City Backs Plan To Reduce Water Use
The rapid storming of assets in the thoroughbred industry by Queensland miner Nathan Tinkler has raised eye brows over the significant amount that Tinkler Patinack Farms has outlaid over the past six months.
Once Tinkler commenced buying yearlings at New Zealand Bloodstock Ltd Karaka Sale Series in January the public face of the operation was revealed to the industry. Tinkler, Landscaping Stone an unpretentious man not given to flamboyance just because he is wealthy, had an aim to invest in the industry and build a business that spanned both bloodstock and racing.
The costs of buying yearlings rose as the sale went past, along with stallions, horses in training, stud farms and broodmares. The total to-date is could be in the vicinity of $50-60 million.
While it all seemed somewhat unreal, Landscaping Stone it was actually a real demonstration of the mineral wealth that the world commodities boom has created in Australia.
Landscaping Stone And it seems that Tinkler is not going to run out of money anytime soon. Finance media reports over the past 24 hours say that Macarthur Coal might be about to receive a takeover offer.
Macarthur Coal produces pulverised or coking coal, which is used in the production of steel, and thermal coal, which is used to generate power stations.
The company’s two operations, Coppabella and Moorvale, are located in Queensland Bowen Basin, and they are surrounded by the other major mining giants.
The reports say that the value of coking coal has soared 200 per cent this year, as demand from Asia continues to support a big lift in coal prices in what is Australia’s biggest export industry. PCI coal is forecast to triple in prices to $200 a tonne for the 2008 contract year, which began April.
KenTalbot, the former chief executive of the company, holds about 50.9 million shares or 24.02% of Macarthur Coal. Chinese group CITIC is the second largest shareholder with a 19.9% stake and Tinkler Investments holds about 10.4% of the coal miner.
Talbot holding was valued at $750 million in the media on Tuesday, which values Tinkler holding at around $325 million, and that is before any takeover premium is factored into an offer for the strategic shareholding.
If the takeover goes ahead is another matter of course, but Patinack Farms would seem to be well backed by Tinkler mineral investments.
Mind you, the operation will need some significant cash flow to get through the first couple of years for the yearlings alone. Take 100 yearlings, and multiply by an average $30,000 per horses for metropolitan training per year, and it is a very large sum of money to bank roll. That takes winning 80 plus Saturday metropolitan races per year to cover.
Tags: investments, Landscaping, Landscaping Stone, money, water use0
