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Basic Food Fund: Fat and Happy for Now

Mark,
I was just curious as to your thoughts of IPSU having to file some sort of bankruptcy in order to protect itself. What do you think the chances of this happening. IPSU is trading at an 80mil market cap. With all of the assets you have previously listed, it would seem to be a SCREEMING BUY!

Basic Food Fund: Food Stocks Devour Bears

Any thoughts on todays news release for IPSU.

, Texas--(BUSINESS WIRE)--The Imperial Sugar Company (NASDAQ:IPSU - News) updated the status of its project to rebuild its Port Wentworth, Georgia, refinery which was extensively damaged in an industrial accident in February 2008. The Company reported that through March 31, 2009, it had spent approximately $54 million of the estimated $200 million to $220 million construction costs. The Company’s property insurance policy provides coverage for construction replacement cost, as well as business interruption and certain payroll and other costs. The Company received an additional $35 million advance under the property insurance policy in March 2009. Advances, which total $160 million to date, are not identified with any specific coverage under the policy. Imperial expects to begin producing granulated bulk sugar at the facility in late May of 2009 and complete restoration of the packaging capabilities by the fall of 2009. The Company also reported that as of March 31, 2009, it had cash balances of $79 million and available, undrawn revolving credit capacity of $55 million, after deducting $30 million of outstanding borrowings under that facility.

Basic Food Fund: Will a 5000 Dow Decimate It?

Mark my mistake you are correct, that being said IPSU owns 50% of that and if the value is 80 mil IPSU stake would be worth 40mil given IPSU present market cap of 88 mil what are your thoughts?

Basic Food Fund: Will a 5000 Dow Decimate It?

Mark,

You also stated in an earlier article that IPSU 50% position in the Mexican joint venture had a total value of 80 mil at todays mrkt cap that would value IPSU core business at less that 50 mil. Any comments are appreciated.

Basic Food Fund: Will a 5000 Dow Decimate It?

Any thoughts on IPSU market cap of 92 mil it would seem to be very cheap.
Your thoughts are aprreciated.