Terragen Holdings Limited Quarterly Activities Report - 24 July 2024
TGH (TGH) Share Update July 2024 Wednesday 24th
Terragen Holdings Limited Announces Key Developments and Financial Update
Terragen Holdings Limited (ASX:TGH), an Australian biological agriculture company, has released its quarterly activities report for the three months ended 30 June 2024. The report highlights significant advancements in product development, ongoing research studies, and a detailed financial update.
Instant Summary:
- Development of Dry MYLO® product prototype.
- Conclusion of Methane Emissions Reduction and Soil Organic Carbon studies.
- Cash reserves of $4.65 million at the end of June 2024.
Product Development and Research
Terragen Holdings Limited has made significant progress in the development of its Dry MYLO® product. Following successful commercial-scale freeze drying, a prototype has been developed that meets quality specifications. The company is finalizing arrangements for a large-scale commercial trial to test the performance of cattle supplemented with the dry MYLO prototype against the liquid MYLO product and a control group.
Additionally, Terragen concluded the animal observation phase of the Methane Emissions Reduction in Livestock Round Two (MERiL2) trial. This study, conducted by Agriculture Victoria, focused on weight gain and methane emissions in lambs fed with a dry MYLO formulation. Final data analysis is underway, and results will be shared once complete.
Soil Organic Carbon Study
Terragen also completed a Soil Organic Carbon Study, which involved analyzing soil core samples from properties using Great Land Plus® in viticulture and dairy systems. The study aims to compare these results with properties not using the product to measure the long-term benefits of Great Land Plus®.
Financial Update
As of 30 June 2024, Terragen reported cash reserves of $4.65 million. The company used $530k in net cash for operating activities during the quarter, a slight improvement from the $586k used in the same period last year. The detailed financial report includes cash flows from operating, investing, and financing activities, reflecting a net decrease in cash and cash equivalents from $5.35 million to $4.65 million over the quarter.
The advancements in product development and research are promising for Terragen Holdings Limited. The successful trials and positive outcomes from the Methane Emissions Reduction and Soil Organic Carbon studies could enhance the company's market position and attract new investors. The financial stability reflected in the cash reserves is also a positive indicator for the company's future operations.
Investor Reaction:
Investors and analysts have shown interest in the potential of the Dry MYLO® product and the outcomes of the ongoing research studies. The company's focus on sustainable agricultural solutions aligns with global trends, which could positively influence investor sentiment.
Conclusion:
Terragen Holdings Limited's recent developments and financial stability present a promising outlook for the company. Investors should keep an eye on the upcoming trial results and the company's strategic initiatives to leverage these advancements. Staying informed about Terragen's progress will be crucial for making informed investment decisions.