# HPP - Health and Plant Protein Group



## Odduna (20 December 2005)

Rumors from country QLD that BUG will be used as a 'backdoor listing' by Kingaroy based PCA (Peanut Company of Australia). 

In an attempt to spread its commoditiy base, as well as to overcome increasing pressure from other local peanut processor Crumptons, PCA see BUG as an opportunity of listing on the sharemarket as an cheaper method of dissolving the growers co-op whilst creating some diversification.

PCA strengths are placing pressure on growers in order to squeeze margins on their basic product. This expertise would be useful for the BUG operations.

BUG will also fit in nicely with its expertise in product enhancement which PCA has yet to explore.

Recent bad profit news could signal a move by PCA.

Although 'Big sisters foods' have almost a 20% stake in the company, it is believed that Big Sisters would welcome the chance of escaping the stock that has been on a downward spiral this last decade.


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## System (11 November 2015)

On November 11th, 2015, Buderim Ginger Limited changed its name to Buderim Group Limited.


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## The Triangle (15 November 2020)

Sold out of the ginger business to focus on macadamias and capital raising at 17c to boost working capital and advertising on the cards.   

Market cap looks like it would then be ~20-25 million.    the nuts busniess appears to have a 3-4 million ebitda so the valuation of the business seems fair.   Some interesting potential here, but being thinly traded, having a terrible 5 year chart, negative operating cash-flows recently, lots of $ locked in inventory and no specific plan to increase nut production I probably need to see another set of financial results first to consider this investment.


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## System (24 December 2020)

On December 24th, 2020, Buderim Group Limited (BUG) changed its name and ASX code to Health and Plant Protein Group Limited (HPP).


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## The Triangle (14 May 2021)

Good update today, appointed a new chairman to the board who has worked for all the big foodies like coke, cadbury, kraft and is a director of Select Harvests.   They also mentioned that they now have the leading brand in macadamias in the US.   

Market cap sitting on 30 million.  Good time to be in this kind of business in the US.   Wonder if SHV will be making an acquisition soon?


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## The Triangle (20 May 2022)

Ouch.  Now trading at 10.5 cents per share (peaked at mid 30s last year) with a market cap of 12 million.

Macadamia Enterprises in QLD is selling their macadamia farm (350 acres) for $70 million dollars - It produces about 1500 tonnes and HPP reportedly own a 4,000 acre macadamia farm in Hawaii producing about 4500 tonnes...  You'd think on that alone - knowing nothing else - HPP would be sitting on many millions in land value.  Just looking on the internet - per acre - Hawaii farm land seems to sit at around a minimum of $7,500, and anything with crops already growing looks like its well above $25,000.  That gives me about $30,000,000 - $100,000,000 USD in value for a 4000 acre macadamia plantation (But really I have no idea what I'm talking about here).  HPP has a 'sales price per acre' of $7,000 in their annual report.

So to take a quote from the slater and gordon debacle several years ago, there must be a few cockroaches in the kitchen at HPP...  If the values above are even remotely accurate - why wouldn't private equity just swoop in buy HPP, liquidate and sell everything off for a tidy profit?





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## Garpal Gumnut (20 May 2022)

The Triangle said:


> Ouch.  Now trading at 10.5 cents per share (peaked at mid 30s last year) with a market cap of 12 million.
> 
> Macadamia Enterprises in QLD is selling their macadamia farm (350 acres) for $70 million dollars - It produces about 1500 tonnes and HPP reportedly own a 4,000 acre macadamia farm in Hawaii producing about 4500 tonnes...  You'd think on that alone - knowing nothing else - HPP would be sitting on many millions in land value.  Just looking on the internet - per acre - Hawaii farm land seems to sit at around a minimum of $7,500, and anything with crops already growing looks like its well above $25,000.  That gives me about $30,000,000 - $100,000,000 USD in value for a 4000 acre macadamia plantation (But really I have no idea what I'm talking about here).  HPP has a 'sales price per acre' of $7,000 in their annual report.
> 
> ...



This outfit's problems stem from a lack of dinero going forward, having only one quarter of cash left as disclosed in their March 31, 2022 disclosure 4C.







Now I've never been good at Applied Mathematics but I can count on my fingers, and adding one quarter of a year, i.e. 3 months to March 31st indicates that without a significant cash injection they will cease to be able to pay their debts as and when they become due on 30th June, which is a handy date for everyone who will be crystallising any tax losses beforehand. 

I won't post a chart. It looks absolutely awful, does HPP.

Anyone who changed the name of Buderim Group to Health and Plant Protein Group has obviously never had a stammer nor any idea of English syntax nor the appeal of a name to ordinary English speakers.  

And they are Queensland Nuts not Macadamia Nuts.

gg


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## divs4ever (20 May 2022)

Garpal Gumnut said:


> This outfit's problems stem from a lack of dinero going forward, having only one quarter of cash left as disclosed in their March 31, 2022 disclosure 4C.
> 
> View attachment 141921
> 
> ...



 running the business  or the product grown ??

 ( i was born in QLD and still reside there )

 frequent name changes  are a RED flag for me  , and all the changes of business focus over the years  , don't attract me either 

 i was almost tempted to buy in when this was still Buderim Ginger ( and still had a tourist kiosk )  another bad decision avoided


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