RFM has also entered into options to acquire three cattle properties: Petro, High Hill and Willara, for a consideration of $22.6 million (inclusive of estimated transaction costs). The properties are located between 200km and 280km north of Perth and the settlement is expected to occur April 2020.
The WA cattle properties shall be leased to Stone Axe Pastoral Company Pty Ltd (SAP) allowing SAP to expand and further diversify their Wagyu beef operations.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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