Minister of Culture Team Visits Pietrasanta
Our team at Pietrasanta has been quietly developing a social impact initiative to enhance the lives and future of the children of our zone. The idea is to create a pilot program, which teaches children and teens practical skills, such as organic and sustainable agriculture practices. In addition, we will be constructing a community library, which will serve the 65-100 children within our zone.
During a visit to Bogota a few weeks back, I met with the Minister of Culture and her team regarding this initiative. I was surprised at the incredible support for our project. Without blinking, we were told that the government would be willing to pledge the design services, support staff, supplies, books, and educational resources. Essentially, if we build it, they will provide everything else needed. Last week we welcomed the minister’s team to discuss potential site locations and the implementation strategy. In order to show the strong support and need for this project we invited 65 of the local children and teachers to meet with the minister’s team to discuss the project
Our resident assistant administrator, Olga, organized a special presentation for the minister and her team. Including a dance recital and a theatrical performance showcasing the cultural music of the area.
This is an amazing opportunity to do more than just give a gift. Everyone knows the old saying: You can give a man a fish and he can eat for a day or you can teach a man to fish and he can eat for a lifetime. Investing in the communities in which we operate is essential to the success of our projects. That is why we will be officially launching a social sustainability program, which will be apart from our investment offerings. This is meant to be a non-profit activity strictly to enhance the lives of those in our communities. We plan to initiate a gift-matching program in which Farmfolio will match donations to this non-profit entity. We will be releasing details on this program in the coming months. If you would like to get involved, please contact us at [email protected]
Ok, now on to the business…
The rain is here and all those little dirt diamonds are soaking it up! On average, each plant will require 12 liters of water per day within a 4 square meter radius of the tree. We have been exceeding those figures by a wide margin thus far.
During a shower last week, we received almost 100 liters in one square meter! Experts are predicting this year to be a La Niña year, which means we should get excess rains in our location.
Now that the first 50 hectares have been planted, the focus turns to the nursery and prepping the next batch of 26,000 trees for transplant in July/August. We anticipate that the germination rates of this batch should prove to be higher than previous ones due to the time of year. So far so good! We’re seeing very positive growth since the seeds arrived in late February. We anticipate closing out the year with approximately 29,000 trees in the ground and another 14,500 plants ready for transplant in early 2018.
Cattle pricing remains strong so far this year; currently at 4600 COP per kilo. The early rains this year drove up cattle prices, which gave better than expected margins on recent sales. However, new purchasing has been at higher per kilo rates, which could have an effect on margins later this year if prices fall. Our cattle team believes the demand will keep prices up through the end of the year. We are not changing our yield projections this year and we anticipate another dividend distribution to be paid out in Late December.
We are very excited to announce that we have a preliminary plan to begin commercializing our teak thinnings as early as 2018. Originally, we projected a harvest date of 2021 for our teak plantation. However, during the month of April, we met with a teak buying group that informed us that they would be interested in purchasing our teak thinnings, which we anticipate to be approximately 4600 cubic meters of wood. These revenues are not factored into our original financial projections and will be bonus income that we did not anticipate. We are still working on the contract and we are running quotes on harvesting and transportation, so we do not have a final projection yet, but we will update you once we finalize everything. Stay tuned!
Capital Raising Tour
VEGAS! We’re back on the road at the money show in Las Vegas. We presented “Loco for Coco”, which is a new presentation focusing on the tremendous growth of coconuts. We have had a very strong and positive response so far, we anticipate that GP II will be close to sold out as we wrap up here and hit the road this summer. The updates on GP II, along with the dividend have investors moving very quickly to get a piece of the remaining 2400 shares. If you’ve been sitting on the sidelines, now is the time to get them while you still can. Remember, shares are selling at a 30% discount to the cash flow valuation. If you would like more info, please email [email protected]
J. Dax Cooke | CEO
www.farmfolio.net | +1 (888) 565-9941 – Ext (100)