ALICO, INC. — Director's Dealing 2008

Jul 14, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALICO INC (ALCO)
CIK: 0000003545
Period of Report: 2008-01-03

Reporting Person: GMT CAPITAL CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-01-03	Common Stock	P	6958	$36.89	Acquired	747648	Direct
2008-01-04	Common Stock	P	2889	$36.82	Acquired	750537	Direct
2008-01-14	Common Stock	P	1000	$39.75	Acquired	751537	Direct
2008-01-17	Common Stock	P	2029	$39.91	Acquired	753566	Direct
2008-01-18	Common Stock	P	7371	$39.51	Acquired	760937	Direct
2008-06-30	Common Stock	P	2172	$34.13	Acquired	763109	Direct
2008-07-01	Common Stock	P	5202	$34.38	Acquired	768311	Direct
2008-07-03	Common Stock	P	810	$36.04	Acquired	769121	Direct

Footnotes

F1: This Form 4 is being jointly filed by Bay Resource Partners, L.P., a Delaware limited partnership ("Bay"), Bay II Resource Partners, L.P., a Delaware limited partnership ("Bay II"), Bay Resource Partners Offshore Fund, Ltd., an exempted company organized under the laws of the Cayman Islands ("Offshore Fund"), GMT Capital Corp., a Georgia corporation ("GMT Capital"), and Thomas E. Claugus, a United States citizen ("Claugus"). The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons.

F2: GMT Capital, the general partner of Bay and Bay II, has the power to direct the affairs of Bay and Bay II, including the voting and disposition of shares. As the discretionary investment manager of the Offshore Fund and certain other accounts, GMT Capital has power to direct the voting and disposition of shares held by the Offshore Fund and such accounts. Mr. Claugus is the President of GMT Capital and in that capacity directs the operations of each of Bay and Bay II and the voting and disposition of shares held by the Offshore Fund and separate client accounts managed by GMT Capital. GMT Capital and Mr. Claugus may be deemed to beneficially own indirect pecuniary interest as the result of performance-based fees and profit allocations. Each of GMT Capital and Mr. Claugus disclaims such beneficial ownership except to the extent ultimately realized.

F3: The aggregate number of shares of common stock acquired was 6,958 shares and such shares were purchased by the Reporting Persons in the following amounts: Bay = 1,700 shares; Bay II = 1,200 shares; Offshore Fund = 3,258 shares; GMT Capital = 600 shares; Claugus = 200 shares.

F4: 747,648 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 180,700 shares directly owned by it; Bay II = 120,800 shares directly owned by it; Offshore Fund = 364,948 shares directly owned by it; GMT Capital = 60,200 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,000 shares directly owned by him.

F5: The aggregate number of shares of common stock acquired was 2,889 shares and such shares were purchased by the Reporting Persons in the following amounts: Bay = 700 shares; Bay II = 500 shares; Offshore Fund = 1,389 shares; GMT Capital = 200 shares; Claugus = 100 shares.

F6: 750,537 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 181,400 shares directly owned by it; Bay II = 121,300 shares directly owned by it; Offshore Fund = 366,337 shares directly owned by it; GMT Capital = 60,400 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,100 shares directly owned by him.

F7: The aggregate number of shares of common stock acquired was 1,000 shares and such shares were purchased by the Reporting Persons in the following amounts: Bay = 200 shares; Bay II = 200 shares; Offshore Fund = 500 shares; GMT Capital = 100 shares.

F8: 751,537 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 181,600 shares directly owned by it; Bay II = 121,500 shares directly owned by it; Offshore Fund = 366,837 shares directly owned by it; GMT Capital = 60,500 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,100 shares directly owned by him.

F9: The aggregate number of shares acquired was 2,029 and such shares were purchased by the Reporting Persons in the following amounts: Bay = 500 shares; Bay II = 300 shares; Offshore Fund = 929 shares; GMT Capital = 200 shares; Claugus = 100 shares.

F10: 753,566 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 182,100 shares directly owned by it; Bay II = 121,800 shares directly owned by it; Offshore Fund = 367,766 shares directly owned by it; GMT Capital = 60,700 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,200 shares directly owned by him.

F11: The aggregate number of shares acquired was 7,371 and such shares were purchased by the Reporting Persons in the following amounts: Bay = 1,800 shares; Bay II = 1,200 shares; Offshore Fund = 3,571 shares; GMT Capital = 600 shares; Claugus = 200 shares.

F12: 760,937 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 183,900 shares directly owned by it; Bay II = 123,000 shares directly owned by it; Offshore Fund = 371,337 shares directly owned by it; GMT Capital = 61,300 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,400 shares directly owned by him.

F13: The aggregate number of shares acquired was 2,172 and such shares were purchased by the Reporting Persons in the following amounts: Bay = 300 shares; Bay II = 400 shares; Offshore Fund = 1,272 shares; GMT Capital = 200 shares.

F14: 763,109 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 184,200 shares directly owned by it; Bay II = 123,400 shares directly owned by it; Offshore Fund = 372,609 shares directly owned by it; GMT Capital = 61,500 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,400 shares directly owned by him.

F15: The aggregate number of shares acquired was 5,202 and such shares were purchased by the Reporting Persons in the following amounts: Bay = 700 shares; Bay II = 1,000 shares; Offshore Fund = 3,002 shares; GMT Capital = 400 shares; Claugus = 100 shares.

F16: 768,311 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 184,900 shares directly owned by it; Bay II = 124,400 shares directly owned by it; Offshore Fund = 375,611 shares directly owned by it; GMT Capital = 61,900 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,500 shares directly owned by him.

F17: The aggregate number of shares acquired was 810 and such shares were purchased by the Reporting Persons in the following amounts: Bay = 100 shares; Bay II = 200 shares; Offshore Fund = 410 shares; GMT Capital = 100 shares.

F18: 769,121 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 185,000 shares directly owned by it; Bay II = 124,600 shares directly owned by it; Offshore Fund = 376,021 shares directly owned by it; GMT Capital = 62,000 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,500 shares directly owned by him.