LRK - Lark Distilling Co.

[yogi-in-oz]

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



=====

 

[System]

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

 

[greggles]

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.

 

[galumay]

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

 

[So_Cynical]

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.

 

[System]

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

 

[peter2]

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.

 

[Dona Ferentes]

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:

 

[Dona Ferentes]

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)

 

[Stockbailx]

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!

LARK Distillery - Australia's No.1 Luxury Single Malt Whisky

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

 

[Dona Ferentes]

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

 

[Dona Ferentes]

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.

 

[JohnDe]

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

 

[Garpal Gumnut]

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

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

 

[Dona Ferentes]

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.

 

[rnr]

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)?

 

[Dona Ferentes]

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.”

 

[Dona Ferentes]

The man in question.

 

[Dona Ferentes]

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.

 

[Dona Ferentes]

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.