pulp mill invalid, page-120

Lord,

Thanks for all the valuation work. It just shows how hard it is to value these assets.

I think the FPQ asset sale is irrelivant as it is a businesses sale rather than an assets sale and therefore the buyer has obligations around employment, existing supply agreements etc and the plantations are different species grown mainly for sawlos (therefore different royalty). Also, some of it (NQ)in in an area where there is currently insufficient local markets for the anticipated harvest.