September 23, 2025 • 9 mins
With an alternative option being tabled regarding the Alliance Group deal, Peter Gardyne says it needs to be taken seriously.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
I hear the train of coming.
Speaker 2 (00:09):
It's all and around a bit and I ain't seen
the sunshine on all with Petagarda and farms at Napdale
and joins us this afternoon on the muster Pete.
Speaker 1 (00:21):
Good afternoon.
Speaker 2 (00:22):
You're doing the lambing beet or been shedding out this
morning into this afternoon as well.
Speaker 1 (00:26):
It's been all go yeah.
Speaker 3 (00:28):
You've caught me shedding out of paddock just at the
top end of our farm there, and it's one of
those places when when you're working a peddick up this
topping a paddock, every place you lot you get a
different view and it's actually, yeah, pretty cool spot, especially
on a nice sum daylight today.
Speaker 2 (00:44):
That's one of the perhaps of being a cocky looking
around at the vistas that are around you. I mean,
if you don't take a couple of minutes just to
smell the roses and take in the scenery, why are
you're doing the job?
Speaker 3 (00:54):
And you did right. We've got some staff houses up
here and they probably have one of the cracking beast
views in the district. Unfortunately we're in my house is
we can see about three peticks in front of us
in a hill and that's about that. Yeah, and I
think that is Yeah, that is one thing we do
take for granted. We do this job has its ups
(01:15):
and its downs. And don't you worry. We've put a
few hours in the last calendar month. But I don't know,
it is pretty cool and look at other jobs and
you go here, I'm probably pretty happy doing what I'm doing.
Speaker 2 (01:25):
Eh, So the laming's going okay, Yeah, lambing's gone pretty good.
Speaker 3 (01:30):
We've had a few days that have been not as
fun as other days, but I mean we're landing himself.
And and if you think that that's not going to happen,
well you probably should be looking at a different career.
And and to be for the north of the Hokus
here we do get probably a little bit of a
better run than the guy's south of here.
Speaker 1 (01:47):
What about rainfall figures? Where are you at there?
Speaker 3 (01:51):
Rainfall figures? I'm not one hundred percent sure. I haven't
been keeping a good eye on them. We're still like,
we can go play a paddick. We could probably, we
could probably actually were pats right now at home. But
down at pop Rail it's still get damp down there.
But we've spent a lot of money on drainage over
a period of time, and we're not on the heaviest
tools either, So this is this is a pretty good
(02:11):
sort of rainfall for the napdeal sort the area in
my opinion.
Speaker 1 (02:15):
I'll just had time of year as well.
Speaker 2 (02:17):
Jillian to Hierarichi on the show yesterday with a timely
reminder on the tractors around bird nests and the likes
they're starting.
Speaker 1 (02:23):
Pete to be aware.
Speaker 3 (02:25):
Yeah, one of our guys caught one in one of
the utes the other day, so yeah, there's definitely time
to watch out for those little mongrels. Again.
Speaker 2 (02:33):
Interesting this talk around the Alliance group and these high
profile South and farmers who want to look at an
alternative auction auction let's say option that has been produced
by Dawn meets the Irish company who want to inject
two hundred and fifty million dollars for a sixty five
percent offering of Alliance.
Speaker 1 (02:52):
Where do you stand on this? Is it? Is it
too little too late?
Speaker 3 (02:58):
I find it quite interesting. Actually, I don't know heaps
about it pretty straight up around that, but I have
read a couple of news People articles last night and
Mark Wynn was sort of telling them that there are
a bunch of dreamers. I would probably counter that by
telling Mark when that some of those guys are pretty
impressive operators, and unlike somebody that comes and works for
(03:22):
some of these co ops that come in say that
the last guy was a silly monkey. Do seven years,
get a big golden handshake at the end of it,
and the next guy calls them a silly monkey. These farmers
that run those businesses, there's some pretty impressive businesses there,
and they're in it for the long haul, and they've
been doing it for a long time, and some of
them are doing pretty well. And one thing I did read,
(03:45):
and I've been a pretty strong advocate of this right
from the start, is that the sheer contribution argument when
they wanted four dollars of LAMB when we were on
one of our lowest LAMB payouts, especially when you're inflation
and adjust it for a long time, is completely blonkers.
And something I suggested back This is two mays ago,
(04:08):
so May twenty twenty four, I suggested to Mark Win
and Philly Weiss and another guy, was that a contribution
as especially shareholders like me who are undershared Kase in
the early stage of my career is that it should
be adjusted with the price of lamb and you know,
we've just killed some you know, he's killing stuff a
(04:30):
pretty good coin at the moment, and we can afford
to put more back in. But when we're at the
bottom foot, I as the head was way too much
and yeah, sort of yeah, I think I think it's
worth a lock. But yeah, I don't know enough details
to say yes or no.
Speaker 1 (04:47):
But would that be realistic?
Speaker 2 (04:48):
Kind of cocky who's running, say two and a half
thousand and three thousand lambs that he kills each season.
He's running on a pretty tight schedule as it is.
To give more outlay for a company that's underperformed.
Speaker 3 (05:00):
Well, I think you've got two different issues there that
you've onlined outlined pretty well. I think the company has
to perform and that's a non negotiable and that is
something that needs to be addressed pretty hard. I actually
would like to see some of those bigger farmer guys
actually on the on the board of Alliance because I
(05:20):
think they'd add a heat for a lot of value
because those guys have seen some ups and downs and
they've they've made it through the other side. And then
the other thing. So that's you know, issue one issue
to you know, a farmer of any size, as long
as a contribution is relative to their supply, I don't
see that being an issue. And I would say right now,
if you can't put five dollars I read five dollars
(05:42):
a lamb in the current environment, If you can't put
five dollars a lamb aside in this current environment, you
probably need to check your own budget. And that probably
sounds a bit harsh, but yeah, so I think the
investment A needs to be worthwhile, alliance needs to perform
and then be in this current environment. I think if
(06:02):
you can't put four dollars eleven a side, your budget
needs to check.
Speaker 1 (06:06):
Well. I think that's just the environment we're living in.
Speaker 2 (06:08):
Though you're hearing of a lot of guys who have
interest rates which have stung them severely over the last
twenty four months, and they're playing catch up, pure and simple.
Speaker 3 (06:18):
And honestly, that's us. Like our interest rates more than
tripled as their product prices went down, and when they
made this big announcement eighteen months or so ago, it
wasn't very fun at all. And that's that's us as
a business, and you know, that's where we're getting away
at the other side of it. And Kylie fish AND's
(06:40):
skin told us all to go by a boat the
other day, I'll tell you there won't be any boats
getting brought at Arkly Fun Limited. And we're knuckling down
and we're getting ourselves in a better position and where
I mean my goal this season, with the way things
are looking, is to make the most of what we've
got and to really put the runs on the board
this season. And there's a thod saying about there's a
(07:03):
time to reap and there's a time to suck. And
I think as farm as we look at that simplicity
of springtime time to say autumn time time to harvest,
I actually think it's a bit different, and I actually
think you can take that on a long term horizon,
and I actually think, you know, as a business, this
is the time to reef it back in and to
(07:23):
put it into stuff like debt repayment and the likes.
And then I think when things are bad, that's the
time to actually try and keep going. And something I
said at one of the Alliance things is when we
have an awesome year, that's when we put extra line
on their paddocks. That's when we buy some extra fence
posts and calls of metting and we put them aside
so that in the bad years we can pull back
(07:44):
on that line and we can keep putting fences up
in the winter without having to pay for materials. And
I think that's the nature of the business we're in.
And you know a lot of your listeners have done
a lot more cycles than I have. And as you
got me in trouble the other day for talking about
old people, and yeah, and I think that this is
(08:06):
just a time to reinvest in, pain down debt and
to be fure. I think that the alliance and it
potentially could be an option, but the alliance side of
it needs to stack up as well.
Speaker 1 (08:16):
Everybody's middle aged as a farm of it.
Speaker 2 (08:17):
Just finally, though interesting you talked about it before, say
more at least you're saying the mentality of the top
brass and alliance or just co operat as in general,
it needs to change and they've got to start passing
the back and start taking accountability.
Speaker 3 (08:31):
Yeah and I yeah, I think that who And I
think I need to take a longer term view of
all these things because we're in a long term business,
and you know, you can't go farming for a five
year period or a ten year period. You've got to
be in it for a long term. There's too many
ups and downs. And instead of being scared of that,
(08:53):
I think we actually need to embrace it. And I
think now we're in the time of the cycle to
not over excite ourselves and to knuckle down and put
ourselves in a position to ride out the next wave.
And on that other note about everybody's a middle aged farmer,
one of the guys from down the road proudly told
me that he's now one of those old farmers that
I talked about.
Speaker 1 (09:12):
Are you prepared to name him shame or anonymous?
Speaker 3 (09:14):
Stays Oh, I must have met Namara from just down
the road, and he's a really good rooster.
Speaker 2 (09:20):
Good on you, mister mcnamary, Good on your Pete, always
appreciate your time.
Speaker 3 (09:23):
No worries, Good to have you yards Wadim.
Speaker 1 (09:27):
Pete Gadin.
Speaker 2 (09:28):
And that we're all middle aged right. We can't escape
that mentor unfortunately, but that's life. We continue on for
the afternoon. Tom Shallads and Studio next from Craig's Investment Partners,
I hear the train of coming.
Speaker 2 (00:09):
It's all and around a bit and I ain't seen
the sunshine on all with Petagarda and farms at Napdale
and joins us this afternoon on the muster Pete.
Speaker 1 (00:21):
Good afternoon.
Speaker 2 (00:22):
You're doing the lambing beet or been shedding out this
morning into this afternoon as well.
Speaker 1 (00:26):
It's been all go yeah.
Speaker 3 (00:28):
You've caught me shedding out of paddock just at the
top end of our farm there, and it's one of
those places when when you're working a peddick up this
topping a paddock, every place you lot you get a
different view and it's actually, yeah, pretty cool spot, especially
on a nice sum daylight today.
Speaker 2 (00:44):
That's one of the perhaps of being a cocky looking
around at the vistas that are around you. I mean,
if you don't take a couple of minutes just to
smell the roses and take in the scenery, why are
you're doing the job?
Speaker 3 (00:54):
And you did right. We've got some staff houses up
here and they probably have one of the cracking beast
views in the district. Unfortunately we're in my house is
we can see about three peticks in front of us
in a hill and that's about that. Yeah, and I
think that is Yeah, that is one thing we do
take for granted. We do this job has its ups
(01:15):
and its downs. And don't you worry. We've put a
few hours in the last calendar month. But I don't know,
it is pretty cool and look at other jobs and
you go here, I'm probably pretty happy doing what I'm doing.
Speaker 2 (01:25):
Eh, So the laming's going okay, Yeah, lambing's gone pretty good.
Speaker 3 (01:30):
We've had a few days that have been not as
fun as other days, but I mean we're landing himself.
And and if you think that that's not going to happen,
well you probably should be looking at a different career.
And and to be for the north of the Hokus
here we do get probably a little bit of a
better run than the guy's south of here.
Speaker 1 (01:47):
What about rainfall figures? Where are you at there?
Speaker 3 (01:51):
Rainfall figures? I'm not one hundred percent sure. I haven't
been keeping a good eye on them. We're still like,
we can go play a paddick. We could probably, we
could probably actually were pats right now at home. But
down at pop Rail it's still get damp down there.
But we've spent a lot of money on drainage over
a period of time, and we're not on the heaviest
tools either, So this is this is a pretty good
(02:11):
sort of rainfall for the napdeal sort the area in
my opinion.
Speaker 1 (02:15):
I'll just had time of year as well.
Speaker 2 (02:17):
Jillian to Hierarichi on the show yesterday with a timely
reminder on the tractors around bird nests and the likes
they're starting.
Speaker 1 (02:23):
Pete to be aware.
Speaker 3 (02:25):
Yeah, one of our guys caught one in one of
the utes the other day, so yeah, there's definitely time
to watch out for those little mongrels. Again.
Speaker 2 (02:33):
Interesting this talk around the Alliance group and these high
profile South and farmers who want to look at an
alternative auction auction let's say option that has been produced
by Dawn meets the Irish company who want to inject
two hundred and fifty million dollars for a sixty five
percent offering of Alliance.
Speaker 1 (02:52):
Where do you stand on this? Is it? Is it
too little too late?
Speaker 3 (02:58):
I find it quite interesting. Actually, I don't know heaps
about it pretty straight up around that, but I have
read a couple of news People articles last night and
Mark Wynn was sort of telling them that there are
a bunch of dreamers. I would probably counter that by
telling Mark when that some of those guys are pretty
impressive operators, and unlike somebody that comes and works for
(03:22):
some of these co ops that come in say that
the last guy was a silly monkey. Do seven years,
get a big golden handshake at the end of it,
and the next guy calls them a silly monkey. These farmers
that run those businesses, there's some pretty impressive businesses there,
and they're in it for the long haul, and they've
been doing it for a long time, and some of
them are doing pretty well. And one thing I did read,
(03:45):
and I've been a pretty strong advocate of this right
from the start, is that the sheer contribution argument when
they wanted four dollars of LAMB when we were on
one of our lowest LAMB payouts, especially when you're inflation
and adjust it for a long time, is completely blonkers.
And something I suggested back This is two mays ago,
(04:08):
so May twenty twenty four, I suggested to Mark Win
and Philly Weiss and another guy, was that a contribution
as especially shareholders like me who are undershared Kase in
the early stage of my career is that it should
be adjusted with the price of lamb and you know,
we've just killed some you know, he's killing stuff a
(04:30):
pretty good coin at the moment, and we can afford
to put more back in. But when we're at the
bottom foot, I as the head was way too much
and yeah, sort of yeah, I think I think it's
worth a lock. But yeah, I don't know enough details
to say yes or no.
Speaker 1 (04:47):
But would that be realistic?
Speaker 2 (04:48):
Kind of cocky who's running, say two and a half
thousand and three thousand lambs that he kills each season.
He's running on a pretty tight schedule as it is.
To give more outlay for a company that's underperformed.
Speaker 3 (05:00):
Well, I think you've got two different issues there that
you've onlined outlined pretty well. I think the company has
to perform and that's a non negotiable and that is
something that needs to be addressed pretty hard. I actually
would like to see some of those bigger farmer guys
actually on the on the board of Alliance because I
(05:20):
think they'd add a heat for a lot of value
because those guys have seen some ups and downs and
they've they've made it through the other side. And then
the other thing. So that's you know, issue one issue
to you know, a farmer of any size, as long
as a contribution is relative to their supply, I don't
see that being an issue. And I would say right now,
if you can't put five dollars I read five dollars
(05:42):
a lamb in the current environment, If you can't put
five dollars a lamb aside in this current environment, you
probably need to check your own budget. And that probably
sounds a bit harsh, but yeah, so I think the
investment A needs to be worthwhile, alliance needs to perform
and then be in this current environment. I think if
(06:02):
you can't put four dollars eleven a side, your budget
needs to check.
Speaker 1 (06:06):
Well. I think that's just the environment we're living in.
Speaker 2 (06:08):
Though you're hearing of a lot of guys who have
interest rates which have stung them severely over the last
twenty four months, and they're playing catch up, pure and simple.
Speaker 3 (06:18):
And honestly, that's us. Like our interest rates more than
tripled as their product prices went down, and when they
made this big announcement eighteen months or so ago, it
wasn't very fun at all. And that's that's us as
a business, and you know, that's where we're getting away
at the other side of it. And Kylie fish AND's
(06:40):
skin told us all to go by a boat the
other day, I'll tell you there won't be any boats
getting brought at Arkly Fun Limited. And we're knuckling down
and we're getting ourselves in a better position and where
I mean my goal this season, with the way things
are looking, is to make the most of what we've
got and to really put the runs on the board
this season. And there's a thod saying about there's a
(07:03):
time to reap and there's a time to suck. And
I think as farm as we look at that simplicity
of springtime time to say autumn time time to harvest,
I actually think it's a bit different, and I actually
think you can take that on a long term horizon,
and I actually think, you know, as a business, this
is the time to reef it back in and to
(07:23):
put it into stuff like debt repayment and the likes.
And then I think when things are bad, that's the
time to actually try and keep going. And something I
said at one of the Alliance things is when we
have an awesome year, that's when we put extra line
on their paddocks. That's when we buy some extra fence
posts and calls of metting and we put them aside
so that in the bad years we can pull back
(07:44):
on that line and we can keep putting fences up
in the winter without having to pay for materials. And
I think that's the nature of the business we're in.
And you know a lot of your listeners have done
a lot more cycles than I have. And as you
got me in trouble the other day for talking about
old people, and yeah, and I think that this is
(08:06):
just a time to reinvest in, pain down debt and
to be fure. I think that the alliance and it
potentially could be an option, but the alliance side of
it needs to stack up as well.
Speaker 1 (08:16):
Everybody's middle aged as a farm of it.
Speaker 2 (08:17):
Just finally, though interesting you talked about it before, say
more at least you're saying the mentality of the top
brass and alliance or just co operat as in general,
it needs to change and they've got to start passing
the back and start taking accountability.
Speaker 3 (08:31):
Yeah and I yeah, I think that who And I
think I need to take a longer term view of
all these things because we're in a long term business,
and you know, you can't go farming for a five
year period or a ten year period. You've got to
be in it for a long term. There's too many
ups and downs. And instead of being scared of that,
(08:53):
I think we actually need to embrace it. And I
think now we're in the time of the cycle to
not over excite ourselves and to knuckle down and put
ourselves in a position to ride out the next wave.
And on that other note about everybody's a middle aged farmer,
one of the guys from down the road proudly told
me that he's now one of those old farmers that
I talked about.
Speaker 1 (09:12):
Are you prepared to name him shame or anonymous?
Speaker 3 (09:14):
Stays Oh, I must have met Namara from just down
the road, and he's a really good rooster.
Speaker 2 (09:20):
Good on you, mister mcnamary, Good on your Pete, always
appreciate your time.
Speaker 3 (09:23):
No worries, Good to have you yards Wadim.
Speaker 1 (09:27):
Pete Gadin.
Speaker 2 (09:28):
And that we're all middle aged right. We can't escape
that mentor unfortunately, but that's life. We continue on for
the afternoon. Tom Shallads and Studio next from Craig's Investment Partners,
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