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Future Expansion in NSW

AFF’s NSW operations are located near Tocumwal where AFF currently owns 1,777 hectares. AFF is in the process of acquiring two adjoining blocks that would increase AFF’s total operations in New South Wales to 2,654 hectares. These two blocks complement the existing properties by doubling the irrigation capacity of Marabou and Belmont and also adding a bush block which is useful protection for the sheep during lambing as well as adding further dry land.

The Taylors Property

Taylors is a mixture of dry land and irrigation and has been a well maintained and efficient property which means minimal need for further capital upgrades following acquisition. The irrigation infrastructure is in particular in good condition and the irrigated area has been laser levelled which ensures efficient distribution of the water over the area. The property adjoins the Bush block and access to Marabou and Belmont is through the Bush Block. Taylors complements Marabou and Belmont by significantly expanding the fattening capacity of Marabou and Belmont and also adding nutrient rich riverflat soils. Our current estimates are that with Taylors and the Bush Block we should be able to increase our commercial herd by around 8,500 sheep.

The Bush Block

The bush block adjoins Belmont. Its primary use would be to provide access to Taylors and also as a refuge for lambs during lambing. In addition, AFF intends to engage a contractor to collect and sell firewood on the Bush Block which will offset the cost of the acquisition to some degree. It is estimated that there are 60 arable hectares within the Bush Block and the property has a carrying capacity of around 500 sheep. This acquisition would involve paying above $500 per DSE but given the access and protection for lambs during lambing AFF considers that this is justified. The purchase of the Bush Block is contingent on the purchase of Taylors.

Future Expansion in NSW