Moora Citrus Project 2008

Moora Citrus Project - 2008 Growers
Cash Rebate	8.25%
Closing Date	CLOSED
Minimum Investment	$8,182 (ex GST)
Term of Project	19 years
Research	Adviser Edge
ATO Product Ruling	2008/17

Telephone:	(08) 9430 5262
Fax:	(08) 9430 5552

The Moora Citrus Project has been established to provide investors with the opportunity to carry on the business of commercially growing quality, fresh citrus fruit near the town of Moora, a two hour drive north of Perth.

•	'4 Star' Investment Rating by Adviser Edge
•	Cash flow expected from Year 3
•	19 year project
•	168,000 citrus trees when fully planted
•	Access to an underground water supply with only “a small risk of any shortfall”
•	Targeting local WA fresh fruit market initially, thereafter expanding to markets in Asia

THE CITRUS INDUSTRY
To date, the West Australian citrus industry has been comprised of local producers with insufficient scale to satisfy demand. Approximately 60% of fresh citrus fruit sold in Western Australia each year is sourced from outside Western Australia.

Additionally, with the short term production issues in the Murray-Darling Basin, stemming from a lack of irrigation water, a market opportunity exists for the Moora Citrus Project.

MARKET OPPORTUNITIES
Large retailers are demanding higher volumes of preferred grades of oranges (comprising quality and size) than WA citrus growers can currently supply.

WA consumers prefer locally grown fruit to imported fruit when product performance is comparable.

The close proximity to the Asian market provides an advantage for major West Australian citrus producers compared to those located in the Eastern States of Australia.

EXPERIENCED PROJECT MANAGER
Agcorp Australia Pty Ltd is the Project Manager for the Moora Citrus Project.

Agcorp Australia and its Directors have experience spanning:

•	In excess of 25 years management of an export grain, pork and wool production operation, featuring agronomic experience, animal production and export supply chain development
•	15 years management of enterprise and capacity building projects in regional communities across Australia
•	In excess of 30 years of national accounting experience specialising in companies involved in agribusiness.

Complementing Agcorp Australia's skills and experience are specialist advisers with national and international backgrounds in their respective fields of hydrogeology and irrigation system development, citrus industry development and nursery management.

RISK MITIGATION
The Project Manager is employing a number of horticultural practices that are designed to minimise the impact of risks such as:

•	Wind
•	Fire
•	Pests and disease

The location selected for the orchard brings with it some important benefits, including:

•	Its position above an aquifer
•	Being situated higher in the landscape to minimise the potential impact of frosts
•	Well draining soils

Refer to the Product Disclosure Statement for more information on the risks associated with the project and the plans for mitigating these risks.

INVESTMENT SUMMARY
Proposed Subscription	2,452 citruslots (183.9ha)
Number of Trees per citruslot	60
Citruslot Size	0.075 hectares
Minimum Application	2 citruslots
Application Fee per citruslot	$4,500 (inc GST)/citruslot
Annual Management Fees¹	Year 1 - $1,130 (inc GST) Year 2 - indexed from previous year² Year 3 - indexed from previous year²
Annual Rent	Year 1 - $275 (inc GST) Year 2 - indexed from previous year² Year 3 - indexed from previous year²
Performance Incentive³	Calculated as 15% of Net Proceeds to Growers

¹ from Year 4 onwards, Annual Management Fees will be the greater of:
a) $770 (inc GST), indexed for each year from year 4; or
b) the Grower's proportion of the anticipated Operating and Scheme Costs plus a margin of 15% (plus GST)

² index rate = 2.75%

³ payable from the year in which harvesting commences

Simply download an Investment Brochure/PDS above. It’s that easy!

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Moora Citrus Project - 2008 Growers