# LRK - Lark Distilling Co.



## yogi-in-oz (27 May 2007)

Hi folks,

MTI ... expecting this one to lift off its lows this week, as two 
positive time cycles come into play ..... 

..... have not been able to upload a chart here for a long
while, guys ..... any ideas what the problem may be ... ???

happy days

 paul



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## System (15 December 2015)

On December 15th, 2015, Montec International Limited (MTI) changed its name and ASX code to Australian Whiskey Holdings Limited (AWY).


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## greggles (8 March 2018)

Australian Whiskey Holdings announced today that its private placement to raise $7.85 million was heavily oversubscribed. 

The funds will be raised by a placement of 262 million fully paid ordinary shares in two tranches. The shares will be issued at $0.03 per share representing a discount of 14.3% to the last closing price as at 5 March 2018 of $0.035. This also represents a discount of approximately 7.3% to the 10 day VWAP of $0.032.

According to the company the funds raised will be used for:

continuation of whisky buy-back programme;
capital expenditure for stage 1 expansion of Nant Estate to increase production to approximately 700 barrels per year;
planning for a second stage expansion of the Nant Estate involving the construction of an additional distillery on-site to increase production to approximately 1,500 barrels per year; and
investment in sales, marketing, distribution, additional staff and transaction costs.
AWY share price climbed 28.57% to finish at 4.5c today.


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## galumay (9 March 2018)

I hope for shareholders' sake that there is no involvement from previous Nant management!


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## So_Cynical (10 March 2019)

greggles said:


> Australian Whiskey Holdings announced today that its private placement to raise $7.85 million was heavily oversubscribed.
> 
> The funds will be raised by a placement of 262 million fully paid ordinary shares in two tranches. The shares will be issued at $0.03 per share.




Raised 11 million via a placement at 0.041 late last year with a HK based distributor who now has a distribution agreement with AWY, they have a bit of cash now but the burn continues though at a reduced rate.

This company may have turned the corner, SP threatening to break out of the 4>5 cent range ~ i like Whiskey and AWY certainly have a good product and the Chinese like their premium products/brands.


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## System (11 May 2020)

On May 8th, 2020, Australian Whisky Holdings Limited (AWY) changed its name and ASX code to Lark Distilling Co. Limited (LRK).


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## peter2 (10 February 2021)

Lark's market penetration has finally reached me via a much more socially connected person. My first thought was of the Nant whisky scam and I mentioned it. I looked at the chart and was surprised to see it's looking quite bullish. Maybe a medium term trade and nip the profits quickly.


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## Dona Ferentes (9 March 2021)

just moving along. Market cap now $100M

One microcap investor wrote:


> “Lark has an excellent product and brand built over a long history,” he said. “Consumers have more interest in upmarket, boutique whiskies, and Lark has won top whiskey awards. We like its potential to export to more markets and quicken sales growth.”



Adding_; "Lark could become a takeover target. Global alcohol companies are pouncing on boutique spirit and craft-beer producers with premium brands and products."_

_since May listing last year, it has doubled:_


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## Dona Ferentes (16 May 2021)

and Lark powering on .... put on another buck since Feb peaking at $3 before the inevitable retracement.

Then the 2021 Budget comes along, and hopes lift again

_Distillers and brewers are hoping that tax cuts targeting craft spirits and beer production will help Australia’s burgeoning boutique alcohol industry expand its footprint globally, mirroring the export push undertaken by the wine sector 30 years ago.

Tuesday’s federal budget offered small breweries and distillers $255 million in savings by lifting the excise relief cap – which is the mechanism by which both beer and spirit production is taxed – from $100,000 to $350,000.

(_and just as an aside / intel, walked past the Intercontinental yesterday and the queue for the whisky show was hundreds of metres long. Covid spacing probably restricted numbers, but the crowd was mainly young, male, inner urban types)


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## Stockbailx (8 July 2021)

Must be quite a drop @ those prices, business must be booming. Just released Rum Cast 111 for as little as $279.99 for a 500ml bottle (whiskey) . Must be one hell of an extravagant drop! (drink) Price has skyrocket yesterday on release news, hell of an export everyone must want some. Supply & Demand King....Drink up!









						Tasmanian Single Malt Whisky | LARK Distillery              – Lark Distillery
					

LARK is the first carbon neutral distillery in Australia. For over 30 years, our team has built what is now one of Australia's most famous whisky distilleries, recently nominated as one of four distillers for the Worldwide Whisky Producer of the Year award.




					larkdistillery.com


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## Dona Ferentes (18 October 2021)

Tasmanian whisky maker Lark Distilling is aiming to be the *Penfolds *of Australian whisky as it steps up an export program from 2023 after a $40 million buyout of another Tasmanian distiller accompanied by a $53 million capital raising.

Lark managing director Geoff Bainbridge said on Monday the acquisition of Kernke Family Shene Estate, operator of the Pontville Distillery and Estate north of Hobart, would allow Lark to aggressively accelerate an export drive built on the high-quality “clean and green” provenance of Tasmanian whisky.

Lark is also planning to spend $13 million building a new greenfields distillery on the historic Pontville site, with a production capacity of one million litres. That would be up and running by June 2023.

The acquisition will bring in an extra 483,000 litres of whisky worth $24 million, which is in the maturation stage, and alleviate a potential shortage which had been a handbrake on Lark’s export plans



> "We’re following a really well-known playbook in Australian alcohol, and in particular Australian wine,” Mr Bainbridge said.




_LRK looking to open higher_


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## Dona Ferentes (16 February 2022)

Dona Ferentes said:


> Tasmanian whisky maker Lark Distilling is aiming to be the *Penfolds *of Australian whisky ....




rather than moonshine?



> _Entrepreneur Geoff Bainbridge has stepped down as managing director of listed Tasmanian distillery business Lark Distilling, reportedly over a five-year-long extortion threat to expose a video of him smoking an ice pipe.
> 
> The company said in a statement that Mr Bainbridge – who co-founded the Grill’d burger chain – had tendered his immediate resignation “to manage a personal matter” the board became aware of only on Tuesday._


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## JohnDe (16 February 2022)

Dona Ferentes said:


> rather than moonshine?




Goes to show, drugs change a persons brain function, Meth destroys it -

A multi-millionaire entrepreneur and CEO of an ASX-listed company has abruptly resigned after The Australian obtained an explicit video in which he appears to be smoking a methamphetamine pipe.​​


			https://www.theaustralian.com.au/business/lark-distilling-ceo-geoff-bainbridge-quits-over-shock-meth-video/news-story/b55ab3b4f088297c398996adb53cb1e0


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## Garpal Gumnut (16 February 2022)

JohnDe said:


> Goes to show, drugs change a persons brain function, Meth destroys it -
> 
> A multi-millionaire entrepreneur and CEO of an ASX-listed company has abruptly resigned after The Australian obtained an explicit video in which he appears to be smoking a methamphetamine pipe.​​
> 
> ...



He is wise to have resigned. 

I reckon if the boards and management of all ASX companies were drug screened up to 15-20% would test positive for cocaine, ice, marijuana or benzos. For alcohol up to 50% while working or at meetings. 

No wonder many companies go a up. 

gg


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## Dona Ferentes (16 February 2022)

The interesting bit.
_...over a five-year-long extortion threat to expose a video of him smoking an ice pipe...._
Amazing this information didn't percolate up. Either a dissimulator _par excellence_ or force of personality/ corporate dynamo. Or the talent bank for Tassie is embarassingly low.


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## rnr (16 February 2022)

Dona Ferentes said:


> The interesting bit.
> _...over a five-year-long extortion threat to expose a video of him smoking an ice pipe...._
> Amazing this information didn't percolate up. Either a dissimulator _par excellence_ or force of personality/ corporate dynamo. Or the talent bank for Tassie is embarassingly low.








Where to from here....bounded by a Double Top and an almost Double Bottom (2 cents the difference)?


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## Dona Ferentes (16 February 2022)

That “personal matter” is an alleged case of international extortion that stemmed from a visit to South East Asia well before his appointment as Lark CEO.


> “_I attended a gathering with people I didn’t know and don’t remember much more about that night. However, the next morning I was played footage which made it clear I had been set up as part of a shakedown,”_ Bainbridge said in a statement.





> “_Following the incident, due to this captured content I have been the subject of a sophisticated, continuing and recently escalated extortion_.”




Bainbridge paid some money to the extortionists and even brought in a London-based firm of experts in an attempt to deal with the matter. But the leaking of the material to _The Australian_ on Tuesday night clearly made his position untenable.


> “_Ultimately, I put myself in a situation I shouldn’t have been in_,” Bainbridge said. _“I’m a victim of extortion, but that wouldn’t have occurred without my poor judgment. I am deeply remorseful for my own actions.”_


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## Dona Ferentes (16 February 2022)

The man in question.


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## Dona Ferentes (16 February 2022)

rnr said:


> Where to from here... ?



LRK dropped 20% on the news and is now $3.60; given the company now trades about $280 million, there is a clear valuation gap as the December quarter update revealed the company expects to close the 2022 financial year with 2 million litres of high quality whisky that is valued at $430 million.


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## Dona Ferentes (17 February 2022)

In his name:
935,000 Performance Rights, expiring 31.12.2026 
200,000 Ordinary Fully Paid Shares 

 Plus
GJ Bainbridge Super Fund Pty Ltd <Bainbridge S/F No 1 Account> ...  713,555 Fully Paid Ordinary Shares   
Bainbridge Family Pty Ltd <Bainbridge Family A/C>  .... 3,232,478 Fully Paid Ordinary Shares   

One fund manager came out and said:


> _Lark is a 30-year-old company (Geoff was there for two years_)



At $3.60 a share, he did rather well, then.


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## peter2 (25 February 2022)

Lots of speculation concerning the former CEO. Some of this speculation questions his integrity. In view of past shenanigans in the Tasmanian whiskey industry I hope the board arranges a thorough and independent audit of the current inventory. 

I won't be buying this falling knife.


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## Dona Ferentes (28 February 2022)

Net Sales of $10.4m, an increase of 78% on previous corresponding period 
Operating Normalised EBITDA of $1.04m, an increase of 130% on pcp
GP% Margin of 61.9% a decline of 3.5 ppts on pcp as a result of supply chain constraints and changing channel mix as a result of COVID 19
Litres Under Maturation is 1.34m litres, an increase of 250k litres from 30 June 2021 and before adjusting for the Shene acquisition
Net Sales Value of the Whisky Bank at Maturation is $290m, up from $236m as at 30 June 2021 and before adjusting for the Shene acquisition
Cash at Bank at 31 December 2021 of $56.2m, with an additional $10m available through NAB Debt Facility
An extensive global search had commenced in December 2021. This process has now been accelerated, and we are pleased to report we are in discussion with a mix of well experienced, high calibre candidates. Laura McBain will continue to act as Managing Director and has committed to serve in this role until the right candidate has been appointed and joins the business.

_*Outlook*
 Lark has a comprehensive program during FY22 H2 for innovative new products and releases to celebrate and promote 30 years of Lark and Tasmanian whisky.  This is an outstanding opportunity for the company to highlight its brand credentials and reinforce the legacy and significance of the Lark brand in Australia and globally.   
An expanded and focused domestic sales team will drive distribution opportunities in Australia aimed at increasing Lark’s footprint nationally.   _

_......So, seems to have stabilised, and the __Litres under Maturation __are as expected. But a lot is glitzy marketing which will only go so far._


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