added.
"For obvious logistical reasons, full financial analysis of
any weather damage to summer crop production and quality
across all PrimeAg farms is not yet possible. In addition,
weather over the remainder of the season until harvest
(likely to extend between mid March and early June) will, as
always, influence crops yields and quality. We would now like
to see a period of sunny, hot weather as harvest
approaches.
Mr. Corish said "PrimeAg is fortunate that only around 5% of
the irrigated cotton crop was reaching maturity when the
recent rain commenced, which should lessen the likelihood of
major quality downgrades.
PrimeAg will provide more definitive updates when it is in a
position to do so," Mr. Corish concluded.
For further detail contact: Mr Peter Corish
(07) 4688 4588
T E L E P H O N E : 6 1 7 4 6 8 8 4 5 8 8 F A C S I M I L E : 6 1 7 4 6 1 3 0 2 3 0
S T R E E T A D D R E S S : 78 W E S T S T T O O W O O M B A Q L D 4 3 5 0
P O S T A L A D D R E S S P O B O X 1 3 1 2 , T O O W O O M B A B U S I N E S S C E N T R E Q L D 4 3 50
| distribué par | Ce noodl a été diffusé par PrimeAg Australia Limited et initialement mise en ligne sur le site http://www.primeag.com.au. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-02-07 07:39:37 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
| Documents associés | |
| 7th February 2012 - Announcement NSW / Southern QLD Flooding |
