Australian Agricultural Projects Ltd. (AU:AAP) has released an update.
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Australian Agricultural Projects Ltd reported a lower olive oil production this season due to cooler conditions but managed to produce a high quality extra virgin product, leading to the most valuable harvest in the company’s 20-year history. Despite a quarterly operating cash deficit, future cash flows are expected to improve with the sales of the current harvest. The company is optimistic about the upcoming ‘on year’ season with a full water allocation and anticipates better harvest value than this year.
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