SASoy
purchased its second and third properties in December of 2004. The two farms
are contiguous, and only separated from our NF1 farm at one point,
by a few hundred meters.
NF2 contains 185.7 hectares (459 acres), and after opening
pastures, now has 97 hectares of cropland (240 acres), and 6.3 hectares
(16 acres) of established pastures—52% of the total farm area is now
being planted to crops.
The entire tillable area was planted to
soybeans in November of 2009. A legal reserve has not yet been
established for this property. The farm has no liens or mortgages, and
a clear title is held to the property in the name of the Limitada.
The
farm was purchased for 254,057 real in December of 2004, and was
appraised in January of 2010 for 563,892 real ($322,224 in US dollars at
an exchange rate of 1.75 real/USD). In real, the farm has
appreciated 122% above its 2004 purchase cost.
The company's NF3 farm was also purchased in December of 2004, and
it contains
252.8 hectares (625 acres), and after pastures were opened and cerrado
(brush) cleared, how has 88.3 hectares (218 acres) for crops and 39
hectares (96 acres) of pasture—35% of the total farm area is now planted
to crops, and 50.3% is being utilized in crops or pastures.
Soybeans
were planted on all 88.3 hectares of this farm in November of 2009.
This property’s legal reserve is established, and all areas have been
cleared A clear title to this property is held in the name of Nova
Fronteira.
The
farm was purchased for 345,943 real in December of 2004, and was
appraised in January of 2010 for 767,928 real ($438,816 in US dollars at
an exchange rate of 1.75 real/USD). In real, this farm has also
appreciated 122% above its 2004 purchase cost.
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