Some Qs for the AGM, page-27

Ref your "If we say that the land is only worth 66% of valuation (just picked a number) your NTA drops to $1.52/share"

I do not think the valuation is high but deliberately unclear about what is included and excluded to make that valuation.

Is it land without any trees? - definitely low valuation based on recent sales of clear land
Is it land with good trees? - almost do not exist but for that situation also low if there is a port but there is no port, so price very debatable.
Is it land complete with burnt trees? - valuation is very high.

A separate post I made referenced what reality with land prices currently is based on discussions with farmers who had recently bought and others who wanted to buy and chain the trees.