Welcome back Gambier33 and for your useful timber industry knowledge. As I have been saying we can argue back and forth about the assumptions that I and Zwu have put forward but the proof will be in the pudding. The way I proposed to settle it was to place a number or a % of book value on the asset sales that are upcoming as a test.
Do you care to exposit a view on the following;
1) What % of book value will Gunns achieve in its plantation asset sale. At this stage I am suggesting around 10-15% discount to book whereas Zwu is at 50% discount (Zwu will correct this if I am wrong).
2) What price per hectare GTP will realise in the land sale underlying the trees already managed by Gunns. Zwu (I think) was at $2400 and I was close to this number on the basis that it is a weaker set of assets.
Then presumably this will be settled in the next few months and we can observe who "won" if you like. Personally I think anything close to Book value is a big "win" for Gunns but lets see.
On another issue do you have any comment on the Forestry QLD sale we have referred to and the quality and valuation of the assets being offered there?
On the other hand you might prefer to continue to argue the points and go right ahead. That is your right or you might prefer to stay out of it alltogether. The choice is yours but I do value your thoughts as I do Zwu's.
Kind regards
Lord
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